Debevoise & Plimpton Archives

Rithm Capital Acquires Sculptor Capital Management for Approximately $639MM

Rithm Capital and Sculptor Capital Management entered into a definitive agreement under which Rithm will acquire Sculptor in a transaction valued at approximately $639 million, which includes $11.15 per Class A share of Sculptor.

PGIM Acquires Majority Interest in Deerpath Capital

PGIM, the $1.2 trillion global investment management business of Prudential Financial, signed a definitive agreement to acquire a majority interest in Deerpath Capital Management and its associated affiliates.

Avaya Holdings Enters into Restructuring Support Agreement with Secured Lenders

Avaya Holdings, a provider of solutions to enhance and simplify communications and collaboration, entered into a restructuring support agreement with overwhelming support of more than 90% of the company’s secured lenders.

Mizuho Americas Acquires Capstone Partners

Mizuho Americas signed an agreement to acquire Capstone Partners, an independent middle-market placement agent focused on fundraising and advisory services to private equity, credit, real asset and infrastructure investment firms.

Philippine Airlines Emerges from Chapter 11 with $2B in Balance Sheet Reductions

Philippine Airlines emerged from its voluntary Chapter 11 proceedings, completing its financial restructuring within four months. Philippine Airlines’ plan of reorganization provides for more than $2 billion in permanent balance sheet reductions from existing creditors.

Oaktree Capital Management Acquires Velocity Risk Underwriters

Funds managed by Oaktree Capital Management, a global investment manager specializing in alternative investments, acquired Velocity Risk Underwriters, a catastrophe-focused property and specialty insurance risk managing general agent.

J.P. Morgan, BofA, KKR Provide Debt Financing to Support Acquisition of Cloudera

Cloudera entered into a definitive agreement to be acquired by affiliates of Clayton, Dubilier & Rice and KKR in an all-cash transaction valued at approximately $5.3 billion. J.P. Morgan, Bank of America and KKR Capital Markets committed to provide debt financing for the transaction.

Citizens Bank Acquires 80 East Coast Branches, National Online Deposit Business of HSBC

Citizens Bank entered into an agreement to acquire 80 East Coast branches from HSBC Bank as well as HSBC’s national online deposit business. Under the agreement, Citizens will acquire approximately $9 billion in deposits and approximately $2.2 billion in loans.

Guitar Center Emerges from Chapter 11

Guitar Center emerged from bankruptcy following the consummation of its plan of reorganization under Chapter 11 of the U.S. Bankruptcy Code.

Debevoise Advises Tribune Company in Gracenote Acquisition

Debevoise & Plimpton is advising Tribune Company in its agreement with Sony Corporation of America to purchase Gracenote.

January 6, 2014 Debevoise & Plimpton | Gracenote | Sony Corporation of America ABF Journal

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