Law firm Simpson Thacher & Bartlett promoted Amanda H. McGovern to senior counsel for its private funds and family office practice in New York while elevating 23 other professionals to counsel across multiple disciplines, including capital markets and M&A.
Anagram Enters Into “Stalking Horse” Agreement to Sell Business, Files for Chapter 11 to Facilitate Sale
Anagram International, a foil balloon manufacturer, is pursuing a sale of the company and has entered into an agreement with a group of its lenders as the stalking horse bidders to acquire its assets, subject to higher or otherwise better offers and court approval.
Goldman Sachs entered into an agreement to sell its GreenSky platform and associated loan assets to a consortium of institutional investors led by Sixth Street. The transaction is expected to close in Q1/24, subject to standard closing conditions.
Hilton Grand Vacations successfully repriced its existing $1.3 billion term loan B, maturing Aug. 2, 2028. The new pricing will be SOFR plus 275 basis points, down from SOFR plus 300 basis points. Additionally, the interest rate floor for the Term Loan B has been lowered from 50 basis points to zero basis points.
World Insurance Associates, an insurance brokerage, and funds advised by Goldman Sachs Asset Management, through its private equity and hybrid capital teams, entered into a definitive agreement through which Goldman Sachs will make “a major investment” in World Insurance Associates.
Paramount Global and KKR signed a definitive agreement pursuant to which KKR will acquire Simon & Schuster for $1.62 billion in an all-cash transaction.
Bright Health Group, a healthcare company, entered into a credit facility with an investment partnership of New Enterprise Associates with $60 million of credit capacity on Aug. 4, 2023.
Banc of California signed a definitive merger agreement with PacWest Bancorp. The combined holding company and bank will operate under the Banc of California name and brand following closing of the transaction.
Blackstone completed the acquisition of a majority stake in Emerson’s climate technologies business in a transaction valuing the business at $14 billion. The new standalone business will be named Copeland.
Cvent Holding Corp., a meetings, events and hospitality technology provider, entered into a definitive agreement to be acquired by an affiliate of private equity funds managed by Blackstone in a transaction valued at an enterprise value of approximately $4.6 billion.