Skadden, Arps, Slate, Meagher Flom is advising on dual vast word attention exchange that were announced Friday.
The organisation is holding a reins for buyout organisation TPG on a squeeze of The Warranty Group from private equity owners Onex Corporation for $1.5 billion, including a arrogance of debt.
In a second deal, Skadden is portion as lead transaction warn for word association Wilton Re Holding Ltd. in tie with a sale to a Canada Pension Plan Investment Board (CPPIB) in a understanding value $1.8 billion.
TPG’s understanding is a delegate buyout that will see a private equity organisation take over a association that underwrites extended guaranty contracts and manages word claims for clients in a distribution, production and sell industries. (TPG has also been in a news this week for being among a investors set to plow income into Airbnb Inc. in a financing turn that reportedly values a Web-based camp let use during some-more than $10 billion, according to Bloomberg.)
Onex bought The Warranty Group—which employs about 1,800 people—from Aon Corporation in 2006 with equity investment of roughly $500 million. TPG’s merger is approaching to tighten in a third quarter, tentative regulatory approval.
Skadden is advising TPG with a organisation that includes New York–based financial institutions partners Sven Mickisch and William Rubenstein, as good as word partner Robert Sullivan, banking partner Stephanie Teicher, taxation partner Jessica Hough and investment government partner John Caccia. Skadden associates on a understanding are James Greifzu and Jon Hlafter. Skadden suggested a house of Caesars Acquisition Company—a holding association for TPG’s and Apollo Global Management’s interest in a try account also owned in partial by casino user Caesars Entertainment—in a $2.2 billion restructuring deal progressing this month.
Former Cravath, Swaine Moore partner Ronald Cami is TPG’s ubiquitous counsel.
Kaye Scholer is representing both The Warranty Group and Onex in tie with a Onex sale. New York–based comparison corporate partner Joel Greenberg is heading a firm’s team, that also includes corporate partner Thomas Yadlon, remuneration and advantages partner Jeffrey London, taxation chair Laurie Abramowitz, collateral markets partner Christopher Peterson, financial partner Sheryl Gittlitz, antitrust partner Sebastian Jungermann, taxation warn Gregg Benson and regulatory warn Peter Danias. The Kaye Scholer associates operative on a understanding are Connie Ericson, Sharon Obialo, Tracy Romano, Stephen Sandiford and Brian Witkowski.
Onex’s ubiquitous warn is Andrea Daly.
Onex is a visit Kaye Scholer client, carrying incited to a organisation on such past exchange as a $2.3 billion squeeze of USI Insurance Services from Goldman Sachs in 2012.
In a second large word understanding announced Friday, grant account manager CPPIB has concluded to compensate $1.8 billion to acquire Wilton Re, a Wilton, Conn.–based provider of word and reinsurance services that also buys sealed blocks of life word policies.
Toronto-based CPPIB is appropriation Wilton Re from a organisation of investors led by Stone Point Capital, Kelso Co. and Vestar Capital Partners. The understanding is approaching to tighten before August, tentative regulatory approvals.
Debevoise Plimpton is representing CPPIB on a squeeze with a organisation led by New York–based corporate chair Jeffrey Rosen and financial institutions cochair Nicholas Potter.
The Skadden organisation advising Wilton Re and a house includes New York–based financial institutions partners Todd Freed and Sven Mickisch as good as taxation partner Jessica Hough, corporate financial partner Dwight Yoo, banking partner Steven Messina and associate Joseph Roy.
Sutherland Asbill Brennan, meanwhile, has also landed a purpose on a transaction. The organisation is advising Wilton Re on advantages matters with a organisation that includes Washington, D.C.–based remuneration and advantages partner Carol Weiser and taxation partner Michael Miles, along with taxation warn Christopher Schoen.
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