The Firm is representing Vodafone Group Plc ("Vodafone") in connection with the announced sale of its U.S. group, whose principal asset is a 45% interest in Verizon Wireless ("VZW"), to Verizon Communications Inc.
The Firm is representing Microsoft Corporation in connection with its announced acquisition of Nokia Corporation’s Devices & Services business, license of Nokia’s patents, and license and use of Nokia’s mapping services, for a total consideration of approximately $7.2 billion (€5.44 billion) in cash. Microsoft will pay €3.79 billion to purchase substantially all of Nokia’s Devices & Services business and €1.65 billion to license Nokia’s patents.
Paul Hastings LLP is representing Primary Wave Music, one of the largest and most successful independent music companies in the US, in a $150 million strategic alliance with BMG, which will involve Primary Wave marketing BMG/Primary Wave’s future new record releases in the US and BMG buying significant rights in Primary Wave’s music publishing assets.
International law firm Taylor Wessing has advised Powa Technologies Limited on a private placement of shares to raise an aggregate amount of approximately $76 million US dollars. The transaction represents one of the largest investments in an early stage UK technology company in recent years.
Slaughter and May advised Dentsu Aegis Network Limited, one of the world's leading marketing communications groups, on the sale of its scan data services business, Aztec, to Information Resources, Inc.
Aztec provides scan-data and other services to consumer packaged goods retailers and manufacturers and has operations in the UK, Australia, Sweden, South Africa, New Zealand, Canada and Hong Kong.
The disposal of Aztec was signed and completed on 3 September 2013.
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Debevoise & Plimpton LLP is advising Verizon Communications Inc. in its agreement with Vodafone Group Plc to acquire Vodafone’s U.S. group with the principal asset of 45 percent of Verizon Wireless for $130 billion, consisting primarily of cash and stock.
The transaction was unanimously approved by the boards of directors of Verizon and Vodafone, and is subject to customary closing conditions, including regulatory approvals and the approval of both companies’ shareholders. The transaction is expected to close in the first quarter of 2014.
Davis Polk advised Ingram Micro Inc. in connection with an amendment and extension to its existing $940 million senior unsecured revolving credit facility. Among other things, the amendment adds an additional borrower to the facility, authorizes the borrowers to upsize the facility by up to an additional $310 million and extends the maturity date of the facility. The Bank of Nova Scotia served as administrative agent for the facility.
Davis Polk advised Facebook, Inc. in connection with a new $6.5 billion senior unsecured revolving credit facility. J.P. Morgan Chase Bank, N.A. acted as administrative agent, and J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as joint lead arrangers.
Headquartered in Menlo Park, California, with a market capitalization of approximately $111.51 billion, Facebook, Inc. is a social media network connecting more than 900 million monthly active users.
Macfarlanes is advising Verizon Communications Inc. on its acquisition of Vodafone's 45 per cent interest in Verizon Wireless for $130bn. The transaction provides Verizon with 100 per cent ownership of Verizon Wireless, a leading wireless carrier in the United States. As a result the company will be better equipped to take advantage of the changing competitive dynamics in the market and capitalise on the continuing evolution of consumer demand for wireless, video and broadband services.
Slaughter and May is advising Vodafone on an agreement to dispose of its US group whose principal asset is its 45% interest in Verizon Wireless ('VZW') to Verizon Communications Inc. ('Verizon'), Vodafone's joint venture partner, for a total consideration of US$130 billion (£84 billion).