Schulte is advising Albertsons Companies, one of the nation’s largest food and drug retailers, in its merger with Rite Aid Corporation, one of the nation’s leading drugstore chains. The integrated company will operate approximately 4,900 locations, 4,350 pharmacy counters and 320 clinics across 38 states and Washington, D.C., serving over 40 million customers per week. The deal was announced Feb. 20, 2018 and is expected to close early in the second half of 2018. The newly combined company is expected to generate year one revenues of approximately $83 billion.

Slaughter and May is advising Prudential plc on the proposed demerger of its UK & Europe business (M&G Prudential) from Prudential plc, resulting in two separately-listed companies. M&G Prudential will be an independent, capital-efficient UK & Europe savings and investment provider, headquartered in London and holding a premium listing on the London Stock Exchange.

On March 9, 2018, the Board of GKN plc (“GKN”) announced that it has reached an agreement with Dana Incorporated (“Dana”) on the proposed combination of GKN’s Driveline business (“GKN Driveline”) and Dana to create Dana plc, a global leader in vehicle drive systems. The proposed transaction values GKN Driveline at a total enterprise value of $6.1 billion. Cravath is representing GKN in connection with the transaction.

King & Spalding advised the shareholders of Middle East oil and gas land drilling company Dalma Energy LLC on the proposed combination of its business operations in Oman and Saudi Arabia with the business operations of KCA Deutag to form an enlarged business under the KCA Deutag Group.

Herbert Smith Freehills has advised Uber Technologies Inc. (Uber) on the combination of its ridesharing business in Russia and neighbouring Commonwealth of Independent States (CIS) countries with Yandex.Taxi. The deal completed on 7 February 2018. Uber now owns 36.9% of the combined business and its stake is valued at US$1.4 billion.

Debevoise & Plimpton LLP has advised PJSC MegaFon (“MegaFon”) in its transaction with PJSC VimpelCom (VimpelCom”), a Russian subsidiary of VEON Ltd. (“VEON”), to discontinue their Euroset joint venture.

Pursuant to terms of the transaction, VimpelCom acquired half of Euroset’s retail stores and sold its 50% interest in the Euroset joint venture to MegaFon, resulting in MegaFon now owning 100% of Euroset.

Hong Kong - Paul Hastings, a leading global law firm, announced today that the firm advised COSCO SHIPPING Development Co., Ltd. (“COSCO SHIPPING Development”) on the merger between CS Finance, a non-wholly owned subsidiary of COSCO SHIPPING Development, and COSCO Finance. Hong Kong and Shanghai-listed COSCO SHIPPING Development provides, among other things, vessel chartering and container leasing services.

Schulte is advising Priority Holdings LLC, one of the nation's fastest growing payments companies, in its definitive purchase agreement with M I Acquisitions Inc. to become a publicly traded company. Priority and M I, a special purpose acquisition company, will combine and be renamed Priority Technology Holdings Inc. with an anticipated enterprise value in excess of $1 billion. The transaction will build upon Priority Holdings' growth strategy, uniquely positioning them as a highly differentiated technology platform that delivers a value-added collection of payment and business solutions.

Frankfurt/Main - On December 29, 2017, VTB Group completed the realignment of its European operations. VTB Bank (Europe) SE was established through the cross-border merger of VTB Bank (Austria) AG into VTB Bank (Deutschland) AG and the subsequent cross-border merger of VTB Bank (France) SA into VTB Bank (Europe) SE, which now operates under a single banking license.

An international CMS-team led by CMS Germany advised VTB Bank comprehensively on this complex transaction.

Multi-disciplinary team at Weightmans secures results for Leeds business

A corporate team at national law firm Weightmans has advised Leeds chartered accountants Hentons on its strategic merger with York and Thirsk-based Forster Scott & Co as part of a multi-million pound expansion plan.

Hentons’ position throughout Yorkshire and beyond has been strengthened by the acquisition of the accountancy practice with  110 years of history.