Shearman And Sterling

News

Apax Partners and Warburg Pincus’ Acquisition of T-Mobile Netherlands

September 28, 2021

Shearman & Sterling represented the mandated lead arrangers in connection with the debt financing in support of the acquisition by funds advised by Apax Partners and Warburg Pincus LLC of T-Mobile Netherlands which has an enterprise value of €5.1 billion.

News

Future Diamond Limited's $200 Million Senior Notes Offering

September 28, 2021

Shearman & Sterling represented Seazen Group Limited as the guarantor in connection with the offering of $200 million 4.25% guaranteed senior notes due 2022 by Future Diamond Limited, a subsidiary of Seazen Group Limited and an indirect wholly-owned subsidiary of Seazen Resources Capital Group Limited.

News

eHi Car Services Limited's $300 Million Senior Notes Offering and Concurrent Tender Offer

September 28, 2021

Shearman & Sterling represented J.P. Morgan, Deutsche Bank, HSBC and UBS as the joint lead managers in connection with eHi Car Services Limited’s offering of $300 million 7% senior notes due 2026.

Perspective

House Ways & Means Proposes Accelerating Changes to Section 162(m)

September 27, 2021

In March 2021, the American Rescue Plan Act of 2021 (ARPA) amended Section 162(m) of the Internal Revenue Code to expand the covered employees subject to its compensation deduction limitation. Pursuant to the amendment, five additional employees will be covered each year, and such employees need not be executive officers of the company. The ARPA amendment indicated it would be effective for tax years beginning after December 31, 2026, giving companies approximately five years to prepare for the change. However, the House Ways & Means Committee’s recent proposal would accelerate the effectiveness of the ARPA amendment to tax years beginning after December 31, 2021.

News

The Deal Honors Shearman & Sterling with Deal of the Year Awards

September 24, 2021

Shearman & Sterling was recognized with several prominent Deal of the Year awards by The Deal, a publication focused on corporate transactions, dealmakers and their advisers. The awards celebrate the dealmakers shaping the deal economy in 2021.

Perspective

M&A Watch: Contractual Fraud: ‘Too Much Dynamite’ Can Blow Enforceability

September 24, 2021

On August 12, 2021, Vice Chancellor Slights of the Delaware Court of Chancery, in Online HealthNow, Inc. and Bertelsmann, Inc. v. CIP OCL Investments, LLC, et al (Del. Ch. August 12, 2021), denied defendants’ (seller’s) motion to dismiss a buyer’s post-closing fraud claims arising from representations and warranties in a purchase agreement that allegedly were known to be false when made, noting that a seller may not use a limitation of liability clause in a contract obtained by fraudulent inducement to bar a buyer’s fraudulent contract claim.

News

Shearman & Sterling Hosts Humanitarian Award Ceremony Honoring Colombian President H.E. Iván Duque Márquez

September 24, 2021

On September 24, 2021, Shearman & Sterling hosted the Venezuelan American Association of the U.S., the Colombian American Association and the Venezuelan American Endowment for the Arts, in connection with the presentation of a humanitarian award honoring the President of the Republic of Colombia, H.E. Iván Duque Márquez.

News

Radiance Capital Investments Limited’s $300 Million Senior Green Notes Offering

September 24, 2021

Shearman & Sterling represented the initial purchasers in connection with Radiance Capital Investments Limited’s offering of $300 million 7.8% senior green notes due 2024.

Event

Shearman & Sterling Partners to Speak at 17th Annual Boardroom Summit

September 24, 2021

Shearman & Sterling was proud to be a knowledge partner of the Corporate Board Member at its 17th annual Boardroom Summit & Peer Exchange. On September 24, our Global Managing Partner George Casey led a discussion on “The Board’s Role in Improving M&A Deal Outcomes” with Emily Peterson Alva, Board member of Alkermes, Amneal Pharmaceuticals, Inc. and Atlanta Life Insurance Company and partners Alan Goudiss and Derrick Lott.

News

Sound Transit’s $1.6 Billion Downtown Redmond Link Extension And Refinancing

September 23, 2021

Shearman & Sterling advised the U.S. Department of Transportation in connection with the extension of an approximately $521 million secured loan to the Central Puget Sound Regional Transit Authority to fund a portion of the Downtown Redmond Link Extension Project in Seattle, Washington.