Simpson Thacher & Bartlett LLP

The Firm is representing EQT Infrastructure V fund and its portfolio company, Reworld?, in connection with an agreement to sell a 25% minority stake in Reworld? to GIC via a combination of primary and secondary capital. The transaction is subject to customary conditions and approvals and is expected to close in the first quarter of 2025. EQT Infrastructure will remain the largest shareholder following the closing of the transaction. Reworld? is a leader in sustainable waste solutions, providing innovative and environmentally responsible services to a global community. Reworld? is committed to advancing zero waste initiatives and supporting sustainability goals through state-of-the-art technologies that reimagine, reduce, reuse, recycle, recover and renew. EQT is a purpose-driven global investment organization with EUR 246 billion in total assets under management (EUR 133 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership. The Simpson Thacher team includes Michael Holick, Mark Myott, Sherry Shen, Shaneel Parikh, Michaela Dion, Robert Hausen, Omar Kanjwal, Wang Chen, Dashia Kwok, Amy Zhou, William Lyoo, Ramin Tabrizi, Abby Kieker, Madison Santoli, Dina Stumpf, Sabrina Suen, Marissa Train and Nick Redfield (M&A); Jonathan Goldstein, Bill Smolinski, Emma Wang and Mohanad Salaimi (Tax); David Rubinsky, Ashlie Lawton and Joshua Stephens (Executive Compensation and Employee Benefits); Brian Chisling (FERC); Eli Isak and Callie Robins (Banking and Credit); Hui Lin and Skyler Simon (Capital Markets); Robert Lee and Vandana Harris (Funds); Lori Lesser, Ron Ben-Yehuda, Kate Mirino and Chandler Gerard-Reimer (Intellectual Property); David Caldwell (Regulatory); Krista McManus (Real Estate); and Steve DeLott (Insurance).

In recognition of Hispanic Heritage Month, Simpson Thacher hosted a fireside chat with author Cristina Henríquez. Cristina is the author of four books including?“The Great Divide,” a powerful novel set against the building of the Panama Canal.?The novel begins in the 1900s and, through a fictional cast of characters, explores the history of its creation, the land and the lives of those rarely acknowledged. Litigation Associate Miranda Hernandez moderated the discussion. Read more:?https://lnkd.in/ehUKjaFc

Simpson Thacher advised the ad hoc group of term loan lenders to Cineworld, in connection with the successful completion of a comprehensive restructuring of its U.K. group. The transaction, implemented using interlocking restructuring plans in the High Courts of England & Wales, sees the right-sizing of the U.K. group’s lease estate and a recapitalisation of the U.K. group’s balance sheet (including a significant equity injection from the U.S. group). Cineworld, which operates cinemas in ten countries (including in the U.S. and the U.K.), has faced significant challenges in recent years – including the impact of government-enforced lockdowns during the Covid-19 pandemic, and the slowdown in the movie industry following industrial action in Hollywood in 2023. This restructuring transaction follows Cineworld’s 2023 Chapter 11 plan, which provided much needed liquidity and substantially right-sized both its debt stack and its U.S. leases. The Simpson Thacher team includes James Watson, Thomas Wilson and Chloe Potter (Restructuring).

Simpson Thacher is representing TIH in connection with its definitive agreement to sell its McGriff Insurance Services business to an affiliate of Marsh & McLennan Companies, Inc. for $7.75 billion in cash, subject to certain customary adjustments. The transaction is targeted to close by year-end, subject to the satisfaction or waiver of certain limited customary closing conditions, including regulatory approval. An affiliate of TIH, McGriff is a full-service insurance broker providing risk management and insurance solutions to clients across the United States. The firm’s coverages include commercial property and casualty, corporate bonding and surety services, cyber, management liability, captives, and alternative risk transfer programs, small business, employee benefits, title insurance, personal lines, and life and health. Simpson Thacher represented funds managed by Stone Point Capital LLC in connection with their acquisition of TIH, together with funds managed by Clayton, Dubilier & Rice, LLC, earlier in 2024, as well as Stone Point’s minority investment in TIH in 2023. The Simpson Thacher team includes: Elizabeth Cooper, Mark Viera, Malik Ladhani, Lawrence Page, Jacob Kornman, and Bret Johanneson (M&A); Benjamin Rippeon, Bill Smolinski, Edward Grais, and Michael Slomovics (Tax); David Rubinsky, Jamin Koslowe, and Sara Mazurek (ECEB); Steve DeLott (Insurance); David Blass, Meredith Abrams and Nicolas Valderrama (Regulatory); Dennis Loiacono (Real Estate); Lori Lesser and Bobbie Burrows (IP); Ken Wallach and Jessica Asrat (Capital Markets); Toby Chun and Noreen Lavan (Environmental); Malcolm Tuesley, Mark Skerry, Claire DiMario and Taylor Wettach (FDI); Vanessa Burrows and Jacob Madden (HIPAA); Erica Rozow and Jeanne Annarumma (ERISA); and Peter Guryan and Richard Jamgochian (Antitrust).

Simpson?Thacher?represented Barings,?Macquarie?and Bank of Ireland on a financing in connection with the investment by IK Partners in?Sansidor. Sansidor?is a fast-growing testing,?inspection?and related services (“TIS”) provider. It comprises 18 companies in The Netherlands and has nearly 400 employees and serves over 9,000 clients. IK Partners is a European private equity firm focused on investments in the Benelux,?DACH, France,?Nordics?and the UK. Since 1989, IK has raised more than €17 billion of capital and invested in over 190 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. The Simpson?Thacher?team included Hadrien Servais, Jacob Durkin, Eline Souffriau and Brian Bodensteiner (U.K. Credit).

Simpson Thacher was recognized in multiple categories at?TMT Finance's M&A USA Awards 2024. The Firm was named "Legal Advisory Trailblazer" and was also named "Digital Infrastructure Legal Advisor (Value)" for having advised on the most digital infrastructure deals by value over the past year. Additionally, the Firm was recognized in several "Deal of the Year" categories, including "Towers Deal of the Year," "Digital Infrastructure Mid-Market Deal of the Year" and "Fiber Deal of the Year." Read more: https://lnkd.in/eJ5JMmiy

Simpson Thacher is representing EQT and its portfolio company, EdgeConneX, in connection with a substantial minority investment in EdgeConneX by Sixth Street, a global investment firm with over $80 billion in assets under management and committed capital. EQT Infrastructure will remain the largest shareholder following the closing of the transaction. The transaction is expected to close in Q4 2024 and is subject to customary closing conditions. EdgeConneX is a leading global provider of data center capacity focused on energy-efficient and sustainable designs optimized for AI and large-scale cloud deployments. The Simpson Thacher team included Anthony King, Fred de Albuquerque, Eli Hunt, Sherry Shen, Isabella Correa, Luca Tomasi, Jordon Pollard, Saakna Batbayar and Abby Kieker (M&A); Geoffrey Bailhache, Edward Wilson and Tory Hansen (UK Corporate); David Rubinsky, Gary Tashjian, Joshua Stephens and Sara Mazurek (Executive Compensation and Employee Benefits); Jonathan Goldstein and Bill Smolinski (Tax); Lori Lesser, Nicholas Westbrook, Bobbie Burrows, Celeste Fleetwood, Luqman Meedin and Camilla Gelson-Thomas (Intellectual Property); Sara Razi, Daniel Owsley and Max Fischer-Zernin (Antitrust); Malcolm Tuesley, Michael Kalinin, Thomas Lopez, Samantha Sergent and Ryan Thomas (FDI); Abram Ellis and David Caldwell (Regulatory); Krista McManus and Daniel Knapp (Real Estate); Timothy Mulvihill (Environmental); and Robert Lee and Vandana Harris (Funds).

Simpson Thacher’s London Office recently hosted a half-day “Inclusion Conference” in support of National Inclusion Week in the U.K. The event featured thought-provoking discussions on key diversity and inclusion topics, including authenticity at work, overcoming unconscious bias and strategies for retaining underrepresented talent. Simpson Thacher attorneys participated in this program and Jason Glover, Managing Partner of the Firm’s London office, gave opening remarks. ? Read more: https://lnkd.in/ej_qePH9

Simpson?Thacher?is representing funds managed by affiliates of Blackstone Inc. in connection with its announced acquisition, together with funds managed by Vista Equity Partners, of Smartsheet, Inc. in an all-cash transaction valued at approximately $8.4 billion. Under the terms of the agreement, Blackstone and Vista Equity Partners would acquire all the outstanding shares held by Smartsheet shareholders for $56.50 per share in cash upon the closing of the proposed transaction. The transaction is currently expected to close in the fourth quarter of Smartsheet’s fiscal year ending January 31, 2025, subject to the approval of Smartsheet’s shareholders, the satisfaction of required regulatory clearances and other customary closing conditions. Blackstone will invest in Smartsheet through its flagship private equity vehicle and its private equity strategy for individual investors. Smartsheet is a modern enterprise work management platform trusted by millions of people at companies across the globe, including approximately 85% of the 2024 Fortune 500 companies. The Simpson?Thacher?team includes Anthony Vernace, William Allen, Felicity Bell and Michel?Stuebi?(M&A); Greg Grogan and Hannah Daniels (Executive Compensation and Employee Benefits); Sophie Staples, Matthew Lester and Sean Largey?(Tax); Lori Lesser, Dewey Kang and Chandler Gerard-Reimer (Intellectual Property); Peter Guryan and Richard Jamgochian?(Antitrust); Brian Gluck and Adam Moss (Credit); and Krista McManus and Dennis Loiacono (Real Estate).

The Firm is representing Blackstone Real Estate in connection with its proposed sale of G6 Hospitality, the parent company of the Motel 6 and Studio 6 brands, to OYO, for $525 million. The transaction is expected to close in the fourth quarter of 2024, subject to the receipt of regulatory approvals and satisfaction of other customary closing conditions. G6 Hospitality is a leading economy lodging franchisor with nearly 1,500 economy lodging locations under the iconic Motel 6 brand and the Studio 6 Extended Stay brand in the United States and Canada. OYO is a global platform empowering entrepreneurs and small businesses with hotels and homes by bringing easy-to-book, affordable and trusted accommodation to customers around the world. Since its launch in the region in 2019, OYO has steadily expanded its footprint in the United States, currently operating over 320 hotels across 35 states. The Simpson Thacher team includes Anthony King, Quinn Cronan, Michael Chen, Haley O'Connor and Aydin Benoit-Savci (M&A); Krista Miniutti (Real Estate); Brian Gluck and Dennis Durkin (Credit); Nancy Mehlman, Eli Shalam and Michael Leitner (Tax); Jeannine McSweeney and Joshua Stephens (Executive Compensation and Employee Benefits); Peter Guryan, Richard Jamgochian and Maxime Fischer-Zernin (Antitrust); Lori Lesser and Bobbie Burrows (Intellectual Property); David Caldwell (Anti-Corruption); Steven DeLott (Insurance); Michael Isby (Environmental); and Mark Skerry (CFIUS).