Kirkland, Sidley win €216m bank buy-out roles
Kirkland & Ellis and Sidley Austin have advised on Allied Irish Bank's acquisition of a 49.99% stake in Bulgarian American Credit Bank (BACB) for €216m (£166m). The deal, which is set to close over the next few months, has seen Sidley London corporate partner Thomas Thesing lead the team advising Allied Irish.
March 05, 2008 at 09:38 PM
2 minute read
Kirkland & Ellis and Sidley Austin have advised on Allied Irish Bank's acquisition of a 49.99% stake in Bulgarian American Credit Bank (BACB) for €216m (£166m).
The deal, which is set to close over the next few months, has seen Sidley London corporate partner Thomas Thesing lead the team advising Allied Irish.
Thesing worked opposite Chicago-based corporate partner Scott Falk at Kirkland, who advised Bulgarian American Enterprise Fund (BAEF) on the sale of the 49.99% stake in BACB to Allied Irish.
Falk has close ties with the BAEF and serves as outside general counsel to the fund, which was set up by the US Congress to invest in the development and expansion of the economy in Bulgaria.
It is the second deal Thesing has advised Allied Irish on involving a US federal fund, as well as being only the firm's second M&A mandate for the bank. Thesing also advised the Irish bank last year on its acquisition of AmCredit, the mortgage finance business of the Baltic American Enterprise Fund, for €40m (£31m).
That acquisition of AmCredit, which also handed a role to Weil Gotshal & Manges, delivered Allied Irish a presence in Latvia, Lithuania and Estonia.
Thesing said: "The funds are interesting in themselves and the deals in turn are interesting off the back of that. It has been great to work with the bank on these transactions and we would be delighted to work with them in the future."
BACB was established in 1996 and listed on the Bulgarian Stock exchange in March 2006.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Slaughter and May and A&O Shearman Advise as Latest UK Company Goes American
3 minute read
Linklaters Continues Renewable Energy Hot Streak With Latest Offshore Wind Farm Project
2 minute read
Trio of Firms Act On Chinese Insurer Ping An's $1.7B Stake Acquisition In Healthcare Arm
Trending Stories
- 1Law Firms Expand Scope of Immigration Expertise, Amid Blitz of Trump Orders
- 2Latest Boutique Combination in Florida Continues Am Law 200 Merger Activity
- 3Sarno da Costa D’Aniello Maceri LLC Announces Addition of New Office in Eatontown, NJ, and Named Partner
- 4Friday Newspaper
- 5Public Notices/Calendars
Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
