Alston & Bird and Ropes among firms called up for $8bn Veritas purchase
Bakers and A&O also handed roles as The Carlyle Group buys software company Veritas
August 12, 2015 at 03:20 AM
3 minute read
A transatlantic roster of firms is advising on The Carlyle Group's $8bn (£5.1bn) purchase of Veritas following the software company's split from Symantec.
Atlanta headquartered Alston & Bird is serving as lead counsel on the deal for Carlyle with corporate partners Mark Kelly and Scott Kummer and tax partner John Baron.
The asset manager has turned to Latham & Watkins for advice on the debt financing aspects of the deal with the firm fielding a team led by Washington DC corporate partners Patrick Shannon and Jason Licht. The deal team also includes finance partners Jeffrey Chenard and Scott Forchheimer, antitrust partner Marc Williamson and tax partner Cheryl Co.
The acquisition sees The Carlyle Group purchase Veritas from Symatec in a $8bn (£5.1bn) all-cash deal. The deal is receiving further investment from GIC Private Limited, the Singapore government's sovereign wealth fund.
Allen & Overy is advising Carlyle on the non-US aspects of the deal. The team is being led by corporate partners Gillian Holgate and Karan Dinamani.
The broader magic circle team is made up of six partners advising on tax, employment, pensions, real estate and commercial operations. Hong Kong partner Bernardine Lam is providing Hong Kong and China-related legal advice to Carlyle.
In addition Covington & Burling partners Mark Plotkin and David Fagan are advising on regulatory issues.
GIC has turned to Ropes & Gray for advice on its investment with a team led by New York private equity partner Anthony Norris and finance partner Stefanie Birkmann.
Sidley Austin is providing US regulatory counsel to the fund with a team including Washington DC partners James Mendhenhall and Howard Stanislawski.
Baker & Mckenzie is advising Symatic on the international law aspects of the deal with a US team led by Partners Matthew Gemello, Irina Shestakova, Kirsten Malm and Susan Eandi.
Symantec has also turned to Fenwick & West for legal advice on the deal. The corporate deal team from the firm includes partners Gordon Davidson, Doug Cogen, David Michaels and Andrew Luh. The executive compensation and employee benefit aspects are being handled by the firm's practice chair Scott Spector, alongside partner Blake Martell. Fenwick's antitrust chair Mark Ostrau and trademark chair Sally Abel are also advising.
The firm is further providing legal counsel on the technology, patent and tax aspects of the agreement with partners Stephen Gillespie, Brian Hoffman, David Schumann and Michael Solomon, Andrew Kim, respectively.
Bank of America Merrill Lynch, Morgan Stanley & Co and UBS Investment Bank are serving as financial advisers to both Carlyle and GIC.
The deal is still subject to regulatory approval and is expected to close towards the end of the year.
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