Slaughters lines up with US firms on $6.5bn Chinese investment in Hilton hotels
Weil Gotshal and Simpson Thacher also advising on HNA Group investment
October 27, 2016 at 05:30 AM
2 minute read
Weil Gotshal & Manges and Slaughter and May are advising Chinese conglomerate HNA Group on its $6.5bn (£5.3bn) investment in Hilton Worldwide Holdings – a move that will give HNA a 25% stake in the hotel empire.
HNA is buying its stake from the Blackstone Group, which will keep a 21% stake in the US-based company once the deal completes in the first quarter of 2017.
The Weil team advising HNA includes corporate partners Akiko Mikumo and Charles Ching in Hong Kong, and Jaclyn Cohen in New York; finance partners Soo-Jin Shim in Hong Kong and Danek Freeman in New York; and tax partner Mark Schwed in New York. Washington DC partner John Scribner and New York partner Eric Hochstadt are handling antitrust matters, while Washington DC partner Theodore Posner is working on other US regulatory matters.
Slaughters is acting as international counsel to HNA Group, fielding a team led by Hong Kong partner Clara Choi.
Simpson Thacher & Bartlett New York partner Brian Stadler is leading a team advising Blackstone.
The deal follows HNA's $2bn (£1.6bn) acquisition of US hotel chain Carlson Hotels in April. Through the Carlson deal, HNA also gained a controlling stake in Brussels-based Rezidor Hotel Group. HNA now operates 2,000 hotels worldwide, in addition to about 10 passenger and cargo airlines, and aircraft leasing companies.
Weil has advised on several of HNA's outbound investments during the past two years, as the corporate parent of China's Hainan Airlines went on a global buying spree.
In a separate deal announced earlier this month, Weil, along with Freshfields Bruckhaus Deringer, advised HNA-owned Irish aircraft leasing company Avolon Holdings on its $10bn (£8.2bn) acquisition of New York lender CIT Group's aircraft leasing business. Last year, the firm advised Avolon on its own $2.6bn (£2.1bn) sale to HNA.
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