Spirit Airlines and Frontier Group Holdings Inc., the parent company to Frontier Airlines, have announced a merger agreement valued at approximately $6.6 billion, including the assumption of net debt and operating lease liabilities. The transaction, announced Feb. 7, is expected to close in the second half of 2022. Miramar, Florida-based Spirit is represented by a Debevoise & Plimpton team led by partners Gregory Gooding and William Regner. Frontier, which is based in Denver, is advised by Latham & Watkins partners Mark Bekheit and Tony Richmond. O'Melveny & Myers advised both carriers on employment matters. Barclays, acting as financial adviser to Spirit, is represented by Sullivan & Cromwell partner George J. Sampas. Citigroup Global Markets Inc., acting as financial adviser to Frontier, is advised by Fried, Frank, Harris, Shriver & Jacobson partners Philip Richter and Roy Tannenbaum.
Transportation & Logistics
February 07, 2022, 9:06 AM