Global investment management firm BlackRock has announced it will acquire Global Infrastructure Partners (GIP) in a deal worth $12.5 billion. Representing a significant move in the sphere of infrastructure investing, four key law firms provided advisory services for the deal.
According to information provided, Skadden, Arps, Slate, Meagher & Flom and Fried, Frank, Harris, Shriver & Jacobson acted as legal advisors to BlackRock on the purchase. Conversely, Kirkland & Ellis, and Debevoise & Plimpton were the legal counselors to GIP.
The transaction involves $3 billion in cash and roughly 12 million shares of BlackRock common stock. This deal is projected to position BlackRock as one of the more formidable infrastructure investors worldwide. GIP, who manages an asset portfolio of $100 billion consisting of airports, oil pipelines etc., will augment BlackRock’s capabilities following the acquisition. It is noteworthy that this is BlackRock’s largest deal since their purchase of Barclays Global Investors for $13.5 billion in 2009.
Legal professionals at leading law firms played instrumental roles in this major transaction. The team from Skadden was led by partners David Hepp, Matthew Collin, and Patrick Lewis, among others. On the other hand, partner Jonathan Adler helmed the team from Fried Frank, supported by partner Kate Downey and special counsel Harry Kaplan.
This transaction underscores the growing trend for major corporations to diversify their portfolio through strategic acquisitions, as well as highlights the essential role that top-tier law firms play in facilitating these large-scale deals.
For further details on the deal, visit the original report here.