2015 Annual Review

M&A highlights

In 2015, we represented corporate and private equity clients on high-end cross-border deals worldwide.

280 transactions with aggregate total value of US$ 660 billion

Largest German PE deal since 2007
We represented a consortium comprising ADIA, Allianz Capital Partners, Borealis Infrastructure Management, CIC and Munich Re in its acquisition of Autobahn Tank & Rast Holding GmbH, Germany's largest owner and concessionaire of motorway service areas, serving 500 million visitors annually.

US power producer's generating capacity almost doubled
We represented US power producer Dynegy Inc. in its US$2.8 billion acquisition of ownership interest in Midwest generation assets from Duke Energy Corp. The transaction was part of a US$6.25 billion acquisition of power plants from Duke and private equity firm Energy Capital Partners, almost doubling Dynegy's generating capacity less than two years after emerging from bankruptcy protection.

60 Mw hours in millions before transactions and 115 after

Landmark Mexican acquisition
We represented BlackRock and First Reserve in investments in two natural gas Mexico-Texas pipelines, the first major Pemex-sponsored midstream assets to be built in partnership with foreign capital since the approval of Mexico's historic Constitutional Energy Reform.

US$2.9 billion luxury hotel sale
We represented Qatar Investment Authority and Kingdom Holding Company of Saudi Arabia in the US$2.9 billion stock-and-cash sale of FRHI, the parent company of luxury hotel brands Fairmont, Raffles and Swissôtel, to AccorHotels.

Japanese acquisition of US manufacturer
We represented Japan's Panasonic Corporation in the US$1.545 billion acquisition of Hussmann Corporation, a US manufacturer of refrigerated display cases and systems.

Second-largest US cable operator to be created
We represent the financial advisors to Time Warner Cable Inc. in its proposed US$78.7 billion sale to Charter Communications, Inc., which will create the second-largest cable operator in the United States.

Pharmaceutical and healthcare megadeals
We represented Hikma Pharmaceuticals in acquiring German drug maker Boehringer Ingelheim's US-based generic drug business.

We represented Omnicare (NYSE: OCR) in its US$12.9 billion sale to CVS Health Corp.

We are representing Anthem, Inc. in its pending US$54.2 billion acquisition of Cigna Corporation, a combination that will create a premier health benefits company with critical diversification and scale to lead the transformation of healthcare delivery for consumers.