White & Case advises Altria Group on its US$2.75 billion acquisition of NJOY Holdings, Inc.
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Global law firm White & Case LLP has advised Altria Group, Inc. on its US$2.75 billion deal to acquire NJOY Holdings, Inc. Under the agreement, which includes an additional contingent payment of up to US$500 million depending on the regulatory outcome related to certain NJOY products, Altria will gain full global ownership of NJOY's e-vapor product portfolio, including leading brand, NJOY ACE, which is currently the only pod-based e-vapor product with market authorizations from the US Food and Drug Administration.
The White & Case M&A team was led by partners Chang-Do Gong and Kristen Rohr, and included M&A associates Jane Kim, Samuel Spiers, Jennifer Lee and Catherine McNally (all in New York). The team also included Employment, Compensation & Benefits partner Henrik Patel, counsel Kenneth Barr (both in New York) and associate Sadi Moradi (Houston); Tax partner David Dreier (New York) and associate Leslie Lin (Houston); Real Estate partner Steven Lutt and associate Christian Berger (both in New York); Environment & Climate Change partner Seth Kerschner (New York) and counsel Laura Mulry (Los Angeles); Data, Privacy & Cybersecurity partner F. Paul Pittman (Washington, DC); International Trade partner Richard Burke and associate Brittany Henderson (both in Washington, DC); White Collar partner Daniel Levin (Washington, DC) and associate Gabriella Margaux Perez Klein (New York); Antitrust partners Rebecca Farrington and Kathryn Mims (both in Washington, DC), and associates Tola Oyeyemi (New York) and Aishwarya Jha (London); and Debt Finance associate Evan Rahn (Chicago). Law clerk Sahra Nizipli assisted on the matter.
White & Case previously advised Altria Group on its US$1.2 billion agreement to sell its Ste. Michelle Wine Estates business to Sycamore Partners Management in 2021.
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