Ballard Spahr LLP is advising the city of Philadelphia in its sale of Philadelphia Gas Works for $1.86 billion to UIL Holdings Corp. (UIL) Sullivan & Cromwell LLP is advising UIL.
Gregory L. Seltzer, a partner at Ballard Spahr, was the lead negotiator and M&A counsel for the city on the transaction. Other Ballard Spahr partners on the deal included Shannon D. Farmer, litigation; Joanne Phillips, real estate; Brian M. Pinheiro, business and finance; and Valarie J. Allen, public finance.
The S&C team on the transaction includes Joseph B. Frumkin and George J. Sampas, corporate; S. Neal McKnight and John E. Estes, financing; Matthew M. Friestedt, executive compensation and benefits; Mark F. Rosenberg, insurance; and Ronald E. Creamer Jr., tax.
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Simpson Thacher, Clifford Chance Advise on Tyco Sale to Carlyle
Simpson Thacher & Bartlett LLP and Kim & Chang advised Tyco International Ltd. (TYC), which agreed to sell its fire and security business in South Korea to Carlyle Group LP for about $1.93 billion. Clifford Chance LLP and Lee & Ko are the legal advisers for Carlyle.
Simpson Thacher corporate partner Alan Klein is leading the team, which also includes partners Jin Park, corporate; Lori Lesser, IP; Rob Holo, tax; and Sinead O’Shea, credit.
Tyco, based in Switzerland, is selling Tyco Fire & Security Services Korea Co. and subsidiaries that form the ADT Korea security business, the company said yesterday in a statement. The transaction is the biggest private-equity buyout deal in U.S. dollar value in Korea since 2008, according to Carlyle, a Washington-based asset-management firm.
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Consumer Financial Protection Bureau Lawyer Joins Dentons
Dentons said that Richard B. Horn, formerly senior counsel and special adviser with the Consumer Financial Protection Bureau, joined the capital markets practice as a partner in the Washington office.
Horn was a lawyer on the Treasury Department’s CFPB Implementation Team during the establishment of the bureau, the firm said in a statement. Most recently, he led the bureau’s final rulemaking for the integrated disclosures under the Truth in Lending Act and the Real Estate Settlement Procedures Act, Dentons said.
“Rich was a key architect of one of the most important solutions to the financial crisis,” Stephen Kudenholdt, co-leader of Dentons’s capital markets group, said in a statement. “We are delighted to welcome him to Dentons.”
The firm also recently added three other former government lawyers, including Seth D. Harris, former acting secretary of labor; Jeff Lane, formerly the assistant secretary for congressional and intergovernmental affairs at the U.S. Department of Energy; and Eugene Degnan, who joins from the Office of Enforcement and Compliance at the U.S. Commerce Department. They will be counsel at the firm.
Jones Day Adds Financial Institutions Partner Stephen Obie
The U.S. Commodity Futures Trading Commission’s Stephen Obie joined Jones Day as a partner in the financial institutions litigation and regulation practice in New York.
At the commission, Obie worked as the regional administrator/regional counsel of the New York office, acting director of the Enforcement Division from 2008 to 2010, and most recently chief trial attorney, the firm said in a statement.
“As we continue to guide clients through the uncertainties they face with the myriad of ever-changing rules and regulations affecting banking institutions globally, Stephen’s intimate understanding of the Commodity Futures Trading Commission and the Commodity Exchange Act will be a valuable additional resource for our clients,” Jay Tambe, co-head of Jones Day’s financial institutions litigation and regulation practice, said in a statement.
King & Spalding Adds to Financial Institutions Practice
King & Spalding LLP recruited debt finance lawyer Ellen M. Snare, formerly a partner at Kirkland & Ellis LLP, in the firm’s financial institutions practice in New York.
Snare represents lenders and borrowers in connection with debt financings, asset-based-lending facilities, restructurings and other matters.
Securities Litigator Michele Rose Joins Goodwin in Washington
Goodwin Procter LLP announced that Michele Rose joined the firm’s securities litigation and white-collar defense group as a partner in Washington. She joins from Latham & Watkins LLP, where she was a partner.
Rose will focus on securities and corporate litigation and SEC enforcement and regulatory defense.
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