Shearman & Sterling advised Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Bank Plc, J.P. Morgan Securities LLC and Morgan Stanley Senior Funding, Inc. as joint lead arrangers and joint bookrunners in connection with a $5 billion five-year credit facility for Abbott Laboratories. The Shearman & Sterling team included partner Maura O’Sullivan (New York-Finance), counsel Susan Hobart (New York-Finance) and associate Spencer Barrowes (New York-Finance).

New York, NY - Paul Hastings LLP, a leading global law firm, announced today that the firm represented the banks in financing the purchase of BlackBrush Oil & Gas, L.P., an independent oil and gas exploration and development company, by private equity group Ares Management, L.P. (NYSE:ARES).

Shearman & Sterling advised Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC, BNP Paribas Securities Corp., Citigroup Global Markets Inc., Credit Agricole Corporate & Investment Bank, Morgan Stanley Senior Funding, Inc.

Global law firm White & Case LLP has secured victory for its client Turkish conglomerate Cukurova Holding A.S., as a seven-year dispute with Russia's Alfa Group came to an end yesterday when Cukurova regained its controlling interest in Turkcell, the largest mobile telecommunications company in Turkey.

Giving effect to the order that it had won in the Privy Council in March 2014, Cukurova paid US$1.6 billion to redeem the security over the Turkcell shares, financed by a loan from Ziraat Bank, a state-owned Turkish bank.

International law firm Taylor Wessing has advised a syndicate of lenders led by The Royal Bank of Scotland plc as agent and arranger, and also comprising Wells Fargo and Legal & General Pensions, in connection with the refinancing of a portfolio of over 160 multi-let industrial properties in England, Wales and Scotland having a gross asset value of over £1 billion. The portfolio is owned by the Industrial Property Investment Fund, an investment fund managed by Legal & General Property Limited.

Davis Polk advised Citibank, N.A., as administrative agent in connection with a $250 million revolving credit facility and a $250 million delayed draw term loan facility for Magellan RX Management, Inc., a direct subsidiary of Magellan Health, Inc. The proceeds of the loans will be used from time to time for general corporate purposes.

Davis Polk advised J.P. Morgan Securities LLC as sole lead arranger and bookrunner and JPMorgan Chase Bank, N.A. as administrative agent in connection with a $1 billion senior unsecured revolving credit and competitive advance facility provided to The Dun & Bradstreet Corporation, which amends and restates the company’s existing $800 million facility. Dun & Bradstreet will use the proceeds of the amended and restated credit facility for general corporate purposes. 

Ashurst advised DZ BANK Deutsche Zentralgenossenschaftsbank, Frankfurt am Main and Commerzbank Aktiengesellschaft on the financing of the acquisition of ADA Cosmetics (ADA), a leading maker of hotel cosmetics, by private equity investor Ardian (formerly AXA Private Equity). The acquisition comprised subsidiaries in, inter alia, Austria and Switzerland. The parties have agreed not to disclose the financial terms of the transaction. ADA was sold by funds of the US private equity firm The Carlyle Group.

Global law firm White & Case LLP has advised Piaggio & C. S.p.A., the listed Italian manufacturer of motorcycles and scooters, on a €220 million term and revolving credit facility which may be increased to a maximum of €250 million.

The syndicate of banks, which was led by Banca Nazionale del Lavoro as agent and mandated lead arranger, included BNP Paribas as coordinator and Bank of America Merrill Lynch, HSBC, Banca IMI, Mediobanca and UniCredit as mandated lead arrangers.

Ashurst advised J.P. Morgan as financial adviser to AbbVie Inc. on its £32 billion merger with Shire plc. Under the terms of the merger, Shire shareholders will be entitled to receive £24.44 in cash and 0.8960 shares in New AbbVie for each Shire share. Based on AbbVie's 30-day volume-weighted average price of $54.83 to 17 July 2014, the merger terms represent an indicative value of £53.19 per Shire share. The merger is primarily being funded by AbbVie through existing cash resources and a new bridge credit facility.