Achievements

Latham’s Latin America Practice represented TC Energía Mexicana’s joint global coordinators, lead arrangers, and bookrunners in a US$2.3 billion credit facility that supports the Mexican government’s priorities to supply natural gas to the central and southeast regions of Mexico. The credit facility will go toward the development of the TGNH Southeast Gateway Pipeline, a US$4.5 billion offshore natural gas pipeline project.

Latham litigators successfully won their motions for summary judgement on behalf of client Fédération Internationale de Natation (FINA), now World Aquatics, in a pair of high-profile antitrust lawsuits brought by the International Swimming League and a putative class of elite swimmers. Plaintiffs alleged that FINA leveraged its position as the global governing body for aquatic sports to prevent the creation of a top-tier professional swimming league. The California federal court sided with Latham’s argument that World Aquatic's governing rules and alleged conduct did not unreasonably restrain trade.

A cross-border team advised Hong Kong Airlines on its successful US$6.2 billion debt restructuring. The restructuring will restore the company to financial stability by addressing over 90% of the airline’s financial and operating liabilities, bringing in a new equity investment of HK$3 billion, and streamlining the company’s air fleet and corporate structure. This is the first time a parallel Hong Kong scheme of arrangement and UK restructuring plan have been approved by the courts in the two jurisdictions to effect the restructuring of Hong Kong, PRC, and English law-governed debts.

A Latham global team advised leading independent premium content studio in Europe, Mediawan, in its partnership with Brad Pitt’s storied Hollywood production company, Plan B Entertainment. The deal gives Mediawan a significant stake in Plan B, expanding beyond its core European markets into the US.

Latham advises American Triple I as part of JFK Millennium Partners’ US$4.2 billion deal to develop new international Terminal 6 anchoring JFK International Airport’s north side. JMP is a private company composed of Vantage Airport Group, American Triple I, RXR, and JetBlue. The new Terminal 6 development will feature a 1.2 million square foot terminal, 10 new gates, and more than 100,000 square feet of dining and shopping, airline lounges, and recreational spaces.

A multidisciplinary team advised a consortium investor in connection with Blue Source Sustainable Forests Co.'s historic acquisition of 1.7 million acres of timberland. The deal was valued at approximately US$1.8 billion, and represented one of the largest private conservation-focused forest investments in US history. 

A Latham financing team’s advice to Eventbrite, Inc. in a groundbreaking, tailored financing package with leading investment firm Francisco Partners has been profiled by Private Debt Investor as one of the Top 10 transactions defining private debt. In May 2020, Eventbrite, a global self-service ticketing and experience technology platform, needed capital as the Covid-19 pandemic leveled the live event industry. Francisco Partners provided US$225 million senior secured term loan facility and purchased 2.5% of outstanding common stock of Eventbrite.

Latham advised Great River Hydro in its US$2 billion sale to Hydro-Québec. Great River Hydro owns 13 hydropower generating stations with a total installed capacity of 589 megawatts along New England’s Connecticut and Deerfield rivers in the states of Vermont, New Hampshire, and Massachusetts. 

The firm advised a consortium composed of Evergreen Coast Capital Corp. and Brookfield Business Partners L.P. together with institutional partners, on the acquisition of Nielsen, a global leader in audience measurement, data, and analytics. The all-cash transaction is valued at approximately US$16 billion, including the assumption of debt.

A Paris antitrust team secured a significant victory for client Orange. A decision by the Commercial Chamber of the French Court of Cassation in Paris rejected the appeal brought by Cambio regarding alleged anticompetitive practices of Orange during the liberalization of the internet market between 2001 and 2005.

A cross-office team of Latham’s elite antitrust litigators successfully defended client U.S. Sugar against the U.S. Department of Justice Antitrust Division (DOJ) challenge to the Florida company’s acquisition of Imperial Sugar Co. Latham took the case from complaint to trial in less than five months. This historic victory over the DOJ comes just three weeks after a separate Latham antitrust trial team defeated the U.S. Federal Trade Commission for client GRAIL and its acquirer, Illumina.

Latham antitrust litigators won a four-week trial before the special administrative court of the US Federal Trade Commission (FTC), for Latham client GRAIL and its acquirer, Illumina – the first time the FTC’s administrative law judge has ever ruled against the FTC in a merger case. The decision enables the merged companies to speed the market introduction of GRAIL’s life-saving innovation, Galleri, a non-invasive, multi-cancer diagnostic blood test that can detect cancer early for over 50 different cancer types and profoundly increase early detection of cancer.

Consolidated Edison, Inc. (Con Edison), one of the nation's largest investor-owned energy-delivery companies, has entered into a purchase and sale agreement under which Con Edison agreed to sell its interest in its wholly-owned subsidiary Con Edison Clean Energy Businesses, Inc., and its subsidiaries, to RWE Renewables Americas, LLC, a subsidiary of RWE Aktiengesellschaft. A Latham M&A team represents Con Edison in the transaction valued at US$6.8 billion.

Latham advised SATS Ltd. on its proposed acquisition of Worldwide Flight Services (WFS), the world’s largest air cargo handling firm, from an affiliate of Cerberus Capital Management, L.P. The transaction values WFS at an enterprise value of €2.25 billion, with an equity purchase price of €1.18 billion. The combined group is set to become a global leader in the aviation services sector with more than 200 stations in over 20 countries, covering trade routes responsible for over 50% of all global air cargo volume.

A Washington, D.C.-based appellate team scored a pro bono victory for the National Organization of Veterans Advocates (NOVA) and three of its members in the Federal Circuit. The ruling ensures that veterans who have endured knee replacement surgery as a result of their service are able to receive the benefits to which they are entitled under the governing regulations. More broadly, the US Department of Veterans Affairs (VA) cannot attempt to alter those regulations, and deny veterans’ claims for benefits.

The firm advised Carlyle Global Credit on the financing in support of Turn/River Capital’s take-private acquisition of Tufin®. As part of the transaction, Tufin took advantage of Carlyle’s recently launched Decarbonization-Linked Financing Program. As a result, Tufin may access a certain reduction in the applicable interest rate if the Company meets applicable greenhouse gas emissions reduction targets contained in an Environmental, Social & Governance schedule.

Latham has advised on Thai Life Insurance’s US$1 Billion IPO on the Stock Exchange of Thailand, representing the largest IPO in Southeast Asia to date in 2022. Thai Life Insurance is one of Asia’s largest life insurers. Proceeds from the IPO will be invested to enhance the company's digital technology and marketing, and strengthen its partnership channels and working capital.

Latham helped Cantor Fitzgerald and Howard Lutnick defeat a US$400 million stockholder derivative suit, on all counts. The complaint challenged the 2017 sale of Berkeley Point Financial LLC from a Cantor subsidiary to BGC Partners, Inc. (BGC) and an investment by BGC in a joint venture with Cantor related to commercial mortgage-backed securities. The court held the transaction was entirely fair to BGC’s shareholders and that none of Cantor, Mr. Lutnick, or the members of the Special Committee of BGC directors breached their fiduciary duties.

A Latham London team represented a private equity consortium led by Astorg and Epiris on the £1.6 billion UK Takeover Code offer for Euromoney Institutional Investor Plc, a leading financial news and information business. The consortium will separate Euromoney into two businesses, with Fastmarkets becoming a stand-alone unit owned by Astorg. The remaining Euromoney businesses will be majority controlled by Epiris.

A Washington, D.C.-based pro bono team scored a victory for the Humane Society in a closely watched case in the US Court of Appeals for the D.C. Circuit concerning administrative procedure and horse soring. Based on our arguments, the US Department of Agriculture (USDA) is now required to reinstate a rule providing for more rigorous enforcement of the Horse Protection Act (HPA).

A multidisciplinary Latham team represented the lenders in gas infrastructure company Fluxys and institutional investor EIG's completion of the acquisition of an aggregate 80% equity stake in GNL Quintero S.A. (Quintero). Quintero is a key energy infrastructure business supporting Chile’s decarbonization strategy with a bridging fuel that allows for the reconciliation of economic growth by fostering the uptake of renewables and phasing out coal. Quintero is the largest terminal in Chile for receiving and unloading LNG as well as for its storage and regasification capacities.

Music duo’s 5,000 Non-Fungible Tokens (NFTs) tied to streaming royalties from new album “So Far So Good,” will allow the band’s fans to share music streaming royalty share rights with The Chainsmokers. Latham Los Angeles team-led transaction is unique in demonstrating a viable and transparent Web3 method.