Latham Represents Blackstone Credit & Insurance in Financing for ContextLogic’s Acquisition of gChem for US$850 Million

ContextLogic Holdings Inc. (OTCQB: LOGC) (ContextLogic) has announced that ContextLogic Holdings, LLC and its newly formed subsidiary GCH Buyer, Inc. have entered into a definitive agreement to acquire the holding company of Gaylord Chemical, L.L.C. and its subsidiaries (collectively, gChem) from investment funds managed by EagleTree Capital and their co-investors. The transaction values gChem at an enterprise value of US$850 million. A debt financing commitment led by Blackstone Credit & Insurance, comprising a US$250 million term loan and a US$25 million revolving credit facility, will be used to finance the acquisition.

Latham & Watkins LLP represents Blackstone Credit & Insurance in the financing with a team led by Stelios Saffos, Global Chair of Latham’s Capital Markets and Hybrid Capital practices, Peter Sluka, Global Co‑Chair of the Hybrid Capital Practice, partners Michael Waldman and Salvatore Vanchieri, and counsel Katherine Page, with associates Ian Lachow and Jason Wang. Advice was also provided on executive compensation, employment, and benefits matters by partner Benjamin Rosemergy, with associate Tayler Evan Daniels; on data and technology transactions matters by associates Victoria Allen and Sarah Zahedi; on environment, land, and resources matters by partner Tom Lee, with associate Brian McCall; on FDA matters by counsel Chad Jennings; and on tax matters by partner Bora Bozkurt, with associate Sam Yang.