July 09, 2015
Hong Kong-based Nord Anglia Education, Inc. (NYSE: NORD), the world’s leading operator of premium schools, announced that it has completed its acquisition of six schools from Meritas, LLC and certain affiliates for net cash consideration of US$534 million plus US$25 million of deferred consideration. The schools are located in North America, Europe and China. Latham advised Nord Anglia Education in the acquisition and its concurrent equity offering, CHF denominated notes offering and amendment and restatement of its senior secured credit facilities, which the company used to finance the acquisition.
Bryant Edwards, Chair of Latham & Watkins’ Asia practice, said, “We are delighted to continue our long-standing relationship with Nord Anglia Education in this landmark series of transactions. The simultaneous execution of a major acquisition, equity offering, high yield notes offering and bank financing, all involving complex cross-border issues, demonstrates Latham & Watkins’ unique global platform and broad expertise across our practice groups."
Latham advised Nord Anglia Education in these transactions with a mergers & acquisitions team led by Chicago partner Brad Faris and associate Jonathan Solomon, with associates Alan Bakhos and Laura Janowitsch; a capital markets team led by New York partner Marc Jaffe, Hong Kong partner Eugene Lee and associate Dominik Sklenar; and a finance team led by New York partner David Teh, with associates Nicole Fanjul, Colin O’Regan, Shahid Jamil and Tanim Rahman.
Lawyers from Latham's Dubai, Hong Kong, Madrid and Singapore offices advised on local law matters related to the notes offering and credit facilities amendment.