Lawfuel – Law News Network – Davis Polk & Wardwell advised Citigroup Global Markets Inc. as sole bookrunner and representative of the underwriters on the offering by American International Group, Inc. (AIG) of 15.4 million common shares of IPC Holdings, Ltd. for $415.7 million. AIG founded IPC Holdings in 1993, and the sale represented approximately 24.2% of IPC Holdings’ outstanding common shares and all of AIG’s interest in IPC Holdings. The common shares are quoted on the Nasdaq Global Select Market under the symbol “IPCR.”
IPC Holdings, based in Bermuda, provides property catastrophe reinsurance and, to a limited extent, property-per-risk excess, aviation (including satellite) and other short-tail reinsurance on a worldwide basis.
The Davis Polk team included partner Ethan T. James and associates Jeffrey Pohlman, David M. Cook and Garima Nahar. Partner William H. Weigel and associate Lisa Mahle provided tax advice. Damian Kasprzyk was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office.
The Knot, Inc. Secondary Common Stock OfferingAugust 18, 2006
Davis Polk & Wardwell advised a subsidiary of Comcast Corporation and The Comcast Foundation as selling stockholders of an aggregate of 4,025,590 shares of common stock of The Knot, Inc. in an SEC-registered offering. The aggregate proceeds from the sale of such shares was approximately $64.4 million.
The Knot is a leading lifestage media company targeting couples planning their weddings.
The Davis Polk corporate team included partner Bruce K. Dallas and associates Michael Nordtvedt, Adrian Yeo and Sarvenaz Madi. Cari M. Hebel was the legal assistant for the transaction. All members of the Davis Polk team work in the Menlo Park office.