New York (January 17, 2006) – LAWFUEL – The Law News Network – White & Case ranked among the top five law firms for global mergers and acquisitions advisory work in 2005, according to two leading league table publishers.
Thomson Financial ranked White & Case fourth in completed deals worldwide, based on deal volume, with 294 successfully completed transactions.
In addition, Bloomberg ranked the Firm fifth as an advisor to M&A principals worldwide in announced deals, as measured by volume, leaping from tenth place in 2004.
“As the Firm’s stellar performance in the 2005 league tables clearly indicates, White & Case continues to remain at the forefront in handling complex M&A transactions, particularly those that involve cross-border legal issues,” said John Reiss, co-head of White & Case’s global M&A group. “Whether handling M&A deals in emerging markets like Romania or Turkey, or handling very large transactions like the $6.5 billion WellPoint acquisition of WellChoice, or the €2.6 billion Starwood/Tattinger merger, we draw on experienced, knowledgeable lawyers throughout our global network to ensure the deal gets done right.”
As global M&A surged in 2005, driven by strong balance sheets, low interest rates and widespread business confidence, White & Case continued to strengthen its role as a key advisor in a significant portion of these transactions, across borders, geographical regions and business sectors. In 2005, 70 percent of the Firm’s completed client transactions involved acquisition targets and acquirers across international borders.
Europe joined the US in driving global M&A in 2005, and White & Case acted as counsel in a major portion of high-profile European deals. According to league tables compiled by independent M&A research group MergerMarket, White & Case ranked tenth for announced European transactions, as measured by deal value.
Among the notable M&A transactions the Firm handled in 2005 were:
• Wellpoint’s acquisition of WellChoice: White & Case advised WellPoint Inc., the nation’s leading health benefits company, on its $6.5 billion acquisition of WellChoice
Inc., the parent of Empire Blue Cross Blue Shield. With this transaction, WellChoice became a wholly owned subsidiary of WellPoint, creating a combined company that will serve more than 33 million medical members as a Blue Cross or Blue Cross Blue Shield licensee in 14 states.
• Starwood Capital Group’s acquisition of Groupe Taittinger and Société du Louvre: White & Case advised Starwood Capital Group on its €2.6 billion acquisition of France’s famed Groupe Taittinger and Société du Louvre, owners and operators of luxury and economy hotels, Taittinger Champagne, Baccarat Crystal and Annick Goutal Perfume.
• Aviation Capital Group’s acquisition of Boullioun Aviation Services: White & Case advised Aviation Capital Group Corp. on its $2.65 billion acquisition of Bellevue, WA-based Boullioun Aviation Services from German bank WestLB AG. The purchase of Boullioun, an aircraft leasing company, helped solidify ACG’s spot as one of the top five aircraft operating lessors in the world.
• LBO France’s acquisition of Terreal: White & Case advised Eurazeo and Carlyle Group in their sale of Terreal S.A. to LBO France, for an enterprise value of €860 million. Terreal is the second-largest terra cotta tile maker in France. The deal was one of a series of major buyouts by private equity houses in the French market.
• Koc Financial Services’ acquisition of Yapi ve Kredi Bankasi: In the largest deal in memory in Turkey, White & Case advised Cukurova Holding A.S., a Turkish investment company, in its sale of a controlling stake in Yapi ve Kredi Bankasi A.S. to Koc Financial Services A.S. for €1.16 billion.
• ACM’s acquisition of Cablecom: White & Case advised United ACM Holdings, a subsidiary of global broadband communications giant Liberty Global, on its $2.19 billion acquisition of Swiss cable company Cablecom Holding AG.
• Jacobs’ acquisition of shares in Adecco: White & Case advised Jacobs Holding in its purchase of 24 million shares in Adecco, the Fortune 500 company and world’s largest recruitment agency, from co-founder Philippe Foriel-Destezet, at a value of €1 billion.
• Acquisition of iPayment: White & Case advised iPayment, Inc., a provider of credit and debit card processing services, in its planned sale to Chairman and Chief Executive Gregory S. Daily and President Carl A. Grimstad. The deal is being financed by debt commitments of $760 million and equity commitments of $206 million.
About White & Case
White & Case LLP is a leading global law firm with nearly 2,000 lawyers in 38 offices in 25 countries. Our clients value the breadth and depth of our US, English and local law capabilities and rely on us for their complex cross-border commercial and financial transactions and for international arbitration and litigation. Whether in established or emerging markets, the hallmark of White & Case is our complete dedication to the business priorities and legal needs of our clients.