The transactions highlighted below are representative of Greenhill engagements. In addition, the Firm has completed many engagements that were not publicly-disclosed.
Recent Transactions
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09-Aug-02
$17.6 billion
Target:
Adelphia Communications
Acquiror:
Time Warner Inc. and Comcast Corp.
Advised the Unsecured Creditors of Adelphia Communications representing $14.5 billion of value in Adelphia’s Chapter 11 proceedings. Advised on the sale of Adelphia’s assets to Time Warner and Comcast for $17.6 billion
04-Apr-03
$6.1 billion
Target:
Dynegy Inc.
Advised Dynegy Inc., a leading integrated energy company involved in power generation, gas marketing and processing and regulated energy delivery, on restructuring alternatives during a period of significant pending debt maturities and liquidity constraints. The assignment culminated in a successful renegotiation and extension of Dynegy’s credit facilities
29-Aug-04
$3.8 billion
Target:
LNR Property Corporation
Acquiror:
Cerberus Capital Management, L.P.
Advised the Special Committee of the Board of Directors and the Board of Directors of LNR Property Corporation, one of the US’ leading real estate investment, finance and management companies, on its sale to Cerberus Capital Management, L.P. and its real estate affiliate, Blackacre Institutional Capital Management, LLC
03-Apr-06
$3.7 billion
Target:
Verizon Communications Inc.
Acquiror:
América Móvil and Telmex
(various assets)
Provided independent valuation services in connection with the acquisition by América Móvil and Telmex of a 100% stake in Verizon Dominicana, an approximate 52% stake in Telecomunicaciones de Puerto Rico and an approximate 28.5% stake in Compania Anónima Nacional Teléfonos de Venezuela
03-Aug-06
$6.0 billion
Target:
Reckson Associates Realty Corporation
Acquiror:
SL Green Realty Corporation
Advised the independent directors of Reckson, a real estate investment trust specializing in properties located in New York City and the surrounding Tri-State area, on the sale of Reckson to SL Green
10-Aug-06
$NA
Target:
Forest City Ratner
Acquiror:
Forest City Enterprises Inc.
Advised Forest City Enterprises, Inc. on the restructuring of its business relationship with its New York City affiliate Forest City Ratner
18-Apr-07
$950 million
Target:
Trans Mountain Pipeline System
Acquiror:
Kinder Morgan Energy Partners, L.P.
Advised Independent Committee of the Board of Kinder Morgan Energy Partners on the acquisition of Trans Mountain Pipeline System, an ~800 mile pipeline which transports crude oil and refined products from Alberta to British Columbia and Washington State
30-Jun-07
$52.0 billion
Target:
BCE Inc.
Acquiror:
Teacher's Private Capital, Providence Equity Partners Inc. and Madison Dearborn Partners, LLC
Advised the Board of BCE on a review of a range of strategic alternatives that culminated in an agreement to sell to a consortium consisting of Teacher's Private Capital, Providence Equity Partners and Madison Dearborn Partners for $52.0 billion that was ultimately terminated
23-Mar-09
$NA
Target:
BearingPoint, Inc.
Acquiror:
Various
Advised BearingPoint, Inc. on the sale of substantially all of its assets, pursuant to a Section 363 process
01-May-09
$65 million
Target:
euNetworks Group Limited
Advised euNetworks Group Ltd, a Singapore listed operator of a fibre telecommunications network in Europe, on a repurchase at a discount of the majority of its outstanding convertible bonds, financed by a placement and rights issue
21-Jul-09
$2.8 billion
Target:
Quebecor World Inc
Acted as financial advisor to Quebecor World on its CCAA / Chapter 11 restructuring
10-Aug-09
$1.5 billion
Target:
Dynegy, Inc.
Acquiror:
LS Power Equity Partners
Advised Dynegy, Inc., a merchant power generator, on its sale of 9 power plants to LS Power Equity Partners in exchange for cash and Dynegy shares
10-Jun-10
$580 million
Target:
Tishman Speyer Washington D.C. Portfolio
Advised term loan and credit facility lenders to the Tishman Speyer partnership holding a portfolio of 28 office buildings in Washington D.C. and the surrounding area on a restructuring which resulted in payoff of the facilities in full
30-Jun-10
$820 million
Target:
Trident Resources Corporation
Advised Chilton Investment Company on Trident’s financial restructuring and emergence from CCAA / Chapter 11 bankruptcy protection including the negotiation of a new equity investment
09-Nov-10
$27.0 billion
Target:
General Growth Properties Inc.
Advised the 2006 Credit Facility Lenders, the largest class of unsecured debt with claims in excess of $2.8 billion, in connection with the Chapter 11 proceedings of mall REIT GGP, which resulted in cash payoff of the facilities in full
02-Dec-10
$NA
Target:
IAC / InterActiveCorp.
Advised the Special Committee of the Board of Directors of IAC, a leading Internet company, on the repurchase of all IAC shares owned by Liberty Media in exchange for a combination of cash and two operating businesses, Evite and Gifts.com
04-Feb-11
$420 million
Target:
Bosque Power Company
Advised Bosque Power Company, a natural gas-fired power plant located in Texas, on its negotiations with lenders and restructuring
08-Dec-11
$NA
Target:
US Department of Energy
Advised Herb Allison in an independent review of a $35.9 billion energy loan portfolio
13-Dec-11
$345 million
Target:
Cabot Microelectronics Corporation
Advised Cabot Microelectronics Corporation on its new capital management initiative, including a leveraged recapitalization via a special dividend
28-Jun-12
$275 million
Target:
Village Roadshow Entertainment Group
Advised Village Roadshow Entertainment Group on its $275 million mezzanine and equity capital raise from a group of investors
06-Aug-12
$6.2 billion
Target:
Tennessee Gas Pipeline and 50% of El Paso Natural Gas
Acquiror:
Kinder Morgan Energy Partners, L.P.
Advised the Independent Directors of the Board of Kinder Morgan Energy Partners on the acquisition of Tennessee Gas Pipeline, a ~14,000 mile natural gas pipeline system connecting Texas, Louisiana, and the Gulf of Mexico with the northeastern US, and 50% of El Paso Natural Gas, a ~10,000 mile natural gas pipeline system connecting the Permian Basin in Texas / New Mexico with key consumer markets in Arizona, California and Mexico
13-Aug-12
$32 million
Target:
Journal Communications, Inc.
Advised the Board of Directors of Journal Communications, Inc., a diversified media company with newspaper and broadcasting interests, in connection with the repurchase of 100% of the issued and outstanding shares of its Class C Common Stock from successors to the Company’s founding family
11-Dec-12
$862 million
Target:
TNS, Inc.
Acquiror:
Siris Capital Group
Advised the Special Committee of the Board of Directors of TNS, Inc., a leading global provider of data communications and interoperability solutions, on its sale to Siris Capital Group, a private equity firm focused on complex, control equity investments in the telecom, technology and technology-enabled business service sectors
01-Mar-13
$1.7 billion
Target:
50% of El Paso Natural Gas and 50% of El Paso Midstream Investment Company
Acquiror:
Kinder Morgan Energy Partners, L.P.
Advised the Independent Directors of the Board of Kinder Morgan Energy Partners on the acquisition of 50% of El Paso Natural Gas, a ~10,000 mile natural gas pipeline system connecting the Permian Basin in Texas / New Mexico with key consumer markets in Arizona, California and Mexico, and 50% of El Paso Midstream Investment Company which includes oil and gas gathering and processing assets in the Altamont region in Northeast Utah and in the Eagle Ford shale play in Southwest Texas
01-Apr-13
$NA
Target:
Morgans Hotel Group
Advised the Special Transaction Committee of the Board of Morgans Hotel Group on the transfer of its ownership interests in Delano South Beach and The Light Group to The Yucaipa Companies in exchange for the cancellation of certain securities held by Yucaipa (debt, preferred stock and warrants) together with a $100 million rights offering backstopped by Yucaipa