Cartel Digest


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Stenerson, Higbee and Mossman author ICLG USA Chapter

Partners Todd Stenerson (Washington, DC-Litigation) and David Higbee (Washington, DC-Antitrust), and Associate Rachel Mossman (Washington, DC-Litigation) have authored the USA Chapter for the International Comparative Legal Guides – Competition Litigation 2021.

Magris Resources Canada’s Acquisition of Imerys Assets

Shearman & Sterling represented firm Magris Resources Canada Inc. in connection with its definitive agreement to acquire substantially all of the assets of Imerys Talc America Inc., Imerys Talc Vermont Inc. and Imerys Talc Canada Inc. (collectively, the “North American Talc Business”) for $223 million.

ViacomCBS Sells CNET Media Group

Shearman & Sterling is representing ViacomCBS in the sale of CNET Media Group to Red Ventures, a portfolio of more than 100 digital brands, for $500 million.

Aliende Rodriguez Authors Cartel Chapter in GCR EMEA Antitrust Review

Partner Elvira Aliende Rodriguez and associates Sujin Chan-Allen (both Brussels-Antitrust) and Ruba Noorali (London-Antitrust) have authored the chapter “European Union: Cartels and Leniencey” in the GCR EMEA Antitrust Review 2021 published by Global Competition Review on July 8, 2020. The team wishes to thank Caroline Préel for her contribution.

Altice USA’s Agreement to Sell Stake in LightPath

Shearman & Sterling acted as legal counsel to Altice USA in its agreement to sell 49.99 percent of its LightPath fiber enterprise business to Morgan Stanley Infrastructure Partners for an implied enterprise value of $3.2 billion.

ALD Automotives Joint Venture with Ford

Shearman & Sterling advised ALD Automotive, one of the leading global provider of mobility solution, in connection with the creation of a joint venture with Ford dedicated to provide new integrated fleet leasing and management solutions across Europe under the name of Ford Fleet Management.

JetBlue’s Strategic Partnership with American Airlines

Shearman & Sterling acted as legal advisor to JetBlue Airways Corp. in connection with its entry into a strategic partnership with American Airlines Group. The partnership will create seamless connectivity for travelers in the Northeast U.S. It will also accelerate each airline’s recovery as the travel industry adapts to new trends as a result of the coronavirus pandemic.

Celanese’s Sale of Stake in Polyplastics JV

Shearman & Sterling is advising Celanese on its definitive agreement to sell its 45 percent equity interest in the Polyplastics joint venture to Daicel Corporation for $1.575 billion.

Chevron’s Agreement to Acquire Noble Energy

Shearman & Sterling advised Chevron Corp. (NYSE: CVX) on the antitrust matters related to its agreement to acquire all of the outstanding shares of Noble Energy Inc. (NASDAQ: NBL) in an all-stock transaction valued at $5 billion. The total enterprise value of the deal, including debt, is $13 billion.

MIND ID’s Acquisition of Minority Stake in PT Vale Indonesia

Shearman & Sterling advised Indonesia’s state-owned mining company PT Indonesia Asahan Aluminium (Persero), formally known as Inalum and recently rebranded as MIND ID, on the signing of a share purchase agreement to acquire a 20 percent stake in PT Vale Indonesia from Vale Canada and Sumitomo Metal Mining. This is a high-profile transaction in Indonesia and follows up from Inalum’s acquisition of the Freeport mine in 2018. 

Abertis’ and GIC’s Acquisition of Majority Stake in Red de Carreteras de Occidente

Shearman & Sterling advised Abertis Infraestructuras and Singapore-based institutional investor GIC in their acquisition of a 70 percent stake in Red de Carreteras de Occidente (RCO) from affiliates of Goldman Sachs Infrastructure Partners and an additional 2.3 percent stake held by local investors and pension fund managers (AFORES), minority shareholders in the company.

Genmab’s Broad Collaboration Agreement With AbbVie

Shearman & Sterling LLP advised Genmab A/S in connection with a broad collaboration agreement with AbbVie Inc. to jointly develop and commercialize three of Genmab's early-stage investigational bispecific antibody product candidates and enter into a discovery research collaboration for future differentiated antibody therapeutics for cancer. Based on potential value, this agreement represents one of the largest oncology partnerships on record.

Bunge Limited’s Sale of Assets to Zen-Noh Grain

Shearman & Sterling represented Bunge Limited (NYSE:BG) in its agreement to sell 35 U.S. interior elevators to Zen-Noh Grain Corporation. The completion of the sale is subject to customary closing conditions, including regulatory approval.

Shearman & Sterling Wins Five China Business Law Awards 2020

Shearman & Sterling won five awards from China Business Law Journal’s China Business Law Awards 2020, in the categories of Anti-bribery & Anti-corruption, Asset Management, Capital Markets (Overseas), Energy & Natural Resources and Technology & Telecom.