Simpson Thacher Represents S.A.C. Private Capital Group in $1.3 Billion Recapitalization of Cosmos Bank, Taiwan
09.17.07
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The Firm is representing S.A.C. Private Capital Group (SAC PCG) in connection with its announced recapitalization of Cosmos Bank, Taiwan. Under the terms of the agreement, SAC PCG will invest $650 million and GE Money will invest $250 million. Existing bondholders will convert approximately $400 million of debt into equity. When completed, SAC PCG and GE will control 80% of the recapitalized bank. SAC PCG is a newly formed private equity group affiliated with S.A.C. Capital Advisors, which is a multi-strategy, asset management firm.
The Simpson Thacher team working on the transaction includes Amy Cano (Los Angeles) and Ian Ho and Heather Tsai (Hong Kong); Gary Mandel and Kurt Dudas (Tax); and Greg Grogan (Employee Benefits).