The Firm represents The Blackstone Group in its $3.24 billion cash acquisition of Wyndham International, Inc. Wyndham is an AMEX-listed company that owns, leases, manages or franchises 142 upscale and luxury hotel and resort accommodations in the U.S., Canada, Mexico, the Caribbean and Europe. The transaction is subject to shareholder approval and other customary conditions.
The transaction is the largest in a series of hotel company acquisitions in which the Firm has represented Blackstone, including Blackstone’s buyouts last year of Extended Stay America, Prime Hospitality and Boca Resorts.
The transaction will be financed with a $2.8 billion mortgage financing. The proceeds of the financing, together with equity from Blackstone, will be used to pay the merger consideration and refinance existing indebtedness.
The Simpson Thacher team working on the transaction includes: Brian Stadler, David Butow, Ann Walker and Kelly Norton (M&A); Greg Ressa, Krista Miniutti, Alison Ando, Kara Fricke, Eric Quarfordt, Amy Abbazia, Jenny Lee and Ingrid Seradarian (Real Estate); John Hart and Thomas Gray (Tax); Frances Adkins (Employee Benefits); Joe Tringali and Michael Naughton (Antitrust); Mike Isby (Environmental); Fagie Hartman and Jacqueline Rosenblum (Labor); Daniel Frommer and Noah Leibowitz (Intellectual Property); and Yi Gao, Jeffrey Graff, Heesun Kang, Emily Kimball, Auren Kule, David Monteiro, Olivia Wang and David Weiner (Summer Associates).