Simpson Thacher Advising Private Equity Consortium in Acquisition of Semiconductors Business of Philips Electronics
08.15.06
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The firm is representing a group of private equity firms lead by Kohlberg Kravis Roberts & Co. and Silver Lake Partners, in their €8.3 billion acquisition of the semiconductors business of Koninklijke Philips Electronics N.V. The private equity consortium will hold 80.1% of Philips Semiconductors and Philips will retain the remaining 19.9% stake. The transaction is expected to close in the fourth quarter.
The transaction is being conducted principally out of the firm's London office, with valuable assistance from lawyers in the firm's Palo Alto and New York offices. STB team includes Greg Conway, Mark Pflug, Tom Wedeles, David Wagner, Juerg Frick and Jon Steitz (M&A); Hartwell Hylton, Nick Shaw, Harald Zeiter (Financing); Steve Todrys, Meredith Jones and Jenifer Marsh (Tax); David Vann, Michael Naughton and Olivier Antoine (Antitrust); Lori Lesser, Philippine Dodd and Kirstie Howard (IP). Clifford Chance Amsterdam provided Dutch legal advice to the consortium.