Simpson Thacher is representing J.P. Morgan Securities Inc., Citigroup Global Markets Inc., Goldman Sachs Credit Partners L.P., Morgan Stanley Senior Funding, Inc. and Bear, Stearns & Co., Inc., as arrangers for $58 Billion of financing in connection with the acquisition of Chrysler by Cerberus Capital Management, L.P. The financing package, the largest raised to date for a private equity acquisition, will be used to refinance existing indebtedness currently provided to Chrysler by its parent, DaimlerChrysler AG, as well as to finance certain operational restructuring initiatives. On May 14th, DaimlerChrysler AG accepted Cerberus' $7.4 billion offer to acquire all of the Chrysler operations.
The Simpson Thacher team for this transaction includes Steve Feder, David Eisenberg, Laura Palma, David Mack, Lauren Donner Chait and Victor Chai, Kerry Konrad (IP), Greg Grogan (ERISA), Mardi Merjian and Andrew Silverman (Real Estate), Michael Isby (Environmental), Alice Eaton (Bankruptcy and ABS), Elisa Alcabes (Litigation and Product Liability), and Sean Austin (Tax).