The Firm is representing affiliates of The Blackstone Group, as part of a consortium of bidders including Centerbridge Partners L.P. and Paulson & Co., Inc., in their proposed $3.925 billion cash acquisition of the business, assets and properties of certain affiliates of Extended Stay Inc. pursuant to a Chapter 11 auction. The consortium’s bid prevailed at an auction held by the debtors in bankruptcy on May 27, 2010. The bid is subject to approval by the bankruptcy court. The Firm also represented an affiliate of The Blackstone Group in its acquisition of Extended Stay in 2004 and its sale of Extended Stay in 2007.
The Simpson Thacher team working on the transaction includes: Greg Ressa (Real Estate), Ejim Achi (M&A), Peter Gilman, Shannon O’Sullivan, Michael Sabin and Ekwutozia Nwabuzor (Funds), Peter Pantaleo, Mark Thompson and Jason Friedman (Bankruptcy), Bruce Angiolillo, Bryce Friedman and Andrew Cattell (Litigation), John Hart, Nancy Mehlman and Jason Vollbracht (Tax) and Jeanne Annarumma (Executive Compensation and Employee Benefits).