Simpson Thacher Represents GSO Capital Partners in Acquisition of Velti plc’s Mobile Market Unit
01.07.14
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The Firm represented GSO Capital Partners in its acquisition of the Mobile Marketing Business Unit of Velti plc, a leading global provider of mobile marketing and advertising technology. The transaction, spanning across six different countries, was effectuated through the purchase by GSO of the secured debt of Velti and its subsidiaries and a credit bid in the United States in a “363” sale in the chapter 11 proceedings of Velti’s US subsidiaries and in an insolvency administration in the United Kingdom with respect to Velti’s UK subsidiaries. GSO also provided debtor in possession financing in the US proceedings. The sale closed on January 3rd.
The Simpson Thacher team working on the transaction includes: Sandy Qusba, Soogy Lee, Morris Massel, Nicholas Baker, Jason Friedman, Daniel Avezbaki and Ryan Song (Bankruptcy and Restructuring/Credit); Andrew Smith, Austen Heim and Shelly Lin (M&A); Jon Goldstein and Vanessa Grieve (Tax); Lori Lesser and Jasmine Kaufman (Intellectual Property); Tristan Brown and Linda Barrett (Executive Compensation and Employee Benefits).