DLA Piper represents WP Carey in merger with its affiliate CPA:16
DLA Piper has represented WP Carey, a publicly traded real-estate investment trust (REIT), in a merger with CPA:16, its publicly held non-traded REIT affiliate, in a transaction valued at approximately $4bn (£2.6bn).
WP Carey provides long-term sale-leaseback and build-to-suit financing for companies worldwide and owns and manages an investment portfolio totalling approximately $15.2bn.
Following the merger, which is expected to close in the first quarter of next year, the combined company is expected to have an equity market capitalisation of approximately $6.5bn and a total enterprise value of approximately $10.1bn.
The combined portfolio will consist of more than 700 properties with 86 million square feet of corporate real-estate leased to 231 companies around the world.
The DLA Piper team was led by New York partner Christopher Giordano, who also played a significant role in arranging WP Carey’s reorganisation into a REIT in October 2012, and included Robert LeDuc, Sanjay Shirodkar and Jon Venick.
News from DLA Piper
News from The Lawyer
Briefings from DLA Piper
DLA Piper’s privacy experts have compiled a list of dos and don’ts for addressing privacy compliance in M&A transactions.
On 22 July 2014, a new law amending the Law on Data Protection and Law on Information was signed off by the Russian president and thus was officially adopted.
Analysis from The Lawyer
Shearman & Sterling is making its presence felt in the City, squaring up to magic circle firms and looking to muscle in on key relationships. Private equity house Bridgepoint is one outfit that has had its head turned by the US firm.
A new breed of lawyer is smoothing the path for companies entering emerging or unstable jurisdictions