Simpson Thatcher and Weil in frame on Getty sale

Simpson Thacher & Bartlett and Weil Gotshal & Manges have snared key roles on the leveraged buy-out of Getty Images by private equity house Hellman & Friedman.

Weil Gotshal Silicon Valley managing partner Craig Adas advised long-standing client Getty Images on the $2.4bn (£1.22bn) transaction. Davis Polk & Wardwell partner Dan Kelly advised founder and chairman, Mark Getty.

The deal will see Getty shareholders receive $34 (£17.21) per share. The photographic distributor announced it was exploring sale opportunities last month.

Adas said: “Getty is a very good client for the firm and I have been working closely with them since 1999. The relationship came from Mike Francies in London. When the company relocated its headquarters to Seattle we started to work with them from this office.”

While Weil Gotshal acted for the target in this instance, its Silicon Valley office serves a number of private equity clients including Bridgepoint and Genstar Capital.

Simpson Thacher New York-based partner Brian Stadler and Silicon Valley partner Chad Skinner led the firm’s team advising private equity group Hellman & Friedman on the Getty buy out.

The firm has been instructed on a number of mandates for Hellman & Friedman including its acquisition of 48 per cent of business services company Emdion Business Services earlier this month.

Simpson Thacher was unavailable for comment.