Simpson thacher and weil scoop getty LBO

Simpson Thacher & Bartlett and Weil Gotshal & Manges have both secured key roles on the leveraged buyout of Getty Images by private equity house Hellman & Friedman.

Craig Adas, the managing partner of Weil’s Silicon Valley office, advised longstanding client Getty Images on the $2.4bn (£1.21bn) transaction. The deal will see Getty Images’ shareholders receive $34 (£17.10) per share. The photographic distributor announced that it was exploring sale opportunities last month.

New York-based Simpson Thacher partner Brian Stadler and Silicon Valley-based partner Chad Skinner are leading the team advising Hellman & Friedman. The firm has been instructed on a number of mandates for the private equity house, including its acquisition of 48 per cent of business services company Emdeon Business Services earlier this month.