MIAMI and FT. LAUDERDALE (May 21, 2014) – International law firm Greenberg Traurig announced that 12 of its Florida-based attorneys were recognized as finalists for the Daily Business Review's 2014 Top Dealmakers of the Year at the publication's Annual Dealmakers of the Year Awards Luncheon on Friday, May 16, at the Four Seasons Hotel Miami. A special report recognizing the Top Dealmakers and Top Dealmaker finalists was published in the Daily Business Review.
Every year, American Lawyer Media recognizes those who, according to its nomination and award guidelines, closed the biggest, most significant and complex deals in South Florida during the previous 12 months. The winners were selected by The Daily Business Review’s editorial staff members from hundreds of nominations and reported transactions. Selections were based on the size and complexity of the deals.
Top Dealmaker Finalists:
Corporate Domestic
- Miami Corporate & Securities Shareholders David A. Barkus and Aaron T. Slavens represented longtime client MasTec in its $103 million acquisition of Big Country Energy Services, Inc., a Canadian oil and gas pipeline and facility construction company. The attorneys overcame complex challenges of the deal, including handling a complex cross-border transaction involving disparate laws between Canada and the United States – including privacy, antitrust, regulatory and restrictive covenants – in a narrow 30-day window.
- Fort Lauderdale Corporate and Securities Shareholder Kara L. MacCullough was hired as outside securities counsel to New York-based International Flavors & Fragrances Inc. (NYSE: IFF), a leading global creator of flavors and fragrances, to guide the company through its first public debt offering of $300 million aggregate principal amount of 3.2% senior notes due 2023. The company wanted to use the net proceeds from the sale of the notes for general corporate purposes, including working capital. MacCullough and her team faced many challenges, including a tight deadline due to an upcoming blackout period as well as an international banking crisis and concerns over skyrocketing interest rates. When completed, the deal was so well-received that the company had orders for almost $2 billion, but rather than upsizing the deal, the company used the demand to lower bond pricing.
Corporate Finance
- Miami Corporate & Securities Shareholders Ira N. Rosner and Drew M. Altman represented longtime client MasTec in connection with its issuance of $400 million of 4.875% Senior Notes due 2023. The offering is considered historic because it represents one of only a very few high yield offerings that have ever been priced with an interest rate of less than five percent.
- Miami Corporate and Securities Shareholder Lorne S. Cantor was part of the firm’s legal team representing Hard Rock International (HRCAF: US) in arranging $640 million in new financing and a $525 million tender offer in outstanding notes. The attorneys had to go into two different markets, work under tight five-week deadlines, and conduct due diligence on all aspects of the business, including negotiating the credit agreement and preparing all of the collateral. The new financing is being used to help finance some of the company’s outstanding debt and to pay for future investments and general corporate operations. Miami Corporate and Securities Shareholder Drew M. Altman was an integral part of the team.
Corporate International:
- Fort Lauderdale Corporate & Securities Shareholder Donn A. Beloff represented Azteca Acquisition Corp., a special-purpose acquisition company, in a merger of Azteca, Cine Latino, and lnterMedia Español Holdings with Hemisphere Media Group Inc. (NASDAQ: HMTV). The transaction is valued at $400 million. Beloff used his knowledge and experience with SPAC deals to assemble and lead a strong multi-office legal team, which worked around the clock to identify the most favorable tax treatments for parties located in the U.S. and in Mexico, negotiate a merger agreement, file and clear a joint proxy/registration statement with the SEC, and obtain stockholder and warrant holder approval of the transaction in approximately three months.
- Robert L. Grossman, a Miami Shareholder and a Co-Chair of the firm’s Israel Practice, led the legal team representing PROLOR Biotech, Inc., a Nevada corporation with headquarters in Israel, in connection with the sale of its business to OPKO Health, Inc. In a multi-practice group and multi-office effort, the team assisted PROLOR in navigating complex issues of Nevada corporate law and federal securities law. The transaction, valued at approximately $604 million, was structured as a stock-for-stock merger in which each share of PROLOR common stock was exchanged for 0.9951 of a share of OPKO common stock.
Distressed Real Estate
- Miami Business Reorganization and Financial Restructuring Practice Co-Chair Mark D. Bloom represented VM South Beach LLC in its high-profile, $41.5 million purchase of Casa Casuarina, a famous South Beach landmark at 1116 Ocean Drive more commonly known as the former “Gianni Versace mansion.” This highly complex, contentious transaction had many moving parts and challenges. Two strong teams of Greenberg Traurig attorneys with varied skills worked together closely to push the auction sale forward in an expedited timeframe for their clients while avoiding protracted litigation and bankruptcy proceedings.
Multifamily Real Estate
- Miami Co-Managing Shareholder Richard J. Giusto, Real Estate Shareholder Michael T. Lynott, and Real Estate Associate Michael J. Larson represented the buyers, Bravern Residences South, and Bravern Residences North, in the high-profile, $308 million purchase of The Bravern Signature Residences in Bellevue, Washington, from a Schnitzer West and Investcorp venture. The $676,923 per-unit price set a Puget Sound record that topped the prior year’s record of $509,760 per unit, according to news reports.