October 24, 2016
Weil is advising HNA Group in its acquisition of an approximate 25 percent equity interest in Hilton Worldwide Holdings Inc. from affiliates of Blackstone. The transaction is valued at approximately $6.5 billion, or $26.25 per share in cash, reducing Blackstone’s interest in Hilton to approximately 21 percent. The transaction is expected to close in the first quarter of 2017.
The Weil team includes Asia Managing Partner Akiko Mikumo and Corporate partners Charles Ching and Jackie Cohen; Banking & Finance partners Soo-Jin Shim and Danek Freeman; Tax partner Mark Schwed; Antitrust partners John Scribner and Eric Hochstadt; Regulatory partner Ted Posner; Corporate counsel William Welty; Regulatory counsel Adam Safwat; Corporate associates Tony Fan, Aileen Kim, Kevin Kitson and Aamir Rahman; Banking & Finance associates David Weavers, Rick Wei and Wansi Leung; Capital Markets associate Peter Byrne; Tax associates Liam Murphy and William Dong; and Antitrust associates Alexis Brown-Reilly and Jonathan Cheng.
The Hilton transaction follows Weil’s representation of HNA Group in its $6 billion acquisition of Ingram Micro Inc., announced earlier this year. Weil’s Asia team led both transactions, and included teams in New York and Washington, D.C.