- 8 Rivers Capital, LLC in its $100 million sale of a minority stake to SK Group (SK) and the formation of a joint venture with SK focused on the decarbonization of Korean and key Asian markets
- A major financial institution, as administrative agent, in a $1.5 billion senior unsecured 364-day revolving facility for Keurig Dr Pepper Inc. (KDP) for general corporate purposes
- AMC Entertainment Holdings, Inc. in its $1.46 billion issuance of new second lien notes and subscription rights for first lien senior secured notes in exchange for various series of senior subordinated notes; $100 million issuance of senior secured notes; $600 million issuance of convertible first lien notes; amendment of its convertible notes indenture; and issuance of 5 million shares of Class A common stock as part of a backstop agreement with certain holders of the existing subordinated notes, to restructure its debt obligations and increase liquidity
- Avista Public Acquisition Corp. II, a SPAC sponsored by Avista Acquisition LP II (an affiliate of Avista Capital Holdings), in its $230 million initial public offering
- Basic Energy Services, Inc. in its acquisition of C&J Well Services
- Briggs & Stratton Corporation in its $550 million 363 asset sale in a chapter 11 bankruptcy proceeding of substantially all of its assets and its equity interests in certain of its subsidiaries and certain joint ventures
- BroadStreet Partners, Inc. (a portfolio company of Ontario Teachers’ Pension Plan) in a second lien term facility
- Brooks Brothers Group, Inc. in its $325 million sale to SPARC Group LLC
- Campbell Soup Company in its $1 billion senior unsecured notes offering to reduce outstanding indebtedness
- Cardtronics plc in its $2.5 billion sale to NCR Corporation and $500 million new senior secured term and $600 million amended and restated multicurrency revolving facilities covering borrowers and guarantors in the United States, United Kingdom, Canada, Germany, Australia and South Africa
- CBAM in the sale of a portfolio of its assets to The Carlyle Group, in a transaction valued at approximately $800 million
- Certain funds advised by Goldman Sachs, as investor, in $175 million senior convertible preferred shares of Soho House Holdings Limited (Soho House) (a portfolio company of The Yucaipa Companies, LLC). In a simultaneous transaction, advised Goldman, as initial purchaser, in the $441 million issuance of senior secured notes by Soho House
- Citi, as the sole book-running manager, in the $309 million initial public offering of DHC Acquisition Corp., a SPAC sponsored by DHC Sponsor, LLC
- Citi, as sole underwriter, in the $305 million initial public offering of Kernel Group Holdings, Inc., a SPAC sponsored by Kernel Capital Holdings, LLC
- CPP Investments, as a member of a consortium with Advent International and Permira Advisers, among others, in the consortium's pending approximately $14 billion take-private of McAfee Corporation; as a participant together with Alphabet and Silver Lake in the $2.5 billion investment in Waymo LLC (a subsidiary of Alphabet Inc.); and, together with Oak Hill Capital Partners, in the recapitalization of Berlin Packaging L.L.C.
- Dave & Buster’s, Inc. in its $550 million 144A offering of senior secured notes
- Deep Lake Capital Acquisition Corp., a SPAC sponsored by Deep Lake Capital Sponsor LP, in its $207 million initial public offering
- Depop Limited in its $1.6 billion sale to Etsy, Inc.
- Dual North America, Inc., the specialist underwriting arm of Howden Group Holdings Limited (f/k/a Hyperion Insurance Group Limited), in its acquisition of Align Financial Holdings, LLC
- Elevate Entertainment Inc. (a portfolio company of Mirasol Capital) in its acquisition by tender offer of Evans & Sutherland Computer Corporation
- Froneri International Limited (a joint venture between Nestlé and PAI Partners) in its $4 billion acquisition of Dreyer’s Grand Ice Cream Holdings, Inc.
- GameStop Corporation in its $415 million private senior secured notes exchange offer and related consent solicitation
- Goldman Sachs, as administrative agent and lead arranger, in $160 million senior secured facilities to finance Endurance Engineering Partners' acquisition of Westwood Professional Services, Inc.
- Goldman Sachs and certain other initial purchasers of $100 million senior secured first lien floating rate notes of Sotera Health LLC (a portfolio company of Warburg Pincus and GTCR) to finance Sotera's acquisition of Iotron Industries Canada Inc. and $770 million second lien floating rate notes of Sotera to refinance existing indebtedness
- Isabel Marant (a portfolio company of Montefiore Investment) in its €200 million senior secured notes offering to refinance existing indebtedness
- The joint lead arrangers and joint bookrunners in $2.8 billion senior secured facilities for The Hertz Corporation to finance its business operations upon emerging from chapter 11 bankruptcy proceedings
- J.P. Morgan and Morgan Stanley, as representatives of the underwriters, in the $998 million initial public offering of Fluence Energy, Inc. (a joint venture of Siemens AG and AES Energy Storage)
- Kayne Anderson, as a lender, in $117 million secured facilities to finance TZP's acquisition of Christy Sports L.L.C.
- MC Credit Partners, as administrative agent, sole lead arranger and bookrunner, in senior secured facilities to finance Ardian's acquisition of Acousti Engineering Company of Florida
- Marquee Raine Acquisition Corp., a SPAC sponsored by an affiliate of The Raine Group LLC and Marquee Sports Holdings SPAC I, LLC, in its $1.2 billion business combination with Enjoy Technology, Inc.
- Morgan Stanley, as representative of the underwriters, in $1 billion and $650 million 144A/Reg S offerings of senior unsecured notes by Royal Caribbean Cruises Ltd.
- Morgan Stanley, J.P. Morgan and Credit Suisse, as representatives of the underwriters, in the $1.6 billion initial public offering, via American Depositary Shares, of Oatly Group AB (a portfolio company of a joint venture between China Resources and Verlinvest)
- MSP Recovery, LLC in its $32.6 billion business combination with Lionheart Acquisition Corp. II, a SPAC sponsored by Lionheart Equities
- Ontario Teachers' Pension Plan, as an investor in Hawkwood Energy LLC, in the approximately $650 million sale of Hawkwood to WildFire Energy I LLC (a portfolio company of Warburg Pincus and Kayne Anderson)
- Representative of the underwriters in a $1.5 billion 144A/Reg S offering of senior unsecured notes by Royal Caribbean Cruises Ltd.
- SiriusXM in its acquisitions of 99% Invisible Inc. and Cloud Cover Music
- SoftBank Group Corp. (SBG) in its agreement to provide $6.5 billion in debt and equity financing to WeWork, to make a $3 billion tender offer to holders of WeWork shares, other than SBG and its affiliates, and in connection with revisions to the WeWork governance structure
- Tidewater Inc. in its $125 million tender offer for repurchase of senior secured notes and related consent solicitation
- Vonage Holdings Corp. in its $6.2 billion sale to Telefonaktiebolaget LM Ericsson
Prior to joining Weil, Greg was a Principal at KPMG LLP in the Washington National Tax International M&A group. Prior to joining KPMG in 2010, Greg was an attorney at another major law firm.
Greg is recommended for International Tax by Legal 500 US. He is also recognized as a “Bankruptcy Tax Specialist” by Turnarounds & Workouts magazine. Greg frequently speaks on related subjects for groups including the D.C. Bar, Tax Executives Institute and the American Bar Association. He has also been published on a number of topics relating to both domestic and cross-border tax planning.
Speaking Engagements, Awards and Recognition, Latest Thinking, Firm News & Announcements
Panoply of Hot Topics – The World Beyond the New Acronyms and Pillars
October 14, 2022 — Dallas, TX — Weil Tax partner Greg Featherman moderated a panel titled “Panoply of Hot Topics – The World Beyond the New Acronyms and Pillars” as part of ABA’s 2022 Fall Tax Meeting.
Awards and Recognition
- Greg Featherman Recommended for International Tax Award Brief — Legal 500 US
- Greg Featherman Named a “Bankruptcy Tax Specialist” Award Brief — Turnarounds & Workouts
- International Comparative Legal Guide (ICLG) – USA: Corporate Tax Laws and Regulations 2023 Publication — International Comparative Legal Guides — By Devon Bodoh, Joseph M. Pari, Greg Featherman and Blake Bitter — PDF — January 05, 2023
New IRS proposed regulation would reverse longstanding IRS ruling and upend commonly used real estate fund structures
Blog Post — Tax Blog
Hillel N. Jacobson,
Lauren Gorsche and
— January 04, 2023
Shortly before the new year, the Internal Revenue Service (“IRS”) dropped a holiday bombshell on the tax community when it issued a proposed regulation under the Foreign Investment in Real Property Tax Act of 1980 (“FIRPTA”). The proposed regulation would, if enacted in its current form, reverse a longstanding IRS ruling interpreting FIRPTA (the “2009
The post <strong>New IRS proposed regulation would reverse longstanding IRS ruling and upend commonly used real estate fund structures</strong> appeared first on Weil Tax BLOG....
- New IRS proposed regulation would reverse longstanding IRS ruling and upend commonly used real estate fund structures Alert — By David F. Levy, Devon Bodoh, Greg Featherman, Robert Frastai, Hillel N. Jacobson, Andrew Morris, Lauren Gorsche and Brian Senie — PDF — January 04, 2023
- 2022 Tax Country Comparative Guide — U.S. Tax Publication — The Legal 500 — By Devon Bodoh, Joseph M. Pari, Greg Featherman and Alfonso J. Dulcey — PDF — October 03, 2022
International Comparative Legal Guide (ICLG) – USA: Corporate Tax Laws and Regulations 2022
Publication — International Comparative Legal Guides
Joseph M. Pari,
Greg Featherman and
— December 08, 2021
This chapter first appeared in the International Comparative Legal Guide (ICLG) – Corporate Tax 2022. ...
Firm News & Announcements
- Weil Advised Vonage Holdings Corp. in its $6.2B Sale to Ericsson Deal Brief — July 21, 2022
- Weil Advised MSP Recovery, LLC in its $32.6B Business Combination with Lionheart Acquisition Corp. II Deal Brief — May 18, 2022