Ropes & Gray represents Liberty Global plc on Ziggo N.V. Merger Financing
Ropes & Gray acted for long-standing client Liberty Global plc in connection with the financing of their proposed public offering of Ziggo N.V. which was announced this morning.
Liberty Global will fund the acquisition with a combination of shares and cash. The total consideration required to purchase the remaining shares is approximately €4.9 billion). Of the total consideration, the stock component equates to €3.4 billion and the cash component equates to €1.6 billion, which excludes transaction and other costs.
With respect to the Cash Consideration, Liberty Global intends to fund the Offer principally through debt financings and has, subject to customary conditions, secured fully-committed debt financing. Liberty Global intends to raise over €1.5 billion in incremental principal debt at Ziggo.
London High Yield partner, Jane Rogers co-led the Ropes & Gray team, alongside associates Rob Haak and Alex Robb.
After only four years in London, Ropes & Gray has established itself as a leader in European high yield financings and is ranked 8th by volume and 10th by deal count by Euromarket (inc-EM Issuer) for year ending 2013.
Ropes & Gray is one of the world’s premier law firms, with more than 1,100 lawyers and legal professionals serving clients in major centers of business, finance, technology and government. The firm has offices in New York, Washington, D.C., Boston, Chicago, San Francisco, Silicon Valley, London, Hong Kong, Shanghai, Tokyo and Seoul, and has consistently been recognized for its leading practices in many areas, including private equity, M&A, life sciences, health care, finance, investment management, hedge funds, tax, intellectual property, litigation, securities litigation, government enforcement and privacy & data security.