Ropes & Gray Represents Champion Enterprises Holdings in a Definitive Agreement to Combine with Skyline Corporation
Ropes & Gray represented Champion Enterprises Holdings, the parent company of Champion Home Builders, in a definitive agreement to combine their operations with Skyline Corporation to create the nation's largest publicly traded factory-built housing company. The combined company will be known as Skyline Champion Corporation
Champion will contribute 100% of the shares of its operating subsidiaries, Champion Home Builders, Inc. and CHB International B.V., to Skyline. In exchange, Skyline is expected to issue approximately 47.8 million shares to Champion (or its members), representing 84.5% of the common stock of the combined company. The transaction is expected to close in the first half of 2018 subject to customary closing conditions.
The Ropes & Gray team was led by securities & public companies partners David Fine and Zachary Blume, finance partner Alyson Allen, benefits partner Joshua Lichtenstein and tax partner Leo Arnaboldi.