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Allen & Overy advising lead arrangers of a committed cross-border debt financing to support Brookfield Business Partners’ $4.6 billion acquisition of Westinghouse

 

04 January 2018

​Allen & Overy is advising the joint lead arrangers including, Credit Suisse, Goldman Sachs, Deutsche Bank, BMO, RBC Capital Markets and Credit Agricole, on the $3.6bn senior secured credit facilities supporting Brookfield Business Partners’ $4.6bn acquisition of Westinghouse, the bankrupt nuclear services company owned by Toshiba Corp. The deal is expected to close in the third quarter of 2018. 

The buyers are also assuming Westinghouse’s underfunded pension plan, which is aiming to exit bankruptcy in March. Westinghouse has joined a consortium bidding to provide nuclear power in Saudi Arabia, one of the biggest new markets in the world. Bringing Westinghouse out of bankruptcy could help close a proposed deal for six of the company’s new power plants in India. 

Westinghouse is an international leader in infrastructure services that provides nuclear technology and fuel to the power generation industry. Brookfield Business Partners is a business services and industrials company focused on owning and operating high-quality businesses that benefit from barriers to entry and/or low production costs. The company is listed on the New York and Toronto stock exchanges.

Allen & Overy’s New York leveraged finance team leading the transaction are partners Rajani Gupta, Todd Koretzky, Judah Frogel, Alan Rockwell, Michael Chernick, Elizabeth Leckie and Jeff Pellegrino, with significant support from associates James Cheng, Anneka Dabo, Zachary Frimet, Adam Haberkorn, Nathaniel Norman, Jessica Paletsky and Jason Palios. Bankruptcy, Regulatory and other specialist groups will also provide support on this transaction.   

For further information, please contact Kevin Maloney at kmaloney@prosek.com or +1 (646) 801-3917 x313. 

 

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Rajani Gupta
Rajani Gupta
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Todd Koretzky
Todd Koretzky
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Judah Frogel
Judah Frogel
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Alan Rockwell
Alan Rockwell
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Michael Chernick
Michael Chernick
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Elizabeth Leckie
Elizabeth Leckie
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Jeffrey Pellegrino
Jeffrey Pellegrino
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Zachary Frimet
Zachary Frimet
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Adam Haberkorn
Adam Haberkorn
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Jason Palios
Jason Palios
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