Four Decades for Justice
June 17, 2020
Cravath partner David J. Kappos participated in two webinars during Berkeley Center for Law and Technology’s Asia IP and Technology Law Project webinar series. The sessions brought together leading intellectual property experts from the U.S. and China to analyze developments in U.S. and Chinese IP law. The “Pharmaceutical IP Issues” webinar, held on May 27, 2020, discussed the impact of the Phase 1 Trade agreement on Pharmaceutical IP protection and how China plans to implement its commitments to improve protection for innovative chemical compounds and biologics. The “Section 101 Comes to China: Is China Turning the Unpatentable into the Patentable” webinar, held on June 17, 2020, examined China’s expansion of patentable subject matter compared to the U.S. and its impact on the U.S. innovation ecosystem.
Deals & Cases
June 10, 2020
On June 10, 2020, Just Eat Takeaway.com N.V. (“Just Eat Takeaway.com”), a food delivery marketplace with leading positions in the U.K., Germany and the Netherlands, announced it has entered into a definitive agreement to acquire 100% of the shares of Grubhub Inc. in an all-stock transaction to create the largest online food delivery platform outside of China. The transaction implies a total equity consideration, on a fully diluted basis, of $7.3 billion. Cravath represented Just Eat Takeaway.com in connection with the transaction.
Deals & Cases
March 25, 2020
On March 25, 2020, letgo, which is majority‑owned by OLX Group, and OfferUp announced an agreement to combine their U.S. businesses. OLX Group is the online classifieds business of Prosus, a global consumer internet group majority‑owned by Naspers. The combination will create a mobile marketplace supporting more than 20 million monthly active users in the U.S., and OLX Group will own 40% of the combined entity. The agreement includes a new $120 million investment round in the combined entity led by OLX Group along with existing OfferUp investors to support continued growth, product innovation and monetization efforts. Cravath is representing OLX Group and letgo in connection with the transaction.
Deals & Cases
March 20, 2020
On March 4, 2020, OLX Brazil, the 50/50 joint venture between Prosus NV and Adevinta ASA, and one of the fastest-growing tech companies in Brazil, announced that it has entered into an agreement to acquire 100 percent of the shares of Grupo ZAP for a total cash amount of approximately R$2.9 billion. Cravath is representing OLX Brazil in connection with the transaction.
Deals & Cases
March 09, 2020
Cravath represented the borrower, RedHill Biopharma Inc., a wholly‑owned subsidiary of RedHill Biopharma Ltd., in connection with the arrangement of its $115 million term loan facility provided by HCR Collateral Management, LLC. RedHill Biopharma Ltd., an Israeli company, is a specialty biopharmaceutical company that focuses on the development and commercialization of clinical late-stage drugs for the treatment of gastrointestinal diseases in the United States. The transaction closed on February 23, 2020.
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