$1.7 Billion Sale of TimberStar to Manulife Financial

Cravath represented Perry Capital LLC, as part of a consortium led by iStar Financial Inc., in connection with the $1.7 billion sale of TimberStar Southwest to Manulife Financial Corp. The lawyers involved in the matter were partner Mark I. Greene and associate Sarah S. Jones on corporate matters; partner Andrew W. Needham on tax matters; and associate Annmarie M. Terraciano on environmental matters. The deal was announced on February 19, 2008.