Arrangement of Financing for Acquisition of Sunrise Communications
September 21, 2010
On September 17, 2010, CVC Capital Partners (“CVC”) and Denmark’s TDC announced that they reached a definitive agreement for investment funds advised by CVC to acquire TDC’s Swiss subsidiary Sunrise Communications S.A. (“Sunrise”), for an enterprise value of CHF3.3 billion (approximately US$3.25 billion). Cravath represented the lending banks (Deutsche Bank, BNP Paribas, UBS, SocGen and Unicredit) in connection with this transaction. The transaction is expected to be completed in the fourth quarter of 2010, subject to approvals from the Swiss competition and relevant regulatory authorities. CVC is one of the world’s leading private equity and investment advisory firms. Sunrise is the largest privately held telecommunications provider in Switzerland.
The Cravath team included corporate partners Philip J. Boeckman and David Mercado and associate Francesco Lione in the Firm’s London office. Andrew A. Hamad also worked on corporate matters in the London office.
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J.D., 1991, University of Missouri Columbia School of LawOrder of the Coif, magna cum laude
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B.A., 1988, Westminster Collegecum laude
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M.A., 2021, King's College London
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J.D., 1984, Yale Law School
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A.B., 1981, Columbia College
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