NCR’s Strategic Partnership with Blackstone

On November 12, 2015, NCR Corporation announced that it has entered into an agreement with Blackstone, one of the world’s leading investment and advisory firms, under which affiliates of Blackstone will invest $820 million in NCR in the form of perpetual convertible preferred shares. NCR will use the Blackstone investment to help fund a repurchase through a self‑tender of up to $1 billion of its common stock. Cravath is representing NCR in connection with this transaction.

The Cravath team includes associate Eric D. Rinder on M&A matters; partner Andrew J. Pitts and associate Vince A. Ferrito on securities matters; partner Christopher K. Fargo and associate Jonathan D. Grossman on tax matters; and partner Eric W. Hilfers and associates Jonathan J. Katz and Amy C. Benford on executive compensation and benefits matters. Justin B. Stein also worked on M&A matters and William A. Magioncalda also worked on securities matters.