Cravath’s London Office Moves to 100 Cheapside
On July 23, 2009, The Great Atlantic & Pacific Tea Company, Inc. (“A&P”) announced the execution of investment agreements with affiliates of The Yucaipa Companies LLC (“Yucaipa”) and partners of Tengelmann Warenhandelsgesellschaft KG (“Tengelmann”). Under the agreements, Yucaipa will invest $115 million and Tengelmann will invest $60 million for a total purchase of $175 million of convertible preferred stock pursuant to a private offering. On a fully diluted basis, Tengelmann will remain the largest single shareholder of A&P, with an ownership interest of 38.6 percent, while Yucaipa’s ownership interest will increase to 27.6 percent.
The lawyers involved in this transaction include partner Stephen L. Burns and associates Joel Unruch, Aaron Gruber and Aaron B. Holmes.
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