IFLR1000

Carlyle/GIC $7.4 billion acquisition of Veritas Technologies

29/1/2016
Acquisition finance, Investment grade bond/note issue, Private acquisition
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$ 7.4 billion

Completed

29/1/2016

Overview:

  • Carlyle Group and GIC have acquired software company Veritas from Symantec for $7.4 billion.
  • JPMorgan Securities is serving as financial advisor to Symantec. BofA Merrill Lynch, Morgan Stanley and UBS are serving as financial advisors to Carlyle and GIC. 
  • Financing for the deal is being provided by Carlyle's US buyout fund and GIC and through an issue of $1.16 billion senior secured and unsecured notes issues.
  • The deal is the biggest US LBO announced in 2015.

Sam Duke - Editor

Jurisdictions:

United States
Ireland
United Kingdom

Deal types:

Acquisition finance
Investment grade bond/note issue
Private acquisition

Practice areas:

Private equity
M&A

Industry sector:

Technology and telecommunications

Firms:
A&L Goodbody

Party: Bank of America Merrill Lynch (Bookrunner)

Party: Morgan Stanley (Bookrunner)

Party: UBS Securities (Bookrunner)

Party: Jefferies Financial (Bookrunner)

Allen & Overy

Party: Carlyle (Acquirer)

Lawyer: Gillian Holgate

Alston & Bird

Party: Carlyle (Acquirer)

Lawyers: C Mark Kelly, T Scott Kummer

Arthur Cox

Party: Carlyle (Acquirer)

Lawyer: Stephen Ranalow

Baker McKenzie

Party: Symantec (Seller)

Lawyer: Irina Shestakova

Covington & Burling

Party: Carlyle (Acquirer)

Lawyers: David Fagan, Mark Plotkin

Fenwick & West

Party: Symantec (Seller)

Lawyers: David Michaels, Douglas Cogen, Gordon Davidson

Latham & Watkins

Party: Carlyle (Borrower)

Lawyers: Jason Licht, Jeffrey Chenard, Patrick Shannon, Scott Forchheimer

Ropes & Gray

Party: GIC (Acquirer)

Lawyer: Stefanie Birkmann

Sidley Austin

Party: GIC (Acquirer)

Lawyer: Anthony Norris

Simpson Thacher & Bartlett

Party: Bank of America Merrill Lynch (Bookrunner)

Party: Morgan Stanley (Bookrunner)

Party: UBS Securities (Bookrunner)

Party: Jefferies Financial (Bookrunner)

Lawyer: Alexandra Kaplan

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