Simpson Thacher is representing global investment firm KKR in its establishment of a joint venture (“JV”) with T-Mobile that will acquire Metronet, including its broadband infrastructure, rapidly growing residential fiber business operations and existing customers. The transaction is expected to close in 2025, subject to customary closing conditions and regulatory approvals. At closing, T-Mobile is expected to invest approximately $4.9 billion to acquire a 50% equity stake in the JV and 100% of Metronet’s residential fiber retail operations and customers, as well as funding of the JV. Metronet is uniquely positioned as the fastest growing pure play fiber company in the U.S. and an experienced independent fiber-to-the-home (FTTH) operator. The company currently reaches more than 2 million homes and businesses across 17 states with fiber solutions built on a state-of-the art broadband platform. Following the transaction’s close, Metronet will become a wholesale services provider for its retail customers and 100% of its residential fiber retail operations and customers will transition to T-Mobile. Metronet is expected to reach 6.5 million homes passed by the end of 2030. The Simpson Thacher team includes Breen Haire, Shamus Crosby, David Bumgardner, Mark Kunzman, Braxton Duhon, Christine Robb, Jake Bryant, Andrew Waldeck and Jack Davis (Corporate); Nancy Mehlman and Shareef Salfity (Tax); Ron Ben-Yehuda, Bobbie Burrows and Riley Morrow (Intellectual Property); David Rubinsky and Linda Barrett (Executive Compensation and Employee Benefits); Toby Chun and Noreen Lavan (Environmental); Krista McManus, Dennis Loiacono, Richard Starik and Yael Golan (Real Estate); Peter Guryan and Jamie Logie (Antitrust); and John Schueller, Brian Steinhardt, Jennifer Albrecht, Marisa Stavenas, Constantine Valettas and Angelica Varona (Finance).
About us
Simpson Thacher & Bartlett LLP is one of the world’s leading international law firms. The Firm was established in 1884 and has more than 1,300 lawyers. Headquartered in New York with offices in Beijing, Brussels, Hong Kong, Houston, London, Los Angeles, Palo Alto, São Paulo, Tokyo and Washington, D.C., the Firm provides coordinated legal advice and transactional capability to clients around the globe. This website contains attorney advertising. Prior results do not guarantee a similar outcome.
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http://www.simpsonthacher.com
External link for Simpson Thacher & Bartlett LLP
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- Law Practice
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- Headquarters
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- 1884
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425 Lexington Avenue
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Employees at Simpson Thacher & Bartlett LLP
Updates
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Simpson Thacher is representing Johnson Controls International plc in connection with its announced agreement to sell its Residential and Light Commercial HVAC business to the Bosch Group in an all-cash transaction valued at $8.1 billion. The transaction includes the North America Ducted business and global Residential joint venture with Hitachi, Ltd, of which Johnson Controls owns 60% and Hitachi owns 40%. As part of the transaction, Hitachi will retain certain ductless HVAC assets located in Shimizu, Japan. The transaction is expected to close in approximately 12 months, subject to required regulatory approvals and other customary closing conditions. Johnson Controls is a global leader in smart, healthy and sustainable buildings. With a team of 100,000 experts in more than 150 countries, Johnson Controls offers the world's largest portfolio of building technology and software as well as service solutions from some of the most trusted names in the industry. The Bosch Group is a leading global supplier of technology and services, employing roughly 429,000 associates worldwide. The Bosch Group generated sales of 91.6 billion Euros in 2023. Hitachi drives social innovation business, creating a sustainable society through the use of data and technology, with 2023 revenues of 8,564.3 billion yen and approximately 270,000 employees worldwide. The Simpson Thacher team includes Jakob Rendtorff, Keegan Lopez, Alan Klein, Julia Tory, Daniel Westen, Haley O'Connor, Avery Golombek, Jarius McDade and Josh Brachfeld (M&A); Jonathan Stradling, Yuji Yagi and Haixuan Yang (M&A – Tokyo); Benjamin Rippeon, Andrew Mandelbaum, and Shareef Salfity (Tax); Tristan Brown, Alisa Tschorke and Josh Goldman (Executive Compensation & Employee Benefits); Dennis Loiacono and Krista McManus (Real Estate); Brian Steinhardt, Robert Meyer and Kyle Nelson (Banking and Credit); Malcolm Tuesley, Mark Skerry and Claire DiMario (Foreign Direct Investment); Arielle Katzman, (Capital Markets) and Steven DeLott (Insurance).
Johnson Controls to Sell Residential and Light Commercial HVAC Businesses in $8.1 Billion Transaction
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Partners Greg Grogan, Sara Razi and Abram Ellis, and Counsel Daniel Venditti and Andrew Kofsky authored an article titled, “Simpson Thacher Discusses Texas District Court Decision Staying Non-Compete Ban,” which was published by The Columbia Law School Blue Sky Blog. The article discusses the preliminary injunction that was issued by the United States District Court for the Northern District of Texas that enjoins the FTC from enforcing its Non-Compete Rule against plaintiffs in the case.
Simpson Thacher Attorneys Author Article on Texas District Court Decision on FTC Non-Compete Rule
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India Business Law Journal has named Simpson Thacher a "Key Player" among international law firms for India-related work. Read more: https://lnkd.in/ed5YTDrX
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In their column in the New York Law Journal, Litigation Partners William Russell and Linton Mann III explore Eccles, et al. v. Shamrock Capital Advisers, et al. The Court of Appeals’ unanimous decision clarified the choice-of-law principles governing alleged breaches of fiduciary duties in international business disputes. Read more: https://lnkd.in/eypXiN6Q
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Partners Abram Ellis, Malcolm ("Mick") Tuesley, Mark Skerry and George Wang authored an article titled, “Treasury Issues Proposed Rule on Outbound Investment Security Program,” which was published by Thomson Reuters Westlaw. The article discussed key takeaways from the Treasury Department's recent outbound investment rule proposal, which establishes a new and targeted national security program to require the disclosure or prohibition of certain outbound transactions. Read more: https://lnkd.in/eWtDWw8e
Simpson Thacher Attorneys Author Article on Treasury Department’s Outbound Investment Security Program
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Simpson Thacher advised Blackstone in connection with its investment (through funds managed by its private equity strategy for individual investors) in Air Control Concepts (“AIR”), previously known as Hobbs & Associates. AIR partners with and supports leading commercial HVAC equipment manufacturers and is headquartered in Norfolk, Virginia. Blackstone invested alongside existing investors, funds affiliated with Madison Dearborn Partners and AIR’s management team. The Simpson Thacher team included Anthony Vernace, William Allen, Theresa Scharff, Simon Teich and Sichen Zhang (M&A); Jonathan Goldstein and Zev Klein (Tax); Greg Grogan, Joshua Stephens and Mtume Sangiewa (ECEB); Brian Gluck (Credit); Lori Lesser, Bobbie Burrows and Chandler Gerard-Reimer (Intellectual Property); and Krista McManus (Real Estate).
Blackstone Invests in Air Control Concepts
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Leah Malone, Leader of Simpson Thacher’s ESG and Sustainability Practice, authored a Law360 article titled, “After Chevron: Creating New Hurdles For ESG Rulemaking.” The article discussed how the U.S. Supreme Court’s Loper Bright decision could have significant impacts on the future of ESG regulation, creating new hurdles for agency rulemaking around these emerging issues. Read more: https://lnkd.in/ePaH6h5c
Leah Malone Authors Law360 Article on Impact of Loper Bright Decision on ESG Rulemaking
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Why is there such a focus on data centers now? Energy and Infrastructure Partner Gabriel Silva and Real Estate Partner Scott Kobak discuss this and other topics in a Bloomberg Q&A titled, “Simpson Thacher Lawyers See No Slowdown in Private Equity’s Demand For Data Centers.” The article highlighted the rise of data centers, with Gabriel noting that, “the mass adoption of next generation technologies like AI and machine learning,” is driving data center growth and that “These new technologies require materially more computing power than traditional workloads.” Read more: https://lnkd.in/eMBZ_sAF
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Real Estate Partner Scott Kobak and Energy and Infrastructure Partner Gabriel Silva were featured in a Bloomberg Q&A titled, “Simpson Thacher Lawyers See No Slowdown in Private Equity’s Demand For Data Centers,” highlighting the rise of data centers. In the Q&A, Scott explained that this trend is expected to continue with “so much confidence in the demand side of this.” Read more: https://lnkd.in/eMBZ_sAF