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Here are the law firms crafting Okada Manila’s $2.5 bln SPAC merger

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(Reuters) – Three law firms — Baker McKenzie, Milbank and Schulte Roth & Zabel — are driving Philippines-based on line casino Okada Manila’s plans to go public in the U.S. by a $2.5 bln merger with clean verify firm backed by a former Las Vegas Sands Corp. director.

Okada Manila and clean verify firm 26 Capital Acquisition Corp introduced the deal on Friday, in what an lawyer mentioned was the first merger between a U.S. clean verify firm and a Filipino firm.

Common Leisure Corp, Okada Manila’s guardian firm, has turned to Baker McKenzie Tokyo and Milbank for the deal.

The Baker McKenzie staff was led by company associate Derek Liu. The agency’s staff included company companions Michelle Heisner and Steve Canner; tax associate Ryutaro Oka; and company associate Akifusa Takada.

Liu mentioned in a press release that mentioned the deal was the first merger between a particular function acquisition firm and a Philippines-based firm.

The Milbank staff was led by James Grandolfo.

The 26 Capital clean verify firm is working with Schulte Roth & Zabel.

Particular function acquisition corporations, or SPACs, elevate funds by preliminary public choices to merge with privately held corporations and take them public.

The 26 Capital SPAC labored with Ellenoff Grossman & Schole, with Graubard Miller advising the underwriters, based on a submitting with the U.S. Securities and Change Fee.

The SPAC is backed by type Las Vegas Sands Corp director Jason Ader.

The merger between the SPAC and Okada Manila is ready to shut in the first half of 2022.

Learn Extra:

Philippines’ Okada Manila to checklist in U.S. by way of $2.5 billion SPAC deal

Sierra Jackson

Sierra Jackson experiences on authorized issues in main mergers and acquisitions, together with deal work, litigation and regulatory adjustments. Attain her at [email protected]