Signage is seen on the exterior of the building where law firm Cravath, Swaine & Moore LLP is located in Manhattan, New York City, U.S., August 17, 2020. REUTERS/Andrew Kelly

Three firms shape Blackstone’s purchase of majority stake in Spanx

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(Reuters) – Three legislation firms, together with Cravath, Swaine and Moore and Simpson Thacher & Bartlett, have added Blackstone’s purchase of a majority stake in shapewear model Spanx Inc to their belts.

The transaction, introduced on Wednesday, values Spanx at $1.2 billion.

Atlanta-based Spanx has teamed up with Cravath for steerage on the transaction. The Cravath workforce is led by mergers and acquisitions companions Faiza Saeed and Ting Chen, and contains tax companion J. Leonard Teti II; government compensation and advantages companion Eric Hilfers; and mental property companion David Kappos.

Spanx founder Sara Blakely is working with a King & Spalding workforce led by company companion Rahul Patel and counsel Michelle Stewart.

Blackstone has paired with longtime adviser Simpson Thacher. The attorneys contributing to the deal embody M&A companion Elizabeth Cooper; worker advantages and government compensation companion Jeannine McSweeney; mental property companion Lori Lesser; and tax companion Sophie Staples.

Cooper has endorsed Blackstone on a number of transactions, together with the funding agency and Vista Fairness Companions Administration LLC’s acquisition of larger training expertise enterprise Ellucian Co LP.

Blackstone’s monetary adviser on the Spanx deal is JPMorgan, and Spanx’s are Goldman & Sachs and Allen & Co.

Learn extra:

Blackstone buys majority stake in Spanx, valuing it at $1.2 bln

Quartet guides Blackstone, Vista Fairness’s edtech purchase

Sierra Jackson

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