Legal News

At the end of 2019, Coty Inc. (“Coty”) expanded its brand portfolio by closing a notable $600 million deal for a majority stake in reality star Kylie Jenner’s young cosmetics company, King Kylie LLC (d/b/a Kylie Cosmetics). The purchase placed the valuation of the Kylie Cosmetics at $1.2 billion. Drama soon followed the acquisition as reports questioning Ms. Jenner’s net worth (and consequently, the value of her cosmetics empire) surfaced in May 2020, overshadowing Coty’s launch of the Kyli...

Background - The new Franchise Law (“Franchise Law”) of the Kingdom of Saudi Arabia (“Kingdom”) was promulgated by Royal Decree No. M/22 dated 09/02/1441 Hijri (corresponding to 8 October 2019). The Implementing Regulations of the Franchise Law (IRFL) were approved by Ministerial Resolution No. 00591 dated 18/09/1441H (corresponding to 11 May 2020). This article provides a brief overview of some of the key provisions of the Franchise Law and the IRFL. Please see full Article below for m...

Kayne Anderson (KA) Real Estate has acquired a healthcare portfolio from Welltower, according to a news release....By: McGuireWoods LLP

The Internal Revenue Service (the “IRS”) issued proposed regulations (the “Proposed Regulations”) that govern the tax treatment of certain equity interest under Section 1061 of the Internal Revenue Code of 1986, as amended (the “Code”). Specifically, the Proposed Regulations clarify certain applications of the three-year holding period rules and, as a result, taxpayers may need to reconsider certain aspects of profits interests and carried interests awards....By: Thompson Coburn LLP

The COVID-19 pandemic hit Chinese M&A hard in Q1, but the second quarter has already witnessed a remarkable recovery with a total of 434 deals announced—an increase of 56% on Q1. Value also rebounded strongly, with deals worth US$58.19 billion recorded during the second quarter, up more than 16% on Q1....By: White & Case LLP

A new landmark free trade agreement between Vietnam and the European Union entered into force on 1 August 2020.  The agreement provides expansive preferential treatment for both goods and services, recognition and protection of geographical indications for over 200 products, liberalized government procurement rules, and obligations for antitrust and mergers. It also contains sustainable development provisions including legally binding rules on climate, labour and human rights. As such, it is......

Key Takeaways - - On July 31, 2020, the U.S. Treasury Department, as chair of the Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”), published its Annual Report to Congress on all notices filed with CFIUS in 2019, the most recent year for which data has been declassified, and all reviews or investigations completed during the year (“Annual Report”). - The Annual Report also marks the second data set for reviews and investigations completed since the Forei...

We’ve been keeping busy, but unfortunately for the oil and gas sector, it has been especially busy in our Restructuring group. As we help clients navigate these difficult times, we’ve been noticing several common themes as they relate to fairness and solvency opinions, which can provide lessons learned for companies and sponsors…...By: Opportune LLP

On August 5, 2020, the Governor of Georgia signed Senate Bill 315 to legislatively overrule a September 2019 decision by the Georgia Court of Appeals on the effect of a lien claimant’s failure to withdraw a lien waiver using the statutory process for invalidating waivers of lien or bond. In that case, ALA Construction Services, LLC v. Controlled Access, Inc.,1 the Georgia Court of Appeals had ruled that statutory lien and bond waivers can also waive claims for breach of contract and leave the.....

Is A&D activity picking up in the upstream oil and gas sector and, if so, is now the right time to find attractive deals? ...By: Opportune LLP