Kaye Scholer Advises Bank of America in Agreement to Sell Remaining Stake in Archstone for $1.58 Billion
Kaye Scholer is representing Bank of America Corp. in its sale, along with Barclays, of the remaining 26.5% stake in Archstone to Lehman Brothers Holdings Inc. for $1.58 billion.
In January, Kaye Scholer represented Bank of America Corp. in its sale, along with Barclays, of half of the banks’ stake, or 26.5% of Archstone, to Lehman Brothers Holdings Inc. for $1.325 billion, raising Lehman’s total stake in Archstone to 73.5%. In December 2011, we represented Bank of America in an agreement to sell the stake to Equity Residential. Lehman exercised a right to match Equity Residential’s offer and purchased the banks’ stake, resulting in the termination of the agreement with Equity Residential.
Archstone is a privately-held owner, operator and developer of multifamily apartment properties primarily located in top U.S. growth markets.
The Kaye Scholer team included Partners Mark Kingsley, Ed Gabbay, Aaron Rubinstein, Louis Tuchman, Scott Talmadge and Sebastian Jungermann; Counsel Debra Schaumberger, Peter Danias and William Lonergan; and Associate Roxanne Mintz.
Also of Interest
- Bloomberg Business: Moriarty Returns for “Taking Stock” ETFs & Bitcoin Podcast September 22, 2016 • Media Mentions
- Axford and Williams Discuss UK Influence on EU Banking Rules in Law360 September 21, 2016 • Media Mentions
- O’Keefe Featured in the Daily Journal on the 2016 Proxy Season September 15, 2016 • Media Mentions
- Pro Bono Team Advances CodeEd’s Comp Sci Efforts for Coeds September 14, 2016 • Client Successes
- SEC Proposes Exhibit Hyperlink Requirements September 8, 2016 • Client Alerts
- Consumer Products: Adapting to Innovation Fall 2016 • Reports / Newsletters
- Kaye Scholer Advises The Mortgage Lender on £250 Million Warehouse Financing September 2, 2016 • Client Successes
- ILS and Zinsser Analytic Shareholders Sell to Gardner Denver Medical September 2, 2016 • Client Successes
- Kaye Scholer Secures Dismissal of Merger-Related Class Action Against Baltic Trading September 1, 2016 • Client Successes