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Law firm trio advise on $4.5 billion vacation rental SPAC deal

2 minute read

The office of law firm Weil, Gotshal & Manges LLP in Washington, D.C., August 31, 2020. REUTERS/Andrew Kelly

  • Transaction helps Latham & Watkins secure spot for advising on most number of SPAC deals
  • Weil previously advised TPG Global in another SPAC deal in 2019

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(Reuters) - Weil, Gotshal & Manges has a new SPAC deal under its belt, advising special purpose acquisition company TPG Pace Solutions on its $4.5 billion purchase of vacation rental firm Vacasa, which is represented by Latham & Watkins. Mayer Brown is representing TPG Pace Solutions' capital markets advisers.

Latham & Watkins currently has handled the most blank check company deals this year for a total of 52, with a combined value of $133.3 billion, according to data from Refinitiv. Weil trails behind in seventh place with 15 transactions valued $81.8 billion.

The deal with TPG Pace Solutions Corp will result in cash proceeds of nearly $485 million for Vacasa.

Weil's team advising TPG Pace is led by private equity partners Doug Warner and Christopher Machera in New York. The team also includes M&A partner Raymond Gietz and tax partner Devon Bodoh.

The firm previously has worked with TPG Global on its acquisition by SPAC TPG Pace Holdings. Warner and Machera also worked on the 2019 transaction.

The Mayer Brown legal team guiding TPG Pace's capital markets advisers Deutsche Bank Securities, J.P. Morgan Securities and Goldman Sachs includes the firm's co-lead for the global capital markets practice Anna Pinedo and partner Brian Hirshberg.

The Latham & Watkins team is led by M&A partners Justin Hamill, Eric Schwartzman, Nicholas Luongo and counsel Michael Anastasio. The group also includes capital markets partners Marc Jaffe and Benjamin Cohen; tax partner Katharine Moir; benefits and compensation partner Erin Murphy; finance partner Joshua Tinkelman and counsel Seniz Yakut; intellectual property partner Anthony Klein; data privacy counsel Robert Blamires; and antitrust partner Joshua Holian and counsel Patrick English.

Latham & Watkins represented Vacasa in March on its acquisition of TurnKey Vacation Rentals. Schwartzman, Jaffe, Murphy, Klein, Holian and English also advised on the TurnKey transaction.

Read more:

Rental management firm Vacasa to merge with TPG-backed SPAC in $4.5 billion deal

Arriana McLymore reports on the business of law, including diversity in the profession, corporate practices, legal education and attorney career life cycles.

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