16 LEXPERT MAGAZINE
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MARCH 2016
BIG DEALS
COMPILED BY GENA SMITH
DEALS ANALYSIS
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Telecommunications Telecommunications
MANITOBA TELECOM SERVICES
COMPLETES SALE OF
ALLSTREAM TO ZAYO GROUP
CLOSING DATE: JANUARY 15, 2016
On January 15, 2016, Manitoba Telecom
Services Inc. (MTS) (TSX: MBT) com-
pleted the sale of its Allstream division to
Zayo Group, LLC (Zayo), a leading provider
of communications infrastructure and net-
work-neutral colocation and connectivity, in
an all cash transaction for $465 million.
MTS was represented internally by Paul
Beauregard, Chief Corporate and Strategy
Officer and Corporate Secretary, as well as
Alexis Cloutier, Senior Legal Counsel, with
assistance from Stikeman Elliott LLP in
Canada with a team that included Ed Wait-
zer, Sean Vanderpol, Wesley Ng, Paul Ra-
kowski and Bessie Qu (M&A), Mike Kilby
(regulatory), Andrea Boctor (pensions) and
John O'Connor (tax) and Wilkinson Bark-
er Knauer, LLP in the United States with a
team that included Lawrence Movshin and
Jennifer Kostyu (regulatory).
Zayo was represented in the United States
by Steven Talley and Branden Berns and
Manuel Lorenzo (M&A) of Gibson, Dunn
& Crutcher LLP and Andy
Lipman, Russ Blau, Brett
Ferenchak and Stephany
Fan (regulatory) of Morgan,
Lewis, & Bockius LLP. In
Canada, Zayo was represented
by Borden Ladner Gervais
LLP with a team that included Jay Leon,
Gordon Raman and Laura Costen (M&A),
Andrew Harrison and Sonia Mak (pen-
sions), Michelle Henry and James Fu (em-
ployment), Subrata Bhattacharjee and Greg
McLean (regulatory), Danny Lang (tax), Ga-
brielle Kramer (environmental) and Eloïse
Gratton (privacy).
NEW FLYER INDUSTRIES INC.
ACQUIRES MOTOR
COACH INDUSTRIES
INTERNATIONAL, INC.
CLOSING DATE: DECEMBER 18, 2015
On December 18, 2015, New Flyer Indus-
tries Inc. (New Flyer) completed its acqui-
sition of Motor Coach Industries Interna-
tional, Inc. (MCI) from an affiliate of KPS
Capital Partners, L.P. for cash consideration
of US$455 million, subject to certain pur-
chase price adjustments.
MCI is a leading manufacturer of intercity
coaches in the US and Canada. New Flyer is
a leading manufacturer of heavy-duty transit
buses in the US and Canada.
e acquisition was funded through the
amendment and extension of New Flyer's
Total Deals Published
senior secured credit facility with e Bank
of Nova Scotia, as administrative agent, and
a syndicate of lenders. e maturity date was
extended to December 18, 2019, and the to-
tal amount of the facilities was increased to
US$825 million. e borrowing limits of the
revolving facility were increased to US$343
million and the term facility was increased to
US$482 million.
New Flyer Industries Inc. was represented
by Colin Pewarchuk, EVP, General Coun-
sel and Corporate Secretary, with external
support in the United States and Canada
from Torys LLP with a team led by Michael
Amm and Stefan Stauder and which in-
cluded Meghan McKeever, Steve Rotchtin,
Paulina Taneva and Simonne Horwitz
(corporate/M&A), Scott Kraag and Meno
Tessema (financing), Omar Wakil (competi-
tion), Ed Fan (IP) and John Unger and Grace
Pereira (tax).
Paul, Weiss, Riind, Wharton & Gar-
rison LLP acted for KPS Capital Partners,
L.P., with a team that included Angelo
Bonvino, Carl Reisner, Monica urmond,
Didier Malaquin, Lindsey Wiersma, Aidan
Synnott, Marta Kelly, Claudine Meredith-
Goujon, David Mayo, Robert Fleder, Peter
Fisch, William O'Brien, Chaim eil and
Yashreeka Huq.
KPS Capital Partners, L.P.,
was represented in Canada by
Goodmans LLP with a team
comprising John Connon
(corporate) and Richard An-
nan (competition).
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Corporate Finance
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Mergers and Acquisitions
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Cross-border Transactions
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BIG DEALS
ED WAITZER
STIKEMAN ELLIOTT LLP
JAY LEFTON
BORDEN LADNER
GERVAIS LLP
MICHAEL AMM
TORYS LLP
HOWARD SILVERMAN
BORDEN LADNER
GERVAIS LLP
