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Haynes and Boone, LLP Closes $1.8B Cash Sale of ClubCorp
Publish Date : 1/9/2007 12:30:00 PM Source : Travel and Hotels News Onlypunjab.com
Haynes and Boone, LLP announced today that it has finalized the $1.8 billion sale of ClubCorp to KSL Capital Partners.
ClubCorp -- the leading operator of golf courses and country clubs in the world -- reached an agreement to merge with KSL last October. KSL is a private equity fund with $1 billion of committed capital in the resort and leisure industry.
The conclusion of the deal ended months of work by a Haynes and Boone team that included Garrett DeVries, Tom Yang, Matt Zmigrosky, Randy Colson, Vicki Martin-Odette, Ken Bezozo, Brandon Jones, David Shinnick, Susan Wetzel, Greta Cowart and Mary Mendoza.
In a separate but related transaction, ClubCorp also closed on an agreement to sell The Pinehurst Resort and Country Club to certain members of the Dedman family, owners of about 70 percent of ClubCorp, in a $325 million transaction. Thompson and Knight represented the Dedman family in that transaction and Winston & Strawn represented a special committee of ClubCorp's Board of Directors.
ClubCorp's renowned resort properties include Barton Creek Resort & Spa in Austin, Texas (site of two Canadian Tour events); and The Homestead in Hot Springs, Virginia (America's first resort founded in 1766); Firestone Country Club in Akron, Ohio (site of the World Golf Championships -- Bridgestone Invitational); and Mission Hills Country Club in Rancho Mirage, California (home of the Kraft Nabisco Championship).
The company also holds more than 60 business clubs and business and sports clubs, including the Boston College Club, City Club on Bunker Hill in Los Angeles, Columbia Tower Club in Seattle, Metropolitan Club in Chicago and the City Club of Washington, D.C.
Haynes and Boone, LLP is an international corporate law firm with offices in Texas, Mexico City, Moscow, New York and Washington, D.C., providing a full spectrum of legal services. With more than 450 attorneys, Haynes and Boone is ranked among the largest law firms in the nation by The National Law Journal. The firm has been recognized by Vault.com as one of the "20 Best Law Firms to Work For," by Corporate Board Member Magazine as one of the "Best Corporate Law Firms in America," and has received the Minority Corporate Counsel Association's Thomas L. Sager Award for its commitment to diversity.
CONTACT:
Douglas Bedell
Haynes and Boone, LLP
214.651.5815 (office)
www.haynesboone.com
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