GIC

O’Melveny represented GIC, Singapore’s sovereign wealth fund, in its investment in the US$1.26 billion equity financing of NYSE-listed XPO Logistics, one of the largest providers of freight brokerage, freight forwarding, and expedited freight transportation. O’Melveny previously negotiated a similar investment between the two. In International Financial Law Review’s “Private Equity Deal of the Year,” our Brussels and London offices represented GICSI, the private equity arm of the government of Singapore, as a consortium member in the US$19 billion takeover of BAA plc, the world’s leading airport company. GICSI invested US$1.47 billion in the consortium, which was led by the Spanish infrastructure group Ferrovial Infraestructuras, S.A., and included the Canadian pension fund Caisse de dépôt et placement du Québec. In a dramatic turn of events, GICSI’s consortium managed to snap up 28.7% of BAA’s share capital just as the stock markets opened one morning, which effectively blocked any counter bid by Goldman Sachs. Clearance was obtained from the European Commission in Phase I.