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LATHAM CLIENT SEALS $ 790M DEAL IN COOL CREDIT MARKET The credit crunch has made it harder for not just homeowners to borrow money, but for private equity firms, too. Despite this, Genstar Capital’s $790 million acquisition of scientific research firm PRA International Inc. still went smoothly, said LATHAM & WATKINS partner Scott Haber. Latham represented San Francisco private equity firm Genstar in the transaction. “In other deals, banks had been less willing to provide credit,” Haber said, “or the terms of the credit have been less favorable than they were two or three months ago.” He said Genstar’s solid reputation in the private equity world helped attract financing despite the cooling market. Haber noted that Latham’s private equity practice has been extremely busy in the past 18 months or so. It’s unclear how the credit squeeze will affect the practice, he said. Latham has represented Genstar for about eight years. In dealing with PRA International, Latham’s global presence was a plus, he added, because Virginia-based PRA has offices all over the world. The deal was announced July 25. PRA was represented by DEWEY BALLANTINE attorneys based in New York. Dewey attorneys who worked on the deal said they couldn’t speak publicly about it before its close. Helping Haber on the transaction from Latham were partner Charles Nathan from the firm’s New York office; partners Andrew Faye, Mark Stegemoeller and Samuel Weiner from Los Angeles; San Francisco associates Eri Nishikawa, Jennie Do, Alison Shinsato, and Clifton Strickler; Los Angeles associate Ofer Lion; and Washington, D.C., associates J. Benneville Haas and Anthony Casarona.

Jessie Seyfer

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