Davis Polk & Wardwell and Weil Gotshal & Manges are both advising on a $16.7bn (£10.7bn) deal that will see General Electric (GE) sell its 49% stake in US media and entertainment giant NBCUniversal (NBCU) to majority shareholder Comcast Corporation. Under the terms of the agreement, US cable operator Comcast will pay NBCU $12bn (£7.7bn) in cash with $4bn (£2.6bn) in Comcast guaranteed debt and $700m (£450m) of preferred stock in acquiring full ownership of the film and television business.
February 13, 2013 at 08:26 AM
1 minute read
The original version of this story was published on Legalweek
Davis Polk & Wardwell and Weil Gotshal & Manges are both advising on a $16.7bn (£10.7bn) deal that will see General Electric (GE) sell its 49% stake in US media and entertainment giant NBCUniversal (NBCU) to majority shareholder Comcast Corporation.
Under the terms of the agreement, US cable operator Comcast will pay NBCU $12bn (£7.7bn) in cash with $4bn (£2.6bn) in Comcast guaranteed debt and $700m (£450m) of preferred stock in acquiring full ownership of the film and television business.
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