Los Angeles, CA (PRWEB) July 11, 2011
The Los Angeles-based law firm of Rutter Hobbs & Davidoff served as deal counsel to Westlake Financial Services, the nation’s largest private non-bank financial institution specializing in auto financing, in a $250 million equity financing deal that closed July 1, 2011. The transaction was negotiated and consummated with Japanese conglomerate Marubeni Corporation.
“Rutter Hobbs & Davidoff proved to be a great partner and helped us significantly in getting the deal done,” said Don Hankey, chief executive officer of Westlake Financial Services.
The complex global partnership is the culmination of nearly a year of corporate planning and high-level negotiations with Marubeni and its affiliates from New York to Tokyo. Under the deal, Marubeni takes a 20 percent ownership stake of Westlake’s newly issued equity and becomes a minority investor of the company, gaining two seats on its executive board.
"Westlake is a fantastic company led by a highly talented and cohesive management team,” said Attorney Richard Hong of Rutter Hobbs & Davidoff. “We wish Westlake and Marubeni continued success as partners given the mutual respect each party has for one another.”
Attorneys Hong and Rich Sweet of the Corporate Department at Rutter Hobbs & Davidoff acted as lead corporate counsel representing Westlake in the transaction, with valuable assistance from attorneys Andrew Apfelberg and Joel Weinstein of the firm. The successful transaction highlights the firm’s ability to represent corporate clients in complex mergers and acquisitions. In addition, the transaction reflects Rutter Hobbs & Davidoff’s expertise and the strength of its growing international and Asia practice.
About Rutter Hobbs & Davidoff
Los Angeles-based Rutter Hobbs & Davidoff is a full-service law firm founded in 1973. The firm’s seasoned attorneys represent middle market companies, early stage entities, large corporations and individuals in matters involving business litigation and dispute resolution; corporate and securities; bankruptcy, reorganization and capital recovery; estate planning and trust litigation; advertising, media and intellectual property; labor and employment; and, real estate. The firm's diverse team of attorneys and experienced, tenured staff collaborates to deliver consistently excellent service in a timely and cost-effective manner. For more information, please visit http://www.rutterhobbs.com.