Olshan Represents Alleghany Corporation in Financing
NEW YORK, March 5, 2012 -- Olshan represented Alleghany Corporation (NYSE: Y) (“Alleghany”) in a $7 million round of institutional financing of Article One Partners, the world’s largest patent research community (“AOP”).
Under the terms of the financing, Alleghany Capital Corporation, a subsidiary of Alleghany (“Alleghany Capital”), paid $7 million in exchange for units of membership interest of AOP. This is the second round of institutional financing of AOP by Alleghany Capital, which completed a $5 million round in the third quarter of 2010.
Alleghany is engaged in the ownership and management of operating subsidiaries and investments, anchored by a core position in property and casualty insurance. Alleghany has agreed to acquire reinsurer Transatlantic Holdings, Inc. for $3.4 billion.
The Olshan team that represented Alleghany on this transaction was led by Corporate partner Kenneth M. Silverman, and included Tax partner Nina Krauthamer and Corporate associate Kenneth S. Mantel.
Sidley Austin LLP represented AOP on this transaction.
Olshan’s Corporate group represents public and private issuers, underwriters and investors, including hedge funds, venture capital firms, investment advisers and high net worth individuals. Representation of issuers includes serving as general and special counsel for a large and diverse group of public companies listed on the NYSE, NYSE Amex and NASDAQ stock exchanges.