Alinda Capital Partners’ Acquisition of Conduent’s Commercial Vehicle Operations Business


Cravath is representing Conduent in connection with the transaction.

Conduent Incorporated (NYSE: CNDT) has entered into a binding agreement to sell its commercial vehicle operations (CVO) business to investment funds managed by Alinda Capital Partners. This divestiture, which generated approximately $70 million in revenue in 2017, is part of the previously announced Conduent plan to divest $250 to $500 million in revenue associated with non-core assets.

The transaction, which is subject to certain regulatory approval and customary closing conditions, is expected to close during the second quarter of 2018. Until then, this business will continue to be part of Conduent and Conduent Transportation.

The Cravath team is led by partners Keith Hallam (Picture) and Robert I. Townsend III and includes foreign associate attorney Henrik Dock and associates C. Daniel Haaren, Brendan M. Cottington, Stephanie M. Park and Saagar Kaul on M&A matters; partner Eric W. Hilfers and associate Daniel P. Herrmann on executive compensation and benefits matters; partner Kara L. Mungovan and associate Kiran Sheffrin on tax matters; partner David J. Kappos and associates Joel Feigenbaum and Jessica M. Goodman on intellectual property matters; partner Stephen M. Kessing on financing matters; partner Margaret Segall D’Amico and senior attorney Jesse M. Weiss on antitrust matters; and senior attorney Joyce Law and practice area attorney Brian M. Budnick on real estate matters.

Involved fees earner: Keith Hallam – Cravath Swaine & Moore; Robert Townsend III – Cravath Swaine & Moore; Daniel Haaren – Cravath Swaine & Moore; Brendan Cottington – Cravath Swaine & Moore; Stephanie Park – Cravath Swaine & Moore; Eric Hilfers – Cravath Swaine & Moore; Daniel Herrmann – Cravath Swaine & Moore; Kara Mungovan – Cravath Swaine & Moore; Kiran Sheffrin – Cravath Swaine & Moore; David Kappos – Cravath Swaine & Moore; Stephen Kessing – Cravath Swaine & Moore; Margaret Segall D’Amico – Cravath Swaine & Moore; Jesse Weiss – Cravath Swaine & Moore; Joyce Law – Cravath Swaine & Moore; Brian Budnick – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: Conduent Inc.;

Avatar

Author: Ambrogio Visconti