GCI Liberty’s Sale Of LendingTree Stake

Baker Botts LLP advised GCI Liberty, Inc. on the deal.

GCI Liberty, Inc. (“GCI Liberty”) (Nasdaq: GLIBA, GLIBP) announced that it has agreed to sell its stake of LendingTree, Inc. (“LendingTree”) and to unwind its forward sale contract on LendingTree shares. The gross proceeds of the sale are expected to be $1,007 million.

GCI Liberty intends to use the proceeds from the sale to pay costs related to unwinding the forward sale contract and for other general corporate purposes that could include debt reduction at GCI Liberty and share repurchases post-closing of the planned merger with Liberty Broadband Corporation (“Liberty Broadband”).

GCI Liberty, Inc. provides telecommunication services. The Company offers broadband, television, tariff information, bills payment, connection and installation, and other related services. GCI Liberty serves customers in the United States.

The Baker Botts team included Samantha Crispin (Partner, Dallas), Adorys Velazquez (Partner, New York), Catherine Gallagher (Partner, Washington, D.C.), Robert Wann (Partner, New York), Nicole Perez (Partner, New York), Beverly Reyes (Partner, New York), John Johnston (Special Counsel, New York), Jennifer Ybarra (Associate, Dallas), Tamar Stanley (Partner, Washington, D.C.), Josh Mandell (Partner, Dallas) and Peter Farrell (Senior Associate, Washington, D.C.).

Involved fees earner: Peter Farrell – Baker Botts; Catherine Gallagher – Baker Botts; Samantha Hale Crispin – Baker Botts; John Johnston – Baker Botts; Josh Mandell – Baker Botts; Nicole Perez – Baker Botts; Beverly Reyes – Baker Botts; Tamar Stanley – Baker Botts; Adorys Velazquez – Baker Botts; Robert Wann Jr. – Baker Botts; Jennifer Ybarra – Baker Botts;

Law Firms: Baker Botts;

Clients: GCI Liberty;

Author: Ambrogio Visconti