General Catalyst in Joint Venture Acquisition of Intersections Inc.

Ropes & Gray advised General Catalyst on the deal. Kramer Levin advised Intersections Inc.

Intersections Inc., a theft protection and privacy services company, and WC SACD One Parent, Inc., a new joint venture entity formed by General Catalyst, iSubscribed and WndrCo, have entered into a merger agreement for the acquisition of Intersections by WC SACD.

Under the terms of the merger agreement, a subsidiary of WC SACD will commence shortly an all-cash tender offer to acquire all of the issued and outstanding shares of Intersections for $3.68 per share. In connection with entry into the merger agreement, WC SACD, together with certain existing noteholders of Intersections (who exchanged their existing notes for the New Notes) acquired approximately $34 million of senior secured convertible notes of Intersections at a conversion price of $2.27 per share.

The Ropes & Gray team representing General Catalyst was led by special situations partner Sarah Schaffer Raux (Picture), mergers & acquisitions partner Jane Goldstein and associates Anthony Bernard and Jessica Ling.

The Kramer Levin team advising Intersections has been led by Corporate partner Todd E. Lenson and includes Corporate partners Jordan M. Rosenbaum and Peter G. Smith; Employee Benefits partner Marissa J. Holob; Corporate counsel Richard H. Gilden; associates Andrew H. Yong and Amanda Webber and law clerk Terron A. East.

Involved fees earner: Richard Gilden – Kramer Levin Naftalis & Frankel LLP; Marissa Holob – Kramer Levin Naftalis & Frankel LLP; Todd Lenson – Kramer Levin Naftalis & Frankel LLP; Jordan Rosenbaum – Kramer Levin Naftalis & Frankel LLP; Peter Smith – Kramer Levin Naftalis & Frankel LLP; Amanda Webber – Kramer Levin Naftalis & Frankel LLP; Andrew Yong – Kramer Levin Naftalis & Frankel LLP; Anthony Bernard – Ropes & Gray; Jane Goldstein – Ropes & Gray; Jessica Ling – Ropes & Gray; Sarah Schaffer Raux – Ropes & Gray;

Law Firms: Kramer Levin Naftalis & Frankel LLP; Ropes & Gray;

Clients: General Catalyst Partners; Intersections Inc.;

Author: Ambrogio Visconti