Latham & Watkins Advises Co-Investors in Albertsons Companies’ US$1.75 Billion Preferred Equity Investment

Multidisciplinary team represented certain of the investors in the transaction.

May 26, 2020

Albertsons Companies, Inc., one of the largest food and drug retailers in the United States, has announced that investors have committed to purchase US$1.75 billion of convertible preferred stock of Albertsons Companies. Following a repurchase of a portion of the common stock owned by the company's current shareholders, on an as-converted basis the preferred stock will represent approximately 17.5% of pro forma common stock outstanding. The transaction is expected to close by June 15, 2020, subject to customary closing conditions.

Latham & Watkins LLP represented certain of the investors with a corporate team led by New York partners Stelios Saffos and Peter Sluka, with associates Jennifer Wong and Sophia Choi. Advice was also provided on real estate matters by New York partner Michelle Kelban and Chicago partner Rachel Bates, with associates Kimberly Lucas, Mark Semotiuk, and Achraf Farraj; on tax matters by New York partner Jocelyn Noll, with associate Eric Kamerman; and on benefits & compensation matters by New York partner Austin Ozawa, with associate Megan Alessi.

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