Goldfinch Partners and Baupost Group’s $910 Million Acquisition Of Western Union Business Solutions

Freshfields represented Western Union on the deal, while Skadden and Khaitan & Co represented Baupost Group and Goldfinch Partners.

Western Union, the global leader in cross-border, cross-currency money movement and payments, sold Western Union Business Solutions for $910 million in cash to a private equity consortium of Goldfinch Partners and Baupost Group.

Western Union Business Solutions facilitates cross-border, cross-currency payments and foreign exchange solutions for businesses globally.

The Baupost Group is a hedge fund founded in 1982 by Harvard Professor William Poorvu and partners Howard Stevenson, Jordan Baruch and Isaac Auerbach.

Founded in December 2018, Goldfinch Partners invests in the enterprise technology companies that power digital transformation.

The Freshfields corporate/M&A team was led by counsel Zheng (Jonathan) Zhou (Picture), associates Vinita Sithapathy and Sally Wu, and partner Ethan Klingsberg, all from the New York office, and associate David Chen from Silicon Valley. The bank regulatory team is led by partner Brian Rance and associate Francesca Loreto in New York, partner Florian Klimscha and associates Eva Schneider and Christian Oberkersch in Vienna, and partner Emma Rachmaninov and associates Charlotte Witherington and Fionn O’Toole in London. Employee benefits and labor law matters are being handled by partner Maj Vaseghi in Silicon Valley and associate Jordan Salzman in New York, as well as partner Karin Buzanich-Sommeregger and associates Leonhard Prasser and Agnieszka Branding in Vienna. Tax matters are being led by partner Robert Scarborough and associate David Mitchell in New York, with support from associates Katharina Kubik and Lukas Allram in Vienna. Data privacy and IP matters are being led by partner Mena Kaplan and associate Laurie Morgan in New York, counsel Peter Jaffe in DC and Gernot Fritz in Vienna. Partner Meghan Rissmiller and associate Ilana Kattan are handling antitrust matters out of DC, while foreign investment regulatory matters are being handled by partner Aimen Mir and counsel Christine Laciak in DC and associate Lukas Pomaroli in Vienna. Compliance advice is being provided by counsel Stephanie Brown Cripps in New York and associate Andrew Bulovsky in DC. Financing advice is being provided by partner Kyle Lakin in New York and corporate support on UK matters is being provided by associate Carl Hotton in London. Corporate support on Austrian matters is being provided by partner Farid Sigari-Majd and associates Dora Rendessy, Stephan Roedler and Maria Tumpel.

The global Skadden M&A team was led by partners David Eisman in Los Angeles and Simon Toms in London. Partner Brian Christiansen in Washington, D.C., and of counsel Azad Ali in London provided U.S. and UK regulatory advice.

The Anoma Legal team consisted of Corporate M&A Partner Ashwin Bishnoi, Rohit Ambast (Counsel) and Pranay Kapoor (Senior Associate); Employment aspects: Anshul Prakash (Partner) and Deepak Kumar (Partner); Direct Tax aspects: Ritu Shaktawat (Partner) and Sneh Shah (Principal Associate).

Involved fees earner: Lukas Allram – Freshfields Bruckhaus Deringer LLP; Agnieszka Branding – Freshfields Bruckhaus Deringer LLP; Stephanie Brown Cripps – Freshfields Bruckhaus Deringer LLP; Andrew Bulovsky – Freshfields Bruckhaus Deringer LLP; Karin Buzanich-Sommeregger – Freshfields Bruckhaus Deringer LLP; David Chen – Freshfields Bruckhaus Deringer LLP; Gernot Fritz – Freshfields Bruckhaus Deringer LLP; Carl Hotton – Freshfields Bruckhaus Deringer LLP; Peter Jaffe – Freshfields Bruckhaus Deringer LLP; Mena Kaplan – Freshfields Bruckhaus Deringer LLP; Ilana Kattan – Freshfields Bruckhaus Deringer LLP; Florian Klimscha – Freshfields Bruckhaus Deringer LLP; Ethan Klingsberg – Freshfields Bruckhaus Deringer LLP; Katharina Kubik – Freshfields Bruckhaus Deringer LLP; Christine Laciak – Freshfields Bruckhaus Deringer LLP; Kyle Lakin – Freshfields Bruckhaus Deringer LLP; Francesca Loreto – Freshfields Bruckhaus Deringer LLP; Aimen Mir – Freshfields Bruckhaus Deringer LLP; David Mitchell – Freshfields Bruckhaus Deringer LLP; Laurie Morgan – Freshfields Bruckhaus Deringer LLP; Christian Oberkersch – Freshfields Bruckhaus Deringer LLP; Lukas Pomaroli – Freshfields Bruckhaus Deringer LLP; Leonhard Prasser – Freshfields Bruckhaus Deringer LLP; Emma Rachmaninov – Freshfields Bruckhaus Deringer LLP; Brian Rance – Freshfields Bruckhaus Deringer LLP; Dora Rendessy – Freshfields Bruckhaus Deringer LLP; Meghan Rissmiller – Freshfields Bruckhaus Deringer LLP; Stephan Rödler – Freshfields Bruckhaus Deringer LLP; Jordan Salzman – Freshfields Bruckhaus Deringer LLP; Robert Scarborough – Freshfields Bruckhaus Deringer LLP; Eva Schneider – Freshfields Bruckhaus Deringer LLP; Farid Sigari-Majd – Freshfields Bruckhaus Deringer LLP; Vinita Sithapathy – Freshfields Bruckhaus Deringer LLP; Maria Tumpel – Freshfields Bruckhaus Deringer LLP; Maj Vaseghi – Freshfields Bruckhaus Deringer LLP; Charlotte Witherington – Freshfields Bruckhaus Deringer LLP; Zheng Zhou – Freshfields Bruckhaus Deringer LLP; Rohit Ambast – Khaitan & Co.; Ashwin Bishnoi – Khaitan & Co.; Pranay Kapoor – Khaitan & Co.; Deepak Kumar – Khaitan & Co.; Anshul Prakash – Khaitan & Co.; Sneh Shah – Khaitan & Co.; Ritu Shaktawat – Khaitan & Co.; Azad Ali – Skadden Arps Slate Meager & Flom; Brian Christiansen – Skadden Arps Slate Meager & Flom; David Eisman – Skadden Arps Slate Meager & Flom; Simon Toms – Skadden Arps Slate Meager & Flom;

Law Firms: Freshfields Bruckhaus Deringer LLP; Khaitan & Co.; Skadden Arps Slate Meager & Flom;

Clients: Baupost Group LLC; Goldfinch Partners; Western Union;

Martina Bellini

Author: Martina Bellini