Lawyers in Sullivan & Cromwell’s Real Estate Group regularly team with lawyers in the Firm’s Estates and Personal Group on matters related to the ownership, structuring and restructuring of closely held businesses. In particular, S&C has extensive expertise in counseling individual clients and families on issues related to succession planning and generational transition.

Recent S&C estates and personal experience with family business transitions includes representations of:
 
  • Pritzker family beneficiaries, in connection with their private equity investment arm Geolo Capital, parent company of Commune Hotels & Resorts, in Commune’s merger with Destination Hotels and in the restructuring of their $25+ billion worldwide business empire, which includes interests in Global Hyatt, Marmon, TransUnion and Royal Caribbean Cruise Lines.
     
  • Tisch and Mara families, owners of the New York Giants and the New York Football Giants, in the $1.6 billion joint venture with the New York Jets to develop a new football stadium and entertainment and retail complex in the Meadowlands, New Jersey.
     
  • Heyman family and its business interests in connection with its $3.2 billion sale of ISP to Ashland as well as numerous acquisitions, dispositions, financings and other transactions involving its wholly-owned subsidiary Standard Industries, Inc. and other affiliated entities
     
  • a director and Bancroft family member, in connection with News Corp.’s acquisition of Dow Jones for $5 billion. The Bancroft family controlled Dow Jones since 1902, primarily through family trusts.
     
  • Frist family and HCA management, in the $31.6 billion sale of HCA (U.S.) to an investor group.
     
  • McCourt family interests in connection with the $2.15 billion sale of the Los Angeles Dodgers MLB franchise, as well as the formation, restructuring and recapitalization of a real estate joint venture and other planning matters.
     
  • Santo Domingo Group Family (Colombia) and shareholders, in the $7.8 billion sale of Grupo Empresarial Bavaria (Colombia) to SABMiller (U.K.).

For more information on this area of S&C's practice please see the Estates and Personal Group page.