Chicago, April 10, 2008 – Baker & McKenzie received International Financial Law Review’s (IFLR) Private Equity Deal of the Year award for its work on the acquisition of First Data Corporation by Kohlberg Kravis Roberts & Co. (KKR).  The awards were announced on April 3, 2008 at the IFLR annual awards dinner.  IFLR is a leading magazine for in-house counsel and practitioners in the financial markets.

First Data Corporation, a publicly traded company, was acquired by KKR for $34 per share, and upon completion of the transaction, First Data Corporation became a private company.  Baker & McKenzie’s Global Equity Services group, led by partners Valerie Diamond and Jennifer George, with support from GES attorneys throughout Baker & McKenzie's 70 offices, assisted First Data Corporation in analyzing the issues with regard to outstanding options, restricted stock and restricted stock units held by employees residing outside the United States.  The GES group worked with First Data Corporation to evaluate and comply with legal and tax issues arising from cash out of the equity awards upon the close of the KKR acquisition.  The acquisition was particularly interesting because First Data Corporation had equity awards in nearly 35 countries.  

The Firm’s GES group has advised First Data Corporation on employee equity issues outside the United States for 10 years and assisted with the equity issues involved with the spin off of Western Union Company.

Alongside Baker & McKenzie, Blakes Cassels & Graydon, Davis Polk & Wardwell, Gibson Dunn & Crutcher, Osler Hoskin & Harcourt, Schulte Roth & Zabel, Sidley Austin, Simpson Thacher & Bartlett and Sullivan & Cromwell were also recognized for their part in the award-winning deal.