Legal DealFolio - BioFuel Energy Acquisition of JBGL Builder Equity Interests

On June 11, 2014, BioFuel Energy Corp. announced that it has entered into a definitive agreement with certain affiliates of Greenlight Capital, Inc. and James R. Brickman, pursuant to which BioFuel Energy will acquire the equity interests of JBGL Builder Finance LLC and certain subsidiaries of JBGL Capital, LP from Greenlight and Brickman. Cravath represented BioFuel Energy in connection with this transaction, which is subject to certain conditions and is expected to close in October 2014. JBGL is a series of real estate entities involved in the purchase and development of land for residential purposes, construction lending and home building operations. JBGL is currently owned and controlled by Greenlight and Brickman. Pursuant to the terms of the agreement, BioFuel Energy will acquire JBGL for USD275 million, payable in cash and BioFuel Energy common stock. The cash portion of the purchase price will be funded from the proceeds of a USD70 million rights offering to be conducted by BioFuel Energy and approximately USS150 million in debt financing provided to BioFuel Energy by Greenlight. The Cravath team included partner Craig F. Arcella and associates Benjamin G. Joseloff and Jacquelyn N. Arcati on corporate and securities matters; partner Eric L. Schiele and associates Wenying Zhang and Jennifer L. Tanaka on M and A matters; partner Andrew W. Needham and associates Kara L. Mungovan and Sara L. Lykken on tax matters; partner Eric W. Hilfers, practice area attorney M. C. Tania Balthazaar and associate Amy C. Benford on executive compensation and benefits matters; partner Matthew Morreale on environmental matters; and senior attorney John Gerhard on real estate matters.

Deal Date:	11-06-2014	Practice Area:	Corporate and M&A
Deal Title:	BioFuel Energy Acquisition of JBGL Builder Equity Interests	Industry:	Alternative Energy
Description:	On June 11, 2014, BioFuel Energy Corp. announced that it has entered into a definitive agreement with certain affiliates of Greenlight Capital, Inc. and James R. Brickman, pursuant to which BioFuel Energy will acquire the equity interests of JBGL Builder Finance LLC and certain subsidiaries of JBGL Capital, LP from Greenlight and Brickman. Cravath represented BioFuel Energy in connection with this transaction, which is subject to certain conditions and is expected to close in October 2014. JBGL is a series of real estate entities involved in the purchase and development of land for residential purposes, construction lending and home building operations. JBGL is currently owned and controlled by Greenlight and Brickman. Pursuant to the terms of the agreement, BioFuel Energy will acquire JBGL for USD275 million, payable in cash and BioFuel Energy common stock. The cash portion of the purchase price will be funded from the proceeds of a USD70 million rights offering to be conducted by BioFuel Energy and approximately USS150 million in debt financing provided to BioFuel Energy by Greenlight. The Cravath team included partner Craig F. Arcella and associates Benjamin G. Joseloff and Jacquelyn N. Arcati on corporate and securities matters; partner Eric L. Schiele and associates Wenying Zhang and Jennifer L. Tanaka on M and A matters; partner Andrew W. Needham and associates Kara L. Mungovan and Sara L. Lykken on tax matters; partner Eric W. Hilfers, practice area attorney M. C. Tania Balthazaar and associate Amy C. Benford on executive compensation and benefits matters; partner Matthew Morreale on environmental matters; and senior attorney John Gerhard on real estate matters.
Financial Center:	New York	Value:	100.01-500.00
Advised Party:	Acquiror	Law Firm	Cravath
Target Company Jurisdiction:	United States	Acquiror Jurisdiction:	United States
Classification:	Strategic Buyer Acquisitions Private Company	Lawyer	Craig F Arcella

Practice Areas -

Corporate and M&A Law Firms and Lawyers

Practice Areas - Corporate and M&A Law Firms and Lawyers