The international law firm Milbank, Tweed, Hadley & McCloy LLP advises EQT VIII SCSp ("EQT") on the acquisition of the SUSE business segment from Micro Focus International plc, the global infrastructure software business, for a total cash consideration of approx. US $2.5 billion.
SUSE, a pioneer in Open Source software, develops markets and supports an enterprise grade Linux operating system, Open Source software-defined infrastructure and application delivery solutions that give enterprises greater control and flexibility over their IT systems.
Due to the value of the transaction relative to the market capitalisation of Micro Focus, the transaction is classified as a Class 1 transaction pursuant to the UK Listing Rules and, as a result, requires Micro Focus shareholder approval. Prior to completion, the SUSE business has to be carved out from the retained business of Micro Focus. Completion is expected to occur in the first quarter of 2019.
A Milbank team headed by partner Steffen Oppenländer advises EQT on the acquisition.
Advisor to EQT: Milbank, Tweed Hadley & McCloy LLP
Steffen Oppenländer (lead Corporate/M&A Munich), Mark Stamp (Corporate/M&A, London), Joel Harrison (IP, London), Rolf Füger (Tax, Munich), Alexander Rinne (Regulatory, Munich), counsel Alison Beal (IP, London), Nathaniel Browand (IP, New York) and Matthew Mortimer (Tax, London) as well as associates Merih Altay and James Mackay (both Corporate/M&A, London), Tian-Gu Shum, Fritz Schuchmann (both Corporate/M&A, Munich), Caroline Vorce (Corporate/M&A, New York), Vanessa van Weelden (Regulatory, Munich), Katherine Soanes (Employment and Benefits, London) and Kelly Bartley (Employment and Benefits, New York)