New York, NY (August 2, 2010) - Paul, Hastings, Janofsky & Walker LLP, a leading global law firm, announced today that the firm advised Crystal River Capital, Inc., a specialty finance real estate investment trust (REIT), on its going private merger transaction, which closed on July 30, 2010.
Pursuant to the terms of a merger agreement, Crystal River Capital merged with and into a wholly owned subsidiary of Brookfield Asset Management Inc. (Brookfield), an Ontario corporation, with Crystal River Capital surviving as a wholly owned subsidiary of Brookfield. As a result of the transaction, each share of Crystal River Capitals common stock was converted into the right to receive $0.60 in cash. The stockholders of Crystal River Capital approved the merger at a special meeting held on July 30, 2010.
Partner Michael L. Zuppone led the Paul Hastings team, which included of counsel Keith D. Pisani and associates Yariv Katz, Claudia J. Kim, Michelle Yang and Hyunah Kang.
About Crystal River Capital, Inc.: Crystal River Capital, Inc. is a specialty finance REIT, invested in commercial real estate, real estate loans, and real estate-related securities, such as commercial and residential mortgage-backed securities.
Paul, Hastings, Janofsky & Walker is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.