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Joele Frank is handling the pre-packaged, one-day reorganization of Belk department store chain, which has about 300 outlets in the southeastern US.
Founded in 1888, Belk expects to file for Chapter 11 on Feb. 24 and anticipates confirmation of the restructuring on the same day.
Under the plan, Sycamore Partners private equity firm will retain majority control of Belk. Sycamore, KKR and Blackstone Credit have agreed to provide $225M in financing to the chain.
Joele Frank, Wilkinson Brimmer Katcher’s Michael Freitag and Arielle Rothstein represent Sycamore in the Belk reorg.
FGS Global handles Fox Corp. as it agrees to acquire The Roku Channel, which relies on Joele Frank, in a deal valued at $22B.
Caterpillar’s Rob Rengel will join ATI Inc. on June 22 as VP-investor relations, succeeding the retiring David Weston.
Hut 8, energy infrastructure platform, has named NextEra Energy's Mark Eidelman head of IR and SVP of strategic finance.
Teneo handles easyJet as Minneapolis investment firm Castlelake mulls a possible takeover of the British budget airline.
Brunswick Group represents Universal Music Group as it rejects the unsolicited $65B takeover offer by billionaire Ed Ackman's Pershing Square Capital Management because it “fundamentally and materially undervalues” the world’s largest music company.
