Here are the Law Firms Developing Okada Manila’s $ 2.5 Billion PSPC Merger

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A man grabs his briefcase as he lines up to speak with employers at the UJA Federation Connect to Care Career Fair in New York, March 21, 2012. REUTERS / Shannon Stapleton (USA – Tags: TODAY’S BUSINESS JOB TPX IMAGES)

  • Baker McKenzie and Milbank advise Okada Manila
  • Schulte Roth & Zabel advises SPAC

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Three law firms – Baker McKenzie, Milbank and Schulte Roth & Zabel – are leading the Philippines-based Okada Manila Casino’s plan to go public in the United States through a $ 2.5 billion merger with a check company in white backed by a former director of Las Vegas Sands Corp.

Okada Manila and blank check company 26 Capital Acquisition Corp announced the deal on Friday, in what a lawyer said was the first merger between a U.S. blank check company and a Filipino company.

Universal Entertainment Corp, the parent company of Okada Manila, turned to Baker McKenzie Tokyo and Milbank for the deal.

Baker McKenzie’s team was led by corporate partner Derek Liu. The firm’s team included business partners Michelle Heisner and Steve Canner; tax partner Ryutaro Oka; and corporate partner Akifusa Takada.

Liu said in a statement that the deal was the first merger between a special purpose acquisition company and a Philippines-based company.

The Milbank team was led by James Grandolfo.

The blank check company 26 Capital works with Schulte Roth & Zabel. The firm’s team is led by Jeffrey Symons and F. Xavier Kowalski, M&A and Securities partners.

Special Purpose Acquisition Companies, or SPACs, raise funds through initial public offerings to merge with private companies and go public.

26 Capital SPAC worked with Ellenoff Grossman & Schole, Graubard Miller advising underwriters, according to a filing with the U.S. Securities and Exchange Commission.

SPAC is supported by Las Vegas Sands Corp Director Jason Ader.

The merger between SPAC and Okada Manila is expected to be finalized in the first half of 2022.

(UPDATE: This story has been updated with the names of Schulte’s lawyers).

Read more:

Filipino company Okada Manila to be listed in US via $ 2.5 billion SPAC deal

Pharmaceutical trader Symons leaves Jones Day for Schulte Roth

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