Louis H. Argentieri

Simpson Thacher represented affiliates managed by Corsair Capital in connection with the acquisition of a majority stake in Aurora Payments, a full-service payment solutions provider for small and medium sized businesses across a variety of industries. The transaction closed on December 31, 2021.~~Founded in 2005, Aurora is a united network of processing, technology and payment solutions headquartered in Tempe, Arizona, with 22,000 merchants and $10 billion in annual processing. Aurora offers a one-stop-shop solution for partners and merchants seeking to accept and receive electronic payments. Aurora’s bundled offering provides merchants with a wide range of products, services, customer technology and support capabilities, including point of sale (POS) equipment, transaction processing services and the ability to transfer funds between banks and merchants.~~The Simpson Thacher team includes Louis Argentieri (M&A); Larry Moss, Caitlin Fitzgerald and Charles Pfeifer (Executive Compensation and Employee Benefits); Jonathan Goldstein and Ruoxi Zhang (Tax); Genevieve Dorment, Corina McIntyre and Samuel Watters (Intellectual Property); Barrie Covit, David Whelan, Jeffrey Larocca and Leor Moaddel (Private Funds); Krista McManus and Dennis Loiacono (Real Estate); Michael Isby (Environmental); Peter Guryan, Kelly Karapetyan and Jamie Logie (Antitrust); and Steve DeLott (Insurance).

Apr 1

1 min

Simpson Thacher is representing Apple Leisure Group (ALG) in its proposed sale by affiliates of each of KKR and KSL Capital Partners, LLC to Hyatt Hotels Corporation for $2.7 billion. The transaction is expected to close in the fourth quarter of 2021, subject to customary closing conditions.~~ALG is a leading luxury resort-management services, travel and hospitality group. ALG’s resort brand management platform AMResorts® provides management services to the largest portfolio of luxury all-inclusive resorts in the Americas under the AMR™ Collection brand portfolio, including brands Secrets® Resorts & Spa, Dreams® Resorts & Spas, Breathless® Resorts & Spas and Zoëtry® Wellness & Spa Resorts as well as the Alua® Hotels & Resorts brand, which is expanding in European leisure destinations. The acquisition also includes ALG’s membership offering, Unlimited Vacation Club®, travel distribution business ALG Vacations®, as well as destination management services and travel technology assets.~~The Simpson Thacher team includes Marni Lerner and Louis Argentieri (M&A); Christine Marshall (Credit); Ryan Bekkerus (Capital Markets); Marcy Geller, Sophie Staples and Joseph Tootle (Tax); Tristan Brown and Alyssa Ohanian (Executive Compensation and Employee Benefits); Genevieve Dorment (Intellectual Property); Krista McManus (Real Estate); Michael Isby (Environmental); and Peter Guryan and Richard Jamgochian (Antitrust).

Aug 16

1 min

ExxonMobil alleged that seven insurers failed to cover it against legal claims after two former contractors sued the petroleum giant, contending that exposure to a chemical in oil caused their cancer. Texas-based ExxonMobil alleged in a 30-page complaint filed in New Jersey state court Friday that Hartford Accident and Indemnity Co., Hartford Insurance Co. of the Midwest and other insurers reneged on their contracts to cover the oil company's liabilities if it is sued over bodily injury claims. The suit was removed to New Jersey federal court later that day. In the two underlying lawsuits, two former employees of Island Transportation Corp., a company contracted by ExxonMobil, claimed that they got cancer from benzene, a chemical used to make petroleum. ExxonMobil stated that the insurance companies should cover the claims of the two workers. "ExxonMobil now seeks damages for breach of the insurance contracts sold by the defendant insurance companies and a judicial declaration from this court that each defendant insurance company has a duty to ExxonMobil for defense cost coverage and potential indemnity obligations arising from the underlying actions," the company said in its complaint, in which it is seeking declaratory judgments. The first underlying suit was filed in 2022 by Peter Singh in New Jersey state court. Singh alleged that from the mid-1990s to 2020, he transported ExxonMobil petroleum to various gas stations.  During this time, he claimed he was repeatedly exposed to benzene, which caused his cancer. In February 2024, Harrington Watt filed a similar lawsuit in New York state court, alleging that from 1985 to 2002, he was repeatedly exposed to benzene while transporting petroleum made and sold by ExxonMobil to fueling stations. Both lawsuits are still pending. In the meantime, ExxonMobil had entered into insurance contracts to cover bodily injury lawsuits with Hartford Accident and Indemnity Co., Hartford Insurance Co. of the Midwest, Stonington Insurance Co., Illinois National Insurance Co., Zurich American Insurance Co., National Interstate Insurance Co. and National Interstate Insurance Co. of Hawaii Inc. Those insurers should cover insurance claims related to bodily injury and property damage, according to ExxonMobil's lawsuit. However, the companies denied the oil company's insurance claims. These denials, ExxonMobil alleged, constitute a breach of contract, and it wants the court to determine that the insurers are obligated to cover the bodily injury claims from Watts and Singh. "As a result of the defendant insurance companies' willful breaches of their implied covenant of good faith and fair dealing with ExxonMobil, ExxonMobil has sustained and may in the future sustain damages," the oil company said in its complaint. ExxonMobil is seeking compensatory damages, direct and consequential damages, pre- and post-judgment interest, and attorney fees and costs. Attorneys for ExxonMobil, Hartford Accident and Indemnity Co. and Hartford Insurance Co. of the Midwest didn't immediately respond to requests for comment late Monday. Stonington Insurance Co., Illinois National Insurance Co., Zurich American Insurance Co., National Interstate Insurance Co. and National Interstate Insurance Co. of Hawaii Inc. didn't immediately respond to requests for comment Monday. ExxonMobil is represented by Pamela D. Hans, John P. Lacey Jr., Jorge R. Aviles and Jamie L. O'Neill of Anderson Kill PC. Hartford Accident and Indemnity Co. and Hartford Insurance Co. of the Midwest are represented by Frances A. Lettieri and Louis H. Kozloff of Kennedys CMK LLP. Counsel information for the other insurance companies wasn't immediately available. The case is ExxonMobil Corp. v. Hartford Accident and Indemnity Co. et al., case number 3:25-cv-17591, in the U.S. District Court for the District of New Jersey.

Nov 17

3 min

Simpson Thacher is representing TD Bank Group (TSX and NYSE: TD) in connection with its proposed acquisition of First Horizon Corporation (NYSE: FHN) in an all-cash transaction valued at US$13.4 billion, or $25 for each common share of First Horizon. The transaction is subject to customary closing conditions. On a pro forma basis excluding merger adjustments, TD’s U.S. franchise will be a top six U.S. bank, with approximately $614 billion in assets and a network of 1,560 stores, serving over 10.7 million U.S. customers across 22 states.~~TD is the fifth largest bank in North America by assets and serves more than 26 million customers. TD also ranks among the world’s leading online financial services firms, with more than 15 million active online and mobile customers. TD had CDN$1.7 trillion in assets on October 31, 2021.~~First Horizon, with $89.1 billion in assets as of December 31, 2021, is a leading regional financial services company. Headquartered in Memphis, Tennessee, the banking subsidiary First Horizon Bank operates in 12 states across the southern U.S.~~The Simpson Thacher team includes Lee Meyerson, Ravi Purushotham, Louis Argentieri and Julia Tory (M&A); Adam Cohen and Spencer Sloan (Bank Regulatory); Jeannine McSweeney, Joo Hyun Lee, Patricia Adams and Meredith Brenton (Executive Compensation and Employee Benefits); Benjamin Rippeon, William Smolinski and Andrew L. Mandelbaum (Tax); Lori Lesser, Melanie Jolson and Mark Natividad (IP); David Blass, Meredith Abrams and Daniel Levine (Broker-Dealer); and Peter Guryan and Richard Jamgochian (Antitrust).

Feb 28

1 min

The Firm is representing Blackstone Real Estate Income Trust in connection with its acquisition of Resource REIT, Inc. in an all-cash transaction valued at $3.7 billion. The transaction is expected to close in the second quarter of 2022, subject to customary closing conditions, including the approval of Resource REIT’s common stockholders.~~Resource REIT is a publicly registered non-traded REIT with a portfolio of multi-family, garden-style assets comprised of 42 apartment communities totaling more than 12,600 units. The assets span 13 states, including Arizona, Colorado, Georgia and Texas.~~The Firm has represented Blackstone in five multi-billion dollar take private transactions during the past ten months.~~The Simpson Thacher team includes Brian Stadler, Matt Rogers and Louis Argentieri (M&A); Erik Quarfordt, Rachel Stein, David Rosenberg, Gianna Ceophas and Kristen Lucas (Real Estate); Nancy Mehlman and Ruoxi Zhang (Tax); Andrew Blau and Ryan Stott (Executive Compensation and Employee Benefits); Timothy Mulvihill and Noreen Lavan (Environmental); and Melanie Jolson (Intellectual Property).

Jan 25

1 min