Acquisition of Four Seasons

On April 26, 2007, Four Seasons Hotels Inc. completed a plan of arrangement, pursuant to which Four Seasons was taken private by affiliates of Cascade Investment, L.L.C., Kingdom Hotels and Isadore Sharp. Holders of limited voting shares received US$82 cash per share. The transaction was valued at US$3.8 billion, including debt.

Kingdom Hotels was represented by Stikeman Elliott LLP in Canada, with a team that included Pierre Raymond, Marc Barbeau, Pierre-Yves Leduc, Jean-François Laroche (corporate), Guy Masson and Franco Gadoury (tax), Michel Gélinas (Investment Canada) and Stephen Hamilton (competition), and in the US by Hogan & Hartson LLP, with a team that included Bruce Gilchrist, James Rosenhauer, Joe Connolly, Kevin Harrington, Matt Thomson, Ivan Douglas, Andrew Trubin, Eun Ah Choi and Kyle McNamara (corporate), Ghasson Atiyah (banking), Nancy O'Neil (tax) and Lee Berner (real estate).

Cascade Investment was represented by its in-house legal team of Laurie Smiley and John Stokke and assisted in Canada by McCarthy Tétrault LLP, with a team that included Garth Girvan, Jonathan Grant, Robert Hansen and Janie Lin (corporate); Gabrielle Richards and Gwendolyn Watson (tax) and Oliver Borgers (Investment Canada/competition), and in the US by Cleary Gottlieb Steen & Hamilton LLP, with a team that included Christopher Austin, Michael Gerstenzang, Paul Tiger and Daniel Fernandez (corporate); Arthur Kohn and Marin Feldman (benefits) and Yaron Reich and David Saltzman (tax).

Four Seasons was represented by its in-house legal team, which included Randy Weisz, Sarah Cohen, Joel Monson and Litza Smirnakis. Four Seasons was represented by Goodmans LLP, with a team led by Jonathan Lampe and including Sheldon Freeman, Mark Spiro, Jennifer Suess and Caroline Wang (corporate); Neil Harris and Mitchell Sherman (tax); Tom Friedland and Karen Murdock (litigation); Mario Di Fiore and David Nadler (banking); Richard Annan (competition); Bob Vaux (Investment Canada) and David Katz, Joshua Cammaker and David Feirstein (corporate) of Wachtell, Lipton, Rosen & Katz. The Special Committee of the Independent Directors of Four Seasons was represented by Osler, Hoskin & Harcourt LLP, with a team led by Jean Fraser and including Manny Pressman (corporate); David Tetreault (tax) and Kevin Cramer and Sachin Davé (US corporate).

Isadore Sharp was represented by Ogilvy Renault LLP, with a team that included Norman Steinberg, Ava Yaskiel and Andrew Welsh (corporate); Adrienne Oliver (tax); Ruth Wahl (research); Dany Assaf (Investment Canada/competition) and Anne Gallop (employment).

Citigroup and JPMorgan led a syndicate of lenders to the acquirors, who were represented in Canada by Blake, Cassels & Graydon LLP and in the US by Shearman & Sterling LLP with a team that included Malcolm Montgomery (property); Bernie Pistillo (tax); Tom Hornbaker (property); Tom Day (tax) and J.D. Siegel and Anna Lee Iijima (property).

Lawyer(s)

Neil H. Harris Robert Vaux Mario Di Fiore Oliver J. Borgers Garth (Gary) M. Girvan Jean M. Fraser Robert O. Hansen Jonathan Lampe Gwendolyn G. Watson Andrew Welsh David T. Tetreault Karen Murdock Marc B. Barbeau Dany H. Assaf Pierre A. Raymond Anne K. Gallop Franco Gadoury Stephen W. Hamilton Janie Lin Caroline C.H. Wang Mitchell J. Sherman Thomas A. Friedland Norman M. Steinberg Pierre-Yves Leduc Adrienne F. Oliver Jean-François Laroche Richard Annan Ruth I. Wahl Emmanuel Pressman Jonathan R. Grant David J. Nadler Michel Gélinas Mark Spiro Guy Masson Jennifer Suess Ava G. Yaskiel Sheldon Freeman

Firm(s)

Stikeman Elliott LLP Hogan Lovells US LLP McCarthy Tétrault LLP Cleary, Gottlieb, Steen & Hamilton Goodmans LLP Wachtell, Lipton, Rosen & Katz Osler, Hoskin & Harcourt LLP Norton Rose Fulbright Canada LLP Blake, Cassels & Graydon LLP Shearman & Sterling LLP