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Debevoise advises The Carlyle Group in agreement with Getty Images management to acquire Getty Images from Hellman & Friedman for $3.3 billion
August 15, 2012

Debevoise & Plimpton LLP is advising The Carlyle Group in a partnership agreement with Getty Images management to acquire Getty Images from private equity firm Hellman & Friedman LLC for $3.3 billion. Carlyle will acquire a controlling stake in Getty Images, while Getty Images co-founder and Chairman, Mark Getty, and the Getty family will roll substantially all of their ownership interests into the transaction. Getty Images management, including co-founder and Chief Executive Officer Jonathan Klein, will also invest significant equity in the company. Carlyle Partners V, a $13.7 billion U.S. buyout fund, will provide equity financing for the investment. The transaction is subject to customary regulatory approvals and is expected to close in 2012.

Getty Images is a leading creator and distributor of still imagery, video and multimedia products, as well as a recognized provider of other forms of premium digital content, including music. Getty Images serves business customers in more than 100 countries and is the first place creative and media professionals turn to discover, purchase and manage images and other digital content.

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $156 billion of assets under management in 94 funds and 63 fund of fund vehicles as of March 31, 2012. The Carlyle Group employs approximately 1,300 people in 32 offices across six continents.

The Debevoise team is led by partners Paul S. Bird and Jonathan E. Levitsky, and includes partners David A. Brittenham, Jeffrey P. Cunard, Peter A. Furci and Elizabeth Pagel Serebransky, and associates Kamal Agrawal, Usman Arain, Yasmin Paula P. Carlos, Eric T. Juergens, Sean Kass, Jessica Lehrman, Brooke Monahan McKeever, Jason D. Navarino, Karli P. Robyn and David W. Wicklund.

Debevoise & Plimpton is a leading international law firm, representing a wide range of clients around the world. Founded in 1931, the firm has offices in New York, Washington, D.C., London, Paris, Frankfurt, Moscow, Hong Kong and Shanghai.






     
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