Milbank Advising the Underwriters in Financing of $1.45B Acquisition by Francisco Partners of CDK International

Milbank LLP is advising the lenders in relation to the financing of the acquisition by Francisco Partners of CDK International.

Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses, announced the execution of a definitive agreement with CDK Global, Inc. to acquire CDK’s International business segment, a leading provider of automotive retail software solutions in EMEA and Asia, for US$1.45 billion.

CDK expects the transaction to be completed during the third quarter of its fiscal year 2021, subject to customary closing conditions and regulatory approval.

The Milbank team is led by European Leveraged Finance and Capital Markets partners Suhrud Mehta and Sarbajeet Nag with associates Laura Bonamis, Michael Gatter, Philipp Engel, Abbey Dalgleish and tax associate Steve Quinn. New York Corporate partner Dean Sattler was supported by Benjamin Fidler and Corporate London associate Gemma Cullen.