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"It was a restructuring and private-equity assignment," and private equity was Rattner's forte.
While variable interest entities in such cases are technically owned by the Chinese, foreign-owned corporations maintain de facto control through a series of contracts that can involve equity pledges, profit assignments, purchase options and service or consulting agreements.
Transaction Details Under the terms of the definitive agreement, On Assignment will acquire all of Apex Systems' equity and retire all of its debt, for a total of $600 million.
For example, assignment of the patent in exchange for equity in the company or for a share of the profits may be attractive to both parties.
Each bank typically charges several hundred dollars to $1,500, or more, according to Equity Now, which keeps a database on New York-area assignment fees.
But Mr. Ventresca said that the firm is confident the practice will get busier, with his team filling its pipeline with more assignments to sell ever-bigger companies and private equity firms eager to strike deals.
On Assignment expects its increased scale, along with strong revenue and free cash flow generation, to result in rapid deleveraging, creating further equity value.
Tough assignment.
Your assignment?
Some assignment.
Recent assignments include advising Johnson & Johnson in its $21.3 billion acquisition of Synthes and representing a special committee of J. Crew's board in the $3 billion buyout by two private equity firms.
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