Kirkland Advises Navient on Establishing New Holding Company Structure
Kirkland & Ellis advised Navient Holdings, Inc. (Nasdaq: NAVI) on the establishment of a new holding company structure pursuant to an internal reorganization and merger under Section 251(g) of Delaware corporation law. Under the new structure, Navient Holdings, Inc. replaced Navient Corporation as the issuer of public equity securities and became a holding company of Navient LLC and E Parent, Inc. Navient LLC has assumed the obligations of the listed notes formerly held at Navient Corporation and will continue to be a reporting company.
The Kirkland team included corporate lawyers David Klein and John Sheridan; capital markets lawyers Bob Hayward and Anthony Sanderson; tax lawyers Sara Zablotney and Rachel Malhiet; debt finance lawyer Rachael Lichman; executive compensation lawyers Rob Fowler and Stephanie Jeane; and employee benefits lawyer Justin Coddington.
