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Kirkland & Ellis is advising The Carlyle Group in its acquisition of 100% equity securities of KFC Korea Co., Ltd., the operator of the Kentucky Fried Chicken (KFC) fast-food restaurant business in Korea, along with long term master franchise arrangements with the brand owner, Yum! Brands. The transaction was signed on December 18, 2025. 

Read the transaction announcement
 
The Kirkland team included corporate lawyers Jesse Sheley and Jiayi Wang and technology & IP transactions lawyers Jeffery S. Norman and Min Wang.

Kirkland & Ellis advised Clearwater Analytics (NYSE: CWAN) on its agreement to be acquired in a transaction valued at approximately $8.4 billion by a Permira and Warburg Pincus-led Investor Group, with participation from Temasek. The Investor Group has key support from Francisco Partners. Under the terms of the agreement, CWAN stockholders will receive $24.55 per share in cash upon completion of the proposed transaction. After a thorough process including engaging with certain strategics and financial sponsors, the Special Committee of the CWAN Board of Directors, composed entirely of independent and disinterested directors, upon the advice of its independent outside legal counsel and financial advisor, unanimously recommended this transaction. The CWAN Board of Directors subsequently approved this transaction. The acquisition was announced on December 21, 2025 and is expected to close in the first half of 2026, subject to approval by CWAN’s stockholders (including a majority of votes cast by disinterested stockholders), as well as customary closing conditions, including receipt of regulatory approvals.

Read the transaction press release

The Kirkland team included corporate lawyers Constantine Skarvelis, David Feirstein, Marshall Shaffer, Andrew Norwich, William Vaughan Kelly, Lilly Rohan and Alex Beckham; debt finance lawyers Judson Oswald and Andrew Hurley; capital markets lawyers Ross Leff and Christie Mok; tax lawyers Sara Zablotney, Joseph Tootle, and Grace Nielsen; shareholder activism & hostile takeover defense lawyers Shaun Mathew, Evan Johnson and Vera Lee; antitrust & competition lawyers Maria Raptis and Edward Sharon; international trade & national lawyers Luci Hague and John Kabealo; employee benefits lawyers Alexandra Mihalas and Anthony Aliantro; executive compensation lawyer Devin Kern; employment & labor lawyers Jackie Heffernan and Jon Link; technology & IP transactions lawyers Matt Darch, Matt Lovell and Dan Sotos; real estate lawyers John Goldman and Zeina Kazour; and environmental transaction lawyers Jonathan Kidwell and Isaac Lawrence.