Strategic Joint Ventures for Clients

Sodexho : Marriott
co-represented Marriott in seeking an alternative to outright divestiture of a service business no longer deemed integral to corporate strategy. Given business conditions, sale of Marriott Host also posed the problem of a net adverse write-down of the asset. Seeking a partnership into which the business might be spun off was a solid alternative. By exploring some equity participation for "earnout", and soliciting the best relevant leadershp partner, it was conceivable to deliver a gain to benefit shareholders. This outcome has been harvested through Sodexho Marriott Services and the successor entity, "Sodexho Alliance." Today, Sodexho is the pre-eminent multinational provider of food and facilities management services. This $12 Billion company is also the second-largest provider of service vouchers, related transaction cards, as well as the leading company in river and harbor cruises.