Simpson Thacher is representing JPMorgan Chase Bank, N.A. in connection with committed debt financing for DoorDash Inc.’s (“DoorDash”) proposed acquisition of Maplebear Inc. (“Instacart”). The transaction is valued at a total purchase price of approximately $17 billion. The committed financing consists of a bridge facility in an aggregate principal amount of up to $13 billion. The transaction is expected to close in the end of 2027 or first half of 2028, subject to the satisfaction of customary closing conditions. Simpson Thacher previously represented the financing sources in connection with DoorDash’s $4 billion acquisition of Deliveroo and the subsequent permanent financing.
DoorDash is building the future of local commerce by connecting people to the best of their neighborhoods. Since its founding in 2013, DoorDash has facilitated over 10 billion consumer orders, driven over $230 billion in sales for merchants, helped dashers earn over $80 billion through the platform, and expanded to more than 40 countries. DoorDash supports businesses of all sizes through multiple brands around the globe, including DoorDash, Deliveroo, SevenRooms, and Wolt. Instacart is a leading grocery technology company that partners with more than 2,200 retail banners – representing nearly 100,000 stores – to transform how people shop for the groceries they need from the retailers they trust, while creating flexible earning opportunities for shoppers.
The Simpson Thacher team includes Dan Kay, Matthew Farrell, Roey Vardi and Colin Dennis (Banking and Credit); David Azarkh, John O’Connell and Andres Cruz (Capital Markets); Pasco Struhs (Executive Compensation and Employee Benefits); Ron Ben-Yehuda, Chandler Gerard-Reimer and Priscilla Kim (Intellectual Property); Michael Mann (Tax); Toby Chun and Shefain Islam (Environmental); Abram Ellis and Anais Bourbon (Regulatory); and Malik Ladhani, Avery Golombek and Soraia Esteves (M&A).