A handful of major corporate mandates were unveiled this week as private equity house Cinven kicked off its £1.4bn proposed initial public offering (IPO) of annuity provider Partnership Assurance Group and Severn Trent rejected a preliminary takeover offer by an international consortium.
Amidst signs of renewed confidence in the IPO market, Cinven has instructed Freshfields Bruckhaus Deringer - led by corporate partners Mark Austin and Adrian Maguire - to advise on the float of Partnership Assurance, which Cinven acquired for €200m in 2008. Corporate partners Sarah Murphy and David Higgins are also advising on the deal, together with employment and benefits partner Simon Evans. The Magic Circle firm is acting as US and English counsel.
The lateral hire market has been particularly active in Asia this week, with some of the most established international players in the region losing experienced partners.
The most notable move came in Japan, where US firm Bingham McCutchen has added seven White & Case lawyers to its investment funds team in Tokyo.
The appetite of Texan firms for the UK energy market shows no sign of abating with news that Houston-based Andrews Kurth is to follow neighbours Bracewell & Giuliani and Locke Lord into the City.
The Andrews Kurth launch is spearheaded by UK energy specialist Peter Roberts, who is leaving Ashurst two years after becoming partner.
The increased importance of Turkey as strategic hub for international firms has been underlined with news that US firm Edwards Wildman Palmer is to open an office in Istanbul in association with local M&A and private equity boutique Ismen Law Firm.
The date of the opening will depend on regulatory approval by the Istanbul Bar Association but it will become the 600-lawyer firm's the first office in the Central & Eastern Europe, Middle East and Northern Africa (CEEMENA) region.