Clifford Chance (CC), Linklaters and Latham & Watkins are advising on the $7.7bn bid by China National Chemical Corp (ChemChina) to buy Italian tire-maker Pirelli, a deal that will give Chinese investors a significant foothold in Italy’s manufacturing industry while signalling continued Chinese investment into Europe.
Guest post: Despair and not a lot of hope … what the coalition has done to UK justice
Rarely, if ever, has a British government engaged in such an assault on justice than the present coalition. The brunt of the assault applies to England and Wales since justice matters are mostly devolved to Scotland and Northern Ireland.
Asia: BLP launches international arbitration practice in Hong Kong with local team hire
Berwin Leighton Paisner (BLP) has launched an arbitration practice in Hong Kong with the hire of a nine-strong team from local boutique Haley & Co, in a bid to ‘create a powerful international arbitration and real estate offering in the region’.
In-house: Barclays’ Asia GC set for EME investment bank role following Handling’s departure
Barclays has appointed Simon Croxford as general counsel (GC) for Investment Banking for the Europe and Middle East region (EME) following the departure of Erica Handling.
Guest post: What can IP offer Africa – and what can Africa offer IP?
A handsome book recently arrived on my crowded desk, demanding attention: it’s Innovation & Intellectual Property: Collaborative Dynamics in Africa, edited by scholars Jeremy de Beer, Chris Armstrong, Chidi Oguamanam and Tobia Schonwetter. Published by the UCT Press in association with the IP Unit of the Faculty of Law, University of Cape Town (that’s what ‘UCT’ stands for) and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), it’s one of those lovely books that you don’t have to buy since you can read it online or download it in its entirety – all 431 pages of it – by accessing its website here.
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Senior appointments: A&O names Muzilla as US corporate finance head after Wickenden steps down
Allen & Overy (A&O) head of US corporate finance Jim Wickenden has left the firm, leading to the appointment of high-yield partner Kevin Muzilla as the new head.
In-house: Bank of England appoints ex-CC partner Sonya Branch as its new general counsel
The Bank of England (BoE) has appointed former Clifford Chance (CC) competition and regulatory partner Sonya Branch as its new general counsel (GC), following the retirement of Graham Nicholson.
Tackling evasion: Government set to create strict liability for offshore tax evasion despite Law Society concerns
The government has announced today (19 March) it is to establish a strict liability offence for offshore tax evasion – despite concerns expressed by regulatory bodies including the Law Society.
Significant mandates: Freshfields acts for the Bank of England as SFO investigates money-market auctions
Freshfields Bruckhaus Deringer is representing the Bank of England (BoE) as the Serious Fraud Office (SFO) launches an investigation regarding money-market auctions which the bank carried out during the financial crisis.
Comment: Life after Sir Nigel – They built it, now what?
DLA Piper’s new head Simon Levine jokes about avoiding becoming the David Moyes to his high-profile predecessor’s Alex Ferguson, but you could make a stronger case that Sir Nigel Knowles’ (pictured) transformative track record at DLA Piper is closer to making him the firm’s Tony Blair.
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Protecting the brand: British American Tobacco instructs Herbert Smith Freehills for plain packaging challenge
British American Tobacco (BAT) has gifted Herbert Smith Freehills (HSF) with a major disputes mandate, and instructed the firm as the tobacco giant challenges the UK government’s plans to bring in plain cigarette packaging.
A €6.6bn purchase: Linklaters and Milbank advise on Borealis’ Swedish Fortum Distribution deal
Linklaters and US firm Milbank, Tweed, Hadley & McCloy have picked up key instructions on the €6.6bn purchase of Fortum Distribution, the owner of Fortum’s electricity distribution business in Sweden, by Borealis Infrastructure Management.
Budget 2015: Legal reaction to the government’s pre-election plans for pensions, tax and the oil industry
In his final Budget before the general election in May, Chancellor of the Exchequer George Osborne has today (18 March) set out his tax and spending plans to MPs, with an agenda including further reforming the pension industry, raising £5.3bn from the banking sector, tackling tax avoidance and evasion, and supporting the North Sea oil industry.
Consolidation: Latham set to shut Abu Dhabi and Doha offices as it refocuses efforts in Dubai
Latham & Watkins has internally announced today (18 March) that it will close two offices in the Middle East by the end of the year, shutting down its outposts in Abu Dhabi and Doha, and relocating staff to its Dubai operation.
Comment: The case against value – the virtue that can become vice
It’s the spirit of the age that law firms feel the need to not only deliver better value and efficiency but to be seen to do so by clients.
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‘We have to find our own place’: Mishcon de Reya kicks off strategy review as it looks for 10-year plan
After surpassing revenue targets two years early last summer, high-flying City firm Mishcon de Reya has kick-started the process for its firmwide strategy review and is currently interviewing external consultants to help shape its vision.
‘A strategic priority’: DLA Piper builds competition team with Dentons’ Sam Szlezinger
Building the team: Cooley hires Reed Smith life sciences partner duo
Cooley has made more recruits to its newly launched London office with the hire of Reed Smith life sciences partner duo John Wilkinson and Nicola Maguire.
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Three in London: Freshfields Bruckhaus Deringer makes up 17 in 2015 promotions round
In its latest partner promotions, Freshfields Bruckhaus Deringer has made up its fewest number of partners in the City since 2009, with just three lawyers making the cut out of a 17-strong round.
Revolving doors: Magic Circle loses partners in Europe and Asia while Bakers hires in Africa
Last week saw both Clifford Chance (CC) and Allen & Overy (A&O) lose partners in Europe while, in Hong Kong, Linklaters lost a capital markets partner to Freshfields Bruckhaus Deringer. In South Africa, Baker & McKenzie made a significant hire, bringing in DLA Cliffe Dekker Hofmeyr’s head of projects and infrastructure.