Standout corporate mandates over the past few days have included a high profile run by Slaughter and May on deals including a £3.6bn bulk annuity buy-in over the ICI Pension Fund and Standard Life’s £390m acquisition of Ignis Asset Management, as Travers Smith and Kirkland & Ellis led on the $3.1bn acquisition of Nordic card-payment business Nets Holding. Continue reading “Deal Watch: Slaughters advises on £3.6bn ICI pension annuity buy-in and £390m Ignis buyout; Travers leads on $3.1bn Nets sale”
Global London 2014
Partner promotions – Trowers, Nabarro and BLP see reduced numbers as Addleshaws holds on eight
Partner promotions at the UK’s leading firms have largely been down so far down this year, as firms including Trowers & Hamlins, Nabarro and Berwin Leighton Paisner all promote fewer senior associates than last year, with Addleshaw Goddard maintaining a promotion level of eight associates. Continue reading “Partner promotions – Trowers, Nabarro and BLP see reduced numbers as Addleshaws holds on eight”
Crown Estate halves coastal and rural property panel with appointment of Burges Salmon and Bond Dickinson
The Crown Estate has halved its rural and coastal portfolio and Windsor Estate legal panel from four to two, re-appointing Burges Salmon and Bond Dickinson but not Clarke Willmott or Thomas Eggar, the sovereign property portfolio announced today (1 April 2014). Continue reading “Crown Estate halves coastal and rural property panel with appointment of Burges Salmon and Bond Dickinson”
Freshfields earns £1.8m advising government on Royal Mail privatisation
Magic Circle firm Freshfields Bruckhaus Deringer accumulated £1.8m in legal fees for its advice to the UK government on the controversial privatisation of Royal Mail last year, a report out today (1 April) from the National Audit Office (NAO) has revealed. Continue reading “Freshfields earns £1.8m advising government on Royal Mail privatisation”
Tom Kilroy re-joins Misys in chief of staff role as financial market speculates over ‘eventual flotation’
After a five month stint at biotechnology company Genus as general counsel (GC), Tom Kilroy has returned to banking software company Misys, this time as chief of staff. Continue reading “Tom Kilroy re-joins Misys in chief of staff role as financial market speculates over ‘eventual flotation’”
The new ASOS? Boohoo.com announces new panel after expectation-surpassing AIM listing
Just a couple of weeks after online fashion retailer Boohoo.com became a stock market sensation, seeing its stock soar 50% on its first day of trading, netting its founders £125m in a matter of minutes, the Burnley-based start-up has appointed DLA Piper, TLT, Addleshaw Goddard and Pannone Corporate to its legal panel. Continue reading “The new ASOS? Boohoo.com announces new panel after expectation-surpassing AIM listing”
Revolving Doors: Brodies hires Transocean former GC as Squire Sanders and Bird & Bird make key hires
The past week was one for lateral hires outside the City, as Brodies boosted its oil and gas practice with the hire of former Transocean general counsel for Africa and the Mediterranean, Tom Hickey; Squire Sanders beefed up its construction team in Manchester with former head of construction and engineering and corporate services at Pannone, Sean McCay; and Bird & Bird bolstered its Brussels base with the second competition partner exit from Ashurst’s Brussels office in two months. Continue reading “Revolving Doors: Brodies hires Transocean former GC as Squire Sanders and Bird & Bird make key hires”
Eversheds pursues Africa expansion with Morocco partnership
Eversheds has made good on its African expansion strategy by signing a partnership agreement with existing relationship firm CWA Morocco, establishing new offices in Casablanca and Tangier. Continue reading “Eversheds pursues Africa expansion with Morocco partnership”
Management elections at Pinsents as firm makes up 15 new partners
Pinsent Masons is getting ready for its first management elections since current managing partner David Ryan was elected in 1999, after 2012 elections were delayed. Continue reading “Management elections at Pinsents as firm makes up 15 new partners”
Diageo’s consolidated panel unveiled as Slaughters, Addleshaws and Pinsents win a place
Global drinks brand Diageo has appointed Slaughter and May, Addleshaw Goddard and Pinsent Masons as its ‘general preferred suppliers’ for the UK following a four-month long review. Continue reading “Diageo’s consolidated panel unveiled as Slaughters, Addleshaws and Pinsents win a place”
Squire Sanders reveals almost flat US turnover and profits as Patton Boggs talks ongoing
Squire Sanders has unveiled largely flat 2013 results in the US, with revenue at the top 15 LB100 firm, which is still in merger talks with Washington’s Patton Boggs, nudging up just 0.1% to $775m. Continue reading “Squire Sanders reveals almost flat US turnover and profits as Patton Boggs talks ongoing”
Succeed or fail, the merger talks between China’s Zhong Lun and Jun He are something of a game changer
With the weight of economic power widely-regarded to be shifting east, a tie-up between Chinese merger talks partners Zhong Lun and Jun He would give the merged entity unrivalled breadth in the People’s Republic of China (PRC) and beyond, although UK partners say they have no immediate concerns that the firm would be competing with them for deals on the world stage. Continue reading “Succeed or fail, the merger talks between China’s Zhong Lun and Jun He are something of a game changer”
Withers to appeal £1.6m negligence finding as former client also appeals point of judgment
Leading private client firm Withers has confirmed it will appeal a recent High Court decision that ordered the firm to pay £1.6m in damages after upholding a professional negligence claim, while the claimant Wellesley Partners (WP) has said it also intends to appeal a finding of the judgment. Continue reading “Withers to appeal £1.6m negligence finding as former client also appeals point of judgment”
Stephenson Harwood enters Formal Law Alliance with Singapore’s Virtus Law
Stephenson Harwood has received formal approval to work with Singapore firm Virtus Law from the local Attorney General’s Chambers.
Under the Formal Law Alliance (FLA), the firms will work more closely together to undertake work requiring both English and Singapore law expertise. Continue reading “Stephenson Harwood enters Formal Law Alliance with Singapore’s Virtus Law”
Hogan Lovells, CC, Simpson Thacher and Ashurst secure roles on Investindustrial’s €2bn sale of Avincis
Hogan Lovells and Clifford Chance (CC) have secured leading corporate roles on European investment group Investindustrial’s €2bn disposal of aerial service provider Avincis to Babcock International, with Simpson Thacher & Bartlett and Ashurst also advising on the deal. Continue reading “Hogan Lovells, CC, Simpson Thacher and Ashurst secure roles on Investindustrial’s €2bn sale of Avincis”
‘Definitely more interest in the EU’ – OC’s Silicon Valley head talks San Francisco launch and US strategy
Building on its existing offices in the Silicon Valley and New York, Osborne Clarke (OC) is rolling out its strategy of providing European legal advice to digital businesses in the US with the launch of a new San Francisco base, which office head Steve Wilson says will help the firm engrain itself in the area’s budding digital business community. Continue reading “‘Definitely more interest in the EU’ – OC’s Silicon Valley head talks San Francisco launch and US strategy”
Skadden latest US firm to enter Seoul after obtaining local licence
Skadden, Arps, Slate, Meagher & Flom has announced it is opening in Seoul, South Korea, joining a growing number of UK and US firms who have already entered the market. Continue reading “Skadden latest US firm to enter Seoul after obtaining local licence”
RBS: some recovery in sight but weak demand and 5,000 surplus solicitors still define turbulent legal market
Disaggregated, wrestling with tight margins, reliant on defensive mergers and probably still with more than 5,000 un-needed solicitors in England and Wales – the good news is that there actually is some good news in a new report on the profession from the Royal Bank of Scotland (RBS).
Irwin Mitchell replaces overdraft facility with £60m finance package
Irwin Mitchell has secured a £60m four-year finance package with an additional £30m ‘accordion’ facility with HSBC, Lloyds and Royal Bank of Scotland to fund its strategic plan to grow its business ‘substantially’. Continue reading “Irwin Mitchell replaces overdraft facility with £60m finance package”