The latest move by CMS to enhance its international offering lies at the cross roads between Europe and Asia, with the Global 100 firm today (7 Nov) announcing that it is to launch an office in Istanbul – the latest western firm to open in one of the world’s fastest-growing economies.
As partners Döne Yalçin and John Fitzpatrick relocate to Istanbul to lead the new venture, the office will offer services in project finance and infrastructure work, with further plans to expand in the fields of energy, capital markets, and M&A. Continue reading “West meets East – CMS latest to announce Istanbul office launch”
Aviation lawyers expect further consolidation within the airline industry as Aegean Airlines was on Wednesday (9 October) given the all clear to buy troubled Olympic Air, led by White & Case and Baker & McKenzie.
The European Commission (EC) took the first-time step of reversing its earlier decision to block an acquisition attempt in 2011, approving the buyout from investment group Marfin. Continue reading “Aviation: Further consolidation predicted as Aegean acquisition of Olympic approved”
Despite corporate partners attesting to a summer lull (if only by their absence from the office), the past month brought with it a number of headline European M&A deals, including a €17bn (including €9.8bn of net debt) bid for Dutch telecoms company Koninklijke KPN (KPN), which turned to Allen & Overy (A&O)’s Netherlands office on the deal.
The bid by Mexican billionaire Carlos Slim’s telecoms company América Móvil for the remaining 70% in KPN saw longstanding adviser A&O field a team led by Dutch corporate partner Jan Louis Burggraaf.
Clifford Chance, led by Amsterdam M&A partner Hans Beerlage, advised América Móvil alongside Cleary Gottlieb Steen & Hamilton, led by New York capital markets partner Nicolas Grabar and corporate partners Neil Whoriskey and Amy Shapiro.
Continue reading “European M&A: Big ticket summer mandates scooped by Allen & Overy; Clifford Chance; Freshfields and Macfarlanes”
Jacoby & Meyers is to establish a new joint venture in the UK as the major US consumer law firm says the UK’s external funding and ownership regulation has ‘stolen a competitive march from the other key legal jurisdictions, including the U.S’ that will see Jacoby now focus much of its growth in London.
The joint venture with City-based private equity and corporate law firm MJ Hudson – founded by heavyweight ex-Proskauer Rose London head and former SJ Berwin partner Matthew Hudson – is called Jacoby & Meyers Europe and the group is likely to seek Alternative Business Structure (ABS) status in the UK, allowing it to attract non-lawyer equity ownership and funding. Continue reading “UK legal services regulation ‘steals a competitive march’ as Jacoby & Meyers launches European venture”
DLA Piper and Simmons & Simmons are among the latest UK firms to announce a reduced number of partnership promotions, appointing 34 and seven lawyers respectively, down from 58 and 10 in 2012.
DLA’s appointments came largely across its US offices, where 19 lawyers were made up to the partnership, with a further seven in continental Europe, four in the UK and four in Australia.
Continue reading “DLA and Simmons promote fewer partners as firms continue to favour Europe”
Deutsche Bank today (17 April) announced the appointment of Clifford Chance partner Daniela Weber-Rey as chief governance officer and deputy global head compliance in its Frankfurt office.
Weber-Rey, who is a long-serving corporate partner at Clifford Chance, will join Europe’s biggest bank by assets in June, overseeing corporate governance globally and acting as adviser to the management board on the governance structures and processes of the bank.
Continue reading “Clifford Chance partner takes up governance role at Deutsche Bank”
In this month’s Global London special we track the fortunes of the leading international advisers in the City. But are foreign players making progress?
Continue reading “The Last Word”
At press time, partners at SNR Denton, Salans and Canadian firm Fraser Milner Casgrain (FMC) were poised to vote through a $1bn, three-way merger using a Swiss Verein model.
A source within SNR Denton said that the union was basically a ‘done deal’ with partners from all firms having met on 13 November to review the business plan behind the proposed merger. SNR Denton and Salans have been in talks for a while and have refused to comment on merger speculation. The addition of FMC to the union emerged in November. Continue reading “Landmark three-way merger aims to end Dentons’ Europe woes”
Europe has been ravaged by the debt crisis and Germany has been far from immune, but the resilience of one segment of the economy is a boon to domestic law firms. Meet the Mittelstand
Germany’s hidden champions are keeping its law firms in the pink. While European law firms continue to feel the effects of the prolonged hangover caused by the eurozone crisis and general economic malaise, a number of German domestic law firms are seeing work pour in from German family-owned, small-to-medium sized businesses, the so-called Mittelstand.
Continue reading “Germany: Unsung heroes”
The overall success of M&A in 2012 hinges on the eurozone but there is much to be positive about, you just have to be prepared for a scrap
Confidence is a funny thing. During the first eight working days of this year, there was a sense that 2012 was going to be different. Deals had to be done, investors had to get their hands out of their pockets. Renewed optimism or even hope seemed to be a welcome antidote to the relentless doom and gloom that dominated the media for much of 2011. But then on Friday the 13th of January, talks collapsed over the restructuring of the Greek government’s debt and the ratings agency Standard & Poor’s downgraded the debt of nine eurozone countries, including France. The new-year optimism vanished overnight.
Continue reading “Corporate review – Welcome back to the new normal”