Pui Guan Man

February 08, 2013 | International Edition

Clifford Chance (CC) has elected head of US finance and restructuring Evan Cohen as its new US managing partner.

By Pui-Guan Man

2 minute read

February 08, 2013 | International Edition

Spanish independent Cuatrecasas Goncalves Pereira has posted a 1.2% rise in revenues for the 2012 financial year, while local rival Gomez-Acebo & Pombo has seen fee income drop by a similar percentage.

By Pui-Guan Man

2 minute read

February 08, 2013 | International Edition

Olswang, SJ Berwin and Jones Day are among the firms landing key roles in the high-profile acquisition of record label Parlophone by Warner Music. The all-cash transaction, valued at £487m, was signed yesterday (7 January). Parlophone, home to the likes of Blur, Pink Floyd and Coldplay, was formerly a part of UK music company EMI. SJ Berwin was instructed by Universal, a unit of French media giant Vivendi, on the Parlophone deal with a team comprising corporate partners Will Holder and Mark Sanders, senior partner Stephen Kon and competition partner Philipp Girardet. Paris corporate partner Etienne Bouriscan led the team advising on France law matters, while Frankfurt corporate partner Michael Cziesla headed up the team providing German law counsel. Universal general counsel Richard Constant said: "This was an extremely complex transaction carried out under close regulatory supervision and Will Holder, Mark Sanders, Stephen Kon and Philipp Girardet at SJ Berwin and their teams were instrumental in delivering an extremely good result for us in a very constrained time frame. Their ability to deliver for their client is, in my view, incomparable." Shearman & Sterling advised Vivendi with a team comprising London M&A partner Jeremy Kutner, New York M&A partner Clare O'Brien, capital markets partner Robert Evans and finance partner Steven Sherman. Olswang acted for Warner Music, backed by parent company Access Industries, with a team led by London corporate partner Stephen Hermer. Jones Day Brussels advised on competition aspects with a team including Europe head of antitrust Bernard Amory. The £1.2bn acquisition of EMI by Universal Music was given the greenlight by the European Commission last September. Clifford Chance (CC) and SJ Berwin partners Kon and Girardet led on the deal. The competition watchdog approved the takeover bid on the condition that Universal sells around 60% of EMI's European assets, one of which was Parlophone. Universal is set to retain more than two thirds of EMI on a global basis, keeping artists such as the Beatles, Beach Boys and Katy Perry. CC advised EMI and owner Citigroup on the deal in a team comprising global corporate head Matthew Layton City, corporate partners Daniel Kossoff and Rob Crothers, and Brussels head and antitrust partner Tony Reeves. In November 2011 SJ Berwin and Clifford Chance were among a raft of firms winning roles on EMI's recording division and publishing business acquisitions, after it emerged that the company, which houses artists including The Beatles, was to be split in two. CC advised EMI and Citigroup on the sale of both its music division and its publishing business along with US firm Shearman & Sterling and Freshfields Bruckhaus Deringer, while Universal and parent company Vivendi instructed SJ Berwin on the sale of its recording arm in a team led by firm managing partner Rob Day and city corporate partner William Holder. Now-defunct US firm Dewey & Leboeuf took the lead in advising a Sony-led consortium on its publishing takeover, acting alongside Cleary Gottlieb Steen & Hamilton, Weil Gotshal & Manges, Allen & Overy, and Baker & McKenzie.

By Pui-Guan Man

3 minute read

February 07, 2013 | International Edition

Norton Rose is in the early stages of looking at how to fund expansion into new regions, as it gears up for this June's merger with US outfit Fulbright & Jaworski. The firm, which already operates a shared account across Norton Rose Group to cover central costs such as IT, finance, branding and research and development, is looking at how the cost of new launches can best be shared between different parts of the business.

By Pui-Guan Man

2 minute read

February 07, 2013 | International Edition

The Government has unveiled a new 'opt out' collective redress system, described as "a quantum leap towards US-style class actions", as part of a series of wide-ranging competition law reforms following a consultation last year. The measures, unveiled by business secretary Vince Cable last month, have received broad approval from senior lawyers, after initial proposals were put forward for consultation by the Department for Business Innovation and Skills (BIS) in April last year.

By Pui-Guan Man

4 minute read

February 07, 2013 | International Edition

Freshfields Bruckhaus Deringer and Lawrence Graham (LG) have taken lead roles on the £265m sale of landmark City office site Woolgate Exchange (pictured) to a Canadian pension fund. The 351,000 sq ft property, whose tenants include US law firm Sidley Austin, has been sold to a joint venture between Ivanhoe Cambridge - the real estate arm of Canadian fund manager Caisse de depot et placement du Quebec - and US private equity house TPG.

By Pui-Guan Man

2 minute read

February 07, 2013 | International Edition

Ashurst and Taylor Wessing are advising on a high-profile legal battle which sees PricewaterhouseCoopers (PwC) face a billion-pound negligence claim from Cattles. Troubled Yorkshire financial services group Cattles has accused its former auditor of negligent audits in 2006 and 2007, resulting in liabilities of £1.6bn.

By Pui-Guan Man

3 minute read

February 06, 2013 | International Edition

Travers Smith has appointed corporate head Chris Hale as its new senior partner, as long-serving firm leader Chris Carroll prepares to step down. Hale, who has headed up the corporate group since 2003, joined the firm in 1983 and made partner in 1987. He will take up the senior partner post on 1 July this year.

By Pui-Guan Man

3 minute read

February 06, 2013 | International Edition

Shearman & Sterling, Fried Frank Harris Shriver & Jacobson and Allen & Overy (A&O) are among a raft of top firms to have advised on the $23.3bn (£14.9bn) purchase of Virgin Media by US cable giant Liberty Global. The cash and stock merger, which is subject to regulatory and stockholder approval, would create the world's largest broadband communications company, covering 25 million customers in 14 countries.

By Pui-Guan Man

4 minute read

February 05, 2013 | International Edition

Debevoise & Plimpton, Hogan Lovells and Weil Gotshal & Manges are among a line-up of top law firms to have advised on the $24.4bn (£15.5bn) buyout of computer manufacturer Dell, in the largest leveraged buyout (LBO) since the financial crisis. Founder Michael Dell is buying back the PC group, together with private equity group Silver Lake, offering stockholders $13.65 (£8.69) in cash per share.

By Pui-Guan Man

3 minute read