Slaughters closes thirteen deals in a week worth £4bn
Slaughter and May has closed a lucky 13 deals in the space of a week, including five out of its Hong Kong arm, worth more than £4bn in total.
June 13, 2007 at 10:36 PM
4 minute read
The original version of this story was published on Law.com
In the past week, Slaughters' Hong Kong office has advised on a batch of deals worth a combined $1.4bn (£712m), including CITIC Group's $1bn (£508m) sale of a stake in an oil company and the $300m (£152m) bond issue for YTL Corp Finance.
The first deal sees corporate partner Benita Yu advise CITIC as it sells its indirect interest in 50% of the voting rights in JSC Karazhanbasmunai (KBM) to its Hong Kong-based subsidiary CITIC Resources Holdings. KBM holds the rights to develop and produce oil from the Karazhanbas oilfield in Kazakhstan until 2020.
Corporate partner Neil Hyman led on the second deal, which sees YTL Corp Finance issue $300m of bonds on the Singapore Stock Exchange and the Labuan International Financial Exchange. Slaughters also advised YTL Corporation Berhad, a holding company for a group of infrastructure businesses, which guaranteed the bonds.
Meanwhile, Slaughters' London headquarters closed eight deals, including advising Alpha Airports Group on its £193.6m offer from Autogrill, the Department of Trade & Industry on the £2.34bn sale of its interest in British Energy Group and Standard Chartered on its $750m (£381m) preference share issue.
Slaughters has also been retained by Derwent London as a client following the 2006 £1bn merger between Derwent Valley and London Merchant Securities, which handed roles to Slaughters and Clifford Chance respectively. Slaughters advised the merged entity on its conversion to a real estate investment trust.
Corporate partner Nilufer von Bismarck, who advised on both the Derwent London and Standard Chartered transactions, told Legal Week: "There is a lot of activity in the market at the moment; it just happens a lot of things have come together. Our Hong Kong office is particularly busy and the last few weeks has been incredibly stretched."
In the past week, Slaughters' Hong Kong office has advised on a batch of deals worth a combined $1.4bn (£712m), including CITIC Group's $1bn (£508m) sale of a stake in an oil company and the $300m (£152m) bond issue for YTL Corp Finance.
The first deal sees corporate partner Benita Yu advise CITIC as it sells its indirect interest in 50% of the voting rights in JSC Karazhanbasmunai (KBM) to its Hong Kong-based subsidiary CITIC Resources Holdings. KBM holds the rights to develop and produce oil from the Karazhanbas oilfield in Kazakhstan until 2020.
Corporate partner Neil Hyman led on the second deal, which sees YTL Corp Finance issue $300m of bonds on the Singapore Stock Exchange and the Labuan International Financial Exchange. Slaughters also advised YTL Corporation Berhad, a holding company for a group of infrastructure businesses, which guaranteed the bonds.
Meanwhile, Slaughters' London headquarters closed eight deals, including advising Alpha Airports Group on its £193.6m offer from Autogrill, the Department of Trade & Industry on the £2.34bn sale of its interest in British Energy Group and Standard Chartered on its $750m (£381m) preference share issue.
Slaughters has also been retained by Derwent London as a client following the 2006 £1bn merger between Derwent Valley and London Merchant Securities, which handed roles to Slaughters and
Corporate partner Nilufer von Bismarck, who advised on both the Derwent London and Standard Chartered transactions, told Legal Week: "There is a lot of activity in the market at the moment; it just happens a lot of things have come together. Our Hong Kong office is particularly busy and the last few weeks has been incredibly stretched."
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