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International Edition

Cadwalader London chief heads back to US

Cadwalader Wickersham & Taft's London head Bob Link is to step down from his post, with capital markets partner Angus Duncan set to take the helm. Former firmwide chair Link is expected to return to the US full time over the next few months, although it is unclear what his exact role with the firm will be.
2 minute read

International Edition

Placing of new Tullow Oil shares hands roles to Ashurst and Dickson Minto

Ashurst and Dickson Minto have advised on the share placing by FTSE 100 oil company Tullow Oil, which is expected to raise around £1bn. The company will issue 80.4 million new shares, representing roughly 10% of the group's existing shares.
2 minute read

Legal Week

Deal lawyers set to AIM slightly less low in 2010

Ask a corporate partner specialising in work on London's Alternative Investment Market (AIM) to describe 2009 and "horrendous" and "not a good year" are some of the milder descriptions you're likely to hear. Looking at the statistics it is easy to see why, as the market saw a dismal tally of just 36 admissions, with the number of initial public offerings (IPOs) barely scraping double digits at just 13.
11 minute read

International Edition

Deal lawyers set to AIM slightly less low in 2010

Ask a corporate partner specialising in work on London's Alternative Investment Market (AIM) to describe 2009 and "horrendous" and "not a good year" are some of the milder descriptions you're likely to hear. Looking at the statistics it is easy to see why, as the market saw a dismal tally of just 36 admissions, with the number of initial public offerings (IPOs) barely scraping double digits at just 13.
4 minute read

International Edition

CC and Latham check in for roles on Singapore airline IPO

Clifford Chance (CC) and Latham & Watkins have taken lead roles as Tiger Airways becomes the first Asian airline to complete an initial public offering (IPO) for five years. The IPO, reportedly the first listing of a low-cost air carrier on the Singapore Exchange, raised a total of S$248m (£109m), with the deal widely viewed as a boost for market confidence.
2 minute read

International Edition

Skadden, Links and Lovells win roles as Travelport lines up £1.8bn float

Skadden Arps Slate Meagher & Flom has taken the lead role on one of the largest initial public offerings (IPO) for almost two years. A team from Skadden advised online travel booking company Travelport on its hotly anticipated flotation, which values the company at around £1.8bn.
2 minute read

International Edition

Deal lawyers' mood brightens as 2009 marks bottom of market

Exactly 12 months ago this column suggested that the M&A deal drought of 2009 would be reminiscent of the post-dot com gloom in 2003, and it was true. This year, however, is harder to call. The latest figures from Legal Week's exclusive data provider Mergermarket confirm what all M&A lawyers knew: 2009 was a bleak year for transactional lawyers, with global deal values just shy of $1,800bn (£1,103bn) compared to $2,427bn (£1,488bn) in 2008. The good news is that most signs suggest that the bottom has already been passed, with the final quarter of 2009 managing a modest if fairly broad revival. That revival looks set to trudge into 2010, even if there is little evidence of a dramatic rebound.
4 minute read

International Edition

Clifford Chance set for lead role as DP World plans London listing

Clifford Chance (CC) is in line for a leading role as DP World prepares to list on the London Stock Exchange. The magic circle firm is understood to be advising the Dubai-owned ports operator, which announced yesterday (6 January) that it will pursue an initial public offering (IPO) in London after seeing a drop-off in share prices. DP World is a longstanding client of CC, with the firm also taking a lead role on the company's $5bn (£3.1bn) listing on the Dubai International Financial Exchange (DIFX) in 2007.
2 minute read

International Edition

Freshfields and Slaughters head up $3.1bn Hong Kong listing

Freshfields Bruckhaus Deringer and Slaughter and May have won lead roles on China Pacific Insurance's $3.1bn (£1.9bn) Hong Kong initial public offering. The listing, one of the largest global IPOs of 2009, saw Freshfields take a role for the China-based insurance company. The magic circle firm's team was led by global co-head of capital markets Kay Ian Ng and capital markets partner Calvin Lai, both of whom are based in Hong Kong.
2 minute read

International Edition

Ashurst and Cleary win lead roles on Rusal's $3bn Hong Kong listing

Cleary Gottlieb Steen & Hamilton and Ashurst have won roles on Rusal's planned $3bn (£2bn) flotation on the Hong Kong stock exchange. Cleary has landed the main role on the listing, fielding a team led by City-based partner Dan Braverman advising on US, English and French law. Ashurst corporate partner Andrew Edge is providing additional English law, while US firm Sidley Austin is advising on Hong Kong law, with a team led by Hong Kong-based capital markets partner Constance Choy.
2 minute read

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