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International Edition

Jones Day eyes Rio de Janeiro for second Brazil base

Jones Day is exploring the possibility of a launch in Rio de Janeiro, as the firm looks to expand its presence in Brazil beyond Sao Paulo. According to lawyers at the firm, Brazil's second largest city has become the latest focus of the firm's global strategy, which has grown Jones Day's network of offices to 37.
2 minute read

International Edition

Home advantage – the biggest challenges facing Canada's law firms

Canada's legal services market continues to grow, albeit at a slower pace than in previous years. Lawyers at the country's largest independent firms believe there are three principal factors driving the market: pressure on fees, increased competition and the state of the global economy, especially in regard to commodities prices. Steven Smith, partner in the corporate group and head of the UK and Europe sector at Osler Hoskin & Harcourt, says: "The biggest challenge that law firms are facing in Canada is the pressure on fees from clients who simply want more for their money. Reduction in fee income and pressure on prices is making the market more competitive." Marc-Andre Blanchard, chairman and chief executive of McCarthy Tetrault, comments: "Like other firms, we believe that the legal services market here is very competitive and that the pressure on fees is growing. But we believe that our emphasis on service delivery is helping us retain clients and win new business."
8 minute read

International Edition

Lands of Eastern promise – how an M&A upswing is reviving CEE markets

Despite the fact that the effects of the global financial crisis took longer to filter through to the Central and Eastern European (CEE) economic region than Western economies, the area was nevertheless badly affected. Some countries, including Poland, the Czech Republic and Slovakia, have proved more resilient and have weathered the crisis better than their neighbours such as Romania and Ukraine. However, it is fair to say that while the region as a whole has been fairly depressed, there are now some nascent signs of recovery. Deal flow has been low and according to local lawyers, a key challenge is that very few small and medium-sized companies are currently willing to list on the stock exchange. However, the recession brought with it a substantial amount of counter-cyclical work, with restructurings and insolvencies providing most of the bread-and-butter work for mid-level local firms.
8 minute read

International Edition

Flood warning – why Romanian law firms are pinning their hopes on a surge in foreign investment

As politicians prey on fears of 'a flood' of Romanian migrants into Britain when border controls are lifted next month, Romanian lawyers are, in turn, praying for a flood of foreign investment into their country. "Romania is not a country which can stand on its own," says Gheorghe Musat, managing partner at Musat & Associates. "It badly needs foreign investment." Ion Nestor, managing partner at Nestor Nestor Diculescu Kingston Petersen, confirms: "The economy is stable, but, unfortunately, we are stable in poverty."
4 minute read

International Edition

Flying the flag for a continent – charting the revival of the South African legal market

Neil Hodge reports on the revival of the South African legal market and the positive impact it is having on the rest of Africa...
8 minute read

International Edition

Law firm quartet help energise Npower's subsidiary sell-off

Nabarro and Bond Dickinson are among the quartet of firms winning roles on the sale of Npower's energy subsidiaries to rival Telecom Plus. Telecom Plus, which trades as Utility Warehouse, is set to buy two energy companies, Electricity Plus Supply and Gas Plus Supply from Npower, which is owned by RWE, in a transaction valued at £218m.
2 minute read

International Edition

CC and Links lead $1.3bn Tanzanian oil and gas sale

Linklaters and Clifford Chance (CC) have acted on Ophir Energy's sale of its stake in a Tanzanian oil and gas development to Singapore investment company Temasek. Temasek has acquired the 20% stake in the offshore liquefied natural gas (LNG) development from Ophir for $1.3bn (£810m), although the Lakshmi Mittal-controlled company will remain an investor in the joint venture.
2 minute read

International Edition

CC wins place on BG Group panel as Herbert Smith and A&O dropped

Clifford Chance (CC) has won a spot on BG Group's UK legal panel, ousting Herbert Smith Freehills (HSF), after the energy giant concluded a review of its external advisers.
3 minute read

International Edition

Eversheds and Baker Botts lead as Siemens spins off turbine unit

Eversheds and Baker Botts have landed key roles on Siemens' joint venture with energy services company Wood Group, which will create a $1bn (£624m) oil and gas rotating equipment business. Aberdeen-based Wood Group is spinning off the majority of its maintenance and power solutions operation into a joint venture with the German company.
2 minute read

International Edition

Environment partner rejoins Hogan Lovells after seven years at HSF

Hogan Lovells has re-hired Herbert Smith Freehills environmental, health and safety partner Louise Moore to its London office. Moore, who will transfer to Hogan Lovells in early 2014, re-joins the firm after seven years at Herbert Smith, which she joined in 2007 as a partner.
2 minute read

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