Orrick sets sights on Africa for 2014
Orrick Herrington & Sutcliffe is planning to open in Africa next year in a bid to tap Chinese outbound investment into the country and bolster its existing African practice, run out of Paris. The US firm, which currently has 15 international offices located across Europe and Asia but no presence in Africa, hopes to open in first half of 2014, though it is yet to decide on a location for the new base.
December 19, 2013 at 10:31 PM
3 minute read
Orrick Herrington & Sutcliffe is planning to open in Africa next year in a bid to tap Chinese outbound investment into the country and bolster its existing African practice, run out of Paris.
The US firm, which currently has 15 international offices located across Europe and Asia but no presence in Africa, hopes to open in the continent in the first half of 2014, but is yet to decide on a location.
Markets under consideration include West African countries such as the Ivory Coast, Senegal, Ghana and Togo, whilst the firm also has opportunities in Kenya, Tanzania and South Sudan.
South Africa is currently not a target, mainly because of competition in the country and a higher number of clients in North and Central Africa.
"Where we decide to open remains subject to a set of criteria, including regulatory issues and client needs," said Pascal Agboyibor, the head of Orrick's African practice.
"We have strong practices in all of these countries, except Kenya which is a growing practice.
"We will also consider the regional position of the country; ideally we would favour a place that hosts regional headquarters of multilaterals and global companies.
"There are some restrictions, with citizenship required in certain countries and also accounting and tax issues, though North Africa seems to be more liberal."
He said the firm had not decided how many people to send to Africa, which depended on which country was chosen.
As the head of the practice, Agboyibor said he would most likely relocate to Africa at some point, but not immediately.
"Some people might be able to relocate, some might not, some countries might be more appropriate to send French or UK people.
"You also have a large network of former Orrick trainees or lawyers who are on the ground in independent firms who would be more than happy to join the network.
"Initially I won't move – but it would make sense for me to move at some point next year."
Orrick currently has a 19-partner African practice spread across Paris, the US, London and Beijing.
It specialises in advising energy, infrastructure and natural resources companies in Western and Central Africa on large scale transactions, particularly on project development and financing, and M&A.
It is among a string of firms looking to invest in the market amid an increase in dealflow, and particularly investment from China.
Other firms who have announced plans to ramp up or review their African strategies this year include Linklaters, Eversheds, Hogan Lovells, BLP and Freshfields.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllCan Law Firms Avoid Landing on the 'Enemy' List During the Trump Administration?
5 minute readLetter From Asia: Will Big Law Ever Bother to Understand Asia Again?
Simpson Thacher, Nishimura, Mori Hamada Assist on KKR's $4B Winning Bid in Japan
Trending Stories
- 1Kirkland's Daniel Lavon-Krein: Staying Ahead of Private Equity Consolidation
- 2Many Southeast Law Firms Planned New, Smaller Offices in 2024
- 3On the Move and After Hours: Goldberg Segalla, Faegre Drinker, Pashman Stein
- 4Recent FTC Cases Against Auto Dealers Suggest Regulators Are Keeping Foot on Accelerator
- 5‘Not A Kindergarten Teacher’: Judge Blasts Keller Postman, Jenner & Block, in Mass Arb Dispute
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250