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International Edition

White & Case seals hire of A&O Milan team

Allen & Overy's (A&O's) Italy office has seen a seven-strong team of lawyers depart for White & Case, including partner Paola Leocani. Leocani joins the US firm's Milan office alongside a counsel, three associates and two trainees. Leocani joined A&O's international capital markets practice in 1998 and was made up as a partner in 2006. She has worked on mandates including the Italian Government's €18bn (£15.4bn) bond sale in 2012, the third issue of a four-year inflation-linked bond.
2 minute read

International Edition

Dentons boost Hong Kong cap markets team with O'Melveny hire

Dentons has boosted its Hong Kong capital markets practice with the hire of corporate partner Gordon Ng from O'Melveny & Myers. Ng, who is best known for his work on Hong Kong IPOs, will join the firm as head of corporate finance and capital markets for Asia, effective July 1.
3 minute read

International Edition

Freshfields, Simpson Thacher line up for multibillion-dollar Alibaba IPO

Freshfields Bruckhaus Deringer and Simpson Thacher & Bartlett are understood to have taken much-coveted roles on the Hong Kong initial public offering (IPO) of Alibaba, China's largest e-commerce company. The potential listing, which has attracted much market interest, is set to be the biggest IPO since Facebook's high-profile listing last year.
2 minute read

International Edition

A&O leads on Co-op Bank's £1.5bn restructuring plan and listing

Allen & Overy (A&O) has taken the headline advisory role on the Co-operative Group's £1.5bn debt restructuring rescue deal for its banking arm, ahead of a listing on the London Stock Exchange. The group today (17 June) announced a plan for its bondholders to help recapitalise The Co-op Bank, putting forward a deal which will see the group's junior securities holders offered shares in the bank.
2 minute read

International Edition

International firms in Hong Kong put high-yield dim sum bonds on the menu

International law firms in Hong Kong are picking up growing numbers of advisory mandates on high-yield dim sum bonds, following a surge in investor appetite for the product over the last quarter. Firms such as Linklaters, Davis Polk & Wardwell, Morrison & Foerster (MoFo) and Skadden Arps Slate Meagher & Flom are among the international players turning their attention to the market as a string of sub-investment grade Chinese companies consider new fundraising options. To date issuances of renminbi (RMB) denominated 'junk' bonds have been almost unheard of in the region, with the RMB bond market dominated by investment-grade issuers since the first dim sum bonds were issued by Chinese banks in Hong Kong in 2007.
4 minute read

International Edition

Links take banks role as Freshfields, Slaughters lead on Royal Mail IPO

Linklaters, Freshfields Bruckhaus Deringer and Slaughter and May are playing key roles on the Government's plans to privatise Royal Mail. The sale has been heralded as Britain's most ambitious privatisation since former Prime Minister John Major broke up and sold the railways in the 1990s.
3 minute read

International Edition

Linklaters shakes up international board with four new appointments

Linklaters has appointed four new members to its international board, including capital markets Paul Lewis, in a reshuffle of the firm's senior governance body. Lewis replaces financial regulation chief Michael Kent as the joint representative for the London finance and projects group.
2 minute read

International Edition

Sullivan and Simpson Thacher advise on £3.1bn Japan listing of Suntory unit

Simpson Thacher & Bartlett and Sullivan & Cromwell have scored lead roles on the $4.7bn (£3.1bn) initial public offering (IPO) of Suntory Holdings's non-alcoholic drinks arm, Suntory Beverage & Food (SB&F). The Japanese drinks giant received approval for the listing the subsidiary business last week, which it plans to list on the Tokyo Stock Exchange in July with 125.2m shares up for sale at Y3,800 (£24.72) each.
2 minute read

International Edition

Simpson Thacher and Kirkland advise on Hong Kong IPO of Chinese luxury car dealer

Simpson Thacher & Bartlett and Kirkland & Ellis have advised on the Hong Kong listing of China Harmony Auto Holding. The two US firms closed the deal this week, with the luxury car dealer reportedly selling 275 million shares at HK$6.08 to HK$8.88 each in the hopes of raising HK$2.4bn (£203m).
2 minute read

International Edition

CC and Hogan Lovells advise as Empire State IPO gets go-ahead

Clifford Chance (CC) and Hogan Lovells are advising on the high-profile initial public offering (IPO) of New York's iconic Empire State Building, which has this week received shareholder approval to proceed. The IPO, which is expected to raise at least $1bn (£660m), has received backing from more than 80% of investors in Malkin Holdings, the owner of the Manhattan skyscraper.
2 minute read

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