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International Edition

CC and Latham advise on Singapore's second biggest IPO this year

Clifford Chance (CC) and Latham & Watkins have acted alongside Allen & Gledhill (A&G) and Wong Partnership on the Singapore listing of Asian Pay Television Trust (APTT), the Asian city-state's second biggest IPO this year. The investment vehicle, which will own Taiwan's third-largest cable TV operator, Taiwan Broadband Communications (TBC) Group, has priced its IPO at S$0.97 (£0.51) per unit, in the hopes of raising S$1.4bn (£734m) from the listing.
3 minute read

International Edition

Cautious optimism reigns across industry as partners hope for economic bounceback

As the number of firms announcing redundancy consultations this week continued to rise – with news of widespread cuts at Berwin Leighton Paisner – new research from Legal Week has found a surprising degree of business confidence among partners in UK law firms. Results of the latest Big Question survey how that more than 90% of partners expect to see revenues climb at their own firm over the next 12 months, with more than 80% expecting the same to be true across the UK's 50 largest law firms by revenue as a whole. The research found more than half of respondents (53%) expect to see revenue at their own firm climb by more than 5% over the coming year, with a further 41% predicting more modest increases of between 0% and 5%. Meanwhile, only 6% of partners expect to see their firm's revenues fall.
5 minute read

International Edition

The Transfer Window: recent moves including Latham, CC and A&O

Latham & Watkins has turned to Norton Rose for its latest London partner hire, recruiting banking partner Dean Naumowicz for its City finance team. Naumowicz, who joined Norton Rose as a partner in 2006 from Barclays Capital, focuses on derivatives and structured finance. Roles he has taken on recent deals have included acting for project company Societa di Progetto Brebemi on a €2.3bn (£1.9bn) toll motorway project in Italy, on which he worked with a team of lawyers from the firm's Milan office.
8 minute read

International Edition

Transfer Window Asia: recent moves including Hogan Lovells and K&L Gates

Hong Kong law firm Deacons has added to its corporate team with the hire of private equity partner Robert Woll from Wilmer Cutler Pickering Hale and Dorr (WilmerHale). Woll, who headed the US firm's Beijing office for six years, is a specialist in M&A and private equity transactions, and deals involving venture capital and real estate investment funds.
6 minute read

International Edition

CC and A&O among international quartet on key Hong Kong IPO double

Clifford Chance (CC) and Allen & Overy (A&O) have landed lead roles on two key Hong Kong initial public offerings (IPOs), working opposite US outfits Davis Polk & Wardwell and Kirkland & Ellis respectively. The planned listings of state-owned brokerage China Galaxy Securities Co and Sinopec Engineering (Group) Co, a wholly owned subsidiary of Asia's biggest oil refiner, Beijing-based Sinopec Group, are said to be the biggest IPOs in Hong Kong so far this year.
3 minute read

International Edition

DLA and MoFo act on Sinopharm's Hong Kong share sale

DLA Piper and Morrison & Foerster have scored lead roles on the HK$4bn (£335m) sale of new shares by China's biggest drug distributor Sinopharm. The deal marks the second H share placement for Sinopharm since its $1.1bn (£714m) IPO in 2009, with 165.7 million shares being sold to between six and 10 non-retail investors at HK$24.60 (£2.06) each.
2 minute read

International Edition

Norton Rose, Ashurst and CMS power up with roles on wind farm fund IPO

Norton Rose, Ashurst and CMS Cameron McKenna have landed lead roles on the £260m London listing of a wind farm investment fund. Greencoat UK Wind, which is believed to be the first listed fund aimed at the UK renewable energy sector, raised the maximum amount through the main market initial public offering (IPO), having initially planned to raise a minimum of £205m.
2 minute read

International Edition

CC and Linklaters advise China Minmetals on Hong Kong bond issue

UK magic circle firms Clifford Chance and Linklaters have advised on the CNY2.5bn (£262m) bond issuance of China Minmetals Corporation. The state-owned enterprise completed its sale of the three-year dim sum bonds at 3.65% at the end of last month, making it the fourth company to issue RMB bonds in Hong Kong since the rules regarding off-shore yuan bond issuance were changed last year.
2 minute read

International Edition

Skadden and Freshfields advise as Evonik lines up multibillion-euro IPO

Skadden Arps Slate Meagher & Flom and Freshfields Bruckhaus Deringer have taken lead roles on the global private placement of shares in German chemicals company Evonik ahead of its multibillion-euro initial public offering (IPO) on the Frankfurt Stock Exchange. Evonik – a cosmetics and food manufacturer – has seen around 12% of its shares placed with institutional investors since 22 February, in what is thought to be Germany's largest-ever pre-IPO capital markets financing. The move comes ahead of Evonik's planned float, which is reportedly set to value the company at around €14bn (£12bn).
2 minute read

International Edition

Aiming high – Slater & Gordon's plans to conquer the UK consumer legal market

Andrew Grech, the managing director of publicly listed Australian firm Slater & Gordon (S&G), has pledged to take full advantage of the UK's legal market reforms to make S&G's recently acquired UK arm the leading consumer law brand. S&G signalled its intention to break into the UK legal market in January 2012, when it announced its acquisition of UK personal injury specialists Russell Jones & Walker (RJW) for £53.8m.
6 minute read

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