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International Edition

Skadden and Sullivan win key roles on €1bn IPO of real estate group LEG

Skadden Arps Slate Meagher & Flom and Sullivan & Cromwell have landed roles on German real estate group LEG's initial public offering (IPO), expected to raise up to €1bn (£838m). The listing on the Frankfurt Stock Exchange is due to take place in early February, and is expected to value the Duesseldorf-based housing company at more than €2bn (£1.7bn), according to market analysts.
2 minute read

International Edition

Links, A&O lead bank-side DCM rankings as year-on-year proceeds grow 11%

Linklaters and Allen & Overy (A&O) have dominated Thomson Reuters' global legal rankings for bank roles on debt capital markets transactions in 2012, as the value of debt deals grew by 11.3% over the period. The data, cut off at 21 January, shows Linklaters toppling A&O from the global top spot after advising managers on 524 straight debt deals globally in the 2012 calendar year, generating proceeds of $394bn (£248bn).
3 minute read

International Edition

Paul Hastings hires Weil London capital markets head

Paul Hastings' London office has hired Weil Gotshal & Manges local capital markets and hedge fund head James Cole for its securities and capital markets practice. Cole, who will formally join the firm on 1 March, advises clients including investment banks, hedge funds and financial institutions on all aspects of capital markets transactions and distressed investment opportunities.
2 minute read

International Edition

Skadden, CC among legal line-up on BlackRock's Credit Suisse purchase

Skadden Arps Slate Meagher & Flom and Clifford Chance (CC) are among a line-up of firms advising on asset manager BlackRock's acquisition of Credit Suisse's exchange traded funds (ETF) business. The terms of the deal are undisclosed, but the transaction is reportedly worth between $200m (£124m) and $300m (£186m). The ETF business has around CHF16bn (£10.8bn) of client assets under management.
2 minute read

International Edition

BLP, LG act as Schroders lists property trust on Alternative Investment Market

Berwin Leighton Paisner (BLP) and LG have taken roles on one of the first Alternative Investment Market listings of the year, as UK fund manager Schroders seeks to raise more than £100m via a float of its West End property trust. The initial public offering (IPO) will see the West End of London Property Investment Company (WELPIC) – a newly formed Guernsey-incorporated trust – seek to raise funds to invest in the existing West End of London Property Unit Trust (WELPUT), which is managed by Schroders and Grafton Advisors.
2 minute read

International Edition

Hope floats again for crucial IPO market as advisers dare to bet on HK revival

It's only the second week of January and already everyone is placing bets on the health of Hong Kong's initial public offering (IPO) market, still used by many local advisers as the bellwether of confidence in the region's economy. While the accountants are gearing up for a strong recovery, forecasting around 80 new listings valued at approximately HK$120bn (£9.5bn) during 2013, most lawyers are taking a characteristically cautious approach while hoping for the best.
6 minute read

International Edition

Cadwalader adds capital markets partner in China with K&L Gates hire

Cadwalader Wickersham & Taft has boosted its China capital markets team with the hire of K&L Gates corporate partner Rose Zhu. Zhu, who specialises in capital markets, M&A and bank financing transactions, has joined the US firm's Beijing branch from K&L Gates' local office, where she has spent around 18 months after moving from Allen & Overy in August 2010.
2 minute read

International Edition

Paul Hastings eyes Sao Paulo and Singapore launches

Paul Hastings is weighing up launches in both Brazil and Singapore as the US firm looks to grow its international presence. The US firm expects to open a base in Sao Paulo next year, and is also looking at opportunities in Singapore to build on its existing five-office Asia practice.
3 minute read

International Edition

Simmons appoints new Asia DCM head with Standard Chartered hire

Simmons & Simmons has recruited a senior in-house lawyer from Standard Chartered Bank in Asia to head up the firm's debt capital markets (DCM) practice in the region. Jay Lee, who joins the UK law firm as a partner, was head of the DCM legal team in North East Asia at Standard Chartered, where he was based in Hong Kong, handling capital markets legal matters in China, Hong Kong, Korea, Taiwan and Japan.
3 minute read

International Edition

HK regulatory chief cautions Asia over threat of Western-style crisis

Asia must join the EU and US in their post-crunch regulatory efforts if the region is to avert its own financial crisis, according to the head of Hong Kong's top market watchdog. Speaking at the third Pan-Asian Regulatory Summit in Hong Kong last week, Ashley Alder, the chief executive of the Securities and Futures Commission (SFC) and former Herbert Smith Asia head, said regional institutions would be "unbelievably stupid" to ignore the lessons learned by Western economies, and had a "golden opportunity" to ensure Asia did not experience its own financial collapse.
4 minute read

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