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International Edition

Skadden leads the way on $6.3bn DuPont Denmark acquisition

Skadden Arps Slate Meagher & Flom has won a lead role on DuPont's $6.3bn (£4bn) acquisition of Danish enzyme and speciality food ingredients company Danisco, reports The Am Law Daily. The deal is DuPont's largest since its 1999 purchase of biotechnology company Pioneer Hi-Bred International for $7.7bn (£4.9bn). DuPont, one of the world's top chemical makers, will pay $5.8bn (£3.7bn) in cash for Danisco, while also assuming $500m (£320m) of net debt.
2 minute read

International Edition

A modest deal revival in 2010, but UK market provides little comfort

"It wasn't a bad year, you just don't look back at any really standout UK deals," comments one M&A partner at a magic circle firm. In fact while global M&A levels may still be a way off even 2008 standards, let alone the heady heights of the 2005-07 boom, the 2010 figures from Mergermarket show there is reason for legal advisers to be relatively optimistic about 2011 - even though a surge of Kraft/Cadbury-type UK deals looks unlikely. Deal volumes globally increased by 23% year on year between 2009 and 2010, with the value of M&A increasing by 24% to $2,113bn (£1,393bn) during 2010. There was greater growth within the crucial European M&A market, where volume increased by just over 25% and value by 40% to $644bn (£413bn), with European M&A as a percentage of global deals also increasing marginally over the year.
4 minute read

Legal Week

A modest deal revival in 2010, but UK market provides little comfort

"It wasn't a bad year, you just don't look back at any really standout UK deals," comments one M&A partner at a magic circle firm. In fact while global M&A levels may still be a way off even 2008 standards, let alone the heady heights of the 2005-07 boom, the 2010 figures from Mergermarket show there is reason for legal advisers to be relatively optimistic about 2011 - even though a surge of Kraft/Cadbury-type UK deals looks unlikely. Deal volumes globally increased by 23% year on year between 2009 and 2010, with the value of M&A increasing by 24% to $2,113bn (£1,393bn) during 2010. There was greater growth within the crucial European M&A market, where volume increased by just over 25% and value by 40% to $644bn (£413bn), with European M&A as a percentage of global deals also increasing marginally over the year.
8 minute read

International Edition

Linklaters, A&O and Portugal's Vieira de Almeida act on €3bn restructuring

Portuguese law firm Vieira de Almeida & Associados (VdA) has taken a lead role alongside Linklaters and Allen & Overy (A&O) on the €3bn (£2.5bn) restructuring of Portuguese highway construction and development company Brisa. VdA advised the road toll company on its restructuring, fielding a team led by finance partner Joao Vieira de Almeida, alongside banking partner Pedro Cassiano Santos and corporate partners Helena Vaz Pinto and Paulo de Barros Baptista.
2 minute read

International Edition

Norton Rose, CC lead on Malaysian fund's bid for Freshfields City base

Norton Rose and Clifford Chance (CC) have won lead roles on the proposed £150m sale of Freshfields Bruckhaus Deringer's Fleet Street headquarters to a Malaysian pension fund. Norton Rose real estate head Lindsay Morgan is advising Employees Provident Fund (EPF) on the acquisition of the magic circle firm's City office from its current owner, the German property fund Union Investment.
2 minute read

International Edition

Debevoise City arm leads on Russian merger creating $23.9bn company

Debevoise & Plimpton's London and Moscow offices have picked up a lead advisory mandate on the merger of Russian potash companies Uralkali and Silvinit, in a deal that will create a combined business worth $23.9bn (£15.4bn). Debevoise has advised Uralkali on the merger, which will see Uralkali acquire 20% of Silvinit for $1.4bn (£903,300m) and complete the tie-up through a share swap.
2 minute read

International Edition

CC and Weil lead on $1.1bn Siemens deal

Clifford Chance (CC) and Weil Gotshal & Manges have advised on Siemens' $1.1bn (£707m) sale of its information technology services unit to French rival Atos Origin, reports The Am Law Daily. Siemens instructed regular adviser CC for advice on the deal, with Munich partners Jan Wrede and Nicole Englisch and Paris partner Catherine Astor-Veyres leading the firm's team. Siemens' in-house team was led by Karin Flesch.
2 minute read

International Edition

Skadden and Simpson Thacher win roles as Apax nears $8.5bn LBO deal

Skadden Arps Slate Meagher & Flom and Simpson Thacher & Bartlett have won lead roles for Apax Partners as the buyout house closes in on a multibillion-pound deal that could become one of the largest European leveraged buyouts since the start of the credit crisis. Apax is in exclusive talks to buy Denmark-based facilities giant ISS after putting in an $8.5bn (£5.5bn) bid for the company.
2 minute read

International Edition

Dealmaker: Riccardo Sallustio

Bonelli's banking co-head delivers some world-class jargon and proudly recalls a day in the F1 hot-seat...
4 minute read

International Edition

Sullivan and Davis Polk advise on $1bn BG Group debt offering

Sullivan & Cromwell and Davis Polk & Wardwell have taken lead roles on BG Group's inaugural debt offering into the US, with a $1bn (£640m) notes offer. Sullivan advised BG Energy Capital on the deal, which marks the New York firm's first mandate for the company. The firm advised on both English and US law, fielding a team led by London co-managing partner Vanessa Blackmore and corporate partner Bill Plapinger.
2 minute read

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