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International Edition

Deal lawyers cheered as debt markets kick back into life

As corporate activity begins its long-awaited recovery in the aftermath of the financial crisis, life certainly promises to be eventful for debt capital markets (DCM) lawyers - which is a considerable improvement on last year. The consensus from deal lawyers is that the debt market is also showing signs of life. New data from Thomson Reuters highlights a healthy revival in DCM activity around the globe, with the first quarter of the year seeing a 37% rise in activity on the last three months of 2009. While Q1 global DCM activity was still down by 10% on the equivalent period last year, the market is no longer entirely driven by companies seeking funding because they have no alternative.
3 minute read

International Edition

Herbert Smith and A&O take lead on Bank of Ireland's €3.4bn cash plan

Herbert Smith and Allen & Overy (A&O) are advising on the Bank of Ireland's plans to raise €3.4bn (£2.9bn) in an effort to boost its recovery in the wake of the financial crisis. The bank's cash plan, which will include a €1.9bn (£1.6bn) rights issue and a €500m (£431m) share placing with institutional investors, comes after it was bailed out by the Irish Government following the collapse of the country's property market.
2 minute read

International Edition

Four firms take top spots on on $10.6bn telecoms tie-up

A quartet of US firms have taken lead roles on the $10.6bn (£6.9bn) acquisition of Qwest Communications by rival telecoms company CenturyTel, reports The Am Law Daily. Qwest was advised by US firms Skadden Arps Slate Meagher & Flom and Wilmer Cutler Pickering Hale & Dorr. Skadden provided M&A advice with a team led by partner Charles Mulaney, while WilmerHale advised on antitrust and regulation with a team led by partners James Lowe, Lynn Charytan and Samir Jain.
2 minute read

International Edition

Freshfields and Weil Gotshal lead on £500m private equity buyout of DFS

Freshfields Bruckhaus Deringer and Weil Gotshal & Manges have won roles on a £500m private equity deal that sees Advent International take over UK furniture retailer DFS. DFS and Lord Kirkham, the founder and owner of the company, were advised by a Freshfields team led by finance partner Chris Howard and corporate partner Andrew Hutchings.
2 minute read

International Edition

Magic circle duo take top roles on biggest London IPO for three years

Freshfields Bruckhaus Deringer and Linklaters have won roles on the largest London listing in nearly three years, reports The Am Law Daily. Essar Energy, a subsidiary of Indian conglomerate Essar Group, has set a price range for its planned $2.5bn (£1.6bn) initial public offering (IPO) on the London Stock Exchange.
2 minute read

International Edition

Freshfields and Herbert Smith lead on Deutsche Bahn's £1.59bn Arriva buyout

Freshfields Bruckhaus Deringer has taken a lead role advising Deutsche Bahn on its £1.59bn acquisition of European public transport services provider Arriva. The magic circle firm's team was headed up by corporate partners Barry O'Brien and Piers Prichard Jones in London and Thomas Buecker in Frankfurt.
2 minute read

International Edition

Dealmaker: Nick Allen

Hammonds corporate veteran Nick Allen on failing to reach out to a rewarding career in criminal law...
4 minute read

International Edition

Dentons seals deal to provide ATE insurance

Denton Wilde Sapte has sealed a deal with a major insurer placing it among the few major law firms with authority to broker after-the-event (ATE) insurance for litigation clients. The top 20 UK firm signed a deal with FirstAssist Legal Protection giving the firm delegated authority to set up insurance for an unlimited number of cases across fields including property, professional negligence, construction and general commercial litigation.
2 minute read

International Edition

Hammonds leads on £100m sale of Cath Kidston shares

Hammonds has won a lead role advising on the £100m sale of a majority stake in luxury retailer Cath Kidston to private equity house TA Associates. The deal, which closed at the end of last month (30 March), saw corporate partner and client relationship manager Nick Allen advise the shareholders of Cath Kidston on the sale following a tender process involving a number of firms.
2 minute read

International Edition

Addleshaws and Latham lead on £350m card company acquisition

Addleshaw Goddard and Latham & Watkins have advised on the £350m buyout of greeting cards chain Card Factory by Charterhouse Capital Partners. Addleshaws advised Card Factory on the buyout of the Wakefield-based business, which boasts some 480 shops across the UK and employs around 4,500 staff.
2 minute read

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