Deals And Transactions Legal News Coverage

International Edition

By a:1:{i:0;s:1:" ";} | October 22, 2008

Eversheds has landed the lead role for new client Enstar Group on its $343.4m (£195m) acquisition of insurance group Unionamerica Holdings. The Eversheds team was led by corporate partners Jon Roper and Rob Pitcher, with support from tax partner Casper Fox, banking partner Nick Swiss and employment partner Paul Fontes.The top 10 law firm advised opposite Norton Rose, which was instructed for the sellers, insurance group Travelers. The Norton Rose team was led by corporate finance partners Martin Scott and Maria Ross, with assistance from tax partner Dominic Stuttaford.

2 minute read

International Edition

Commentary: Icelandic meltdown promises pain and gain on High Street

By Charlotte Edmond | October 15, 2008

For a small country, the fallout from Iceland's banking crisis has been pretty spectacular. Standing at around £12bn, the country's entire gross domestic product works out to be roughly the same as the total revenues of the UK's top 50 law firms - yet its foreign liabilities are about five times that amount. Little wonder, then, that City lawyers are predicting a glut of work as the UK ramifications of last week's collapse of three of Iceland's largest banks become clearer.In recent years, there has been a stream of Icelandic investment into UK businesses, with rafts of City firms picking up mandates as Icelandic banks and investment houses made in-roads into everything from the retail sector to football clubs.

3 minute read

Legal Week

Commentary: Icelandic meltdown promises pain and gain on High Street

By a:1:{i:0;s:1:" ";} | October 15, 2008

For a small country, the fallout from Iceland's banking crisis has been pretty spectacular. Standing at around £12bn, the country's entire gross domestic product works out to be roughly the same as the total revenues of the UK's top 50 law firms - yet its foreign liabilities are about five times that amount. Little wonder, then, that City lawyers are predicting a glut of work as the UK ramifications of last week's collapse of three of Iceland's largest banks become clearer.In recent years, there has been a stream of Icelandic investment into UK businesses, with rafts of City firms picking up mandates as Icelandic banks and investment houses made in-roads into everything from the retail sector to football clubs.

16 minute read

International Edition

Magic circle firms take lead on £37bn bailout for trio of banks

By Charlotte Edmond | October 15, 2008

Allen & Overy (A&O), Slaughter and May and Freshfields Bruckhaus Deringer are among the top City firms winning roles on the UK Government's £37bn bailout of three of the country's biggest banks. Freshfields has reprised its role for longstanding client the Bank of England on the rescue plan, fielding a team under corporate partner Michael Raffan. Slaughters is acting for the Treasury on the agreement, which will lead to the Government owning a majority stake in Royal Bank of Scotland (RBS) and a stake of 43% in the merged HBOS and Lloyds TSB.

3 minute read

Legal Week

Magic circle firms take lead on £37bn bailout for trio of banks

By a:1:{i:0;s:1:" ";} | October 15, 2008

Allen & Overy (A&O), Slaughter and May and Freshfields Bruckhaus Deringer are among the top City firms winning roles on the UK Government's £37bn bailout of three of the country's biggest banks. Freshfields has reprised its role for longstanding client the Bank of England on the rescue plan, fielding a team under corporate partner Michael Raffan. Slaughters is acting for the Treasury on the agreement, which will lead to the Government owning a majority stake in Royal Bank of Scotland (RBS) and a stake of 43% in the merged HBOS and Lloyds TSB.

11 minute read

International Edition

A&O lands role advising HBOS on £1.3bn sale of Australian assets

By a:1:{i:0;s:1:" ";} | October 15, 2008

Allen & Overy (A&O) has landed a lead role advising HBOS on the £1.3bn sale of some of its Australian operations to the Commonwealth Bank of Australia (CBA). The CBA is to buy the Bank of Western Australia and St Andrew's Australia from HBOS. London corporate partner Alistair Asher has taken the lead role on the UK aspects of the deal, assisted by corporate partner George Knighton and corporate associate Sara Pickersgill. HBOS has also turned to Australian law firm Clayton Utz for local advice, with M&A head Rod Halstead advising from the firm's Sydney office.

2 minute read

International Edition

Shearman and CC win leads on £83m Indian acquisition

By a:1:{i:0;s:1:" ";} | October 15, 2008

Shearman & Sterling and Clifford Chance (CC) have secured lead roles on the £83m acquisition of a majority stake in Indian outsourcer Cambridge Solutions. The deal - which marks a relatively rare public takeover of an Indian business by a FTSE-listed company - saw UK outsourcing company Xchanging buy a 75% stake in Bangalore provider Cambridge Solutions.CC advised Xchanging on the deal, fielding a team headed by London corporate partner Jonathan Beastall, supported by co-relationship partner David Griffiths and competition partner Oliver Bretz.

1 minute read

International Edition

Freshfields flying high on BAA's Gatwick sale

By a:1:{i:0;s:1:" ";} | October 09, 2008

Freshfields Bruckhaus Deringer has bagged the lead role for BAA in the sale of Gatwick Airport. BAA confirmed yesterday (8 October) that the magic circle firm will provide corporate advice on the sale of the UK's second-largest airport. M&A partner Laurie McFadden will lead the Freshfields team advising BAA, which is putting the airport up for sale to comply with the Competition Commission's demand that it sell three of its seven UK airports. Herbert Smith, meanwhile, is advising the airport operator on real estate and competition issues. Partner Julian Pollock is leading the real estate team, while partner Stephen Wisking is handling competition matters.

2 minute read

International Edition

Dealmaker: Tony Leifer

By a:1:{i:0;s:1:" ";} | October 08, 2008

Olswang publishing guru Tony Leifer on Captain Bob, Singapore prisons and preferring pineapples

4 minute read

International Edition

Bank turmoil helps elite firms to tighten grip on M&A market

By a:1:{i:0;s:1:" ";} | October 08, 2008

Top UK and US law firms dominate the latest European M&A rankings for Q3 2008 - a period in which global deal volume fell by 36% compared with the same quarter the previous year. The latest research from Legal Week's data provider, Mergermarket, shows the magic circle taking the top positions by value and volume for European M&A, with New York leaders also featuring highly.

4 minute read

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