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International Edition

Links tops Euro equity capital markets rankings

Linklaters has retained the top spot in the European equity capital markets deal rankings, with the firm advising on double the amount of deals as its competitors. New research by Thomson Reuters shows the magic circle giant advised on 20 equity capital market deals totalling $14.6bn (£7.2bn) during the first half of 2008, keeping it above Freshfields Bruckhaus Deringer, which advised on 11 deals worth $29.8bn (£15.3bn).
3 minute read

Legal Week

Travers Smith lands Goldman Sachs as client as private equity practice grows

Travers Smith has gained a clutch of new clients, including investment banking giant Goldman Sachs, as the City firm continues to make inroads into the private equity arena
3 minute read

International Edition

Freshfields and Herbies lead on $10bn mining bid

Freshfields Bruckhaus Deringer is advising Swiss mining giant Xstrata on a $10bn (£5.15bn) hostile bid for Lonmin, the world's third-largest platinum producer, writes The Am Law Daily.Lonmin rejected the hostile bid, describing it as "opportunistic" and "entirely unwelcome" in a statement issued by Lonmin's board on Wednesday (6 August).The target company's shares jumped over 50% after Xstrata announced its bid, driving share prices higher than the premium represented by Xstrata's offer.
2 minute read

International Edition

Travers Smith lands Goldman Sachs as client as private equity practice grows

Travers Smith has gained a clutch of new clients, including investment banking giant Goldman Sachs, as the City firm continues to make inroads into the private equity arena
2 minute read

International Edition

Dundas and Freshfields lead the queue on RBS's £950m Tesco finance sell-off

Dundas & Wilson and Freshfields Bruckhaus Deringer have won roles advising on the £950m buy-out of Tesco's personal finance arm.Dundas has taken the lead for the Royal Bank of Scotland (RBS) as it sells its 50% stake in Tesco's consumer banking arm back to Tesco. The Scots law firm fielded a team led by Edinburgh corporate partner Kenneth Rose, with IT partners Paul Graham and Allan Wardhaugh also advising. Freshfields, meanwhile, was instructed by regular client Tesco, with corporate partner Claire Wills leading a team that also included partners from the firm's intellectual property, competition, employment and real estate teams.
2 minute read

Legal Week

Dundas and Freshfields lead the queue on RBS's £950m Tesco finance sell-off

Dundas & Wilson and Freshfields Bruckhaus Deringer have won roles advising on the £950m buy-out of Tesco's personal finance arm.Dundas has taken the lead for the Royal Bank of Scotland (RBS) as it sells its 50% stake in Tesco's consumer banking arm back to Tesco. The Scots law firm fielded a team led by Edinburgh corporate partner Kenneth Rose, with IT partners Paul Graham and Allan Wardhaugh also advising. Freshfields, meanwhile, was instructed by regular client Tesco, with corporate partner Claire Wills leading a team that also included partners from the firm's intellectual property, competition, employment and real estate teams.
5 minute read

International Edition

Dentons tends to Patientline administration

Denton Wilde Sapte has won the lead role on the collapse of Patientline.Patientline, which provides telephone, television and internet services for patients in hospitals, was placed into administration on 25 July.The top 20 firm has been advising administrator Deloitte on the collapse as well as advising a syndicate of lending banks to the company. The banks, which include Royal Bank of Scotland and HSBC, have exchanged some £35m of their debt in Patientline in return for shares in a new company, Hospedia, which now owns Patientline UK.
2 minute read

International Edition

US duo take lead on £1.2bn Sony BMG share sale

Top US firms Davis Polk & Wardwell and Paul Weiss Rifkind Wharton & Garrison have landed roles on the $1.2bn (£616m) sale of German music company Bertelsmann's 50% stake in Sony BMG to Sony Corp. The deal will see the Japanese music giant take full control of the Sony BMG joint venture that was created in August 2004.The newly-formed company will be called Sony Music Entertainment Inc (SMEI) and will be a wholly-owned subsidiary of Sony Corp.
2 minute read

International Edition

CC and Freshfields seal £750m insurance sale

Clifford Chance (CC) and Freshfields Bruckhaus Deringer have taken lead roles in the £753m sale of Barclays Life Insurance to Swiss Re. The global insurance group, agreed to buy Barclays' insurance arm for £753m on Tuesday (5 August)CC is advising regular client Swiss Re with a team led by London-based corporate partners Clare Swirski and Katherine Coates. Partner Nick Mace is handling tax matters, and Imogen Clark is advising on employment matters.
1 minute read

International Edition

Commentary: Travers rides the cycle down - but no change of lane

For a crude barometer of market activity, you can do worse than Travers Smith. Naturally aligned to UK corporate M&A, the City firm's profitability is closely tied to activity in upper-mid market private equity and the Alternative Investment Market (AIM). Small wonder, then, that year-end results announced by Travers earlier this month have shown growth suffer at the hands of prolonged credit turmoil and tumbling business confidence. Although still a highly profitable outfit - profits per equity partner comfortably outstrips many rivals with a similar income - the firm has nonetheless reported a 7.6% drop in profits to £755,000, down from £817,000 last year. Turnover, meanwhile, has edged up 3% to sit at £81m for the year.
4 minute read

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