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International Edition

Linklaters and White & Case take lead on record LNG financing deal

Linklaters and White & Case have signed off the world's largest limited recourse oil and gas financing deal, worth $5.3bn (£2.7bn). The deal, which closed last week after eight years, saw Linklaters acting for Sakhalin Energy Investment Company (SEIC) on the phase-two financing of the $20bn (£10.2bn) Sakhalin 2 liquid natural gas (LNG) project in Russia.
2 minute read

International Edition

City trio land roles as £200m Bahraini Freightliner deal braves tough market

Addleshaw Goddard, CMS Cameron McKenna and Macfarlanes have won roles on Bahrain investment bank Arcapita's acquisition of UK freight transfer company Freightliner Group. The deal, which signed earlier this month (13 June), saw Freightliner's owners - 3i, Electra Private Equity and Freightliner management - sell the company to Arcapita for around £200m.
2 minute read

International Edition

Dentons cashes in on Dutch PPP project

Denton Wilde Sapte has secured a role advising the lead arrangers on the E600m (£474m) Coentunnel public-private partnership (PPP) project. The project, which reached financial close earlier this month (10 June), is one of the largest infrastructure projects in the Netherlands and will see the development of a new tunnel and the renovation of an existing tunnel on the A10 ring road near Amsterdam.
2 minute read

International Edition

International firms line up for roles on $13bn BG Group bid

Allen & Overy, Australia's Mallesons Stephen Jaques and New Zealand's Simpson Grierson are advising UK energy giant BG Group on its $13bn (£6.6bn) hostile takeover bid for Origin Energy, Australia's second-largest energy company, The American Lawyer has reported.Clayton Utz is representing Origin, which has advised its shareholders to take no action on the bid.
2 minute read

International Edition

A&O and CC take top roles on Barclays fundraising

Allen & Overy (A&O) and Clifford Chance (CC) are among a raft of firms that have won roles on Barclays' high-profile capital raising. A&O is advising Sumitomo Mitsui Banking Corporation (SMBC) on its £500m investment into Barclays, while CC has taken the lead role for Barclays.
2 minute read

International Edition

Lovells leads on latest Bradford & Bingley bid

Lovells has advised financial services company Resolution on its attempt to wrest control of troubled UK lender Bradford & Bingley (B&B) via a proposed £400m cash injection. Under the terms of the proposal by Resolution - which together with founder Colin Cowdery owns around 20% of B&B - the lender would scrap plans for a £300m rights issue and a proposed cash injection from US private equity group TPG.
2 minute read

International Edition

Magic circle M&A teams hold steady as credit squeeze hits deal markets

European M&A activity levels have held up across the magic circle despite the downturn in the credit markets. Statistics compiled for Legal Week by Mergermarket show that volume levels fell by a third across magic circle advisers in the first calendar quarter of 2008, compared with Q1 2007. Despite the significant drop, the firms put in a better performance than many would have expected given the slowdown in overall deal activity.
2 minute read

International Edition

Ashurst, Kirkland and Bonelli lead on PE trio's E1bn share purchase

Ashurst, Kirkland & Ellis and Bonelli Erede Pappalardo have advised a consortium of private equity houses on their acquisition of a E1.1bn (£869m) stake in a telecoms company. The firms advised Apax, TA Associates and Madison Dearborn Partners on the deal, which saw the three houses come together to buy a 10% stake in holding company Weather Investments.
2 minute read

International Edition

Pinsents leads on £300m Wal-Mart sale

Pinsent Masons has bagged a lead role opposite Linklaters on the £300m sale of Wal-Mart and Asda-owned property company Gazeley to a Dubai Government investment vehicle. The national law firm has advised clients Wal-Mart and Asda on the deal, which saw Dubai World company Economic Zones World (EZW) pay around £300m to pick up warehouse producer Gazeley.
2 minute read

International Edition

Norton Rose powers up on wind farm project

Norton Rose has scored its first major role for the Crown Estate since being appointed to its energy panel, advising the property developer on an offshore wind farm project. The firm fielded a team under London construction and projects partner Nick Pincott and energy partner John Wood to advise Crown Estate, with the mandate coming little more than a month after the firm was appointed to the organisation's newly-created energy panel in April.
2 minute read

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