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Legal Week

Dentons in for Sainsbury's £1bn British Land JV

Denton Wilde Sapte and SJ Berwin have won lead roles advising supermarket giant Sainsbury's on a £1.2bn property joint venture with British Land. Dentons saw off a host of panel advisers to win the lead role for Sainsbury's, fielding a team under property partner Andrew Bedford and corporate partners Richard Macklin and Matthew Tinger. The joint venture is part of the store's attempts to unlock value from its sizeable real estate portfolio.
13 minute read

International Edition

Hogan and Herbies handle Ford's £1bn Jaguar sale

Hogan & Hartson has completed its most significant City corporate mandate to date after advising automotive giant Ford on the $2bn (£1bn) sale of its Jaguar and Land Rover subsidiaries to Tata Motors. Ford relationship partner William Curtin led the deal team from Hogan's London office, with assistance from fellow City corporate partner Hywel Jones and New York-based corporate partner Claud Eley.
2 minute read

International Edition

Norton Rose leads on landmark London sukuk

Norton Rose has advised on the first-ever listing of a sovereign sukuk bond on the London Stock Exchange. The top 10 City firm advised the Kingdom of Bahrain, a longstanding Norton Rose client, on the issue of its £176.8m al-Ijara bond. The listing started trading on 20 March.
2 minute read

International Edition

Reed Smith lands Unicredit as client on Turkish auto acquisition

Reed Smith Richards Butler has won a new European finance client, with the firm taking on its first transaction for UniCredit Group. The transatlantic firm's London arm has recently signed its first deal for the bank - advising on its acquisition of a 20% share in the Turkish automotive parts supplier Martur for an undisclosed amount.
2 minute read

International Edition

CC and Cleary win top roles on mining mega-deal as Vale approaches Xstrata

Clifford Chance (CC) and Cleary Gottlieb Steen & Hamilton have won key advisory roles on one of the world's biggest potential takeovers - Brazilian mining company Vale's approach to Swiss rival Xstrata for an estimated $90bn (£44.9bn). If the deal goes ahead it would see Vale threatening BHP Billiton's position as the world's largest mining company. CC has won the lead role for Vale, with the magic circle firm fielding a team led by Sao Paulo-based relationship partner Anthony Oldfield and London-based corporate partner David Pudge.
2 minute read

International Edition

Dealmaker: Iain Newman

Iain Newman is the straight-talking, fleece-wearing head of corporate at Nabarro
5 minute read

International Edition

Commentary: Darling's debut dampens lawyer anger (sort of)

Having complained with ample justification of excessive fiddling during Gordon Brown's reign as chancellor, tax advisers confronted Alistair Darling's debut with little new to get steamed up about. Given the storm of protest that met Darling's wildly-reactive pre-Budget report last autumn, this was certainly not because there was nothing to moan about. But it was a long time since the contents of a Budget had been so comprehensively trailed ahead of the day itself, a move presumably intended to reinforce the steady-as-she-goes message in the face of continued turmoil in global financial markets. On that yardstick, advisers are pretty unanimous that Darling delivered, having unveiled a series of measures of little import. The thing that tax and private client lawyers were most concerned about, taxation of non-domiciled individuals, gained the most attention and a fair amount of grudging acceptance (you couldn't call it approval). Darling effectively announced U-turns on everything except the actual charge of £30,000 for non-doms wishing to maintain their tax status after seven years in the UK, going a long way towards damping down anger to the level of mere simmering resentment and distrust.
4 minute read

International Edition

Lovells advises GICSI on €1bn entry into Italian funds market

Lovells has advised Singapore sovereign fund GIC Special Investments (GICSI) on its €1bn (£760m) investment in Italy's Sintonia - an investment vehicle owned by the Benetton family. The deal, which was signed on 11 March, is thought to mark the first Italian market entry by a sovereign fund, a number of which have been stepping up their investment in Europe. It saw GICSI take a 3% stake in Sintonia, with the fund subscribing to a capital increase that will see its overall stake rise to 14.3%.
2 minute read

International Edition

Bank of Montreal calls on Taylor Wessing as it stabilises SIVs with $12.7bn liquidity

Taylor Wessing has landed the lead role for Bank of Montreal as the Canadian bank moves to shore up two structured investment vehicles (SIVs) it manages - providing an extra $12.7bn (£6.3bn) of liquidity.The Anglo-German firm acted for the London branch of Bank of Montreal as both liquidity provider and investment fund manager when the bank agreed to give additional funding to two of its vehicles - Links Finance Corporation and Parkland Finance Corporation.
2 minute read

Legal Week

Bank of Montreal calls on Taylor Wessing as it stabilises SIVs with $12.7bn liquidity

Taylor Wessing has landed the lead role for Bank of Montreal as the Canadian bank moves to shore up two structured investment vehicles (SIVs) it manages - providing an extra $12.7bn (£6.3bn) of liquidity.The Anglo-German firm acted for the London branch of Bank of Montreal as both liquidity provider and investment fund manager when the bank agreed to give additional funding to two of its vehicles - Links Finance Corporation and Parkland Finance Corporation.
6 minute read

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