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International Edition

Visa to shell out $15m in fees on landmark IPO

White & Case is in line for a bumper pay-day after it emerged that client Visa is to shell out $15m (£7.45m) in legal fees and expenses for its long-awaited initial public offering (IPO), writes The American Lawyer. Visa disclosed details of its legal fees in an amended registration statement filed with the Securities & Exchange Commission (SEC) last week ahead of this month's IPO, which the company says could net a US record $18.8bn (£9.33bn) in stock sales.
2 minute read

International Edition

Lovells leads Autogrill's £545m duty free splurge

Lovells has landed a plum role advising new client Autogrill on its £545m purchase of World Duty Free Europe (WDF) from airport operator BAA. M&A partner Steven Bryan is leading the team for the top 10 City law firm, alongside fellow partners Kevin Ashman (tax), David Harper (employment) and Nick Broomfield and Lesley Ainsworth (both competition).
2 minute read

International Edition

CC Russia bags Barclays' Expobank deal

Clifford Chance (CC) has scooped the lead advisory role for Barclays on its £373m acquisition of Russian retail and commercial lender Expobank. Corporate partner Alex Erasmus lead a Moscow-based team for CC advising Barclays, a longstanding client of the magic circle firm.
2 minute read

International Edition

Freshfields' Paris arm leads trio on €800m Eurotunnel funding

The Paris offices of Freshfields Bruckhaus Deringer, Shearman & Sterling and Sullivan & Cromwell are advising Eurotunnel on its plans to secure €800m (£612m) of funding. Last month's issue of deferred equity securities is part of a planned €1.7bn (£1.3bn) refinancing and is being fully underwritten by a Goldman Sachs infrastructure fund.
2 minute read

International Edition

Nabarro and SJ Berwin secure lead roles on £358m 'swap' of prime London real estate

Nabarro and SJ Berwin have taken lead roles on a London property swap deal worth around £358m between Great Capital Partnership (GCP) and the Crown Estate.…
2 minute read

International Edition

Kirkland, Sidley win €216m bank buy-out roles

Kirkland & Ellis and Sidley Austin have advised on Allied Irish Bank's acquisition of a 49.99% stake in Bulgarian American Credit Bank (BACB) for €216m (£166m). The deal, which is set to close over the next few months, has seen Sidley London corporate partner Thomas Thesing lead the team advising Allied Irish.
2 minute read

International Edition

Commentary: Clarity for Howrey as it remembers its IP roots in the City

Howrey finds when it's broke it pays to fix it, as it regroups in City on intellectual property and antitrust 'brands'
3 minute read

International Edition

Dealmaker: Michael McDonald

Michael McDonald is one of the leading M&A partners in Cleary Gottlieb's City arm
5 minute read

International Edition

Freshfields steers Porsche to new €10bn VW stake

Freshfields Bruckhaus Deringer has taken the lead advisory role for Porsche as it moves to acquire a majority stake in Volkswagen (VW). Porsche, which already owns just under 31% of its fellow German automotive giant, plans to up its stake to more than 50%, subject to regulatory approval, with the additional shares currently valued at around €10bn (£7.7bn).
2 minute read

International Edition

Norton Rose joins CC on record Islamic financing

Clifford Chance (CC) and Norton Rose have bagged lead roles on the largest Islamic financing of a UK property to date - the sale of Chelsea Barracks in a deal worth almost £1bn. CC advised the buyer, Project Blue, while City rival Norton Rose acted for the underwriting banks on a deal that values Chelsea Barracks at £959m.
2 minute read

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