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International Edition

Cleary called in for Reliance's record Indian IPO

Cleary Gottlieb Steen & Hamilton has bagged a lead role advising on the $2.93bn (£1.48bn) initial public offering (IPO) of Indian energy group Reliance Power - understood to be the largest IPO seen to date in the key emerging market. Cleary advised the underwriters, led by investment banks Kotak Mahindra Capital Company and UBS Securities India, on the listing on the Bombay Stock Exchange and the National Stock Exchange of India.
2 minute read

International Edition

New York giants lead on $19bn Citi fundraising

Cleary Gottlieb Steen & Hamilton and Sullivan & Cromwell are among a clutch of US firms to have claimed advisory roles on a major finance deal that will see sovereign funds totalling $12.5bn (£6.3bn) dispensed to US banking giant Citigroup. Cleary and Sullivan acted as counsel to Citigroup, which has raised $12.5bn through private placements with investors including the investment arms of the Singapore and Kuwaiti governments.
2 minute read

International Edition

CC celebrates $14bn Chinalco corporate coup

Clifford Chance (CC) has won a high-profile mandate to advise the Aluminium Corporation of China (Chinalco) on its joint acquisition with Alcoa of a 12% stake in Rio Tinto for around $14bn (£7bn). The deal marks CC's first instruction from the client and is thought to represent the largest-ever overseas investment by a Chinese company. The move could block the efforts of Anglo-Australian mining company BHP Billiton to buy Rio Tinto.
2 minute read

Legal Week

CC celebrates $14bn Chinalco corporate coup

Clifford Chance (CC) has won a high-profile mandate to advise the Aluminium Corporation of China (Chinalco) on its joint acquisition with Alcoa of a 12% stake in Rio Tinto for around $14bn (£7bn). The deal marks CC's first instruction from the client and is thought to represent the largest-ever overseas investment by a Chinese company. The move could block the efforts of Anglo-Australian mining company BHP Billiton to buy Rio Tinto.
15 minute read

International Edition

A&O keeps up the pace post-Vinter to dominate global projects league

Allen & Overy (A&O) has topped the closely-watched global project finance league tables, storming ahead of rivals in both value and volume rankings. The 2007 Infrastructure Journal tables for legal advisers on global project finance deals show A&O leading the way after advising on 82 deals with a combined value of $68bn (£34.2bn).
3 minute read

International Edition

Dealmaker: Phil Sanderson

Phil Sanderson is one of the leading - and most sardonic - partners in Travers Smith's private equity team
4 minute read

International Edition

Commentary: Market turmoil sees revival of the M&A Renaissance men

They say a change can be as good as a rest so, for anxious lawyers facing turbulent commercial markets, a change can start to look a lot better than the alternative. You can seen such logic in recent initiatives from three of London's leading firms that, in different ways, will promote movement of staff between teams and offices. Perhaps the most striking move has come from Allen & Overy (A&O), which has put in place a number of measures to encourage staff to move to busier areas or locations. Managing partner David Morley says: "It is about making sure we are flexible to adapt to market conditions and client needs. We have invested time in looking at how we can build up practices and overcome concerns, giving training so it is less scary. Giving people a new opportunity they can be excited about is also one of the objectives."
4 minute read

Legal Week

Commentary: Market turmoil sees revival of the M&A Renaissance men

They say a change can be as good as a rest so, for anxious lawyers facing turbulent commercial markets, a change can start to look a lot better than the alternative. You can seen such logic in recent initiatives from three of London's leading firms that, in different ways, will promote movement of staff between teams and offices. Perhaps the most striking move has come from Allen & Overy (A&O), which has put in place a number of measures to encourage staff to move to busier areas or locations. Managing partner David Morley says: "It is about making sure we are flexible to adapt to market conditions and client needs. We have invested time in looking at how we can build up practices and overcome concerns, giving training so it is less scary. Giving people a new opportunity they can be excited about is also one of the objectives."
11 minute read

International Edition

Dundas client wins tender for £4.2bn Forth Crossing project

Scots leader Dundas & Wilson is celebrating after a client won the contract for the £4.2bn replacement Forth Crossing, one of the largest-ever civil engineering projects north of the border. Dundas' client, a consortium led by engineering and project firms Jacobs and Arup, beat five other tenders to win the contract to advise Transport Scotland on the entire project, from design to completion.
2 minute read

International Edition

Debevoise picks up £805m private equity role as US firms eye London funds arena

Debevoise & Plimpton's City arm has advised Exponent Private Equity on the closure of an £805m fund, marking the latest example of US law firms edging into the UK funds arena. London private equity partner Geoffrey Kittredge led the Debevoise team, assisted by tax partners Richard Ward in the UK and Peter Schuur in New York.
2 minute read

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