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International Edition

Deal Commentary: Manhattan transfer finds New Yorkers less than bullish

The business press may be full of record profits on Wall Street but the mood among Manhattan's top lawyers is decidedly more ambivalent, as Legal Week found during a recent tour of the city. Following a (sort of) record year in US M&A, some firms have seen substantial rises in both revenue and profits, meaning double-digit growth from some of Wall Street's finest. But there are also many - mainly Manhattan-centric firms - that have only managed average profit rises of around 5%.
4 minute read

International Edition

CC, Dentons lead on landmark $2.5bn Islamic bond creation

Clifford Chance (CC) and Denton Wilde Sapte have advised on a landmark $2.5bn (£1.3bn) financing for Abu Dhabi-listed Aldar Properties, which sees the creation of the first Islamic convertible bond. CC advised new client, Abu Dhabi real estate development company Aldar Properties on the issue of convertible 'sukuk certificates', fielding a team under Dubai-based capital markets partner Debashis Dey. Capital markets partner Tim Morris led the London team structuring the convertible element of the issue.
2 minute read

International Edition

Macfarlanes bags Boots takeover role

Macfarlanes has scored a coveted role on the £9.7bn takeover bid for Alliance Boots, advising executive deputy chairman Stefano Pessina on his part in the takeover bid.
2 minute read

International Edition

CC in driving seat on Aston Martin buy-out

Clifford Chance (CC) and Skadden Arps Slate Meagher & Flom have secured roles on the £479m acquisition of iconic sports car company, Aston Martin from Ford.
2 minute read

International Edition

SJ Berwin bags $895m fund role for Patron

SJ Berwin has reinforced its links with Patron Capital after advising the property investor on its latest $895m (£611m) fund.
1 minute read

International Edition

Deals: M&A: 22/03/2007

- Olswang has advised mobile services company iTouch's global management team on its $100m (£51m) management buy-out of iTouch Holdings from Japanese entertainment company For-side.com. Corporate partners Mark Bertram and Stephen Hermer led the team at Olswang. Simmons & Simmons corporate partner Jason Daniel advised For-side.
2 minute read

International Edition

Deals: Property: 22/03/2007

SJ Berwin has advised British Land on the sale and leaseback of eight Somerfield supermarkets for £20m, in Cleethorpes, Immingham, Kirkby, Leeds, Banton Gorton and two in Scotland. The team was led by real estate partner Lewis Myers. Head of real estate Andrew Glynn and associate Simon East from TLT Solicitors acted for Somerfield.
1 minute read

International Edition

Deals: Commercial: 22/03/2007

- Lovells financial institutions partner Rachel Kent has advised Swiss Re on an outsourcing agreement with Aviva which will see Swiss Re take on the administration of three million life and pension policies. Slaughter and May advised Aviva with technology and outsourcing partner Robert Sumroy leading.
1 minute read

International Edition

Dealmaker: Jeremy Hoyland

Jeremy Hoyland heads Simmons' much-touted financial markets practice. He also likes Parmesan and Sheffield United
5 minute read

International Edition

City duo book places on First Choice-TUI tie-up

Allen & Overy (A&O) and Herbert Smith have landed the lead roles on the latest major tie-up in the fast-consolidating travel sector - the merger bid between UK holiday giant First Choice and German group TUI. The deal, which was announced today (19 March), will see First Choice combine with the tourism arm of TUI to create TUI Travel - a London-listed company with annual revenues of around £12bn.
2 minute read

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