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International Edition

CMS launches in Oman with partner-free office

CMS has added a second Middle East office to its international network with the launch of a base in Oman yesterday. The office adds to its presence in the region after it opened its first Middle Eastern base in Dubai in September 2012.
2 minute read

International Edition

How to navigate dispute resolution in Africa

Over the last decade investment into Africa from foreign companies, financial institutions and private equity groups has soared, while investment between African countries is also increasing. For those willing and able to seek out its opportunities, Africa represents the world's largest emerging market, but there are several factors that are particular to doing business in the continent that mean the scope for dispute resolution will inevitably increase. For instance: Governments may seek to revisit past legislation or renegotiate agreements with a view to obtaining higher revenues. As the 'soft law' obligations of companies are increasingly on the radar of governments and civil rights organisations, disputes could arise where companies are alleged to have made investments without due care for the rights and concerns of local communities. Disputes may also be caused by dealings with governments that are under international censure or sanctions regimes, or with unethical officials in legitimate governments.
4 minute read

International Edition

Hogan Lovells eyes Africa network as City firms look to plant flags in region

Hogan Lovells is set to broaden its Africa capability, with the firm having already identified five specific markets to target. The plans, which will be developed over the next two months, will be presented to clients and local firms in target jurisdictions. The move comes in the wake of Hogan Lovells' combination with South African outfit Routledge Modise last December.
3 minute read

International Edition

Eye on Africa: why the continent is set to be an investment hotspot in 2014 and beyond

Africa remains an exciting option for investors with immense opportunities that continue to inspire confidence and which, over time, will drive global growth. Positivity abounds for mergers and acquisitions for 2014 and onwards, with many predicting that the most active area for deals will continue to be the energy, mining and utilities sector, which, according to Mergermarket's report on Africa and the Middle East, provided seven out of the 10 largest deals in 2013. The consumer sector accounted for the next largest swathe of deals, and then, with the increasing need to develop new technological solutions, the media, technology and telecommunications sector.
4 minute read

International Edition

When in Africa – the dangers of a 'one size fits all' approach to Africa

Running an effective in-house legal team across the vast continent of Africa must be a daunting prospect. Take GE. Its 12-strong sub-Saharan African team is based across four countries. But the multinational's operations span 35 sovereign states, and, thanks to Africa's status as one of the world's most economically vibrant regions, that list is likely to grow in the next year. Given that each of the region's 48 countries has its own set of laws and way of doing business and that accurate information about legislation is often hard to come by, Bruce Campbell, general counsel at GE Africa, has his hands full.
8 minute read

International Edition

Turning up the heat – South Africa's role as a hub for the wider continent

According to many lawyers in South Africa the vibe at the African Mining Indaba – a practically mandatory event in every major local law firm's calendar – was somewhat reserved this year. It is not hard to see why, when taking into account reduced output volumes from the economy's cornerstone mining sector. Onlookers observe that South Africa is facing an onslaught of negative sentiment given the volume of industrial disputes and unrest in the mining sector as well as the imminent presidential election, causing many investors to hold off until a clearer picture emerges. Added to this, the rand has tumbled against the world's major currencies, resulting in a hike in benchmark interest rates. Some lawyers in the jurisdiction have been surprised, then, at the influx of international newcomers in the past year. Linklaters became the first of the magic circle to establish a significant presence on the ground when it sealed an alliance with Webber Wentzel at the end of 2012, while Hogan Lovells forged a tie-up with former Eversheds alliance firm Routledge Modise in December last year, with the latter now trading under the Hogan Lovells brand. Eversheds itself re-entered the South African market at the same time, after signing an agreement with Mahons Attorneys a year after its split with Routledge.
14 minute read

International Edition

Wragges, LG on lookout for global merger following domestic tie-up

Wragge & Co and Lawrence Graham (LG) will seek a global merger once their own tie-up goes live on 1 May. In an exclusive interview with Legal Week, Wragges senior partner Quentin Poole said a merger with an international practice or practices was on the cards. The firms are thought to be interested in the model adopted by Norton Rose Fulbright and Dentons, both of which have expanded rapidly through a series of combinations. "Both firms will be more attractive now we have a bigger proposition in the UK and we are very open minded about a global merger," said Poole.
3 minute read

International Edition

Perfect partner – why Mauritius is an attractive international finance centre

Mauritius, long known as the premier platform for inward investment into India, is increasingly used for Africa-related transactions. The current African boom has been well-documented, including impressive rates of growth and rising foreign direct investment. Opportunities abound in numerous jurisdictions and in a wide variety of sectors such as natural resources, agriculture, infrastructure, energy, mining, telecommunications, logistics, trade and tourism. Lawyers in particular should be aware of the potential benefits of a Mauritius structure in the context of Indian and African investments. Relevant contexts to be borne in mind include investment holding, private equity and funds, with related areas including banking and finance (including aircraft finance) and insurance. The country is among the leading sources of foreign direct investment into India. The strength of the double taxation avoidance (DTA) treaty was a boon to investment into India as the country enjoyed robust economic growth particularly since the turn of this century.
9 minute read

International Edition

White & Case and CC lead on ICBC's $770m acquisition of Standard Bank

White & Case and Clifford Chance (CC) have landed the advisory mandates on Industrial and Commercial Bank of China's (ICBC) $770m (£635m) acquisition of a majority stake in South Africa's Standard Bank.
3 minute read

International Edition

The compass points south – how do in-house legal teams in Africa rate their external advisers?

Ian Isdale, group company secretary and general counsel of leading African food and consumer goods company Tiger Brands and immediate past president of the Corporate Lawyers Association of South Africa, is putting it mildly when he says: "There has been a heightened interest in Africa and in the next five years I don't see that interest waning." Recent years have seen a host of UK and US law firms – ranging from Norton Rose Fulbright and Linklaters to Hogan Lovells and even Slaughter and May – attempting to come up with ways to penetrate a market where activity levels have remained buoyant, despite economic challenges elsewhere in the world. So with law firms and corporates increasingly turning their attention south, Legal Week Intelligence has, for the first time, extended its flagship Client Satisfaction Report to Africa, to uncover the key trends affecting in-house legal teams in the continent and their satisfaction with external legal advisers
15 minute read

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