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International Edition

International firms aim to cash in on Chinese companies' appetite for outbound M&A deals

When Smithfield, the world's largest pork producer, announced at the end of May that it had agreed to be bought by a Chinese meat processing company, Shuanghui International, it made the US public sit up and take notice. The $4.7bn (£3.1bn) deal, which still requires regulatory approval, would be the largest takeover of a US business by a Chinese conglomerate, adding to fears among some Americans about the expansionist plans of their biggest economic rival.
5 minute read

International Edition

Aussie leaders scale back in Sydney as tough market pushes firms to rethink strategies

DLA Piper, Allens and Clayton Utz are among several major players in Australia downsizing in Sydney and cutting back lawyer numbers as the slump in work volumes continues to put pressure on costs. The trio, all of which have made staff cuts in the past year, are among a number of firms shedding office space in the Australian financial hub either by moving to smaller premises or subleasing floors.
3 minute read

International Edition

China-specialist lawyers among Minters and Corrs partner promos

Australian firms Minter Ellison and Corrs Chambers Westgarth have made up four and five lawyers respectively in their annual partnership promotion rounds, with each firm including an appointment of a China specialist. Taking effect 1 July, Minters added four new lawyers to its partnership ranks in 2013 down from five in 2012, whilst Corrs promoted five associates, up from three last year.
3 minute read

International Edition

Dentons boost Hong Kong cap markets team with O'Melveny hire

Dentons has boosted its Hong Kong capital markets practice with the hire of corporate partner Gordon Ng from O'Melveny & Myers. Ng, who is best known for his work on Hong Kong IPOs, will join the firm as head of corporate finance and capital markets for Asia, effective July 1.
3 minute read

International Edition

Ashurst sets 75% threshold for October vote on Aussie integration

Ashurst partners are set for an October vote on full financial integration with legacy Australian firm Blake Dawson, following their 2011 tie-up. A full merger of Ashurst and Blakes – now known as Ashurst Australia – will require a 75% majority of both partnerships when it goes to the vote later this year. The combination would see the firms combine legally as one partnership with a shared global profit pool, with the combined firm operating a managed lockstep – a system both firms currently use.
2 minute read

International Edition

China giant breaks mould with tender for Western-style panel

China Resources is set to appoint its first-ever roster of international law firms in a rare example of a major Chinese business adopting a formal panel approach. The state-owned conglomerate, which posted total turnover of HK$404.6bn (£33.8bn) in 2012, invited law firms to tender for places on its list of preferred international advisers at the end of last year, and is expected to announce the results in the next two months. The move follows the Hong Kong-headquarted company's establishment of a domestic panel for PRC advice last year, which saw Beijing's Anjie Law Firm – a 12-partner spinoff from domestic outfits Zhong Lun, Grandall and Mingtai – among those appointed.
3 minute read

International Edition

Firms clear to advise in Malaysia without local bases as 'fly-in, fly-out' gets OK

International law firms doing business in Malaysia will be able to advise clients without having to set up an office in the country, as details emerge of new legislation set to open up the country's legal market this summer. Malaysian authorities had been expected to restrict firms from doing business in the country on a 'fly-in, fly-out' basis, preventing firms from advising clients on the ground without an office in the country. However, revised regulations, which will be debated by parliament next month, say law firms without Malaysian offices will still be able to advise clients in the country, provided their stay does not exceed 60 days per lawyer, per year.
4 minute read

International Edition

Mission in Manila – Asia Development Bank's GC on switching from private practice

Christopher Stephens, the new general counsel of the Asian Development Bank, tells Elizabeth Broomhall about 'desperate' times at Coudert Brothers and why Asian companies don't need panels
11 minute read

International Edition

Simmons takes lead role on Indian gas acquisition in Mozambique

Simmons & Simmons has advised India's state-owned oil production giant on its $2.48bn acquisition of a 10% stake in an African gas field. ONGC Videsh (OVL), a subsidiary of the country's largest oil exploration and production company ONGC, signed an agreement this week with Oil India to jointly buy a 10% stake in the Mozambique LNG asset from Videocon Mauritius Energy, part of the Videocon Group.
2 minute read

International Edition

Cuatrecasas names new London head as firm targets global growth

Iberian leader Cuatrecasas Goncalves Pereira has appointed a new London managing partner, relocating Madrid-based corporate partner Antonio Baena to fill the role. Cuatrecasas' City office - which is staffed by Baena and an associate who has also relocated - offers international clients advice on entering the Iberian market.
2 minute read

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