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International Edition

Russian legal market set for boost with Gov't plan for sale of $29bn-worth of state assets

The Russian legal market is set to see a surge of work in the coming months following news of the proposed sell-off of $29bn (£18.6bn) of state assets. The Russian Government set out its plans last week as a means of reducing the country's budget deficit over the next three years, with minority stakes in around 10 state-owned companies to be put up for sale.
2 minute read

International Edition

Sullivan and Macfarlanes lead on $1.3bn insurance takeover bid

Sullivan & Cromwell and Macfarlanes have scored lead roles on US private equity group Apollo's $1.3bn (£835m) offer for Brit Insurance. Sullivan is advising Apollo on the bid with a team led by corporate partners Tim Emmerson, Ben Parry and Nikolaos Andronikos, alongside finance partner Neal McKnight and European counsel Rajan Subberwal.
2 minute read

International Edition

Travers and Taylor Wessing advise on $475m broadband company buyout

Travers Smith and Taylor Wessing have won roles on the $475m (£308m) acquisition of US broadband manufacturing company 2Wire by Yorkshire-based set-top box maker Pace. Travers head of corporate finance Spencer Summerfield advised longstanding client Pace on the purchase, which was announced last week (26 July) and will now see Pace look to raise debt from banks, with the deal set to close by the end of the year.
2 minute read

International Edition

Some reasons to be cheerful (about the deal market)

For a market in a deal slump there seem to be a lot of deals happening at the moment. Recent weeks have sizeable bids for companies as varied as International Power, Ontex, Chloride, SSL and the UK assets of EDF, not to mention the merger between PartyGaming and bwin Interactive Entertainment last week. For seasoned deal professionals the question must be whether the cycle is finally beginning to turn after a two-year slump. Well, in a light-hearted summer mood, we've decided in this column to hunt out what reasons there are to be cheerful. While not hugely bountiful, the good news is that there are more of them than the current tales of woe would have you believe.
4 minute read

International Edition

CC and A&O head up Thai company's €680m buyout of John West owner

Clifford Chance (CC), Allen & Overy (A&O) and Latham & Watkins have advised on the €680m (£566m) acquisition of John West parent company MWBrands by Thai Union Frozen Products (TUF). CC acted for TUF with a team led by corporate partner Kathy Honeywood alongside finance partner Jim MacHale and antitrust partner Greg Olsen.
2 minute read

International Edition

Dorsey boosts City buyout practice with Brown Rudnick partner hire

Dorsey & Whitney has expanded its private equity practice with the hire of Brown Rudnick private equity partner Roger Gregory, who is set to join the firm's London office at the end of August. Gregory's practice focuses on venture capital and private equity in the mid-market sector. He represents institutional investors, management teams and buyout houses.
2 minute read

International Edition

Herbert Smith, DLA lead on £5.8bn EDF sale to Hong Kong billionaire

Herbert Smith and DLA Piper have scored lead roles on EDF's £5.8bn sale of its UK electricity networks business to Cheung Kong Infrastructure (CKI), a company led by Hong Kong billionaire Li Ka-shing. DLA Piper advised CKI, which outbid a consortium of Macquarie of Australia, the Abu Dhabi Investment Authority, and Canada Pension Plan. The firm fielded a team led by London-based corporate partners Jon Hayes and Kiran Sharma.
2 minute read

International Edition

UK trio strike lucky with roles on €2bn online gaming merger

Freshfields Bruckhaus Deringer, Clifford Chance (CC) and Bird & Bird are advising on the €2bn (£1.7bn) merger of two major online gambling sites which is set to create the world's largest listed online gaming business. Freshfields is advising PartyGaming on its tie-up with bwin Interactive Entertainment, fielding a team led by Chris Mort, the head of the firm's leisure sector group, alongside dispute resolution partner Geoff Nicholas, employment partners Simon Evans and Kathleen Healy and tax partner Michael Sedlaczek.
2 minute read

International Edition

Eversheds corporate partner named new head of private equity

Eversheds has appointed a new head of private equity, with City corporate partner Richard Moulton taking over the role. Moulton replaces Mark Spinner, the firm's head of corporate, who led the private equity group for eight years. Spinner, who was appointed corporate head two years ago, will continue to practise in the private equity group but will now shift his management focus to the corporate group.
2 minute read

International Edition

Nabarro targets start-ups with launch of new entrepreneurs group

Nabarro has rolled out a new entrepreneurs group within its corporate practice, with the aim of targeting more start-up companies. The firm will offer fixed fees and start-up packs to growing companies, advising them on a range of topics including venture capital, company law, commercial law, debts, disputes, employment and intellectual property.
2 minute read

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