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  • March 20, 2013 |

    Ashurst receives approval to open up new base in Beijing

    Ashurst is set to formally open for business in Beijing after becoming the latest international law firm to receive a licence from China's Ministry of Justice. The UK outfit has appointed banking and finance partner Patrick Phua to lead the office, which will include 11 associates and focus on structured finance and derivatives work, in addition to some outbound investment.

    1 minute read

  • March 11, 2013 |

    Links and Davis Polk push through landmark $9bn Lehman settlement

    Linklaters and Davis Polk have advised on a settlement agreement in the Lehman Brothers bankruptcy which will see $9bn (£6bn) of assets returned to the defunct bank's customers, in what administrator PwC has described as "a landmark moment" in long-running insolvency proceedings. The settlement and distribution plan concerns Lehman Brothers International (Europe)'s (LBIE) dealings with Lehman Brothers Inc (LBI), and the complex intercompany claims and liabilities between the parties.

    1 minute read

  • March 7, 2013 |

    Latham boosts Hong Kong disputes team with senior Sidley hire

    Latham & Watkins has expanded its Hong Kong disputes team with the hire of arbitration partner Ing Loong Yang from Sidley Austin. Yang, previously the co-chair of Sidley's international arbitration practice and an experienced litigator, has joined Latham to work alongside Hong Kong partner Simon Powell and of counsel Eleanor Lam.

    1 minute read

  • March 7, 2013 |

    Slaughters and Ashurst lead on Esure's London float

    Slaughter and May and Ashurst have won lead roles on the planned London listing of Esure, the insurer behind brands such as Sheilas' Wheels. The UK insurance company, which also owns half of price comparison website gocompare.com, hopes to raise £50m through an offer of ordinary shares to repay outstanding debt.

    1 minute read

  • February 28, 2013 |

    Beijing-bound firms face culture challenge as global elite flock to Chinese capital

    Home to cash-rich state-owned enterprises (SOEs) and a huge urban population, Beijing – like Singapore, Hong Kong and, more latterly, Korea – has long been a focus for international law firms. This year in particular looks set to see a raft of firms open up in the Chinese capital, with Berwin Leighton Paisner last month announcing plans to launch there in May, while a string of other firms – including Ashurst, Kirkland & Ellis, Eversheds, Gibson Dunn & Crutcher and Clyde & Co – also expect to receive their licences to practise in the coming months. Those that already have offices on the ground have also been busy ramping up their offerings. DLA Piper announced in January that it had hired a five-strong King & Wood Mallesons (KWM) team for Beijing, including projects partner Carolyn Dong. Norton Rose has brought in three new Beijing partners since March 2012: banking partner Li Jinnan from KWM, corporate partner Jing Wang from Allen & Overy and corporate partner Barbara Li from Baker & McKenzie.

    1 minute read

  • February 25, 2013 |

    Links leads on largest Japanese outbound deal of the year to date

    Linklaters and Dutch firm De Brauw Blackstone Westbroek have taken roles on Japanese financial services group Orix's €1.935bn (£1.69bn) acquisition of asset manager Robeco Group from Rabobank, the largest Japanese outbound deal of the year so far. Under the terms of the deal, Orix is acquiring 90.01% of the shares of Robeco, with the Dutch bank retaining a 9.99% equity stake as part of a strategic alliance between the two groups. Rabobank will continue to work with Orix in expanding Robeco's business platform.

    1 minute read

  • February 21, 2013 |

    As a wave of US mega-mergers boosts M&A hopes, will they inspire confidence in Europe?

    Three weeks into February, a spate of mega-mergers in the US – capped by Warren Buffett's $28bn (£18bn) acquisition of food giant Heinz – has bolstered hopes of resurgence in the regional M&A markets. Figures from mergermarket for the 2012 calendar year show that with a total value of $825.4bn (£535bn), 2012 was the best-performing year for US M&A activity since 2007. And February has raised aspirations for similar performance in 2013, with the month seeing more than $103bn (£66.7bn) in activity across five deals alone.

    1 minute read

  • February 21, 2013 |

    Hong Kong lawyers in demand as global firms fight for Chinese speakers

    International law firms in Hong Kong are ramping up their recruitment of Mandarin speakers in a bid to boost relationships with mainland China clients, creating fierce job competition for foreign lawyers in the region. A Legal Week survey of international firms operating in Hong Kong found every firm responding to the survey bar one had increased the number of Mandarin-speaking lawyers in their Hong Kong offices since 2011. The increase took the average percentage of Mandarin speakers employed by the 16 responding law firms to 60% of their total Hong Kong lawyer count.

    1 minute read

  • February 14, 2013 |

    Davis Polk, Kirkland lead on Warren Buffett's $28bn Heinz acquisition

    Davis Polk & Wardwell and Kirkland & Ellis are among a line-up of US firms scoring roles on the $28bn (£18bn) acquisition of food giant Heinz by an investment consortium. The deal, which is believed to be the biggest ever acquisition in the food industry and has been approved by Heinz's board of directors, will see the Pittsburgh company acquired by Berkshire Hathaway, which is owned by US billionaire Warren Buffett, and 3G Capital.

    1 minute read

  • February 13, 2013 |

    Weil Gotshal and Davis Polk lead on latest multibillion-dollar media deal

    Davis Polk & Wardwell and Weil Gotshal & Manges are both advising on a $16.7bn (£10.7bn) deal that will see General Electric (GE) sell its 49% stake in US media and entertainment giant NBCUniversal (NBCU) to majority shareholder Comcast Corporation. Under the terms of the agreement, US cable operator Comcast will pay NBCU $12bn (£7.7bn) in cash with $4bn (£2.6bn) in Comcast guaranteed debt and $700m (£450m) of preferred stock in acquiring full ownership of the film and television business.

    1 minute read