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  • February 8, 2013 |

    SJB and Olswang among top firms on Warner's £487m Parlophone purchase

    Olswang, SJ Berwin and Jones Day are among the firms landing key roles in the high-profile acquisition of record label Parlophone by Warner Music. The all-cash transaction, valued at £487m, was signed yesterday (7 January). Parlophone, home to the likes of Blur, Pink Floyd and Coldplay, was formerly a part of UK music company EMI. SJ Berwin was instructed by Universal, a unit of French media giant Vivendi, on the Parlophone deal with a team comprising corporate partners Will Holder and Mark Sanders, senior partner Stephen Kon and competition partner Philipp Girardet. Paris corporate partner Etienne Bouriscan led the team advising on France law matters, while Frankfurt corporate partner Michael Cziesla headed up the team providing German law counsel. Universal general counsel Richard Constant said: "This was an extremely complex transaction carried out under close regulatory supervision and Will Holder, Mark Sanders, Stephen Kon and Philipp Girardet at SJ Berwin and their teams were instrumental in delivering an extremely good result for us in a very constrained time frame. Their ability to deliver for their client is, in my view, incomparable." Shearman & Sterling advised Vivendi with a team comprising London M&A partner Jeremy Kutner, New York M&A partner Clare O'Brien, capital markets partner Robert Evans and finance partner Steven Sherman. Olswang acted for Warner Music, backed by parent company Access Industries, with a team led by London corporate partner Stephen Hermer. Jones Day Brussels advised on competition aspects with a team including Europe head of antitrust Bernard Amory. The £1.2bn acquisition of EMI by Universal Music was given the greenlight by the European Commission last September. Clifford Chance (CC) and SJ Berwin partners Kon and Girardet led on the deal. The competition watchdog approved the takeover bid on the condition that Universal sells around 60% of EMI's European assets, one of which was Parlophone. Universal is set to retain more than two thirds of EMI on a global basis, keeping artists such as the Beatles, Beach Boys and Katy Perry. CC advised EMI and owner Citigroup on the deal in a team comprising global corporate head Matthew Layton City, corporate partners Daniel Kossoff and Rob Crothers, and Brussels head and antitrust partner Tony Reeves. In November 2011 SJ Berwin and Clifford Chance were among a raft of firms winning roles on EMI's recording division and publishing business acquisitions, after it emerged that the company, which houses artists including The Beatles, was to be split in two. CC advised EMI and Citigroup on the sale of both its music division and its publishing business along with US firm Shearman & Sterling and Freshfields Bruckhaus Deringer, while Universal and parent company Vivendi instructed SJ Berwin on the sale of its recording arm in a team led by firm managing partner Rob Day and city corporate partner William Holder. Now-defunct US firm Dewey & Leboeuf took the lead in advising a Sony-led consortium on its publishing takeover, acting alongside Cleary Gottlieb Steen & Hamilton, Weil Gotshal & Manges, Allen & Overy, and Baker & McKenzie.

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  • February 7, 2013 |

    US law firms grow City presence by 8% in face of tough market

    US law firms grew their London offices by an average of 8% last year, despite continued depression in the UK and European legal markets. Research by Legal Week into the activities of 47 US firms in London found that partner headcount increased from 1,205 at the start of 2012 to 1,300 by the first day of 2013, with non-lawyer headcount also rising by a similar proportion. The increase in partner numbers comprises internal promotions, relocations and external hires.

    1 minute read

  • February 7, 2013 |

    London partner recruitment by US law firms hits record levels

    The collapse of Dewey & LeBoeuf helped drive partner hiring by US law firms in London to record levels in 2012, with senior lateral recruitment in the City climbing by almost 40% during the last calendar year. Legal Week's annual survey of London partner recruitment trends at some of the leading US law firms found there were 141 lateral partner hires made by the City arms of 47 US law firms last year, compared with 103 across the same firms in 2011.

    1 minute read

  • February 7, 2013 |

    Clydes set for Indonesia association as global players eye emerging market

    Clyde & Co is looking to launch an association with an Indonesian law firm, as opportunities in the Southeast Asian country continue to attract the attention of international players. The UK outfit is currently in the process of finalising an agreement with a local firm it has worked with for some time in Indonesia, and is hoping to announce a partnership in March. The firm's Indonesia practice head Michael Horn would be expected to oversee the venture, and would take space in the local firm's Indonesian offices along with two other colleagues.

    1 minute read

  • February 6, 2013 |

    Herbert Smith adds Allens Singapore partner as exits from Links' Aussie ally continue

    Herbert Smith Freehills has hired Allens partner Rod Howell in Singapore, in one of two recent partner departures from Linklaters' Australia alliance firm. Howell, who joins Herbert Smith along with senior associate Jeremy Chase, has 20 years of experience advising on financings in Asia, Australia, the UK and the US.

    1 minute read

  • February 1, 2013 |

    High-profile Field Fisher IP and tech chief Abell set to join Bird & Bird

    High-profile Field Fisher Waterhouse intellectual property and technology head Mark Abell is leaving the firm to join Bird & Bird. Abell was suspended from Field Fisher's partnership earlier today (1 February) following his announcement that he was resigning from Field Fisher to join another firm. It is not yet known when Abell will join Bird & Bird.

    1 minute read

  • January 31, 2013 |

    Burges Salmon, FFW and magic circle trio named on 48-strong Govt panel

    Allen & Overy, Freshfields Bruckhaus Deringer and Slaughter and May are among a raft of firms to have secured roles on the finalised 48-firm Government Procurement Service panel. The magic circle firms have all been named on the long-awaited roster after firms received final confirmation of their appointments following a ten-day stand still period.

    1 minute read

  • January 27, 2013 |

    The Transfer Window: recent moves including Addleshaws, Links and DLA

    Addleshaw Goddard has turned to Linklaters for the hire of a new private equity partner in London. The firm is taking on Ben Rodham, who is a managing associate at the magic circle firm, where he has worked with clients including Bridgepoint, Carlyle, Hg Capital, Montagu and Terra Firma. He has also spent time Linklaters' Dubai and Hong Kong offices.

    1 minute read

  • January 24, 2013 |

    Jones Day and Withers act as PPR partners up with British designer Christopher Kane

    Jones Day and Withers have won leading roles on the 51% acquisition of British designer label Christopher Kane by French luxury goods group PPR. The transaction, for an undisclosed sum, sees PPR – the parent company of Gucci and Yves Saint Laurent – enter into a partnership with Kane (pictured) to grow the brand.

    1 minute read

  • January 10, 2013 |

    Shell advisers in focus as global panel review gets underway

    Royal Dutch Shell has kicked off a review of its global legal panel, in a move that will lead to the company's first overhaul of its primary legal advisers since 2010. General counsel Peter Rees QC confirmed that the energy and petrochemical giant had begun the process of reviewing its preferred advisers, with the new panel expected to be complete by the end of the first quarter of 2013.

    1 minute read