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  • November 29, 2010 |

    US firms win lead roles as Del Monte says yes to $5.3bn leveraged buyout

    Gibson Dunn & Crutcher and Simpson Thacher & Bartlett have won lead roles on the $5.3bn (£3.4bn) leveraged buyout (LBO) of Del Monte Foods, reports The Am Law Daily. An investor group led by Kohlberg Kravis Roberts & Co (KKR), Capital Partners and Centerview Partners will pay $19 (£12) per share of Del Monte in cash. The deal - 2010's biggest LBO to date - also includes the assumption of about $1.3bn (£833m) in debt.

    1 minute read

  • November 24, 2010 |

    Simpson Thacher and Weil Gotshal promote seven partners apiece

    Simpson Thacher & Bartlett and Weil Gotshal & Manges have announced the results of their global promotions rounds, with just one City lawyer made up among 14 partner promotions at the two firms. Simpson Thacher's appointments, which will take effect as of 1 January next year, include six in the US firm's New York HQ, alongside one City promotion in its London corporate department.

    1 minute read

  • November 22, 2010 |

    Davis Polk hires second magic circle Beijing chief for Hong Kong office

    Davis Polk & Wardwell has recruited Linklaters' Beijing head for its burgeoning Hong Kong law practice, marking the US firm's second recent senior magic circle hire, reports The Am Law Daily. The New York-based firm has announced that Paul Chow is set join its Hong Kong office next May, following the hire of Freshfields Bruckhaus Deringer's Beijing chief Antony Dapiran. Chow is expected to continue to work on client matters until his departure. Davis Polk has generally been regarded as conservative when it comes to recruiting lateral partners, but the US firm has moved aggressively to assemble a Hong Kong law group in recent months.

    1 minute read

  • November 19, 2010 |

    Cleary unveils plans to launch in Brazil

    Cleary Gottlieb Steen & Hamilton is set to launch in Sao Paulo next year as the US leader moves to reinforce its highly-rated Latin American practice. The firm is planning to relocate New York capital markets partner Juan Giraldez and Rome corporate finance partner Francisco Cestero to head up the Brazilian branch. The office will comprise 10 US-qualified lawyers initially covering international finance, cross-border M&A, regulatory issues and litigation. The launch, which is subject to regulatory approval, is set for 2011.

    1 minute read

  • November 11, 2010 |

    Dealmaker: Dean Poster

    Mishcon de Reya corporate partner Dean Poster on his loveable banking contacts and why no-one likes a smart arse...

    1 minute read

  • November 9, 2010 |

    Private equity firm names advisers on first-ever Africa panel

    Private equity house Actis has finalised its first-ever Africa panel, with magic circle firm Clifford Chance (CC) and City firm Hogan Lovells both securing an appointment. The firms were appointed in October following a competitive tender process led by Actis' London-based general counsel, Paul Owers.

    1 minute read

  • November 5, 2010 |

    CC agrees New Year start date for Glover at Simpson Thacher

    High-profile Clifford Chance (CC) partner Jason Glover is set to join Simpson Thacher & Bartlett in the New Year after months of negotiations over his exit from the magic circle firm. The news emerges four months after it was announced that Simpson Thacher had hired the CC partner to launch a funds practice in the US firm's City office.

    1 minute read

  • October 13, 2010 |

    Leading firms vie for roles on first post-Lehman BarCap US roster

    Barclays Capital has kicked off a review of its legal advisers in the US, marking the first time the group has overhauled its panel since its acquisition of Lehman Brothers' US investment banking operations. The review, which is being led out of New York by Americas general counsel Michael Crowl, is believed to be part of a bid to reduce the number of external counsel after the bank's $1.75bn (£950m) acquisition of Lehman Brothers' North American investment banking and capital markets business in 2008.

    1 minute read

  • October 12, 2010 |

    Weil Gotshal leads as $3.9bn PE sale ends record hotel group bankruptcy

    A raft of US firms have taken roles on the bankruptcy of Extended Stay Hotels, the largest Chapter 11 case ever filed by a US hotel owner, reports The Am Law Daily. The hotel chain operator, which operates 700 hotels throughout the US and Canada, was sold to a private equity consortium last Friday (8 October) in a $3.9bn (£2.5bn) deal after filing for bankruptcy in New York in June 2009.

    1 minute read

  • October 1, 2010 |

    US trio reprise roles as AIG confirms bailout repayment plan

    Davis Polk & Wardwell, Sullivan & Cromwell and Simpson Thacher & Bartlett have taken roles as AIG finalises plans to repay the US government, reports The Am Law Daily. The three law firms, which played leading roles crafting the first of many AIG bailout provisions were on hand again, two years later, when the government and the limping insurer finally worked out a complex plan to sever ties, according to lawyers who worked on the deal.

    1 minute read