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  • May 19, 2009 |

    CC, Cleary act on $7.3bn Bank of America sell-off

    Clifford Chance (CC) and Cleary Gottlieb Steen & Hamilton have taken lead roles on Bank of America's $7.3bn (£4.7bn) sale of a 16% stake in China Construction Bank (CCB), reports The Am Law Daily. Under pressure from regulators to raise capital, many US banks are now looking for cash, and BoA announced last week that it would sell its 3.5 billion shares of CCB as part of a plan to raise nearly $35bn (£23bn) in capital.Under the terms of the agreement, BoA's CCB stake will be sold to a group of investors that includes China Life Insurance, Chinese private equity firm Hopu Investment Management and Singapore's sovereign wealth fund Temasek Holdings.

    1 minute read

  • May 14, 2009 |

    A&O hit by Italy walkout as 17 join Gianni

    Allen & Overy's (A&O's) Italian practice has suffered a mass walkout, with more than 20 lawyers quitting last month in moves unrelated to the firm's redundancy programme. Rome corporate partner Lorenzo Parola has become the third partner to quit A&O's Italian practice in a month, leaving to join Dewey & LeBoeuf at the end of April along with a team of at least two associates.

    1 minute read

  • May 13, 2009 |

    The Am Law 100: Losing their balance

    What has the world come to when Cravath Swaine & Moore has a terrible year? The firm that has served for decades as the touchstone for prestige in the profession last year suffered a 13% drop in revenue and a 24% plunge in profits per equity partner (PEP), and has asked incoming first-year associates to delay their start dates.

    1 minute read

  • May 12, 2009 |

    Steps to career heaven

    Becoming a solicitor is a long, hard slog of essays and exams. Legal Week Student takes you through the steps you have to climb to get there

    1 minute read

  • May 7, 2009 |

    Links, Herbert Smith vie for RenCap panel spots

    Russian investment bank Renaissance Capital (RenCap) is in the process of drawing up its first formal panel of legal advisers, with Linklaters and Herbert Smith the main UK contenders for the roster.RenCap's London-based global general counsel, Steven Wootton, is responsible for setting up the panel, which is expected to be finalised within the next few months.

    1 minute read

  • April 30, 2009 |

    Cuts sweep turbulent Moscow market as six international firms wield axe

    A raft of international firms have made redundancies in Moscow as the continued economic downturn in the region pushes both law firms and clients to slash costs. Allen & Overy (A&O), Simmons & Simmons, White & Case and Denton Wilde Sapte have followed Clifford Chance (CC) and Baker & McKenzie in making redundancies in Russia.

    1 minute read

  • April 20, 2009 |

    Cleary takes top role on $3.6bn GSK buyout

    Cleary Gottlieb Steen & Hamilton has advised GlaxoSmithKline (GSK) on a $3.6bn (£2.5bn) buyout as the pharma giant completes its second major deal in a week. The firm acted for regular client GSK on its acquisition of dermatology specialist Stiefel Laboratories in a deal announced today (20 April).Cleary's New York-based team was led by corporate partner Benet O'Reilly, alongside tax partner Sheldon Alster, employee benefits partner Arthur Kohn, real estate partner Kimberly Brown Blacklow and antitrust partner David Gelfand.

    1 minute read

  • April 8, 2009 | International Edition

    Generation why?

    When it comes to law firm prestige there is no denying that the magic circle tag still works its, well, magic. And there are few other groups that buy into the brand power of these five firms more so than the student population.Given free choice to name five law firms they would rate highly, students consistently turned to the magic circle group, viewing them as offering the best career options, work-life balance, partnership prospects and training - not to mention prestige - of all law firms.

    1 minute read

  • April 8, 2009 |

    Generation why?

    When it comes to law firm prestige there is no denying that the magic circle tag still works its, well, magic. And there are few other groups that buy into the brand power of these five firms more so than the student population.Given free choice to name five law firms they would rate highly, students consistently turned to the magic circle group, viewing them as offering the best career options, work-life balance, partnership prospects and training - not to mention prestige - of all law firms.

    1 minute read

  • April 8, 2009 |

    Cleary and Dewey lead on $4.2bn Russian deal

    Cleary Gottlieb Steen & Hamilton and Dewey & LeBoeuf have taken lead roles on the biggest deal to close in Moscow so far this year - a $4.2bn (£2.9bn) Gazprom purchase. The deal saw Cleary advising Gazprom on its purchase of a 20% stake in its oil unit Gazprom Neft (formerly Sibneft) from Italian utility Eni. Moscow corporate finance partner Russell Pollack led the team for Cleary. Eni turned to Dewey, which fielded a team led by corporate partners Dan Coppel in London and Jon Hines in Moscow.

    1 minute read