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  • January 3, 2013 |

    Kirkland, Latham lead on $500m Avis purchase of car-sharing firm Zipcar

    Kirkland & Ellis and Latham & Watkins have taken lead roles on vehicle rental chain Avis Budget Group's $500m (£307m) acquisition of Zipcar, the world's biggest car-sharing firm. The deal will see Avis acquire Zipcar for $12.25 (£7.50) per share in cash. the company, which listed on NASDAQ in April 2011, acquired UK rival Streetcar for $50m (£32m) in 2010.

    1 minute read

  • December 19, 2012 |

    Gibson Dunn advises as UBS reaches £945m Libor settlement

    Gibson Dunn & Crutcher has advised UBS on its (£945m) settlement with US and UK authorities over allegations that the Swiss bank tried to manipulate Libor interest rates. UBS announced today (19 December) that it was settling with the US Department of Justice (DoJ) and the Commodity Futures Trading Commission (CFTC), the Financial Services Authority (FSA) in the UK, and the Swiss Financial Market Supervisory Authority (FINMA), over the regulators' investigations into manipulation of the Libor interbank lending rates.

    1 minute read

  • December 14, 2012 |

    CC picks up role advising Autonomy founder against HP claims

    Clifford Chance is advising Autonomy founder Mike Lynch against allegations of financial impropriety and misrepresentation made by Hewlett Packard (HP), which acquired Lynch's software company last year for $11bn (£6.8bn). The magic circle firm also confirmed it is advising other former members of Autonomy's management. HP made the allegations in a press statement on 20 November, as it announced an $8.8bn (£5.5bn) write-down related to Autonomy in the fourth quarter of its 2012 fiscal year.

    1 minute read

  • December 10, 2012 |

    Cleary, CC and Links act on €10bn Greece bond buyback scheme

    Cleary Gottlieb Steen & Hamilton, Clifford Chance (CC) and Linklaters have all taken advisory roles on Greece's €10bn (£8.1bn) bond buyback scheme. The country last week announced plans to buy its debt at a steep discount, as part of conditions the state must fulfil before receiving its next round of financial aid, which require Greece to cut its debt to 124% of GDP by 2020.

    1 minute read

  • December 6, 2012 |

    Herbert Smith Freehills and Latham win roles on Lonmin's $817m rights issue

    Herbert Smith Freehills and Latham & Watkins have landed roles on crisis-hit platinum miner Lonmin's $817m (£509m) rights issue and renegotiation of its existing debt facilities. Proceeds raised from the issue on the London and Johannesburg stock exchanges will be used to repay Lonmin's existing debt and trigger amendments to its debt facilities.

    1 minute read

  • November 29, 2012 |

    EDF set to appoint panel firms for new two-year term after roster review

    A host of firms are poised to be appointed to EDF Energy's new UK legal panel as the energy giant finalises a review of its roster of external advisers. Herbert Smith Freehills, Eversheds, Squire Sanders and TLT are among those expected to be reappointed to the line-up, with Baker & McKenzie winning a first-time appointment to the roster. Final terms and panel structure will be agreed in the coming weeks.

    1 minute read

  • November 29, 2012 |

    Magic circle trio act on IPO of Kazakhstan's largest mobile operator

    Freshfields Bruckhaus Deringer, Clifford Chance (CC), Linklaters and SNR Denton are among a line-up of law firms advising on the joint Almaty and London initial public offering (IPO) of Kcell, Kazakhstan's largest mobile phone operator by market share. The listing, which could raise up to £500m, is part of an agreement by majority shareholder TeliaSonera to sell around a quarter of the company, following its acquisition of Kcell shares from fixed-line operator Kazakhtelecom.

    1 minute read

  • November 29, 2012 |

    Dealmaker: Jim Wickenden

    A&O's US corporate partner on carrying Dan Cunningham's bag and wandering attention

    1 minute read

  • November 29, 2012 |

    Law firms vote for prestige over value as lure of central Hong Kong withstands soaring office costs

    Office space in Hong Kong's central business district (CBD) may be more expensive than anywhere else in the world, but leading global law firms have little intention of following the lead of other professional services businesses and moving into cheaper areas. Proximity to banks and other clients, combined with competition for mandates and partners, means property analysts predict firms will stay put despite cutting costs in other areas. The predictions come despite a report by real estate consultancy CB Richards Ellis (CBRE) finding that annual occupancy costs in central Hong Kong stand at $248.83 (£155.38) per sq ft – higher than any other market.

    1 minute read

  • November 29, 2012 |

    CC, Freshfields and White & Case join fray on $1.7bn Megafon IPO

    Clifford Chance (CC), Freshfields Bruckhaus Deringer and White & Case are among a raft of firms to have advised on Russia telecoms firm Megafon's $1.7bn (£1.1bn) initial public offering (IPO) in London and Moscow. The IPO, which placed yesterday (28 November), followed Megafon's sale of a 15% stake, valuing the company at $11.1bn (£7bn). Megafon is majority controlled by AF Telecom - the holding company of Russian businessman Alisher Usmanov.

    1 minute read