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  • May 22, 2013 |

    Bonelli names new joint managing partners in top-level overhaul

    Bonelli Erede Pappalardo has appointed a new management team as part of a wider governance overhaul which has seen the top Italian law firm split its managing partner role into two. Head of international tax Stefano Simontacchi and employment specialist Marcello Giustiniani were voted as the firm's new managing partners at a partnership meeting last weekend, succeeding outgoing firm president Alberto Saravalle with immediate effect.

    1 minute read

  • May 19, 2013 |

    Ashurst, Slaughters lead on Ocado's online retail tie-up with Morrisons

    Ashurst, Slaughter and May and Hogan Lovells have advised on a deal which will see supermarket chain Morrisons launch an online grocery service with Ocado next year. Ashurst took the lead role for Morrisons on the deal, which includes a sale and leaseback of equipment at internet grocer Ocado's recently opened Dordon distribution centre in Warwickshire.

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  • May 17, 2013 |

    A&O opts for no change in associate pay as bands remain at 2012 levels

    Allen & Overy (A&O) has confirmed it is holding 2013-14 associate salaries at last year's levels, becoming the fourth magic circle firm to unveil junior pay details for the year ahead. While associates will continue to move through the annual pay bands, newly-qualified lawyers' salaries will remain at £61,500, with first-year post-qualification (PQE) pay also static at £68,500.

    1 minute read

  • May 16, 2013 |

    Links and Addleshaws advise on £335m Liverpool hospital PPP

    Linklaters and Addleshaw Goddard have landed roles on a £335m public private partnership (PPP) initiative to build a new hospital in Liverpool. The Royal Liverpool and Broadgreen University Hospitals Trust has selected Carillion as the preferred bidder, with construction to start next year on what is set to be the largest hospital in the country. Linklaters is advising Carillion and equity investors Lloyds Banking Group with a team led by head of global project finance Bruce White. The magic circle firm is one of several firms on the construction giant's legal panel, which also includes Slaughter and May and DLA Piper.

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  • May 16, 2013 |

    Host of US and UK firms advise as Thomas Cook sets out £1.6bn refinancing

    Slaughter and May, Linklaters and Allen & Overy (A&O) are among a host of firms to have landed roles on travel agent Thomas Cook's £1.6bn capital refinancing plan. The refinancing, which includes a £425m share placing and rights issue, £441m of new bonds issues and £691m of new lending facilities, is intended to reduce the travel company's £800m debt pile while strengthening its capital base.

    1 minute read

  • May 14, 2013 |

    Green Investment Bank names Pinsents partner as GC

    The UK Green Investment Bank (GIB) has hired Pinsent Masons energy finance partner Euan McVicar as its first formal general counsel. Edinburgh-based McVicar, who will join the Government-backed bank in late summer, specialises in the financing and development of energy projects at Pinsents, as well as related M&A activity.

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  • May 10, 2013 |

    Freshfields holds associate and trainee pay bands at 2012 rates

    Freshfields Bruckhaus Deringer has announced details of its 2013 associate salaries - holding rates at 2012 levels as the magic circle firm becomes the third to reveal junior lawyer pay this year. Despite the rates remaining broadly the same as last year, junior lawyers at Freshfields will still be able to take home the same or more than their magic circle peers. Trainee salaries remain at £39,000 for first year recruits and £44,000 for those in their second year, marking the fifth year they have stuck at this rate. Meanwhile, the foundation stage in the magic circle firm's 'milestone' pay bands - which were introduced last year and replace the previous system of pay based on number of years of post-qualification experience (PQE) - remains in the range of £65,000 to £72,500. This band is largely equivalent to newly-qualified (NQ) and one year PQE lawyers.

    1 minute read

  • May 9, 2013 |

    Links leads as Unilever ups stake in Indian subsidiary

    Linklaters has won a key role for Unilever on a $5.4bn (£4.5bn) deal to increase its stake in Hindustan Unilever, the publicly listed Indian subsidiary of the consumer goods giant. The purchase, announced last week, saw Unilever's interest in the Indian business rise from 52.48% to 75%, at a price of INR600 (£7.15) per share. The deal is the largest single investment in the Indian consumer goods sector. "This represents a further step in Unilever's strategy to invest in emerging markets and offers a liquidity opportunity at what we believe to be an attractive premium for existing shareholders," said Unilever CEO Paul Polman.

    1 minute read

  • May 7, 2013 |

    Linklaters hikes NQ pay by £2,500 as firm unveils 2013-14 salaries

    Linklaters has announced across-the-board increases in its junior salary bands, with newly-qualified (NQ) associates seeing the biggest pay rise with an extra £2,500 on last year. The firm confirmed its new pay bands today (7 May), becoming the second magic circle firm to unveil 2013-14 associate salaries after Slaughter and May last week.

    1 minute read

  • May 2, 2013 |

    Aviva kicks off tender for new panels; magic circle duo take top-level roles

    Aviva has launched a major review of its external legal advisers that will see the insurance giant create its first group global and UK legal panels. Aviva's overall head of legal and company secretary Kirsty Cooper (pictured) and Aviva group general counsel Monica Risam are leading the review, with around 25 firms invited to pitch for places when tender documents were sent out three weeks ago.

    1 minute read