Dealwatch: Lathams, Linklaters and HSF lead on $700m Dealogic sale
Lathams & Watkins, Linklaters and Herbert Smith Freehills have all won roles advising on The Carlyle Group and Euromoney Institutional Investor’s acquisition of Dealogic.
Continue reading “Dealwatch: Lathams, Linklaters and HSF lead on $700m Dealogic sale”
A symbolic blow as Debevoise hires HSF’s Asia head as senior partner race down to Palmer vs Crean
Given the huge strategic weight being placed on the Asia network of Herbert Smith Freehills (HSF), the jewel in the international crown of the legacy City firm, the latest senior resignation to hit HSF will go down poorly.
The Friday Edit: Glory days for HSF obsessives and Baker Mac to phase out last legacy of franchise pay
Somehow the week has flown by so it’s already time to welcome readers to The Friday Edit, our informal take on the notable legal events that happened since Monday. For subscriber content, click here for full access to Legal Business or email ‘mark.proudley@legalease.co.uk’ for more information.
‘Privilege is now seen as a fundamental human right’: British intelligence agencies face spying on lawyers allegations
The Investigatory Powers Tribunal (IPT) has heard that legal privileged documents between lawyers and their clients may have been targeted by MI5, MI6 and GCHQ, a disclosure which is said to be of ‘grave concern to campaigners and lawyers alike’.
Cutting the roster: After major acquisitions, Cofely set to create first legal panel
Cofely, a subsidiary of French energy giant GDF Suez, is to establish its first legal panel in a bid to reduce legal fees and the number of firms it deals with.
Streamlining: Dentons loses second global real estate co-head this year, with Winckworth Sherwood bolstering its team
LB 100 firm Winckworth Sherwood has bolstered its real estate team with the hire of Dentons’ global co-head of real estate Andrew Bedford, a departure which comes just months after Dentons lost fellow global real estate co-head Eric Rosedale to US firm Greenberg Traurig.
Third party funding: Therium steps in to bankroll Lloyds group action
In what constitutes the latest major bailed-out bank facing a shareholder dispute, third party financier Therium Capital Management is understood to be bankrolling the high profile claim by shareholders against Lloyds with the cost of funding the case thought to be as high as £12m so far.
Continue reading “Third party funding: Therium steps in to bankroll Lloyds group action”
Comment: The cost of culture – HSF finds mega-mergers always come at a price
This month’s cover feature on Herbert Smith Freehills (HSF) looks in hindsight like the end of an informal trilogy on storied London firms agreeing high-stakes mergers, following earlier pieces on Hogan Lovells and Ashurst.
Continue reading “Comment: The cost of culture – HSF finds mega-mergers always come at a price”
Nearshoring: Hogan Lovells hires ten-strong associate team and acquires new office space for Birmingham venture
Having confirmed in early spring the launch of a new cost-efficient legal services centre in Birmingham, Hogan Lovells has hired a ten-strong associate team across multiple practice areas and from national firms, including Pinsent Masons, Clarke Willmott and Shoosmiths, to spearhead the venture as well as acquiring new office space within Birmingham’s central business district.
Dealwatch: Freshfields, Taylor Wessing and Linklaters advise on Jaffa Cake manufacturer United Biscuits sale
Freshfields Bruckhaus Deringer, Taylor Wessing and Linklaters have won the lead roles advising on the sale of UK-based United Biscuits to Turkey’s largest food and beverage company Yildiz Holding (Yildiz).
News in Brief – November 2014
PWC LEGAL LOOKS FOR REGIONAL GROWTH
Addleshaw Goddard and DLA Piper veteran Neal Shepherd was recruited by PwC Legal to head a regional push out of its Manchester office. The accountancy giant is targeting the north of England, with Shepherd focusing on mid-market M&A and expanding the team into PwC business areas, including employment and pensions.
Baker & McKenzie overhauls pay structure in Europe and Asia
Larger regional pools to replace national pay by year end.
The world’s largest law firm, Baker & McKenzie, is set to overhaul its longstanding remuneration system in Europe and Asia, with a large percentage of pay set to be decided by the success of each region.
Continue reading “Baker & McKenzie overhauls pay structure in Europe and Asia”
Linklaters, Freshfields and Travers Smith fix RAC deal with Singapore’s GIC
Carlyle abandons flotation to sell half of its majority stake
Since the summer, London’s IPO market has seen postponements, cancellations and low pricings as confidence ebbed. Feeling the effects, US private equity giant Carlyle, advised by Linklaters corporate partners Charlie Jacobs and Alex Woodward, recently abandoned plans to exit roadside recovery service company RAC through a flotation, in favour of a sale to Singapore’s sovereign wealth fund GIC.
Continue reading “Linklaters, Freshfields and Travers Smith fix RAC deal with Singapore’s GIC”
Top firms help Heathrow’s £1bn airport sale take off
Last month, Allen & Overy (A&O), Hogan Lovells and Freshfields Bruckhaus Deringer led on Heathrow Airport Holdings’ final airport disposal as Aberdeen, Glasgow and Southampton airports were sold to a consortium formed by Ferrovial and Macquarie for £1.05bn.
Heathrow Airport Holdings (formerly BAA) agreed to sell its 100% stake in all three airports, though the deal is still subject to EU approval. Closing is expected before the end of January 2015, with the consideration expected to increase to compensate Heathrow for the delay.
Continue reading “Top firms help Heathrow’s £1bn airport sale take off”
Allen & Overy becomes the first Magic Circle firm to set up in South Africa
Firm opens Johannesburg office after hire of Bowman Gilfillan finance team
Allen & Overy (A&O) finally put its stamp on South Africa with the launch of office number 45 in Johannesburg last month. The move sees A&O become the first Magic Circle firm to establish a presence on the ground, with the hire of a banking and finance team from local firm Bowman Gilfillan.
Continue reading “Allen & Overy becomes the first Magic Circle firm to set up in South Africa”
Guest post: The West Lothian Question – a few thoughts
The so-called West Lothian question is a political and not legal question. It was asked as long ago as 1977 by Tam Dalyell MP who represented West Lothian from 1962 to 1983 and Linlithgow from 1983 to 2005. The question asks whether MPs from Northern Ireland, Scotland and Wales, sitting in the House of Commons of the United Kingdom, should be able to vote on matters that affect only England.
Continue reading “Guest post: The West Lothian Question – a few thoughts”
Partner promotions: 20% of Ropes & Gray new partners in London while McDermott adds three
Ropes & Gray and McDermott Will & Emery are the most recent US firms to announce their partner promotions, with Ropes making up four in the City out of 20 worldwide, while McDermott is promoting three in London out of a total of 33.
‘We will continue to review and innovate in this area’: Baker & McKenzie overhauls pay structure in Europe and Asia
The world’s largest law firm, Baker & McKenzie, is set to overhaul its longstanding remuneration system in Europe and Asia, with a large percentage of pay set to be decided by the success of each region.
‘Taking its time to reflect on the next phase’: Kennedys CEO steps down without a successor in place
Kennedys chief executive officer Guy Stobart has announced he will stand down at the end of 2014 after five years of leading the firm.