Magazine - November 1999

In publication since 1982, IFLR has become the trusted source for in-house counsel and law firms specialising in financial law.

Cover Story

Features

News analysis

  • News-Rogers & Wells' Paris office defects to New York rival

    Following reports of discontent at the decision to merge with Clifford Chance, the Paris office of Rogers & Wells has agreed to become the first overseas office for New York's Kramer Levin Naftalis & Frankel LLP.

  • Best friends Heneler, Davis Polk and Slaughters get serious

    In early October at the International Bar Association meeting in Barcelona, Hannes Schneider of German firm Hengeler Müller Weitzel Wirtz outlined the strategy he called the integrated team concept. Schneider defines the strategy, which unites Hengeler, US firm Davis Polk & Wardwell and the UK's Slaughter and May, as a direct alternative to the alliances and cross-border mergers between law firms. This is the first time that Hengeler has taken the opportunity to explain the strategy in detail and to market it to such a wide audience. Although the existence of a special relationship has been known for some time, the details can now be revealed.

  • In brief

    Dragsted Schlüter Helmer Nielsen, the largest law firm in Denmark, has announced that it is merging with fellow Danish firm Aros Advokater. The combined firm will have more than 160 lawyers, including 55 partners. The new firm will be called Dragsted Schlüter Aros Law Firm

  • UK and US firms share top places in international growth rankings

    Clifford Chance, Cameron McKenna, Dorsey & Whitney, Latham & Watkins, White & Case and Linklaters are the top six law firms for overall growth in the world, according to statistics in this year's IFLR 1000 Directory

  • Denton Hall and Wilde Sapte agree merger

    UK law firms Wilde Sapte and Denton Hall announced on October 12 that the partnerships of both firms had voted to combine the two firms. The merger will create a new firm with around 1,500 staff. It will be the seventh largest in the UK, with just under 500 lawyers in the jurisdiction. The merged entity will be called Denton Wilde Sapte.

  • Eurocredit collateralized debt obligation

    The London office of Weil, Gotshal & Manges this month finished working with Morgan Stanley Dean Witter on the structuring of the Eurocredit collateralized debt obligation. The offering, worth euro416.5 million ($439.7 million) is the first wholly European take on a US-originated financing. Lead partner Erica Handling explains the deal

  • Clifford Chance advises on airline

    Clifford Chance has advised Deutsche Bank on the first securitization of receivables from a single airline lessee in Europe — a euro 195 million ($210 million) deal for Iberia. The transaction applies a well-developed US structure in Europe for the first time, creating a product that could radically change air finance in the region. It allows single airlines to raise money through securitization as an alternative to the conventional bank-loan and leasing markets, which are increasingly expensive and becoming less liquid.

  • Baker & McKenzie advises on telecoms sale

    Baker & McKenzie is advising on the most recent privatization in Eastern Europe. In mid-October, the government of Croatia sold a 35% stake in its telecoms operator, Hrvatske Telekomunikacije, to Deutsche Telekom for $850 million. The sale to Deutsche Telekom followed a successful bidding competition with a consortium comprising Telia and Telenor.

  • Argentaria to merge

    Two of Spain's largest banks have announced a stock swap merger creating the second largest bank in the eurozone with a market value of euro 38 billion ($41 billion).

  • Epcos euro IPO

    Matsushita of Japan and Siemens of Germany launched the IPO of an approximately 75% stake in their joint venture, Epcos, on October 15. The offering is a dual listing on the New York and Frankfurt stock exchanges. It raised approximately euro 1.3 billion ($1.4 billion), making it one of the largest IPOs on the Frankfurt stock market. Epcos is one of Europe's largest manufacturers of passive electronic components.

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