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You could be forgiven for thinking Africa and private equity an odd pair. Leveraged buyouts, price tension and dual-track exits don't appear to go hand-in-hand with frontier markets.

Dogan Eymirlioglu and Ceyda Aydin of Ersoy Bilgehan examine a number of recent changes to Turkey’s laws which will impact foreign investors

On June 28 2012 the Court of Justice of the European Union, requested by the German Federal Court of Justice, ruled on the definition of inside information

Patrick McGurn Shareholder rights plans are often understood as anything but. By giving shareholders the opportunity to dilute a potential owner's stake in a company, they have effectively deterred any and all hostile acquisitions of companies that have adopted them.

Phillip Fletcher Following the 1980s debt crisis, the IMF and World Bank endorsed the Brady Plan, which called for debt reduction by way of risk-compensated forgiveness. Debtor countries' loans were restructured into a menu of publicly-traded US dollar-denominated Brady Bonds collateralised with US Treasury securities. The first Brady Bond, completed in 1990 for Mexico, became the archetype for the other Brady deals that followed over the next seven years.

Daniel Goelzer The Public Company Accounting Oversight Board (PCAOB) sprang into existence with a clear mandate. The Enron debacle had so tarnished the profession's reputation that independent oversight was crucial to restoring a respected auditing profession. But the PCAOB did not just have a moral mandate. It had a strong legal one too, with a unanimous vote for Sarbanes-Oxley in the Senate and only a couple of dissenting voices in the House of Representatives.

Infrastructure is one of the main areas related to the project finance market which the Costa Rican government is developing. Recent projects include the San José-Caldera road concession, the investment management contract for airport services at Juan Santamaria International Airport, the concession for the new passenger terminal building at Liberia International Airport, and the concession for the construction of a grain wharf at the Port of Caldera, with total investments in excess of $450 million.

The Securities and Exchange Board of India (Sebi), the Indian capital markets regulator, has recently amended the Sebi (Issue of Capital and Disclosure Requirements) Regulations, 2009. The stated purpose of some of these amendments is to introduce so-called reformatory measures to revive the primary capital markets in India. These measures, according to the minutes of the Sebi's board meeting, are to encourage enhanced retail investors' participation, impose a higher standard of accountability on companies and intermediaries, and ensure greater transparency in the initial public offering (IPO) process.

Following the implementation in Italy of Directive EU/7/2011 of the European Parliament and the European Council of February 16 2011, the Italian government has recently approved a legislative decree which introduces substantial changes to Legislative Decree No. 231/2002 relating to late payments in commercial transactions.

Nicholas Chang Gerald Cheong The Singapore Exchange (SGX) has proposed some significant initiatives to the offer structure relating to initial public offerings (IPOs). In Singapore, the offer structure for an IPO normally comprises a placement tranche and a public subscription tranche. For Mainboard IPOs, the SGX listing rules specify that the shareholding spread and distribution requirement for companies with market capitalisation below S$300 million ($244.9 million) must have a public float of at least 25% to be held by at least 500 shareholders. This number of shareholders includes shareholders from both the public subscription tranche and the placement tranche. This rule provides assurance of fair and orderly trading of shares when listed. There is, however, no requirement for Mainboard listing applications to allocate a minimum proportion of shares to the public subscription tranche as a method of offering.