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Skadden Arps Slate Meagher & Flom is advising the sponsors of a liquefied natural gas project in Peru. The so-called Peru LNG Project will receive more than $2 billion in construction finance loans. Skadden is representing the sponsors, a consortium comprising Hunt Oil Company, Repsol YPF, SK Energy and Marubeni. This is the largest direct foreign investment in Peru, and the country's largest private-sector project.

DLA Piper's Moscow office has hired finance lawyer Vyacheslav Khorovskiy from Allen & Overy. Khorovskiy joins DLA Piper as a partner in its Finance & Projects group. He has previously served as a counsel in Allen & Overy's banking department, and as head of Lovells' Russian banking practice.

Garrigues has merged with Romanian firm Mares & Asociatii to become the first Iberian firm in Bucharest.

In a move that could drive the derivatives industry abroad, the Financial Services Authority is planning indiscriminate regulation that will require holders of contracts for difference to disclose their positions

TozziniFreire Advogados is advising Femsa Group on its takeover of the Brazilian operations of a Coca-Cola bottler. Femsa will pay R$488 million ($305 million) to acquire the manufacturing and distribution facilities of Refrigerantes Minas Gerais from the Coca-Cola Group. This is part of Femsa's broader strategy to expand the company across the region.

Paul Hastings Janofsky & Walker has advised the Republic of Croatia on a public-private refinancing.

Three southeast Asian law firms have banded together to establish the first joint-venture law firm to be licensed in Vietnam. Allen & Gledhill (Singapore), Zaid Ibrahim & Co (Malaysia) and LCT Lawyers (Vietnam) have joined to form AGZI LCT.

CMS Reich Rohrwig Hainz, Schoenherr, Walder Wyss & Partners and Lenz & Staehelin have advised on a $480 million syndicated loan to Austrian lighting producer Zumtobel. Austrian firm Schoenherr advised Raiffeisen Zentralbank Österreich and Erste Bank (a subsidiary of Austrian bank Sparkassen) on the loan, which is one of the largest syndicated-loan facilities documented under a Loan Market Association (LMA)-compliant agreement under Austrian law. Patrick Huenerwadel and Marcel Tranchet of Swiss firm Lenz & Staehelin advised the banks on Swiss law.

On May 28 2008, Luxembourg Parliament approved the Convention on International Interests In Mobile Equipment, as well as its Aircraft Protocol, signed in Cape Town on November 16 2001. Thus Luxembourg became the second European country (after Ireland) to adopt this legal framework, designed to facilitate asset-based finance and leasing of aircraft, engines and helicopters.

Declining stock prices and liberalised takeover rules encourage public-to-private transactions in Finland, say Jan Ollila and Anders Carlberg of Dittmar & Indrenius