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Allen & Overy has appointed Stephen Kensell and Andrew Trahair as joint heads of its banking practice.

Skadden Arps Slate Meagher & Flom is advising Citigroup on its plans to raise $4.5 billion capital. Cleary Gottlieb Steen & Hamilton is representing the underwriter, Citigroup Global Markets.

Allen & Overy has advised Deutsche Bank and other lenders on a secured $3.45 billion loan facility. Deutsche Bank originally arranged a $2 billion facility for Russian state oil company Rosneft. After a successful syndicate was put together, the facility was increased by $1.45 billion.

Despite stormy conditions worldwide, Turkish M&A continues to experience smooth sailing. Zeynep Ergun Özeren and Oya Ugur of YükselKarkinKüçük look to the future

Does your contract spell out valuations?

Kathleen Ng of Asia Private Equity Research explains how to get into China

Debt and equity-linked team Bruce Czachor of Shearman & Sterling, with IFLR's Simon Crompton In 2007, Shearman & Sterling completed over 300 debt and equity-linked transactions across its 20 offices. The firm acted on two of the deals shortlisted, the Abu Dhabi/ Citigroup deal and the Intergen high yield offering.

The transfer-pricing concept, which replaced the outdated disguised earnings provisions, was first introduced to Turkish legislation together with the new Corporate Income Tax (CIT) Law in July 2006. A popular discussion among tax professionals last year was the last-minute amendment to the CIT Law that led to no-transfer-pricing or disguised-earnings provisions, and remained in effect for the fiscal year 2006. According to the transfer-pricing provisions of the CIT Law, transfer-pricing rules were to be in effect from January 1 2007. In order to determine the implementation principles, the Law bestowed authority upon the Council of Ministers.

On March 28 2008, the Fair Trade Commission (FTC) announced its plan to relax corporate regulation laws. To implement the plan, the FTC will submit an amendment to the Monopoly Regulation and Fair Trade Act for parliament to pass during the first half of this year. Some of the key aspects of the FTC's plan are highlighted below.

The US Treasury's blueprint for regulatory reform was released last month, and the legal community, while agreeing with many of the proposals, calls for more to be done.