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How Linklaters has gained from more innovative convertibles

On January 1 2007, the Euro will become the official monetary currency of Slovenia and the Bank of Slovenia will become part of the Eurosystem, consisting of the ECB and the national central banks of the EU member states that have introduced the Euro.

Issues of subordinated debt instruments can now be treated as tier one capital in Argentina

Equity capital markets Four firms were brought on board to help Greek shipping company Danaos list on the New York Stock Exchange. Danaos, which is based in Piraeus and owns a fleet of container ships, raised $215 million through the initial public offering (IPO). Stephen Farrell of Morgan Lewis & Bockius was the issuer's lead US counsel, with White & Case offering tax advice and specialist shipping firm Watson Farley & Williams advising on matters relating to Marshall Islands and Liberian tax and law. John Gaffney of Cravath Swaine & Moore acted for the underwriters, Citigroup and Merrill Lynch.

One special form of acquisition in Slovakia, regulated by Article 476 of the Slovak Commercial Code, is the sale of an enterprise.

In the IFLR Banking Guide 2006 ("Divide and conquer") we wrote about an upcoming amendment to the Polish Banking Law regulating how banks are divided. The change is thought to result from the confidential agreement between the Polish government and UniCredito Italiano – a shareholder of two merging Polish banks: BPH and Pekao. The amendment was adopted on October 18 2006 and entered into force on the date of promulgation (October 19 2006).

The EIB explains the intricacies of issuing the first NGN

Best friends come together The site of the best friends' tranquil new headquarters in Brussels Europe's best friends network is coming together in a single building in Brussels. The Espace Meeus, located in the European Quarter in the Belgian capital, will be the new home to the Brussels offices of Hengeler Mueller and its friends Bonelli Erede Pappalardo, Bredin Prat, Slaughter and May, and Uría Menéndez. The firms hope to complete the move by September 2007.

Why shareholder activism is building

The sale of structured financial products, including equity bonds, index bonds and index-linked deposits, is increasing in Norway as well as the rest of Europe. According to unofficial numbers from the Financial Supervisory Authority of Norway (FSAN), about NKr50 billion ($7.5 billion) was invested in these instruments with 22 of the largest banks in Norway in the second quarter of 2006, representing an increase of NKr3.8 billion since the official survey made by the FSAN in the third quarter of 2005. Half of the investments in these structured products appear to be debt-financed and secured on the same instruments. Most of the funds invested originate from investors in the mass retail market. The real numbers might be even higher, because the FSAN survey does not include all foreign financial institutions represented in Norway.