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the exercise of discretion in makingbonus payments to employeesLandwell London

IFLR is proud to announce the nominations for its 2000 Awards. The winners will be revealed during a ceremony held at The Park Lane Hotel, London, on March 15 2001. For enquiries regarding the awards dinner and reservations please contact Nichola Whitaker on +44 (0) 20 7779 8467

German chemicals group Degussa SKW Co has set up £1.55 billion syndicated multicurrency acquisition facilities to fund the £1.36 billion acquisition of UK company Laporte.

Clifford Chance is advising Schroder Ventures on the £1 billion ($1.5 billion) financing for the purchase of UK Homebase DIY stores from supermarket retailer J Sainsbury.

Alex Bafi Herbert Smith has swooped for Davis Polk & Wardwell corporate finance lawyer Alex Bafi. Bafi will join partners Jim Wickenden and Allen Hanen (who also worked for Davis Polk) in the Spring, as part of the London firm's growing US finance practice in Europe.

In the largest cross-border acquisition of a Singapore company, Milbank, Tweed, Hadley & McCloy represented Singapore's NatSteel. Wilson, Sonsini, Goodrich & Rosati represented the US acquiror, Solectron. Stamford advised the target NatSteel Electronics. The deal is valued at $2.4 billion.

Baker Botts has hired Christine Ferguson, former counsel at the European Bank for Reconstruction and Development (EBRD) to strengthen the firm's central Asian team. Partners expect a wave of projects work to flow from a gas pipeline financing in Azerbaijan. Ferguson specializes in debt and equity transactions for natural resources, banking, telecoms, and other projects work in Azerbaijan and Albania, and joins as of counsel to head the US firm's Baku office. Ferguson, a former Moscow-based Clifford Chance partner, joins four local lawyers in Baku. She will use her experience in financing and hydro-carbons in Russia, the Balkans and central Asia, to win regional work.

With the economy in a healthy state, the Irish government is looking to develop the country’s infrastructure. The expected goldrush of private public partnership schemes will give a new boost to local firms. But the rich pickings are already attracting the attention of big international firms. Sara Ver-Bruggen reports from Dublin

Maples & CalderGeorge Town

Many of China’s new generation of limited liability and joint stock companies are now looking to evolve to meet increased competition. Steven Blayney of Lovells, Hong Kong, presents two case studies illustrating how companies can use acquisitions to gain a backdoor listing