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  • FBC accepts innovative Tier 1 capital instrumentsWenger Vieli Belser
  • Employee stock option plansWierzbowski & Szubielska, Warsaw
  • Corporate divisionsKomatsu, Koma & Nishikawa, Tokyo
  • US Steel, the largest steel-maker in the US, has bought the Slovakian steel group Vychodoslovenske Zeleziarne (VSZ) for $475 million. The deal represents the second-largest acquisition in Slovakia's history.
  • US firm Baker & McKenzie worked hard to overcome local insolvency laws as adviser to the lead arrangers on a recent $410 million project financing in Oman. The financing will be used to build around 1,000 kilometres of gas pipelines.
  • Baker & McKenzie's Hong Kong office has won a place on China Mobile's acquisition of seven mobile-telephone networks. Freshfields, which advised on the two previous acquisitions, in 1998 and last year, is not involved.
  • The European market has been slow to take advantage of collateralized debt obligation (CDO) issues when compared to the US. In recent weeks, however, two deals have completed which may help open up this potentially lucrative avenue of fund raising.
  • Australia's law firms are among the most profitable in Asia. They are sophisticated, large and close to southern Asian markets such as Indonesia and Malaysia. At first glance it is no surprise then that rumours of international mergers persist.
  • Clifford Chance has advised on the UK's largest multi-loan commercial mortgage securitization, which continues a trend that will see European issuance this year well above 1999's $9.6 billion.
  • UK firm Norton Rose has lost its second partner to a multi-disciplinary partnership (MDP) in recent weeks. Celia Gardiner, a banking partner, has left to head up the banking team at PricewaterhouseCoopers' (PWC) legal arm, Landwell. She follows in the footsteps of capital markets head Gilles Thieffry who left Norton Rose to join Garretts, Andersen Legal's UK member firm.