‘Trophy assets’: Bakers and Taylor Wessing lead on Gherkin sale

Baker & McKenzie and Taylor Wessing helped finalise the sale of London’s iconic Gherkin building to the Safra Group for over £700m.

The sale last month of one of London’s most distinctive and recognisable landmarks, the 40-storey skyscraper, located at St Mary Axe in the City’s primary financial district, was placed into receivership in April after one of its owners was placed in insolvency, with big-four giant Deloitte appointed as receiver.

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Freshfields, Linklaters and Taylor Wessing advise on United Biscuits sale to Turkish buyer

Freshfields Bruckhaus Deringer, Linklaters and Taylor Wessing have taken the leading roles representing the sale of UK-based United Biscuits to Turkey’s largest food and beverage company Yildiz Holding.

The British food manufacturer – which makes McVitie’s, Jaffa Cakes, Hobnobs and Penguins, and Jacob’s Cream Crackers and Twiglets – will be acquired from private equity owners The Blackstone Group and PAI Partners by Yildiz for a reported £2bn.

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Baker & McKenzie and DLA Piper bet on Mexico’s growing legal market

DLA combines with local firm while Baker & McKenzie boosts its Mexican office

Mexico’s legal market has seen steady growth as President Enrique Peña Nieto’s package of reforms, including widespread tax breaks and the opening up of the energy sector to foreign companies, liberalises the economy. Last month saw both DLA Piper and Baker & McKenzie seek to capitalise on that growth by making strategic hires to broaden their offerings.

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City comp scheme to create first panel

The Financial Services Compensation Scheme (FSCS), the UK’s statutory compensation scheme for customers of authorised financial services firms, is currently undergoing a tender process to create its first-ever legal panel.

The FSCS, which is funded by levies authorised by the Prudential Regulation Authority and the Financial Conduct Authority, handles the majority of claims in-house, but has in the past turned to James Roome’s restructuring team, now at Akin Gump Strauss Hauer & Feld, and litigators at Herbert Smith Freehills and Quinn Emanuel Urquhart & Sullivan.

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Life During Law: Jason Glover, Simpson Thacher & Bartlett

Clifford Chance (CC) was a great place to be in the 1990s. Geoffrey Howe deserves a huge amount of credit. He instilled that we were on a journey everyone else was seeking to replicate. The car was travelling fast. The concept of delivering that globalisation was a very powerful thing.

I didn’t have a plan but a lot of fortune. I took a view early on that there were hundreds of great technical lawyers and I would never be able to distinguish on just that.

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After major acquisitions, Cofely set to create first legal panel

Cofely, a subsidiary of French energy giant GDF Suez, is to establish its first legal panel in a bid to reduce legal fees and the number of firms it deals with.

In what will be a mass reorganisation of the company’s legal services expenditure, which currently involves business managers in selecting law firms, general counsel Simone Tudor is hoping to reduce the company’s go-to law firms down to just three after a review found that Cofely had instructed 25 law firms so far this year.

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News in Brief – November 2014

PWC LEGAL LOOKS FOR REGIONAL GROWTH

Addleshaw Goddard and DLA Piper veteran Neal Shepherd was recruited by PwC Legal to head a regional push out of its Manchester office. The accountancy giant is targeting the north of England, with Shepherd focusing on mid-market M&A and expanding the team into PwC business areas, including employment and pensions.

 

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Hogan Lovells hires ten-strong associate team and acquires new office space for Birmingham nearshoring venture

Having confirmed in early spring the launch of a new cost-efficient legal services centre in Birmingham, Hogan Lovells has hired a ten-strong associate team across multiple practice areas and from national firms, including Pinsent Masons, Clarke Willmott and Shoosmiths, to spearhead the venture as well as acquiring new office space within Birmingham’s central business district.

The nearshoring venture, dubbed the Legal Service Centre and led by London partner Alan Greenough, who will relocate to Birmingham to manage the office, will now house teams comprising three associates within the practice areas of corporate, disputes and real estate, and a tenth specialist in real estate finance. Hires include the real estate lawyers, Shoosmiths’ senior associate Mark Saunders, Clarke Willmott associate Balraj Kaur and Pinsent Masons associate Abigail Gisbourne, who are all set to join in early November. The trio will initially start working out of the London office before relocating in order to integrate with the real estate team. All associates are expected to join by January at the latest.

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