Khaitan advises on laboratories purchase

Khaitan & Co advised Metropolis Healthcare Limited in relation to the acquisition of business of Sanjeevani Pathology Laboratory by way of a slump sale on a going concern basis.

Metropolis India is a leading chain of pathology and diagnostics laboratories.

The core transaction team comprised of Anuj Sah (Associate Partner), Nayantara Kutty (Senior Associate) and Vinita Choudhury (Associate) with assistance from Shailendra Bhandare (Counsel), Ritu Shaktawat (Principal Associate), Kartikeya Prakash (Senior Associate), Suman Prabhu (Associate) and Ajay Singh (Associate). The deal enables Metropolis to scale up its operations and strengthen its footprint in Gujarat and to evolve further as a chain of diagnostics laboratory.

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Khaitan advises on solar power loan

Khaitan & Co advised Aditya Birla Solar Finance and Aditya Birla Nuvo Limited in relation to a rupee term loan facility extended to Aditya Birla Solar by Yes Bank Limited for part-financing three solar power projects of 20MW capacity each at Shirahatti, Ramadurg, Mulbagal in Karnataka along with associated infrastructure.

Aditya Birla Solar Finance is a special purpose vehicle set up by Aditya Birla Nuvo Limited in relation to the Projects.

Shishir Mehta (Partner), Rajeev Vidhani (Principal Associate) and Nikita Nehriya (Associate) represented the clients on the transaction.

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Akin Gump City turnover drops 4 per cent as PEP soars past $2m

Akin Gump Strauss Hauer & Feld’s London revenue dipped by almost 4 per cent over 2016, while global profits soared past the $2m mark.

The fall in London revenue follows a turnover surge of 154 per cent in 2015. Revenue jumped from $35.8m to $91.05m (£63.05m) in 2015 after a deal was announced between Akin Gump and Bingham McCutchen in September 2014.

Last year, the firm made $87.9m in the City – a decline of nearly 4 per cent. The figure means Akin Gump has made little headway in London since the merger, with the combined turnover of Akin Gump and Bingham amounting to $88.1m.

London managing partner Sebastian Rice told The Lawyer: “The figures aren’t quite what they were over 2015. Some big cases came to an end at the start of the year and it’s taken time for work to ramp up. Levels started going up again in the summer and the second-half of the year was very impressive.”

London cases included Akin Gump’s eight-year representation of the bondholders of the three major Icelandic commercial banks that failed in 2008. The deal won the firm restructuring team of the year at The Lawyer Awards last year.

In spite of London setbacks, City senior partner James Roome added: “As a firm it’s been a great year”.

Akin Gump posted turnover of $980m – a rise of 5 per cent from $930m. Net profit climbed nearly 4 per cent from $401.6m to $412.5m.

Average profit per equity partner similarly increased by 10 per cent, jumping from $1.9m to $2.1m. Revenue per lawyer rose from $1.09m to $1.14m.

Akin Gump has had an up-and-down year in London, losing litigators Tom Evans and Michael Stepek to Burford Law and Winston & Strawn respectively. It was also criticised in a High Court judgment last November that revealed it racked up $11.5m on a case that was struck out at the first hurdle.

Despite the losses, Akin Gump recruited Dentons private equity partner Igor Krivoshekov to drive its international energy offering. It also hired Baker & McKenzie partner Jasper Helder to spearhead its international trade practice and Addleshaw Goddard litigation partner Kambiz Larizadeh.

It also carried out a UK salary review over 2016, opting to pay its junior lawyers according to moving exchange rates. Akin Gump increased its base salaries before Brexit to match Cravath Swaine & Moore’s $180,000 pay packets for junior lawyers.

US financials season is now firmly underway, with a number of firms revealing growth over 2016.

Weil Gotshal & Manges saw revenue growth of 9 per cent to $1.27bn with PEP drastically increasing by 22 per cent to $3.1m.

Baker Botts further enjoyed gains over 2016, with turnover up 20 per cent to $846.5m from $704.5m. PEP jumped 37 per cent from $1.8m to $2.5m.

Cadwalader Wickersham & Taft, however, suffered a revenue decline of 2.5 per cent to $452m. PEP rose nearly 3 per cent to $2.1m.

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M&A specialist Maximilian Lang is made counsel

Maximilian Lang (31), attorney-at-law at Schoenherr, has been promoted to counsel.

Maximilian has an excellent record advising international and domestic clients in private and public M&A transactions, both mid-market and high-end.

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New appointment in Cayman private client and trusts team

Anthony Partridge, a private client specialist known for his expertise in complex trust structures and estate matters, has joined Ogier as a partner in the firm’s Private Client and Trusts team in the Cayman Islands.

Anthony has spent more than 10 years practicing in Cayman, and specialises in all aspects of non-contentious private trust matters, wealth structuring for institutional trustees and high net worth individuals together with all related regulatory work, and cross-border succession matters.

He has particular expertise in resealing foreign grants in the Grand Court of the Cayman Islands.

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The world in 2017

Worldwide economics in the spotlight at this event in Rome.

For more:

http://www.gop.it/events_view.php?lang=eng&id=571

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Italy: institutional investors

Institutional round table to be attended by pension funds and AIFI members

For more:

http://www.gop.it/events_view.php?lang=eng&id=568

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Collas Crill a ‘firm to watch’

Asian Legal Business has published its 2017 annual Firms to Watch, listing Collas Crill as the only offshore law firm. The feature, which started in February 2015, offers a glimpse into the future of the Asian legal industry and features just 15 firms.

Collas Crill was credited for getting off to a strong start in 2017 with the merger of BVI law firm Farara Kerins and hire of Stephen Adams as its new Singapore managing partner in the second half of 2016.

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MENA: Arendt named best advisory Firm, UCITS

Arendt & Medernach was named Best Advisory Firm – UCITS on the occasion of the MENA Fund Manager Performance Awards in Dubai. This is the fifth time in a row that the firm has won this award. It testifies to the reliability and quality of the services provided by the office in Dubai. This award recognises the firm as a support and guide for the MENA region fund/asset management domain

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Analytics in Action: Spotlight on Business Development

Join Aderant’s Spotlight Analytics Product Manager, Derek Schutz, February 16, 2017 for a demonstration on how to mine your firm’s data and use actionable metrics to:

  • Slice and dice individuals’ books of business to evaluate opportunities for business development success
  • Expand your client base and improve your success with finding new business
  • Get more business from existing clients
  • Encourage cross-selling between offices and departments

Date: Thursday, February 16, 2017 at 2PM ET / 11AM PT
Host:
 Derek Schutz, Spotlight Analytics Product Manager

Register at

Live Webinars

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