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Norton Rose advises consortium of banks on $500m bond issuance

Global law firm Norton Rose Fulbright has advised Australia and New Zealand Banking Group Limited, Citigroup Global Markets Limited, Emirates NBD Bank PJSC, Industrial and Commercial Bank of China Limited, Dubai (DIFC) Branch, J.P. Morgan Securities plc and Société Générale as joint lead managers on a US$500 million bond issuance by Emirates NBD Bank PJSC.

The notes are due February 2025 and were issued off Emirates NBD Bank PJSC’s $12,500,000,000 Euro Medium Term Note Programme, which was updated in July 2019 and on which Norton Rose Fulbright also advised.

The Dubai-based Norton Rose Fulbright team was led by head of debt capital markets for the Middle East, Gregory Man, with assistance from senior associate, Ganna Vlasenko.

Gregory Man commented: “We are proud to have been involved in this transaction. This deal builds on Norton Rose Fulbright’s track record of advising on notable bond transactions in the region and once again provided us with the opportunity to represent many of our leading financial institutions clients.”

About Norton Rose Fulbright

We provide the world’s preeminent corporations and financial institutions with a full business law service. We have more than 3,700 lawyers and other legal staff based in Europe, the United States, Canada, Latin America, Asia, Australia, the Middle East and Africa.

Recognised for our industry focus, we are strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare. Through our global risk advisory group, we leverage our industry experience with our knowledge of legal, regulatory, compliance and governance issues to provide our clients with practical solutions to the legal and regulatory risks facing their businesses.

Wherever we are, we operate in accordance with our global business principles of quality, unity and integrity. We aim to provide the highest possible standard of legal service in each of our offices and to maintain that level of quality at every point of contact.

Norton Rose Fulbright Verein, a Swiss verein, helps coordinate the activities of Norton Rose Fulbright members but does not itself provide legal services to clients. Norton Rose Fulbright has offices in more than 50 cities worldwide, including London, Houston, New York, Toronto, Mexico City, Hong Kong, Sydney and Johannesburg.

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Hogan Lovells Celebrates the New Year with 29 Promotions

Global law firm Hogan Lovells today announced that 29 of its people have been promoted to partner effective 1 January across a network of 45+ offices in 24+ countries, spanning Africa, Asia, Australia, Europe, the Middle East, and the Americas.

Speaking on the promotions, Hogan Lovells’ CEO Steve Immelt commented:

“Each of these individuals has demonstrated our core values through their hard work, client dedication, leadership behaviors and innovative thinking. Their additions to the partnership are a reflection of our truly global and diverse culture at the firm. The achievements of this talented group reflect the excellent work the firm does in recruiting and retaining the best people in a highly competitive legal marketplace. With that in mind, I am particularly pleased that more than 40 percent of our new partners and new counsel are women. I congratulate all those who were promoted and wish them every success as they continue their career with us.”

Each of Hogan Lovells’ five practice groups is represented in the 2020 partner promotions:

  • Eight in Corporate (including in Transactional, Real Estate, and Tax)
  • Seven in Litigation, Arbitration and Employment (including in Litigation, Arbitration, Investigations, White Collar and Fraud, and Employment)
  • Nine in Global Regulatory (including in Communications, Environment and Natural Resources, Medical Device and Pharmaceuticals and Biotechnology, Health, International Trade and Investment, Antitrust, Competition and Economic Regulation, and Financial Services)
  • Two in Finance (including in Business Restructuring and Insolvency, and Infrastructure, Energy, Resources and Projects)
  • Three in Intellectual Property, Media and Technology

The additions to the partnership are a reflection of Hogan Lovells’ progress as one of the legal world’s only true global law practices. The new partners include:

  • 14 in the Americas, spread across our Baltimore, Denver, Mexico City, New York, Northern Virginia, and Washington, D.C. offices
  • Eight in the UK and Africa, in our London office
  • Six in Continental Europe, spread across our Frankfurt, Luxembourg, Munich, Madrid, and Rome offices
  • One in Asia Pacific and the Middle East, in our Tokyo office.
  • 13 women and 16 men.

In addition to the 29 new partners, 56 of our lawyers have been promoted to Counsel.

Our clients see us as an extension of their team, because we put ourselves in their shoes at every turn. They trust our recommendations, and we prove our worth time and again with commercially astute solutions.

If you would like to find out more information, please visit: https://www.hoganlovells.com/

Hogan Lovells partner joins Baker McKenzie in Johannesburg

Baker McKenzie has appointed trade and commodity finance lawyer Lodewyk Meyer as a partner in its banking and finance practice group in Johannesburg.

Meyer was previously partner of the banking and finance team at Hogan Lovells in Johannesburg, where he had been since 2015.

His experience also includes roles at Norton Rose Fulbright, Bowman Gilfillan, Standard Chartered, Nedbank and Absa. Throughout his career he has advised banks, structured trade and speciality funds, and actors in the commodity value chain in Africa, the Middle East, Asia, Europe and the US.

“Lodewyk’s hire forms part of our strategy to grow our transactional practice in Africa through strategic recruitment and organic promotions,” says Baker McKenzie managing partner Morne van der Merwe. “Lodewyk’s skills in trade, finance and investment in Africa are invaluable to multinational organisations who must negotiate a multitude of trade and finance laws and regulations when transacting across borders in Africa.”

JLL expands logistics advisory business with Vincia acquisition

Real estate services firm JLL has expanded its supply chain and logistics advisory platform with the acquisition of Vincia in France.

JLL acquired the French supply chain consulting business for an undisclosed sum and said the deal supports JLL’s plans to expand its industrial and logistics business and strengthen its supply chain platform by investing in markets across Europe, the Middle East and Africa (EMEA).

The deal will expand JLL’s supply chain and logistics platform which currently provides services to landlords, occupiers and developers with more than 250 dedicated experts across 18 locations in EMEA.

Established 20 years ago, Vincia specialises in helping clients in the manufacturing and distribution services sectors to enhance their performance in the areas of service, cost and quality.

The acquisition of Vincia strengthens JLL’s capabilities in the sector which follows the acquisition of logistics and supply chain firm GCL Europe in 2014.

Charles Boudet, managing director, JLL France, said: “At a time of changing purchasing behaviour and the widespread introduction of omni-channel services, the logistics and supply chain market presents new opportunities for our clients.

“This acquisition strengthens our expertise in the sector and is key to enhancing our ambitions to grow our supply chain and logistics operations in France and beyond.”

Laurent Vallas, regional director and industrial and logistics assets sponsor, JLL France, said: “The acquisition of Vincia enables us to respond to the growing market demand for supply chain consulting services.

“It is an expansion of our capabilities in the sector which follows our acquisition of GCL Europe in 2014.”

Fabrice Mattei and Pascal Querro, co-founders of Vincia, said: “We have worked with JLL for a number of years on key projects.

“These shared experiences have always delivered great value to our clients and have proven that we share the same principles and culture of excellence.”

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Optimistic companies expect revenue growth over the next 12 months

With disruption rewriting traditional business operations, private business leaders remain steadfast in their optimism about the year ahead. In its second report on this important market segment, “Global perspectives for private companies: Agility in changing markets,” Deloitte details that despite market challenges, three-quarters of private business leaders express high or extremely high confidence in the success of their private firm over the next 24 months.

In a survey of 2,550 private company leaders across 30 countries, Deloitte found that the majority of respondents anticipate growth in six of eight key business metrics in the next 12 months. The strongest growth is predicted for revenue, productivity and profits – with companies in the Americas taking the lead in terms of expected increases, compared to counterparts in the Europe, Middle East, Africa and Asia Pacific regions.

“Private business leaders don’t necessarily view today’s disruption as negative, but rather as offering new opportunities for growth,” said Jason Downing, vice chairman of Deloitte LLP and the U.S. Deloitte Private leader. “Despite some concern about trade policy and geopolitical uncertainty, the majority of executives we surveyed are highly optimistic about growth and truly have confidence in their company’s success in the year ahead.”

Proactivity is catalysing productivity

Technology has brought business closer to its customers but it has also upended business models. It has driven efficiencies but also fostered uncertainties. To address these conditions, firms globally are not staying idle but considering (43%) and implementing (40%) new business models to navigate disruption.

In conjunction with exploring new business models, companies are also looking for ways to improve growth. Globally, the top two strategies for firms are increased productivity (29%) and new product/service development (24%). Interestingly, these same two categories rank as the top competitive advantages.

Talent as the differentiator

Despite advances in adoption and implementation of technology, private business leaders realise their employees can be the differentiator and are investing in them through the following initiatives: 39% are devoting assets to training programs, 35% are increasing the number of full-time employees and 33% are investing in leadership development.

In order to attract and retain employees, 4-in-10 firms plan to reimagine learning and development programs using experiential formats, develop strategies to build an inclusive workforce, and increase their focus on flexibility and well-being programs.

Social purpose fuels corporate profits

With the influence of social media and the rise of employee activism, the majority of private business executives recognise that having a strong company culture is not a “nice to have” but a “need to have.” More than three-quarters (77%) of survey respondents agree that culture is strategically important to the success of the business.

Culture encompasses much more than the activity happening within a business and private company leaders today recognise this new reality. Specifically, the concept of social responsibility is resonating with private firms worldwide, with 66% viewing it as a top or high priority for their organisation. To make the most of these initiatives, organisations are focusing on corporate strategy as well as employee and customer branding to separate themselves farther from the competition.

Conducting business across borders

Regardless of business size or industry, technology has blurred borders and provides every company with the ability to be a global enterprise. In fact, the top driver cited for M&A activity over the next 12 months is the opportunity to enter new global markets (39%). The survey found that many private business executives expect to conduct an aggressive merger and acquisition strategy, with 42% believing it is likely or very likely they will participate in an acquisition in that timeframe.

This potential expansion comes in the face of uncertainties ignited by global trade tensions. While 24% of global respondents view trade barriers as a significant risk to growth, it is not at the expense of private business’ optimism: 15% of respondents cite entry into foreign markets as their company’s main growth strategy over the next 12 months.

“Despite some areas of uncertainty, private businesses remain the engine behind the global economy, fueled by their agility and ability to innovate,” Downing said.

About Deloitte Private

Deloitte Private is exclusively focused on serving private clients of all sizes and driven to address the opportunities and challenges unique to private businesses. Deloitte Private delivers audit and assurance, tax, consulting and risk and financial advisory services tailored for private companies, including family-owned businesses, closely held (nonfamily) businesses and private equity and venture-capital-backed businesses.

About Deloitte

Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including nearly 90 percent of the Fortune 500 and more than 5,000 private and middle market companies. Our people work across the industry sectors that drive and shape today’s marketplace to make an impact that matters — delivering measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to see challenges as opportunities to transform and thrive, and help lead the way toward a stronger economy and a healthy society. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see https://www2.deloitte.com/uk/en.html about to learn more about our global network of member firms.

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DLA Piper Africa claims top spot in M&A for Africa

For the first time, DLA Piper also claimed the top spot on the Mergermarket league table for M&A (based on deal count) in Africa, it added.

According to Mergermarket, the company has advised 43 deals in the Middle East and Africa combined and 30 deals in Africa alone. The company also ranked high in the Mergermarket league tables in a number of regions around the world, including:

  • 1 Global Deal Count (671)
  • 1 Europe Deal Count (411)
  • 3 US Deal Count (296)
  • 1 Nordics Deal Count (131)
  • 1 UK Deal Count (128)
  • 1 Denmark Deal Count (63)
  • 1 France Deal Count (56)
  • 1 the Middle East & Africa Deal Count (43)
  • 1 Africa Deal Count (30)
  • 1 Russia Deal Count (9)

Johannes Gouws, director and managing partner at DLA Piper in South Africa, said, “We are delighted to be ranked number one for deal count in Africa for the first time. It shows that our M&A strategy in Africa is starting to deliver the results we are aiming for.”

“With 20 DLA Piper and DLA Piper Africa offices in countries right across Africa, and numerous other Africa-specialists from financial markets across the globe, there really is no other law firm that can match our M&A offering on the African Continent,” he added.