The IPO market might be starting to slow in London after a particularly active stint in 2014. But in other climes, it still seems to have plenty of momentum.
Last week Latham & Watkins and Baker & McKenzie’s Saudi association firms advised on the largest-ever flotation in the Arab world – the £3.7bn listing of the National Commercial Bank (NCB).
Latham is used to doing these sorts of landmark IPOs in the Middle East, having advised on Qatar’s first IPO since 2010 in March.
Meanwhile, back in Europe, CVC has continued its shopping spree, acquiring Finnish insulation manufacturer Paroc for $700m.
The private equity giant turned to Freshfields Bruckhaus Deringer this time round, while Paroc instructed Macfarlanes. CVC has been busy beefing up its ties to the magic circle firm, including taking private equity partner Chris Bown off their hands in 2013.
It’s all healthy competition for Clifford Chance and Simpson Thacher, two other firms which regularly fight for their own bite of CVC’s market share.
Also on TheLawyer.com:
- Reed Smith and Danish firm Kromann Reumert advised Bavarian Nordic on a license and supply agreement for about $187m to grant its Ebola vaccine to Johnson & Johnson company Crucell Holland
- Slaughter and May corporate partner David Wittmann is set to become the firm’s practice partner on 1 January 2015 when the incumbent Paul Olney retires
- Clifford Chance’s private equity chiefs Jonny Myers and Oliver Felsenstein insist that their sector remains the “crown jewels” of the firm’s corporate team