The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Cleary Gottlieb Steen & Hamilton will represent Bank of America after it was given the all-clear to increase its stake in China Construction Bank (CCB) to almost 20 per cent ahead of the Chinese bank's IPO.
The US firm received the instruction from Bank of America when it purchased a $2.5bn (£1.42bn) stake in CCB in August.
Since then, the Bank of America has been invited to increase its stake from the initial 9 per cent holding to 19.9 per cent - the maximum allowed for a single foreign investor in a Chinese bank.
The IPO is expected to be the world's biggest this year. It aims to raise between HK$50.3bn (£3.69bn) and HK$63.6bn (£4.66bn).
CCB has sought counsel from Herbert Smith in Hong Kong, Skadden Arps Slate Meagher & Flom in the US and from Beijing-based Commerce & Finance Law Offices on Chinese law.