The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... 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.
Cobbetts has landed a key role on the latest acquisition by Russia’s richest man and Chelsea Football Club owner Roman Abramovich.
The Manchester-headquartered firm advised AIM-listed gold miner Highland Gold on the sale of a 40 per cent stake in the business to Abramovich for $400m (£194.5m) last week.
Abramovich has bought the stake through his investment company Millhouse, and becomes Highland Gold’s biggest shareholder.
As Highland Gold is Russian-based but Jersey-registered, it is not subject to the Takeover Code and therefore Abramovich does not have to make an automatic bid, despite exceeding the 29.9 per cent threshold that normally triggers a formal takeover announcement.
Corporate finance partner Simon Ledbrooke led the team at Cobbetts, which led on English law aspects. PricewaterhouseCoopers’ Moscow legal services arm advised on Russian law, while Jersey law aspects were handled by Bedell Cristin.
Financial advisers to Highland Gold were NM Rothschild and JP Morgan Cazenove.
Cobbetts advised Highland Gold in 2005 on its $13m advancement by Barrick Gold, up until now the biggest shareholder in Highland.
Although Abramovich has a longstanding relationship with Skadden Arps Slate Meagher & Flom’s London managing partner Bruce Buck, on this occasion Millhouse used its own in-house legal team.