The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. 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.
The German offices of Freshfields Bruckhaus Deringer and Cleary Gottlieb Steen & Hamilton have scooped lead roles on the federal state of Berlin's €4.6bn (£3.1bn) sale of an 81 per cent stake in Landesbank to Deutsche Sparkassen-und Giroverband öK.
Freshfields advised the state of Berlin, a longstanding client, led by the firm's Frankfurt-based co-head of financial institutions Matthias-Gabriel Kremer.
German savings bank association Deutsche Sparkassen turned to Cleary, which fielded a team led by M&A partner Klaus Riehmer in Frankfurt.
The deal sees Deutsche Sparkassen also acquire a silent partnership in Landesbank, worth €723m (£490m). Decided through an auction process, the sale was required by the European Commission as part of the state aid package it put in place to rescue the bank when it was nearly insolvent in 2001. Kremer said Freshfields has been advising the state of Berlin for 10 years, including when it received state aid from the EU.
The exit was planned as dual-track, with the magic circle firm also advising on a potential share offering.