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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.
Macfarlanes successfully pitched to win a role advising Trafigura opposite Norton Rose on the disposal of a stake in Puma Energy International.
As part of the deal, Sonangol Holdings has acquired a 20 per cent stake in Puma Energy for an undisclosed amount from Trafigura. The disposal is seen as the first step towards a flotation by Trafigura of its petroleum terminals and storage subsidiary Puma Energy, which has interests in 26 jurisdictions, including a number in Africa and South America.
Macfarlanes corporate partner Howard Corney advised Trafigura on the deal following a competitive tender last year. He was assisted by associate Justin Hope.
Macfarlanes has a history of roughly three years advising Trafigura on corporate deals. Although Macfarlanes won this mandate, the trading company has had a close relationship with DLA Piper, which was brought in to advise on due diligence. Trade finance partner Charles Morrison led this mandate.
Macfarlanes acted for Trafigura in 2008 in a major class action brought by 30,000 claimants over the dumping of toxic waste in the Ivory Coast in 2006.
Puma Energy is the world’s second-largest metals trader, behind Glencore and Vitol. The deal follows several others in the commodities industry, including the sale of a 50 per cent stake in its petroleum terminals and storage business to Petronas in 2010 and the IPO of Glencore earlier this year.
Norton Rose partner Mauro Mattiuzzo acted for Sonangol.