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.
Skadden Arps Slate Meagher & Flom advised the Chinese government on its investment in private equity house Blackstone Group.
The Skadden team, led by Beijing M&A partner Jon Christianson, advised the Chinese government on its $3bn (£1.51bn) placement with the group ahead of Blackstone's planned IPO, which is expected in mid-June.
The investment is said to be part of the Chinese government's determination to earn higher returns on its $1.2tr (£604.52bn) foreign exchange reserves held in US treasury bonds and other government debt at present.
After the investment Blackstone's IPO will nearly double in size, from $4.5bn (£2.27bn) to $7.8bn (£3.93bn).
Shares in the IPO will be priced at $29-$31 (£15-£16), valuing Blackstone at $33.6bn (£16.93bn). The Chinese government will own no more than 10 per cent of the shares.