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.
White & Case has snared a lead role advising on the largest Russian real estate IPO to date.
White & Case has secured a lead role advising on the largest Russian real estate IPO to date.
The flotation of real estate company AFI Development, which was listed on the London Stock Exchange, totals $1.4bn (£706.82m) and allows the company to tap the international capital markets, explained White & Case partner Josh Kiernan.
Kiernan said: "The IPO was seven times oversubscribed. This is an indication of investor appetite for Russian real estate transactions. The market is very successful and I can see this developing further."
AFI is a subsidiary of Israeli company Africa Israel Investment. The company invests in large-scale real estate projects on development in Central and Eastern Europe (CEE).
Kiernan highlighted the large amount of corporate and private investment in real estate across Russia and CEE.
White & Case has worked on six large Russian IPOs over the past six months, including the AIM listing of real estate company MirLand in December last year.
Kiernan said: "It‘s not been a deliberate push by the firm to go in this direction. Our strength in Eastern Europe as well as strength in Israel and capital markets has made us very successful."