A&O Shearman

Consolis provides sustainable and smart precast concrete structures for the building and utilities sectors. With operations in 17 countries throughout the world, including Western Europe, the Nordics and the Baltics, the group generated EUR1 billion of sales in 2023. “The transaction signifies a pivotal milestone for Consolis and it was important for our clients that it was delivered quickly and seamlessly in order to provide the best platform for the company to succeed. Our cross-border restructuring and debt finance team was uniquely placed to deliver on that." James Graham, partner. Following completion, the lenders have extended their super senior RCF by three years until 2028, and holders of the existing senior secured notes have become the majority shareholders of the Group through a debt-for-equity swap and participation a new loan financing. The team advising the super senior revolving credit facility lenders was led from London by restructuring partner Joel Ferguson and debt finance partner James Graham, with support from senior associate Milan Sykora alongside associates Saleni Pravin Kumar and Connor Anear, with trainee Ned Walker. The team in Paris was led by partners Hector Arroyo and Thomas Roy alongside partner Aroen Kuitenbrouwer in Amsterdam. Read more here: https://ow.ly/TJoG50Ui17N #AOShearman

With the global minimum tax also known as "Pillar Two" now in effect across various jurisdictions, people are starting to consider how this will impact transactions in practice. In our recent global tax webinar, our panelists Tim Harrop, Ryan Bray, Matthew Brown, Brin Rajathurai, Naomi Lawton and Hugh Brooks discussed the impact the new global minimum tax could have on joint ventures (JVs). They looked at what Pillar Two could mean for JV structures, what people are thinking about in terms of risk allocation and documentation and why it is important to factor in the implications of Pillar Two early. Read our key takeaways here: https://ow.ly/HgFu50UhTZr #AOShearman #GlobalTax #PillarTwo #JointVentures

The UN Climate Change Conference Baku, COP29, ended on November 24, 2024. We convened a panel of specialists from our Brussels, London, New York and Paris offices to provide a rundown of notable outcomes from COP29. Our panelists shared their reflections through the lens of specialist legal advisors spanning multiple practice areas, including Environment and Climate, Carbon Markets, Energy, Natural Resources and Infrastructure, Project Finance and International Trade. Listen to the podcast here: https://ow.ly/ZeUG50UhyG8 #AOShearman #COP29

Our cross border leveraged finance team advised PSG on the financing for its investment in PlentyONE, an all-in-one cloud-based e-commerce ERP software platform. The partnership with PSG will help PlentyONE to further increase its presence across the DACH region and beyond, as well as accelerating strategic investments to enhance its product and services portfolio. The team was led by sponsor-side leveraged finance partner Nick Hallam in London, alongside senior associate Yasmin Joharchi and associate Talisha Ariarasa. In Germany, the transaction was led by partners Dr. Walter Uebelhoer and Dr. Rauni Ahammer alongside associate Dr. Georg Luetkenhaus. Read more here: https://ow.ly/oIgi50UgS9t #AOShearman

In the latest episode of our Market Horizons podcast series, our structured finance team explores one of the hottest topics in global finance: credit risk transfer and significant risk transfer trades. Moderated by senior associate Robert Simmons, the discussion features Donna Parisi, co-head of Global Financial Markets, partner Parya Badie, and senior associate James B.. This episode offers a clear, non-technical introduction to this fascinating area, demystifying some of its complexities across the U.S., Europe, and beyond. Our team dives into the various names used in the market for this product, unpacking what these short labels reveal about its features, applications, and significance. Don’t miss this insightful conversation: https://ow.ly/Qftg50UgLcH #AOShearman #MarketHorizonsPodcast #StructuredFinance

Apax Partners LLP draws on our integrated team for the acquisition of the professional services business from Evelyn Partners. The acquired business will be branded S&W, one of the fastest growing U.K. professional services firms. The transaction will carve-out the professional services business from Evelyn Partners, who will continue to operate their financial services and wealth management business post-completion. The team was led by partner Paul Dunbar alongside senior associate Adarsh Chhabria with support from associates Arabella Robinson, Aabynn Cha and Piers E. and trainee Sultan Al-Shidhani. Read more here: https://ow.ly/bwUr50UgzWe #AOShearman

Are you ready for Australia's new merger control regime? With a shift to a mandatory and suspensory merger control regime imminent, more deals will be notified and regular deal-doers will face challenges. Hear from our antitrust and M&A experts as they unpack these latest regulatory developments and discuss how the changes impact private equity firms. They also delve into some of the pain points and recent developments relevant to private equity firms in respect of the FIRB process. You can listen to our discussion here: https://lnkd.in/gRZztRx7 This is a must-listen for senior professionals and dealmakers who need to stay ahead of the curve. Simone Lowes, Peter McDonald, Lisa Emanuel and Dan Harris #AOShearman #PrivateEquity #MergersAndAcquisitions

Our team, along with Keller Anderle & Scolnick, represented Guardant Health, Inc. in securing a landmark Lanham Act trial verdict against Natera, Inc. The California jury unanimously awarded Guardant Health a USD292.5 million verdict, including USD175.5 million in punitive damages, for false advertising and unfair competition stemming from statements Natera made about the performance of Guardant Health’s blood-only oncology test, Guardant Reveal™. The decision marks one of the largest Lanham Act false advertising damages awards in history. The jury also unanimously rejected all of Natera’s counterclaims against Guardant. Our trial team was led by partners Saul Perloff and Christopher LaVigne, alongside attorneys Andre Hanson, Kathy Grant, and associates Trey Hebert and Megan Ines. Read more about the historic verdict here: https://lnkd.in/gME_8D_Q #AOShearman

The financing, agented by BNP Paribas, consisted of a USD5bn 364-day revolving credit facility, a USD5bn three-year revolving credit facility and a USD5bn five-year revolving credit facility. The new facilities are intended to finance general corporate purposes. Headquartered in Plano, Texas, Toyota Motor Credit Corporation provides finance, and voluntary vehicle and payment protection products and services to authorized Toyota and Lexus dealers or dealer groups, private label dealers or dealer groups, and other domestic and import franchise dealers and their customers in the United States and Puerto Rico. The team advising BNP Paribas, as administrative agent, on the USD15bn financing for Toyota Motor Credit Corporation and its affiliates was led by Susan Hobart and Barbara Zylberg. #AOShearman #SyndicatedLending #InvestmentGradeFinance

The Ministry of Finance of China has just made history with its first USD-denominated sovereign bond offering in the Middle East. “The offering of China’s sovereign bonds in the Middle East and listing of the bonds on Nasdaq Dubai reinforces the growing economic and financial collaboration between China and the Middle East. This landmark transaction not only opens new avenues for investment from Middle East investors but is also a testament to the robust financial linkages and mutual growth opportunities that exist between these regions. Our global capital markets expertise together with our Middle East offering enables us to work closely with our clients to explore new market opportunities.” – Agnes Tsang, partner Learn more about this inaugural offering here: https://lnkd.in/eByVRZ3R #AOShearman #SovereignBonds #CapitalMarkets