Shearman & Sterling is a leader in privatizations among international law firms by virtue of our worldwide knowledge and experience. We have participated in more than 100 privatizations in 27 countries on five continents, representing governments, state-owned entities, underwriters and acquirors. To take but one example of the depth of our experience, the Paris office has been involved in 25 French privatizations spanning over a decade.

The firm has been involved with:

• The sale of all or a portion of the equity interest in the assets being privatized to a company in the same or a related industry
  
  
• The sale of individual assets or stock in a privately negotiated or public auction-like process
  
  
• A private or public placement of equity securities
  
  
• The granting of a concession for the assets being privatized for a specific term
  
  
• The issuance of coupons or vouchers to the public followed by the offering of the ownership interests in various state enterprises to the public in exchange for such coupons or vouchers

Reasons for our leading position include our creativity (where we frequently have pioneered innovative techniques); our in-depth knowledge of relevant industries; and our experience in mergers and acquisitions and securities offerings, together with the full gamut of privatization strategies, including private sales, joint ventures, auction bidding and public offerings, both within and outside the home country of the company being privatized.

Shearman & Sterling combines unparalleled experience in structuring, negotiating and implementing privatization transactions with deep knowledge of key sectors, including telecommunications, power, banking, airlines and oil and gas.