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Kris Ferranti Nominated to David Rockefeller Fellows Class of 2023 by Partnership for New York City

February 08, 2023

Shearman & Sterling Real Estate partner, Kris Ferranti, has been selected by the Partnership for New York City to join the David Rockefeller Fellows class of 2023, an immersive one-year program in which executives learn how decisions are made, services delivered, and power is exercised in New York City.

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Kris Ferranti Updates Practice Note on Real Estate Joint Venture Promotes

February 06, 2023

Real Estate partner Kris Ferranti updated his previously-published article entitled “Real Estate Joint Venture Promotes and the Distribution Waterfall Provisions” Practical Guidance Practice Note. The article examines issues to consider when drafting the promote mechanic provisions of a real estate joint venture agreement. Kris also provides sample provisions illustrating the concepts discussed within the practice note.

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Partner Michael Saarinen Honored as Thought Leader for Private Funds Formation and Regulation

February 06, 2023

Michael Saarinen, a New York-based partner in Shearman & Sterling’s Investment Funds Practice, has been honored by Who’s Who Legal Thought Leaders: USA for excellence in private fund formation and regulation.

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NEUE MELDEPFLICHTEN ZUR PRÜFUNG DRITTSTAATLICHER SUBVENTIONEN BEI UNTERNEHMENSERWERBEN UND ÖFFENTLICHEN VERGABEVERFAHREN IN DER EU

February 03, 2023

Am 12. Januar 2023 ist die neue EU-Verordnung über den Binnenmarkt verzerrende drittstaatliche Subventionen ("Regulation on foreign subsidies distorting the internal market", kurz "Foreign Subsidies Regulation" oder "FSR") in Kraft getreten. Die FSR soll eine Regelungslücke schließen, die sich daraus ergibt, dass finanzielle Zuwendungen an Unternehmen durch Nicht-EU-Länder nicht den EU-Beihilferegeln unterliegen. Die neue Verordnung führt unter anderem eine Anmeldepflicht für Unternehmenskäufe in der EU ein, sofern bestimmte, unter anderem auf die Höhe finanzieller Zuwendungen von Drittstaaten bezogene Schwellenwerte überschritten werden. Der Begriff finanzielle Zuwendung im Sinne der FSR umfasst eine breite Palette von Unterstützungsmaßnahmen. Materieller Prüfungsmaßstab ist, ob eine drittstaatliche Subvention den Binnenmarkt verzerrt. Zuständig für die Prüfung ist die EU-Kommission. Die neue Anmeldepflicht gilt ab dem 12. Oktober 2023 und tritt neben bestehende fusionskontrollrechtliche und investitionskontrollrechtliche Anmeldepflichten. 

 

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Bjerke Authors Securitisation 2023 Chambers USA Law and Practice

February 02, 2023

Partner Bjorn Bjerke (New York-Finance) has authored the “USA Law & Practice” chapter in the 2023 Chambers Global Practice Guide: Securitization.

Chambers Global Practice Guides provide expert legal commentary on various practice areas in key jurisdictions around the world.

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C$825 Million Financing For Management Buyout of Canaccord Genuity

February 02, 2023

Shearman & Sterling is advising 1373113 B.C., as Borrower for a management-led group consisting of officers and employees of Canaccord Genuity Group and its subsidiaries, in connection with a take-over bid and management-led buyout of Canaccord Genuity. HPS Investment Partners has committed to provide a C$825million senior secured first-lien term loan to finance the transaction.

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The Bank of Nova Scotia’s $2.5 Billion Senior Medium-Term Notes Offering

February 02, 2023

Shearman & Sterling represented The Bank of Nova Scotia in connection with its registered offering of $1.25 billion aggregate principal amount of 4.750% Senior Medium-Term Notes due 2026 and $1.25 billion aggregate principal amount of 4.850% Senior Medium-Term Notes due 2030 under its U.S. senior medium-term notes program.

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GCR Awards 2023 Booz Allen Hamilton/Everwatch Nominated for Merger Control Matter of the Year: Americas

February 01, 2023

The Shearman & Sterling Antitrust and Litigation Teams have been nominated for the GCR Awards 2023 with the Booz Allen Hamilton/Everwatch case in the category Merger Control Matter of the Year: Americas.

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Antitrust Practice Recognized Among Top Global Competition Practices by Global Competition Review

February 01, 2023

Shearman & Sterling’s antitrust practice again features in Global Competition Review’s (GCR) 2023 Global Elite rankings. The ranking, part of the extensive GCR 100 research into the world’s best competition practices, details the work of the world’s best 25 global competition law practices.

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Lotus Technology to Go Public through Business Combination with L Catterton Asia Acquisition

February 01, 2023

Shearman & Sterling is representing Credit Suisse Securities (USA) LLC who is acting as capital markets advisor to L Catterton Asia Acquisition Corp. (LCAA) in connection with a proposed business combination between LCAA and Lotus Technology Inc. (Lotus Tech). The business combination values the combined company at approximately US$5.4 billion (pro forma enterprise value).