Shearman & Sterling advised Société Générale, HSBC and CACIB, as Mandated Lead Arrangers, for the financing of the acquisition to a company affiliated with Apollo Global Management, Inc. of 31 hypermarkets and supermarkets properties valued at €465 million.

Shearman & Sterling is today announcing the hire of Alan Rockwell and Michael Chernick in New York. The hires reflect the firm’s continuing commitment to strengthen its position as one of the preeminent firms in leveraged finance with talent across both New York and London. 

In collaboration with Empire Startups, Shearman & Sterling is hosted an interactive showcase with live demos from cutting-edge FinTech companies on Tuesday, October 15 from 6:00-9:00 pm at the AWS Loft in New York City. During the event, Donna Parisi moderated a fireside chat with Kamran Ansari, Venture Partner at Greycoft, about the latest fundraising trends and best practices for both founders and other investors. Discovered the five startups working to disrupt payments, wealth-tech, accounting and more!           

Partners Trevor Ingram and Marwa Elborai (both London–Capital Markets) spoke at AFME's 14th Annual European High Yield Conference on October 14, 2019.

Counsel Jennifer Morton (New York-Financial Institutions Advisory & Financial Regulatory) is participating in a panel discussion, entitled “Regulatory Developments Impacting Investment Advisers,” at the 2019 Money Management Institute (MMI) Annual Conference from October 14-16 in Atlanta, Georgia. The discussion will principally focus on Regulation BI and Form CRS compliance considerations.

Partner Barney Reynolds and of counsel Simon Dodds (both London-Financial Institutions Advisory & Financial Regulatory) spoke at City & Financial Global’s Regulation of Asset Management conference in London on October 14. Barney spoke on the impact of Brexit and other global challenges and Simon spoke on the impact of personal regulatory responsibility under the SMCR for the individual and the organization.

Court of Appeal Vacates Jack Sagin’s Murder Conviction Thanks to DNA Evidence  

California’s Sixth District Court of Appeal overturned the murder conviction of Jack Sagin, a man who has spent 33 years in prison, after it was determined that the DNA tested from the crime scene, including male DNA found under the victim’s fingernails, was not that of Jack Sagin. Sagin was released today. 

Partners John F. Cove (San Francisco-Antitrust) and Geert Goeteyn (Brussels-Antitrust) have authored the article “Parental Liability for Cartel Infringements in the EU and US,” published in August 2019 in Getting The Deal Through - Market Intelligence - Cartels. This article discusses the differing approaches to parental liability across the EU and U.S., before noting the practical considerations for companies to bear in mind when faced with international antitrust investigations.

Shearman & Sterling advised Morgan Stanley & Co. LLC and Santander Investment Securities Inc. as dealer-managers in connection with Cencosud’s cash tender offers to purchase up $900 million of its 2023, 2025 and 2027 notes.

Federal Reserve Chairman Jerome Powell gave a speech on Tuesday, October 8, that touched upon recent events in the repo market. We discuss certain aspects of this speech in the context of the market discussion regarding the replacement of U.S. dollar LIBOR with SOFR – the Secured Overnight Financing Rate in USD. USD LIBOR is at the heart of the interest rate world and its replacement is a once in a generation challenge.