Webinars

Webinar Series: Current developments and emerging trends in corporate finance transactions

Economic indicators and the markets have shown confidence beginning to re-emerge but significant challenges remain. The spring series of webinars provides commentary on the current developments and emerging trends across a range of corporate finance transactions. Each webinar comprises a 40 minute live and interactive audio-visual broadcast. Recordings of the webinars are available below.

All sessions qualify for Law Society, Bar Council non-accredited CPD points.

Global M&A – New developments and tactics employed in cross-border takeovers

Date: Tuesday 25 May 2010

Recent takeover activity has suggested increased interest in UK plcs from foreign corporations. In this webinar, our transatlantic panel look at some of the issues and challenges to be addressed in cross-border transactions, and includes members of the team who advised Kraft Foods on its takeover of Cadbury. In addition, the speakers share thoughts on the changing tactics being seen on UK takeovers, and consider the Takeover Panel's approach to such developments.

Speakers: Corporate partners Guy Norman and Patrick Sarch (London), together with Sarah Jones and Ben Sibbett (New York).

Recording available online.

Global M&A – The landscape for inbound investment into China – Have the tables turned?

Date: Friday 21st May 2010

Despite the significant fall-off in global FDI, investment into China continues to grow rapidly with Chinese domestic consumption fuelling much of the appetite. While reasons for inbound investment have evolved, with consequent changes to the nature of transactions, so too has the regulatory environment within China with maturing regimes for particular industries, the Foreign Investment Catalogue and the first landmark rulings under the Anti-Monopoly Law implemented last year. The panel explain the implications for inbound investors from these developments.

Speakers: Corporate partners Kathy Honeywood (London and Shanghai), Emma Davies (Shanghai), Terence Foo (Beijing), together with Stephen Harder (Shanghai and Beijing).

Recording available online.

New Law – The Bribery Act 2010 and corporate corruption offences

Date: Monday 10 May 2010

In the UK, the arrival of the new criminal offence of failure by corporate organisations to prevent bribery and the introduction by the Serious Fraud Office of a self reporting regime has increased the focus on anti-bribery systems and controls. This follows on from a series of investigations and fines of non-US companies by the US authorities under the Foreign Corrupt Practices Act (FCPA). For those doing business in the UK, FCPA compliance will no longer suffice. Our transatlantic panel explain how companies operating in the UK may be impacted by the FCPA and the Bribery Act, and how this risk impacts M&A transactions, particularly for financial sponsor acquirers, and outlines the steps that should be taken to mitigate this risk.

Speakers: Litigation and Dispute Resolution partners Roger Best (London), Steve Nickelsburg (Washington) and Consultant George Staple as Chair (London), together with Corporate partner Amy Mahon (London).

Recording available online.

Global M&A – The M&A landscape in India during 2010-2011

Date: Thursday 6 May 2010

Riding on a positive election result a stable Indian government provided a stimulus to the Indian economy helping it to grow at 6.9% in 2009-2010. In the last few months the Indian economy has showed impressive signs of growth and is expected to grow at a pre-crisis rate of 9.2%. The industrial sector in India is expected to be a leader in this growth story for the next 18 months. With Indian capital markets having almost doubled in the last 12 months, international investors are increasingly looking at India. Against this backdrop, our experts provide their perspectives on the opportunities for international investors looking to invest into India and issues to be considered in M&A transactions as well as discuss taxation and other key legislative initiatives being undertaken by the Indian government. They are joined by key partners from our "best friend" in India, AZB & Partners.

Speakers: Senior partner Stuart Popham, founder and senior partner Ajay Bahl of AZB & Partners, partner Vinati Kastia of AZB & Partners, Tax partner Anthony Stewart together with Director of CC Asia Sumesh Sawhney.

Recording available online.

Restructurings throughout Europe – developing themes

Date: Thursday 25th March 2010

Corporates, private equity houses and lenders continue to wrestle with the fall-out from the financial crisis and that debt and balance sheet restructuring still has some way to go. There continue to be new lessons learned from the solutions, challenges and developments found in the restructurings from last year. This webinar looks at the recent legal developments and themes arising from recent European experiences and the panel share their perspectives as to what might be anticipated over the next few months for participants and their advisers.

Speakers: Corporate partners Daniel Kossoff (London), Stefan Sax (Germany) and Insolvency partner Inigo Villoria (Spain) together with Malcolm Sweeting, partner (London).

Recording available online.

Adjusting strategies – Transaction structures for difficult times

Date: Wednesday 11th November 2009

While complex co-investment or joint venture agreements have been seen regularly in some industries as an alternative to conventional M&A, there are an increasing number of transactions being structured using such arrangements to seek to realise latent value, exploit synergies, bridge valuation deltas or enter new markets without requiring full acquisition financing or divestment. The deals tend to be complex, with resultant execution risk and timing uncertainty, but these techniques are becoming increasingly relevant as a response to difficult financing and market conditions. The panel members provide insight into the issues that need to be managed and some of the potential structures and solutions currently being adopted.

Speakers: Corporate partners Spencer Baylin, Nigel Wellings and Patrick Sarch with antitrust partner Greg Olsen.

Currently available online.

Market developments – Restructuring developments and experience during 2009

Date: Friday 6th November 2009

Corporates, private equity houses and lenders continue to wrestle with the fall-out from the financial crisis, over-leveraged balance sheets and company underperformance in weak market conditions. There continue to be new lessons learned from the solutions, challenges and developments found in the restructurings of the past year, as well as implications for junior lenders and shareholders from the recent judgement in relation to IMO Car Wash Group. The panel members have been involved in a number of the key restructurings of the last year and share their perspectives on the legal and market developments and the practical and commercial considerations for participants and their advisers.

Speakers: Restructuring partner Adrian Cohen and Corporate partners Daniel Kossoff and Mark Poulton (London).

Currently available online.

Global M&A – The landscape for inbound investment into India

Date: Wednesday 28th October 2009

FDI into India has been on a steady upward trend for the last 2 decades. Dismantling of Government controls and a rapidly expanding middle class has fuelled India's GDP growth rate and in the early part of this decade Indian corporates started to look outwards. However, uncertain domestic situations and the financial crisis of 2008 slowed down the inflow of foreign equity into India. The positive election results in early 2009 have led to a stable government removing domestic uncertainties and with more than 6% GDP growth for 2008-2009 has made India one of the few economies that is expected to lead the world out of recession. Our experts provide their perspectives on the opportunities for international investors looking to invest into India and the issues to be considered in M&A transactions.

Speakers: Stuart Popham, Bahram Vakil (AZB & Partners), Abhijit Joshi (AZB & Partners), Mark Poulton and Sumesh Sawhney.

Currently available online.

Market developments – The return of IPOs to the London market

Date: Thursday 15th October 2009

The market appears to be warming to IPOs of UK and international companies and interest is building from private equity houses, portfolio companies and other privately held businesses as well as from investment banks. Corporates might also be seeing the possibility of alternative means of raising finance and delivering shareholder returns through demergers of stand-alone businesses. The last 18 months have seen little IPO activity in London and whilst equity markets have been improving, conditions remain uncertain. Our panel provide their perspectives on issues to be faced when IPOs return.

Speakers: London capital markets partners Adrian Cartwright and Iain Hunter (recently returned from Dubai) together with corporate partner Jonathan Beastall (London), head of our UK IPO group.

Currently available online.

Adjusting strategies – Opportunities from revised approaches to outsourcing

Date: Wednesday 14th October 2009

As we start to recede from what some called the "economic abyss", companies everywhere are refocussing their efforts on becoming more agile, profitable and sustainable. Outsourcing projects that had been shelved in the wake of Lehman are once again being dusted off, but whilst they used to be viewed primarily as a way of reducing long-term costs, these arrangements are now increasingly seen as a mechanism that can deliver shareholder value by improving a company's ability to react and adapt to events, foreseen and unforeseen.

Speakers: Partners Andre Duminy (London), Bernd Meyer-Witting (Frankfurt), Daniel Sandelson (London) and Line Poliquin (Amsterdam).

Currently available online.

Global M&A – Effecting China’s outbound expansion and transactions

Date: Thursday 17th September 2009

Emerging markets proved not to have decoupled, but China has proved resilient and possesses enormous reserves to propel its economic development domestically and expansion internationally. Successful acquisitions or strategic partnerships with western companies however, have proved to be challenging and a significant proportion of investment has been directed to regions such as Africa. Our experts address the implications of recent international transactions by Chinese companies, experience to date and likely approaches in the future.

Speakers: Corporate partners Kathy Honeywood (London and Shanghai), Rupert Li (Beijing) and Nigel Wellings (London).

Currently available online.