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Clifford Chance successfully represents FairSearch and Seznam in Google Android antitrust proceedings in the EU

Fri, 03 Jul 2026 14:36:09 GMT

Clifford Chance has been at the heart of this case from the outset, acting for FairSearch, the organisation that made the original complaint to the European Commission, and for Seznam, a leading Czech search engine and direct competitor of Google that has been damaged by Google’s abuse of its dominant position.

Thomas Vinje, Chairman Emeritus of the Global Antitrust Group at Clifford Chance, said: "Today consumers and competition in digital markets won an important victory in Europe's highest court against Google's anti-competitive conduct in mobile markets. We are pleased to have been present since the start of the case and look forward to further implementation of the principles pursued by the complainants and the European Commission in this case."

Ashwin van Rooijen, Antitrust Partner in Clifford Chance’s Brussels office, remarked: "Google Android has made headlines for its record antitrust fine. But to our clients, it marked the start of necessary global scrutiny of mobile ecosystems, continuing under the EU DMA and similar laws around the world."

Milena Robotham, Antitrust Partner, also based in Brussels, further commented: "The Google Android judgment is a defining milestone in the evolution of EU antitrust enforcement. Beyond representing a significant win for the European Commission and for our clients, the judgment provides important guidance on the assessment of exclusionary conduct in digital markets that will shape Article 102 enforcement for years to come."

The Clifford Chance team in Brussels and Prague who have worked on this matter over the years include Thomas Vinje, Dieter Paemen, Ashwin van Rooijen, Milena Robotham, Aleksander Tombiński, Katharine Missenden, Jan Dobry, Miloš Felgr, Maarten Kennis, Ana Hergouth, Bram van der Beken, Victoria Baltrusch and Maria Sowinska.

Press Contact : Chanelle Mutawe

Clifford Chance advises Morgan Stanley on €150 million senior preferred notes issuance by Gorenjska Banka

Fri, 03 Jul 2026 10:15:00 GMT

The transaction marks a further milestone in Gorenjska Banka's access to the international debt capital markets and supports the bank's ongoing funding and capital strategy. The notes were issued on a standalone basis and are structured as senior preferred resettable instruments in line with applicable regulatory requirements.

The issuance comprised €150 million senior preferred resettable notes with a final maturity in 2032 and a first reset date in 2031. The notes are listed on the Euro MTF market of the Luxembourg Stock Exchange.

The transaction was successfully placed with institutional investors, reflecting continued investor demand for bank capital instruments from the Central and Eastern European region.

The Clifford Chance team was led by partner Cristina Freudenberger and included transaction lawyers Lilli Neubauer and Felicitas Fischer (all Capital Markets, Frankfurt) and Senior Associate Maria de Elizalde (Capital Markets, Madrid).

Press Contact: Nadja Fersch

Clifford Chance advises on the investment in Flannery Plant Hire by DWS

Fri, 03 Jul 2026 09:41:13 GMT

DWS has acquired its interest from the Flannery family and management, with the Flannery family retaining a significant ownership stake in the business. Patrick and Martin Flannery will continue to lead the company as joint CEOs. The investment supports Flannery's next phase of growth as demand for infrastructure investment continues across the UK, including major projects in transport, energy and utilities.

The Clifford Chance team was led by partner Julia House, with support from senior associate Louise Baxter and associate Nourhan Marouf. Partner Will Winterton and senior associate Rachel Robertson advised on hedging and partner Jemma Dick and associate Cheryl Yip advised on tax. Partner Thomas Fisher and associate Shoshana Leibovici advised on corporate aspects.

Press Contact : Chanelle Mutawe

Clifford Chance advises Home Invest Belgium on its strategic negotiations with UCLouvain

Thu, 02 Jul 2026 13:34:31 GMT

The agreement enables Home Invest Belgium to secure the continuation of key residential assets and supports the long-term value of the portfolio, allowing it to retain significant contractual rental income and continue its long-term residential investment strategy in Louvain-la-Neuve.

Clifford Chance assisted Home Invest Belgium throughout the negotiations and structuring.

The Clifford Chance team was led by partner Henri d'Ursel and included Dorothée Vermeiren, Niek De Pauw, Alexandre Ooms, Omar Arab, Inès Mahaux, Harold Legrand and Maxime Vander Motten.

Press Contact: Marion Meunier

Clifford Chance advises Nextensa, Group Promobe and Grossfeld on Stairs project sale in Luxembourg

Thu, 02 Jul 2026 13:33:00 GMT

With a transaction value exceeding €100 million, this is Grossfeld's second major real estate deal of the year in Luxembourg and a significant moment for the office property market.

Stairs is the first building in Luxembourg to achieve BREEAM Outstanding certification, the highest level of the internationally recognised environmental standard. It also holds WELL Gold certification and an A+ energy rating.

Located in the Cloche d'Or district, the project sets a benchmark for sustainable and future-proof office development.

Clifford Chance supported Grossfeld at every stage of the project, contributing to the development of high-quality real estate in Luxembourg.

The team was led by Senior Counsel Sébastien Schmitz and included Senior Associate Alma Custovic and Associate Johanna Mazy.

Press Contact: Natalia Ibáñez Guinea

Clifford Chance advises Aikido Security on its acquisition of Root

Thu, 02 Jul 2026 13:33:00 GMT

Clifford Chance has advised longstanding client Aikido Security, one of Europe's fastest-growing cybersecurity companies, on its acquisition of Root, a US-based cybersecurity company specializing in automated vulnerability remediation for open-source software.

The acquisition marks a key milestone in Aikido's expansion and strengthens its capabilities in software supply chain security. By integrating Root's technology into its platform, Aikido will enable organizations to remediate vulnerabilities in open-source software more efficiently, helping developers address security risks without requiring complex software upgrades or migrations.

Founded in Belgium, Aikido has rapidly established itself as a leading cybersecurity platform for developers. Earlier this year, the company achieved unicorn status following its US$60 million Series B financing round, on which Clifford Chance also advised. The acquisition of Root further supports Aikido's continued growth and strengthens its position in the fast-evolving software security market.

The Clifford Chance team was led by Kevin Lehpamer and Gillis Waelkens and included Peter Guinnane, Sebastien Nerincx, Daviel Rodriguez and Shuhan Liu.

Clifford Chance advises Generation Investment Management on the final close of Sustainable Private Equity Fund II

Thu, 02 Jul 2026 12:31:40 GMT

The team advising Generation Investment Management was led by private funds partner Gerard Saviola with partners Lily Marcel, Laura Underhill and Isabella Mashru, counsel Gabby Kellogg, senior associate Marina Naydenov and associate Sam Robinson.

Read more here.

Press Contact: Sonia Malhotra-Denny

Clifford Chance advises private credit funds as lenders on the financing of Eurazeo's acquisition of Nextron Systems

Thu, 02 Jul 2026 08:32:00 GMT

Eurazeo will actively support and accelerate Nextron Systems’ development by further scaling its go-to-market capabilities in a nascent market category, broadening its international footprint, and continuing product innovation. Nextron Systems is particularly well positioned to benefit from the rise of AI, as increasingly sophisticated AI-powered threats drive growing demand for advanced detection solutions. Nextron Systems itself already leverages AI as a technology enabler, enhancing its detection capabilities and accelerating the creation and analysis of its proprietary rule sets.

The Clifford Chance team was led by partner Steffen Schellschmidt (Munich) and partner (Germany) Christoph Nensa and included senior associate Andre Weber (both Frankfurt, all Debt Finance). Olaf Mertgen and counsel Steffen Waadt (both Tax, Frankfurt) advised on tax aspects of the new financing.

Press Contact: Nadja Fersch

Clifford Chance advises Clifford Capital on the Energy Transition Acceleration Finance partnership

Thu, 02 Jul 2026 05:06:00 GMT

ETAF has secured $US345 million in aggregate commitments, building on its US$250 million first close, which included initial investments from the Monetary Authority of Singapore, through Singapore’s Financing Asia's Transition Partnership (FAST-P) initiative, and the Private Infrastructure Development Group, with DBS serving as the inaugural senior debt financier. Temasek is also expected to contribute catalytic capital from its Concessional Capital for Climate Action, funded by Temasek’s community gifts, subject to definitive agreements.

The fund features a complex, multi-layered capital structure comprising senior, mezzanine and junior tranches, designed to accommodate the requirements of both concessional and commercial investors. Clifford Chance advised on the governance and operational framework at both the fund and underlying platform levels.

Kai-Niklas Schneider, Partner, said: “We’re pleased to have advised Clifford Capital on this transaction, which is notable as one of the first fund platforms established under Singapore’s FAST-P initiative. The blended finance structure brings together catalytic capital from the Monetary Authority of Singapore and PIDG with commercial investment, creating a framework to support deployment into earlier-stage and higher-risk energy transition assets.”

Francis Edwards, Partner, and Greater China Head of Structured Finance and Derivatives, said: "ETAF required close coordination across our funds, structured finance and tax teams, to help deliver a sophisticated capital structure capable of accommodating the requirements of different investor groups. Initiatives like this are likely to play an important role in addressing funding gaps across the energy transition space.”

Partners Kai-Niklas Schneider and Francis Edwards led the multidisciplinary, cross-border team, advising on the funds, tax and structured financing aspects of the transaction. They were supported by partners Chin Seng Chew and Richard Kalaher, senior associates Nicholas Henneberry, Hui Qi Lim, Zong Han Low, Violet Marcel and Jonas Vogelberg, associates Zena Anane, Phone Myat Thu and Anjia Zhou, and trainee associates Ben Ng and Lia Tay.

This transaction builds on Clifford Chance’s track record advising on complex investment platforms and capital structures across infrastructure and energy transition, including advising INSITE DC on the launch of a data centre investment platform with Alceon, on the issuance of US$733.3 million infrastructure asset-backed securities (IABS) by Bayfront IABS VIII Pte. Ltd and GreenYellow on a financing of more than €800 million.

Clifford Chance has advised Goldman Sachs International on Dünya Katılım’s inaugural U.S.$100 million Additional Tier 1 (AT1) sukuk issuance

Tue, 30 Jun 2026 09:39:00 GMT

The issuance attracted robust demand from the international investment community - within just two and a half years of the bank's establishment. This transaction marks a significant milestone in further strengthening Dünya Katılım's capital structure and supporting its ongoing growth within Türkiye’s participation banking sector.

The Clifford Chance’s cross-border team advising on the transaction, based in Istanbul and Dubai, was led by partners Stuart Ure and Sait Eryılmaz, supported by legal consultant Brian O'Leary, senior associate Ali Can Altıparmak, and associates Saby Mahmud and Büşra Altuntaş and trainee lawyer Ali Gorji.

Press Contact: Marissa Capsie

Clifford Chance advises on EDEMSA's new notes issuance and related tender offer and consent solicitation

Mon, 29 Jun 2026 16:52:48 GMT

EDEMSA is the largest electricity distribution company in the province of Mendoza, Argentina.

The cross-border team was led by partner Hugo Triaca in New York and included associate Cristian Ragucci in São Paulo and foreign lawyer Juan Andres Bosch in Madrid. Partner Avrohom Gelber in New York provided tax advice.

Clifford Chance has advised on similar transactions across the Latin America market, particularly in Argentina, including on EDEMSA's inaugural notes issuance in 2025 and EDENOR's new notes issuance and concurrent tender offer last month.

Clifford Chance advises the banks on TP’s tender offer and new notes issuance

Mon, 29 Jun 2026 10:21:00 GMT

The tender offer targeted two series of outstanding notes: €500 million 0.250% notes due 2027 and €700 million 5.250% notes due 2028.

Simultaneously, TP issued two new series of fixed-rate senior notes under its EMTN programme, consisting of €700 million due 2032 and €500 million due 2035.

The net proceeds of the issuance were used to finance the tender offer. Following completion of the offer, TP accepted the repurchase of more than €600 million of its outstanding notes.

Clifford Chance advised the banks with a team comprising Cédric Burford, partner, Baya Hariche, senior associate, and Sabrine Kadi, associate.

Press Contact: Laure-Hélène Caillot

Clifford Chance advises on a multi-currency financing for Todoplay in Peru, Chile and Ecuador

Fri, 26 Jun 2026 12:56:00 GMT

The deal team included counsel Alberto Haito (Washington, DC) and associate Maria Fernanda Gadea Rivera (New York).

Clifford Chance advises Copenhagen Infrastructure Partners in securing one of the largest renewable energy project financings in Romania and the wider CEE region to date.

Fri, 26 Jun 2026 08:32:00 GMT

The consortium of local and international commercial banks included Erste Bank and Banca Comercială Română, Deutsche Bank, Société Générale and BRD, Eurobank, and Piraeus Bank. Equity is funded by the project owners: CIP’s Growth Markets Fund II (GMF II) and two co-investors - the European Investment Bank and a Danish pension fund.

The Peștera II onshore wind project is one of the largest wind energy initiatives in Romania, with a total capacity of 392 MW. The project qualified for the Contract for Difference (CfD) support mechanism in the first CfD auction held at the end of 2024, for an installed capacity of 245 MW (the largest wind project to qualify in the auction).

Press contact: Ana-Maria Gavrila

Clifford Chance advises Circuit Fabology Microelectronics Equipment on its US$383 million IPO and listing in Hong Kong

Fri, 26 Jun 2026 08:15:00 GMT

Partners Fang Liu and Virginia Lee co-led the transaction with support from Head of Capital Markets Lorna Lyu*, senior associates Yuhang Li and Meng Mao, associates Janssen Yang and Yvonne Zhu, trainee solicitors Yancy Hua, Cian Fang and Menglin Liang.

Listed on the Shanghai Stock Exchange in 2021, CMFEE engages in the research and development, production, sales and maintenance of direct imaging and direct-writing lithography equipment to customers worldwide, leveraging its established capabilities in the R&D of core high-precision micro-nano lithography technologies. Its commercialised products primarily include PCB (printed circuit board) direct imaging equipment and semiconductor direct-writing lithography equipment, covering applications across PCB, IC (integrated circuit) substrate, advanced packaging and mask-making applications. The company also provides comprehensive after-sales maintenance and support services for its products.

Clifford Chance has advised on the listings of companies across the semiconductor value chain, including the listings of Black Sesame, GigaDevice Semiconductor, Montage Technology, Axera Semiconductor, InnoScience, and Shenzhen Han's CNC Technology.

* From Shanghai He Ping Law Firm. Clifford Chance LLP and Shanghai He Ping Law Firm have established a Joint Operation in the China (Shanghai) Pilot Free Trade Zone under the name Clifford Chance LLP and Shanghai He Ping Law Firm (FTZ) Joint Operation Office with the approval of the Shanghai Bureau of Justice.

Media contact: Fenix Wong

Clifford Chance advises on SG Micro Corp's US$587 million IPO and listing in Hong Kong

Fri, 26 Jun 2026 08:12:00 GMT

Chair of China Practice and partner Tim Wang co-led the transaction with partners Tianning Xiang, Jean Thio and partner of Clifford Chance (Beijing) Claire Cao with support from counsel Erxin Lu, senior associate Yuer Shao, associate Maybel Qian, trainee solicitors Xu Changle, Catherine Xu and Bai Qianqian.

SG Micro Corp is a leading integrated circuit (IC) company specialising in the research, development and sale of high-performance, high-quality analog ICs, particularly for signal chain applications, power management, sensors, and memory ICs. Its products are widely used across sectors including industrial and energy, automotive, networking and computing, and consumer electronics.

Clifford Chance has advised on the listings of several technology companies in China, including the listings of Axera Semiconductor and GigaDevice Semiconductor.

Press contact: Fenix Wong

Clifford Chance advises the European Investment Bank on the first DLT-native commercial paper note issuance on Clearstream's D7 platform

Thu, 25 Jun 2026 16:00:00 GMT

The digitally native commercial paper notes were issued under Luxembourg law and investors were able to take advantage of the recent decision of the Eurosystem to accept marketable assets issued in central securities depositaries (CSDs) using DLT as eligible collateral for Eurosystem credit operations.

Citi acted as sole dealer and issuing and paying agent in connection with the transaction.

Steve Jacoby (partner) said: "It was a pleasure to advise the EIB on yet another innovative issuance of digital securities which adds to our deep experience of advising on first-time transactions on ever-evolving digital market infrastructures."

The cross-border Clifford Chance team was led by partner Steve Jacoby (Luxembourg), with support from counsel Alexander Tollast (Paris) and Boika Deleva (Luxembourg), and trainee solicitor Felicity Marlow (Paris).

Press Contact: Natalia Ibáñez Guinea

Clifford Chance has advised a syndicate of lenders on Wallbox Group debt restructuring

Thu, 25 Jun 2026 14:32:00 GMT

This complex transaction was implemented through a judicially sanctioned restructuring plan, and two framework agreements governing both the new and old money of the group.

Clifford Chance's cross border team involves Spanish, New York, German, Italian, Dutch, Belgian, French and English law teams, and was led by Restructuring Partner Felipe Font in Madrid, supported by Senior Associate Juan Puras, Associates María Vispo and Javier López and Junior Associates Ana de la Torre and Asier Vivanco, together with Litigation Of Counsel Iñigo Villoria and Senior Associate Laura del Campo, and Corporate Consultant Javier García de Enterría.

Clifford Chance’s restructuring team is recognized for its expertise in managing complex restructuring transactions across its global network.

Press contact: Ingrid Cabrera

Clifford Chance advises a subsidiary of Net Zero Properties on acquisition of a 1,010-unit residential portfolio in Northern Germany

Thu, 25 Jun 2026 13:22:16 GMT

The transaction further expands NZP’s German residential platform and strengthens its presence in Northern Germany, increasing density in existing micro-markets where the platform already operates. Completion of the transaction is expected in Q3 2026, subject to customary closing conditions. Following completion, NZP’s total portfolio will comprise more than 15,400 residential units across Germany, with current annual net rental income exceeding €77 million.

ZAGA is a London-based private real estate investment firm. Its flagship ZAGA German Real Asset Opportunities II Fund held a first close in March 2026, securing approximately €500 million of equity commitments.

The Clifford Chance team advising a subsidiary of NZP was led by partner Dennis Blechinger (Real Estate, Munich), with partner Dominik Engl (Tax, Frankfurt) leading the structuring and taxation workstream. The team further comprised counsel Martin Barlösius, senior associates Sabrina Tenebruso and Magda Pawela-Häusler, associate Miriam Sax and senior transaction lawyer Birgit Seyfert (all Real Estate, Munich and Frankfurt), partners Tobias Schulten (Debt Finance, Frankfurt), Saskia Myners (Corporate, Luxembourg), and Mark Aschenbrenner as well as senior transaction lawyer Carina Soesanto (both Private Equity, Munich and Frankfurt), senior associate Tom Bleser (Tax, Luxembourg), transaction lawyer Jule Geiger and tax consultant Leonie Gebauer (both Tax, Frankfurt and Munich).

Press Contact: Lisa Trager

Clifford Chance advises Mobiliare on its US$100 million first sustainability-linked bond issuance

Wed, 24 Jun 2026 19:43:00 GMT

The transaction underscores Mobiliare's commitment to sustainability, linking the company to specific environmental performance targets.

The team was led by partner Hugo Triaca, supported by associate Joyce Moore. The wider team included partners Avrohom Gelber and Jeffery LeMaster, associates Dennis Morrisroe and Wei Bin Tan, and law clerk Javier Melendez.

Clifford Chance regularly advises on similar transactions across the Latin America market, including Mobiliare's debut bond offering, Peru's COFIDE sustainable bond offering and Grupo Energia Bogota's inaugural sustainable bond issuance.