A&O Shearman

It was great to welcome clients from around the world to our M&A Academy this week in London. With 56 attendees from 50 organizations and 15 countries, the event featured a team of speakers from across our network providing invaluable insights into the ever-evolving M&A landscape. The Academy covered a broad range of topics, including running a successful auction, navigating the regulatory landscape, global trends in private M&A, specialist traps in M&A, the impact of tariffs and export controls, the use of artificial intelligence in M&A, and litigators’ top tips for avoiding M&A disputes. Beyond the sessions, the event also provided a fantastic opportunity for our clients to network with their peers and our team of experts. Key insights included: ? M&A markets have been unsettled over the last couple of months. ? There are plenty of thorny issues on the regulatory front that need careful consideration. ? The use of AI in M&A processes is rapidly increasing. Thank you to everyone who attended, we look forward to continuing these important conversations and collaborations. #AOShearman #MergersAndAcquisitions

The energy sector is evolving rapidly. Hitachi Energy India Limited’s recent INR25.2 billion Qualified Institutions Placement (QIP) marks a pivotal moment for the company. This capital raise not only provides the necessary funds for expansion but also underscores the growing demand for advanced energy solutions in the region. As the sector shifts towards sustainable and innovative technologies, Hitachi Energy India Limited is well-positioned to capitalize on these emerging opportunities. Our team was led by partners Daniel Mitz, Christopher Forrester, Pallavi Gopinath Aney and Kyungwon (Won) Lee and comprised Rami Marginean, Nabil Shadab, Shinjan Alok, and Derek Perriam. Read more here https://lnkd.in/eahbjYAy #AOShearman #EnergySector #Indianequitymarkets

The successful USD11.5 billion restructuring of Shimao Group Holdings stands as a testament to the power of strategic collaboration and innovative problem-solving. This achievement, facilitated through a court-sanctioned Hong Kong scheme of arrangement, highlights the critical role of building inter-creditor consensus in navigating complex financial challenges. Shimao, a major player in the Chinese real estate sector, faced significant operational disruptions due to the COVID-19 pandemic and the broader distress in Mainland China's real estate market. The restructuring process, which spanned over three years, underscores the importance of resilience and adaptability in the face of unprecedented challenges. The core deal team was led by partner Viola Jing, with support from Ian Chapman, Leona Healey, Jack Kwan and Tomson Pong. Read more about the deal here https://lnkd.in/ecMPqCrD #AOShearman #Finance #Restructuring

We advised The Dow Chemical Company, a subsidiary of Dow Inc., in connection with Dow’s USD1bn bond offering and concurrent cash tender offer to purchase certain of its debt securities and certain debt securities of Rohm and Haas Company and Union Carbide Corporation, each a subsidiary of Dow. Proceeds from the bond offering were used to finance the tender offer. Dow is one of the world’s leading materials science companies, serving customers in high-growth markets such as packaging, infrastructure, mobility and consumer applications. Dow operates manufacturing sites in 30 countries and employs approximately 36,000 people. In 2024, Dow delivered sales of approximately USD43bn. Capital markets partners Richard Alsop and Erika Kent led the team alongside associates Ilya Mamin and Danish Hyder and law clerk Joseph Tambasco, with additional cross-practice support provided by the wider teams. Get an in depth look at the broader team involved and the transaction here: https://lnkd.in/eQrX9AnK #AOShearman

In the latest instalment of our "MiCAR under the microscope" series, we focus particularly on the capital requirements for issuers of ARTs and CASPs. The MiCAR framework mandates that ARTs and CASPs adhere to specific prudential standards that address the unique nature and risks associated with their operations. Discover more here: https://lnkd.in/e3cikMwK #MiCAR #Fintech #CryptoAssets #AOShearman

It was great to host our Private Capital Forum this week in London, focusing on risk and reputation. It was a day full of thought provoking discussion, and it also provided an opportunity for clients to network with their peers and A&O Shearman experts. Partners from our global network covered the critical risk areas for private capital, including geopolitics, employment, regulatory and antitrust. We ended the day with a high-level overview of AI risks and a live demo of GenAI tools that we offer to clients. Here are some key takeaways: - In the employment space, we noted the importance of due diligence in the U.S. and beyond to protect companies from reputational damage. A widespread understanding of the importance of training, policies and succession plans was deemed essential to avoid pitfalls. - Sectors where Antitrust scrutiny is expected to continue include those that have a direct impact on consumers, such as energy, healthcare and transport, and also technology. - The U.K. and U.S. government oversight is tempered by both countries being increasingly focused on stimulating growth and competitiveness; and we are seeing de-regulation and loosening of enforcement in the U.S. in traditionally highly regulated areas. - Generative AI reasoning models are becoming incredibly advanced, enabling a move to agentic AI which will be a gamechanger. You can stay informed on relevant developments by visiting our Private Capital Insights Hub: https://ow.ly/w1Xt50VkXxW #AOShearman #PrivateCapital

Explore 2024’s evolving antitrust enforcement landscape, with record penalties and a heightened focus on digital markets. Our report highlights emerging trends and regional differences that will shape company practices in the coming year and beyond. Key insights include: - Digital markets start to face new regulation - Cartel fines drop, but dawn raid activity keeps rising - EU abuse of dominance regulators target Big Tech Dive into our latest insights, based on data from 31 jurisdictions: https://lnkd.in/eDCJgSb9 #AOShearman

A&O Shearman's merger of two historic law firms called for a website that reflected their new brand and mission of delivering world-class solutions. That’s where Hugo & Cat and Sitecore came in, partnering to help the team deliver a standout digital experience in just four months! Check out what Nick Tipping, Global Head of Digital & Marketing Technology, has to say about designing a client-first digital journey. ?? See why we’re trusted by digital visionaries worldwide. https://lnkd.in/gDnMbrsx #PowerToBuild #DigitalExperience #XMCloud

"We are thrilled to have hosted 85 clients from 46 funds and banks at our first Restructuring Academy in London as a combined firm. This event underscores the importance of collaboration and the power of shared insights. By fostering these connections and sharing our expertise, we are better equipped to navigate the evolving financial landscape together." — Katrina Buckley, co-head of global restructuring. Partners from across the network shared the global restructuring team’s outlook for 2025. Take a look at some key takeaways from the event. - The increasing complex and contentious nature of restructurings, as exemplified by recent challenged English restructuring plans such as Sino-Ocean and Cineworld, and the growing interest in the potential of liability management exercises in Europe. - The challenges and opportunities arising with distressed credits with both the panel and the audience picking out the real estate, retail and automotive sectors as potential areas of focus in 2025. - Tools available to debtors and creditors to help structure deals across borders including a range of new court-based cram down procedures in Europe, such as the Spanish restructuring plan, the Dutch WHOA and the Italian debt restructuring agreement, which can be combined with other processes overseas to deliver holistic multi-jurisdictional restructurings. Learn more about our global restructuring outlook for 2025 here: https://ow.ly/O99T50ViYY4 #AOShearman #Restructuring

In the latest episode of our Restructuring Across Borders podcast series, colleagues from the U.S., U.K., Netherlands, and Hong Kong delve into the current landscape of third-party releases in restructurings within their respective jurisdictions. This discussion follows the landmark decision by the U.S. Supreme Court in Harrison v. Purdue Pharma L.P. The episode explores the implications of this decision for cross-border restructurings and parallel processes that incorporate such releases, as well as the recognition of these proceedings in the U.S. Tune in to gain valuable insights: https://lnkd.in/essQ26jm #AOShearmanRestructuring #AOShearman