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COVER STORY

Addressing the digital skills gap

To upskill employees to meet the demand, companies require a clearer understanding of the skills gap and what is needed to fill it.

FEATURES

All quiet on the M&A front?

In the current geopolitical and economic climate, M&A remains challenging. It has become more difficult to agree and complete deals.

Private equity in the US regulatory firing line

Initially proposed in February 2022, the changes will require PE firms and hedge funds to detail all fees and expenses on a quarterly basis.

Empirical illumination: fortifying whistleblowing

A changing landscape, whistleblowing has evolved from being viewed as the mindset of ‘troublemakers’ to being part of a healthy dialogue between an organisation and its workforce.

Future of work: the human-machine interface

Organisations around the world are now realising the power of transformative technologies to blend people, processes and technology. But they need to ensure that technology – often a key driver of disruption – does not usurp the workplace.

Tax transformation: the road ahead for global cooperation

The framework convention can eventually move decision-making on global tax rules from the OECD to the UN.

ROUNDTABLE

Cyber security

Cyber attacks are on the rise, impacting organisations of all sizes across all sectors. Coupled with the use of artificial intelligence, machine learning and other advancing technologies, cyber security is sure to remain at the top of organisations’ cyber risk agenda. FW moderates a discussion between David Navetta at Cooley LLP, Gail L. Gottehrer at Del Monte Fresh Produce Company, George Paraskeva at EmergIn Risk, Jake Moore at ESET, Emilian Papadopoulos at Good Harbor Security Risk Management LLC, and Sarah Armstrong-Smith at Microsoft EMEA.

SPECIAL REPORT

Energy & utilities

Q&A: M&A in the US energy sector

The strategic investments by the largest oil & gas companies in the US oil & gas sector have been remarkable, although it is unclear whether these transactions represent a trend that will continue. FW discusses M&A in the US energy sector with Clint Vince at Dentons, Christopher Gladbach at McDermott Will & Emery and Lance Brasher at Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates.

The decline in growth of the renewables empire

CMS Cameron McKenna Nabarro Olswang LLP While the renewables empire is still growing, the pace of growth seems to have slowed and the number of negative news stories has increased, giving investors and financiers some cause to pause and consider the reasons behind the slowdown.

Will election-year politics imperil the US Inflation Reduction Act?

Dentons Clean energy policy on its own will not drive the ultimate results of the election, but it will be important in terms of larger economic concerns.

Sorry for interrupting: Alberta’s suspension on renewables approvals

Burnet, Duckworth & Palmer LLP Alberta announced an unprecedented suspension of approvals for all new renewable projects over 1 megawatt, beginning in August 2023 and extending until February 2024.

Role of biomethane in the green transition

Norton Rose Fulbright Studio Legale In the context of the National Resilience and Recovery Plan, the green and ecological transition is a key pillar for the development of the Italian economy. And almost €2bn has been allocated for the development of biomethane.

Political priorities affecting the global liquified natural gas trade

Squire Patton Boggs Geopolitics will remap global LNG trade flows and investment, with sanctions leading to the fragmentation of LNG trade flows and dashing hopes that LNG will become a globally traded commodity.

The EPA is undermining the TSCA’s potential to reduce plastic waste

Bergeson & Campbell, P.C. It is easy to forgive a collective lack of appreciation for the adverse effect nomenclature rules have on innovation of new chemicals. It is another matter, however, to justify new initiatives that frustrate pollution prevention.

Q&A: AI and the energy transition

AI can create tremendous value and often has an internal rate of return of 40 percent or more, but upfront costs can be high. FW discusses AI and the energy transition with Riz Sahib at BDO.

TALKINGpoint

EU and UK inbound FDI regimes

The increased scrutiny has made it more challenging for parties to assess FDI-related risks, potentially leading them to abandon the transaction. FW discusses EU and UK inbound FDI regimes with Morten Nissen, Stephan Waldheim, Janneke Kohlen, Anthony Rosen and Baptist Vleeshouwers at Bird & Bird.

Transactional risk in Europe

Insurers are beginning to marry the traditional legal agility of W&I underwriting with lessons learned from more ingrained lines of insurance around portfolio management. FW discusses transactional risk in Europe with Bryan Dressler at Markel International.

DEALfront

mergers & acquisitions

Roche strikes $7.1bn deal for Telavant

In a move to restore its drug development record following major late-stage trial setbacks, Swiss multinational healthcare company Roche is to acquire bowel drugmaker Telavant Holdings, Inc. in a transaction valued at $7.1bn.

Suncor Energy strike $1bn TotalEnergies deal

Suncor Energy has announced the $1.07bn acquisition of the Canadian operations of French energy firm TotalEnergies in a deal which will boost the company’s bitumen production capacity.

private equity & venture capital

Vista Equity Partners to acquire EngageSmart for $4bn

In a deal that takes the software company private, EngageSmart, Inc. is to be acquired by an affiliate of US private equity firm Vista Equity Partners in an all-cash transaction valued at approximately $4bn.

Arriva sold to I Squared

Three years after it was initially put up for sale by its owner Deutsche Bahn, Arriva has been sold to private equity firm I Squared Capital.

bankruptcy & corporate restructuring

Rite Aid files for Chapter 11

US drugstore chain Rite Aid filed for Chapter 11 bankruptcy protection in October in a bid to turn around its ailing business and significantly reduce its debt load.

Prima Wawona enters bankruptcy

After losing nearly all of its value leaving it $1bn in debt, the industry’s largest producer of stone fruit Prima Wawona is transitioning ownership of the company and recapitalising its business.

SPOTlight

Navigating M&A deal clearance in a complex regulatory environment

Davis Polk & Wardwell London LLP Despite similarities in the toolkits of global regulators to review transactions, transacting parties face meaningful risks of divergent outcomes.

The state of foreign investment review in Canada

Davies Ward Phillips & Vineberg LLP The last few years have seen unprecedented government and public attention on FDI into Canada and whether the Investment Canada Act is ‘fit for purpose’ to address the issues of concern relating to such investments.

European private banks facing cross-border investigations and litigation: practical considerations

Mayer Brown European private banks are disproportionately exposed to higher anti-corruption, sanctions and anti-money laundering enforcement risks.

In the eye of the storm: financial crime compliance in volatile times

Brown Rudnick LLP Professionals should be mindful that, in an era of protective policies by states and tensions in different geographies, horizon scanning is more critical than ever.

China moves away from absolute immunity

Quinn Emanuel Urquhart & Sullivan LLP Parties will be able to sue foreign states in China, Hong Kong and Macau, and also enforce against their commercial assets without the need to obtain a waiver of immunity from that state.

Key takeaways for business from the 2023 EU Tax Symposium

Allen & Overy LLP Collaboration was seen as the key to improving compliance, growing tax revenues, increasing trust and preventing avoidance across almost all areas of taxation.

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CONTRIBUTORS

Allen & Overy LLP

BDO

Bergeson & Campbell, P.C.

Bird & Bird

Brown Rudnick LLP

Burnet, Duckworth & Palmer LLP

CMS Cameron McKenna Nabarro Olswang LLP

Cooley LLP

Davies Ward Phillips & Vineberg LLP

Davis Polk & Wardwell London LLP

Del Monte Fresh Produce Company

Dentons

EmergIn Risk

ESET

Good Harbor Security Risk Management LLC

Markel International

Mayer Brown

McDermott Will & Emery

Microsoft EMEA

Norton Rose Fulbright Studio Legale

Quinn Emanuel Urquhart & Sullivan LLP

Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates

Squire Patton Boggs