MAGAZINE
July 2021 Issue
Financier Worldwide Magazine
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COVER STORY
Driving culture – the role of the CCO
The complexity of political, regulatory and supervisory pressures on companies means they cannot afford to neglect their compliance function. Culture and governance are essential, and the process starts at the top. To that end, one of the most important members…
FEATURES
UK/EU free trade agreement: impact on financial services firms
Financial services has been an area of intense debate in the UK, given the country’s economic reliance on the industry and the importance of its relationship with the EU. Prior to Brexit, around 40 percent of UK financial services trade came from the EU, but this figure is likely…
Blueprint for better: building a sustainable world
The world is at a crosswords in terms of ecological and financial sustainability. Across the globe, structural reform is required to finance a transition to sustainable economies – a need accelerated by a coronavirus (COVID-19)-shaped backdrop of geopolitical and economic shifts…
New rules for a new world: future-proofing leadership
Following more than a year of unparalleled disruption to their operations, companies’ upper echelons are increasingly contemplating the nature and style of their leadership in what is likely to be a radically different future business environment. Deep, far-reaching…
Human touch: resetting the digital customer experience (DCX)
In a rapidly digitalising world, it is easy for organisations processing multiple digital transactions to lose sight of what is surely the most important aspect of their business: the human. Such inattentiveness is an accusation often laid at the door of the banking sector…
Technology in the fight against corruption
Bribery and corruption interfere with the proper functioning of competitive markets and erode trust in businesses. Worldwide, bribery is estimated to cost as much as $2 trillion a year, according to the International Monetary Fund (IMF), while the United Nations (UN) reports that…
ROUNDTABLE
THE PANELLISTS: Mark E. McDonald at Cleary Gottlieb Steen & Hamilton LLP, John F. Sylvia at Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., Michael S. Hines at Skadden, Arps, Slate, Meagher & Flom LLP, Matthew A. Schwartz at Sullivan & Cromwell LLP, and Hayley Lund at Weil, Gotshal & Manges (London) LLP.
While coronavirus (COVID-19) temporarily halted the steady rise in shareholder disputes seen in recent years, shareholders still found time to file a range of claims, including allegations of a lack of diversity among boards of directors and senior management, as well as new categories…
SPECIAL REPORT
Q&A: M&A digitalisation trends and opportunities
FW discusses M&A digitalisation trends with Timo Klees and Clément Mengue at PwC.
International M&A trends – deal drivers and hotspots
Freshfields Bruckhaus Deringer The second half of 2020 saw an unprecedented fightback in dealmaking following the stasis caused by the pandemic. And as far as deal data for Q1 is concerned, the bull run that began in Q3 2020 seems to show no signs of slowing. Mergers & acquisitions (M&A) in the first three…
Board role in M&A transactions: practical implications of directors’ duties
Norton Rose Fulbright The M&A market has been ramping up since mid-2020 following the initial slowdown triggered by the coronavirus (COVID-19) pandemic. It is a trend which the majority of commentators expect to continue through 2021, driven by significant cash reserves accumulated…
Considerations and challenges in evaluating ESG factors in the M&A context
K&L Gates LLP Environmental, social and governance (ESG) matters have been the subject of increasing attention over the last decade. But only recently have people begun to focus on how ESG considerations fit into existing frameworks for M&A analysis and corporate investment decisions…
National security considerations when investing in Canada
McCarthy Tétrault LLP Foreign investment in Canada is regulated under the Investment Canada Act (ICA). Originally, Canada’s foreign investment review regime was created to empower the government to review significant foreign investments to determine their net economic benefit to Canada…
Convertible loans granted to Spanish non-listed companies: key features
Cases & Lacambra The most common sources of financing for Spanish non-listed companies are equity invested by shareholders and bank financing. Direct lending has also become increasingly popular. Over the last decade, however, a number of convertible loans have also been granted…
Current issues in Australian takeovers
Herbert Smith Freehills The Australian M&A market, like many others, is very active. This article covers the state of the market along with some topical deal structures and recent changes to Australia’s foreign investment regime. 2020 proved to be a year of two halves. The first half was dominated by…
Q&A: Outlook for M&A activity: challenges and opportunities
FW discusses the outlook for M&A activity with James Fletcher at Ashurst LLP, Jerry Dentinger at BDO, and Ani Kusheva at Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates.
TALKINGpoint
FW discusses contingent risk insurance with Andrew Mutter and David Barnes at CAC Speciality.
Risk management in the healthcare sector
FW discusses risk management in the healthcare sector with Karin Landry at Spring Consulting Group.
DEALfront
mergers & acquisitions
Grace goes private in $7bn deal with Standard Industries Holdings
In a deal which takes the global specialty chemical firm private, W. R. Grace & Company is to be acquired by privately-held global industrial company Standard Industries Holdings in a deal valued at $7bn. Under the terms of the definitive agreement…
DSV Panalpina buys Agility unit for $4bn
Logistics company DSV Panalpina has entered a definitive agreement to acquire Agility Public Warehousing Co’s Global Integrated Logistics business in all-share transaction that values Agility at $4.2bn. The acquisition will make DSV Panalpina the third-largest logistics…
private equity & venture capital
Thoma Bravo to buy Proofpoint for $12.3bn
In a deal described as underlining its status as a powerhouse in the sector, cyber security and compliance company Proofpoint is to be acquired by private equity (PE) firm Thoma Bravo. Under the terms of the definitive agreement, Proofpoint shareholders will…
Bain consortium secures $7.5bn Hitachi Metals deal
A consortium led by private equity firm Bain Capital has agreed to acquire all of the shares of Hitachi Metals Ltd in a deal worth $7.5bn. Under the terms of the deal, the consortium, which includes two Japanese funds – Japan Industrial Partners and Japan Industrial Solutions…
bankruptcy & corporate restructuring
Interjet looks to restructure debt in bankruptcy
Budget Mexican airline Interjet has filed for bankruptcy protection in Mexico, a move that would enable the company to resume payments to employees that have been frozen for several months. Interjet, which is now controlled by businessman Alejandro del Valle…
My Alarm Center to restructure via Chapter 11 bankruptcy
In a blow to the US residential security industry, home security system company My Alarm Center has filed for Chapter 11 bankruptcy protection and will restructure under a prepackaged plan of reorganisation. According to its bankruptcy filing, My Alarm Center, which was…
SPOTlight
PE in Indonesia: major updates on laws and regulations
Ali Budiardjo Nugroho Reksodiputro (ABNR) Indonesia made major changes to its investment regime at the end of 2020. The process began with the issuance of Law Number 11 of 2020 on Job Creation (Omnibus Law) which amends and revokes approximately 76 previously existing laws and regulations. Following the introduction…
Avoiding costly supply chain disruption: a cautionary tale
Bergeson & Campbell, P.C. By any independent standard, the US electronics industry is huge – it was worth over $300bn in 2019 – and growing annually. Would it surprise you to know that as big, essential and powerful as it is, a single rule issued in January of this year by the US Environmental Protection…
The risks of digitalisation in the context of cyber security – phishing
Teichmann International (Schweiz) AG Digitalisation is permeating society like never before – not least due to the COVID-19 pandemic which has caused a relocation of most economic and social interactions online. Even before the pandemic, digitalisation was impacting the lives of many within the scope…
Economic consequences of stranded assets for energy market participants
Sheppard Mullin The changes brought about by evolutions in renewable energy technologies are upending traditional relationships between different forms of energy, the customers that use them, the enterprises that construct and operate facilities and financial institutions…
Alberta’s new focus on critical minerals
Burnet, Duckworth & Palmer LLP On 11 March 2021, the Canadian government released an updated list of ‘critical minerals’, minerals considered critical for the sustainable economic success of Canada. The list is set out in the Canadian Minerals and Metals Plan (CMMP) and is comprised of 31 minerals that the…
CONTRIBUTORS
Ali Budiardjo Nugroho Reksodiputro (ABNR)
Ashurst LLP
BDO
Bergeson & Campbell, P.C.
Burnet, Duckworth & Palmer LLP
CAC Speciality
Cases & Lacambra
Cleary Gottlieb Steen & Hamilton LLP
Freshfields Bruckhaus Deringer
Herbert Smith Freehills
K&L Gates LLP
McCarthy Tétrault LLP
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
Norton Rose Fulbright
PwC
Sheppard Mullin
Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates
Spring Consulting Group
Sullivan & Cromwell LLP
Teichmann International (Schweiz) AG
Weil, Gotshal & Manges (London) LLP