Clifford Chance today announced its results for the year ended 30 April 2013.

    Revenues were £1,271 million (USD1,995 million; EUR1,551 million), broadly flat year on year excluding the effect of exchange rate movements (in Sterling, down 2%)
    Partnership profit was £404 million (USD634 million; EUR493 million), 6% lower than the previous financial year
    Profit per equity partner was £1 million (USD1.5 million; EUR1.2 million), 9% down on the previous financial year

Business law firm DWF has announced that its Corporate team achieved, in the half year to June 2013, an aggregate deal value of more than £830m for its corporate transactions. The figures are part of global information services company Corpfin Experian’s deals database.

Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has acted for Nordea Bank Norge ASA (“Nordea”) as lead arranger on the extension of an original loan facility of, originally, US$300 million to Euronav NV, one of the world’s leading independent tanker companies.

Ashurst is advising Kazakhmys' sponsors, Citi and JPMorgan Cazenove in relation to the £3 billion offer for Eurasian Natural Resources Corporation (ENRC) by a consortium in order to take the mining group private. The consortium comprises the mining group's founders Alexander Machkevitch, Alijan Ibragimov and Patokh Chodiev along with the Kazakh government. Under the terms of the offer, Kazakhmys will be entitled to a cash consideration of US $887 million and 77,041,147 of its own shares (which will be acquired by way of a share repurchase).

Hogan Lovells has advised UBS AG ("UBS") as lead financial adviser and Standard Chartered Bank (Hong Kong) Limited ("Standard Chartered Bank") as joint financial adviser to China Mengniu Dairy Company ("Mengniu") on its voluntary general offer for Hong Kong-listed Yashili International Holdings ("Yashili"), one of the largest domestic pediatric milk formula producers and retailers in China. The cash and share offer values Yashili at HK$12.64bn (US$1.63bn).

The offer is for all outstanding shares in Yashili not already owned by Mengniu.

In Singapore, international law firm Ince & Co has advised Gunvor Singapore Pte Ltd, a wholly-owned subsidiary of Geneva-based energy trader Gunvor Group, on its US$850 million syndicated revolving credit facility (RCF) from a syndicate of 24 international financial institutions. The RCF, which closed 6 June 2013, includes a US$135 million three-year tranche and a US$715 million one-year tranche.

Law firm CMS has advised Ceska sporitelna, a.s. on a EUR 50 million loan to Central European betting operator Fortuna Entertainment Group N.V. (“Fortuna”). The loan will be used to refinance Fortuna’s existing bank debt, for dividend and share premium distribution and for investments into product development in the area of sports betting.

DLA Piper has advised BNP Paribas, Commerzbank and SACE in a €55,200,000 medium-term, multi-obligor, financing for the major Italian contractor, Tenova S.p.A.. One of the two credit facilities made available under the financing, is partially covered by an internationalisation guarantee issued by SACE, the Italian Export Credit Agency.

International law firm Clifford Chance has advised Valinor, one of the largest agricultural businesses in the CIS both in terms of cultivated land area and crops harvested, on up to USD 20 million financing from Deutsche Bank AG. The proceeds of the loan will be used for the working capital financing.

Allen & Overy LLP advised Asklepios Kliniken GmbH in connection with a EUR 325 million syndicated credit line.

In this transaction, Allen & Overy advised Asklepios for the first time and was represented by partner Dr. Neil George Weiand and counsel Bianca Engelmann (both banking and finance, Frankfurt).

http://www.allenovery.com/news/en-gb/articles/Pages/Allen--Overy-ber%C3…