Law Firm News

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Law Firm News

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O'Melveny & Myers, LLP

O'MELVENY & MYERS ADVISING NOVARTIS ON THE ESTABLISHMENT OF A BIOMEDICAL R&D CENTER IN SHANGHAI
O'Melveny & Myers recently advised Novartis Institutes for BioMedical Research, the R&D aim of Novartis Group (NYSE: NVS) on the establishment of an integrated biomedical Research & Development center in Shanghai Zhangjiang Hi-Tech Park, which will become an integral part of the Novartis Group's global research and development network.

The establishment of this US$100 million strategic site is a commitment by Novartis to conduct cutting-edge pharmaceutical research and development in China. It will also enable further expansion of the strong network of existing R&D alliances that Novartis has in China. The research site will start operations in May 2007 and eventually employ 400 mainly Chinese scientists.

The O'Melveny & Myers legal team included partner Kurt Berney and counsel Li Qiang.

Established in 1895, Novartis engages in the research, development, manufacture, and marketing of health care products. It operates in three divisions: Pharmaceuticals, Sandoz, and Consumer Health. Novartis is headquartered in Basel, Switzerland. Its research headquarters, Novartis Institutes for BioMedical Research, has been relocated to Cambridge, Massachusetts.

11-08-2006

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O'Melveny & Myers, LLP

OMM Represents Power-One in Significant Acquisition
An O'Melveny & Myers team, led by Eric Zabinski with assistance from Allison Keller and Jerry Kowal, advised Power-One (NASDAQ: PWER) in an acquisition of the Power Electronics Group of Magnetek Inc. (NYSE: MAG) through a combined asset and stock deal for approximately $70 million plus assumed debt. Power-One is a leading designer and manufacturer of power conversion and power management products with its worldwide headquarters in metropolitan Los Angeles. The target business involved operations in California, Italy, Hungary, China, and Germany.

11-08-2006

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Clifford Chance US, L.L.P.

Clifford Chance advises Haniel on the sale of BELFOR
The international law firm Clifford Chance advised Franz Haniel & Cie. GmbH, Duisburg, on the sale of its subsidiary BELFOR International GmbH, Duisburg, to the newly established BELFOR Holdings Inc., Delaware, USA.

The majority shareholder of BELFOR Holdings Inc. is the current BELFOR Group management team. Franz Haniel & Cie. GmbH has a 25% shareholding in BELFOR Holdings Inc..

The BELFOR Group is the global market leader in managing and repairing fire and water damage. The BELFOR Group employs more than 3,000 people and generated turnover of EUR 673 million in 2005.

The Haniel Group operates internationally and had a turnover of around EUR 26 billion in 2005. It employs approximately 60,000 people and has operations in around 40 countries.

The Clifford Chance team was led by partner Gustaf-Rudolf Schlieper and Counsel Dr. Christoph Holstein (both Corporate Finance, Düsseldorf) and included partners David Brinton (Mergers & Acquisitions, New York), Jay Gavigan (Banking & Finance, London), Philip Wagman (Tax, New York) and Counsel Dr. Jan Dreyer (Corporate Commercial, Düsseldorf), as well as associates Martin Gerner (Corporate Finance, Düsseldorf), Jacqueline Gross-Dagan (Mergers & Acquisitions, Washington), Francis Idehen, Suzanne Miller, Orville Thomas (all Banking & Finance, London) and Joseph Calto (Tax, New York).

11-08-2006

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Clifford Chance US, L.L.P.

Clifford Chance advises Eckes on the sale of its German wine and spirits business
The international law firm Clifford Chance advised the Eckes Group, Nieder-Olm, on the sale of its German wine and spirits operations, Eckes Spirituosen & Wein GmbH, to Rotkäppchen-Mumm Sektkellerei GmbH, Freyburg. The sale will take effect as of 31 December 2006. The parties have agreed not to disclose any details of the purchase price.

Eckes Spirituosen & Wein GmbH employs 210 people and generated turnover of around EUR 250 million in the 2005 fiscal year. Rotkäppchen-Mumm will assume brands such as Eckes Edelkirsch, Chantré, Mariacron and Echter Nordhäuser. The Eckes Group's international wine and spirits business, Eckes & Stock GmbH, will remain unchanged.

The Clifford Chance team was led by Counsel Stephan Gittermann (Corporate Finance) and included partners Berndt Hess (Corporate Commercial), Dr. Stefan Behrens (Tax) and associate Nico Naumann (Corporate Finance), all Frankfurt.

11-08-2006

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Morgenstein & Jubelirer LLP

WORTH MAGAZINE'S TOP 100 ATTORNEYS LIST HONORS SCHIFF HARDIN LLP PARTNER DAVID R. HODGMAN
Worth magazine, in its December 2006 edition, has named Schiff Hardin LLP partner David R. Hodgman to its prestigious and second-annual list of Top 100 Attorneys. This honor recognizes lawyers with imagination, experience, and a keen sense of service to affluent individuals. Mr. Hodgman also was named one of the "four most insightful members of [the] top 100 to address the particularly vexing topics," and he bylined an article on "Global Strategies" for this edition of Worth.

Mr. Hodgman leads Schiff Hardin's nationally respected Private Clients, Trusts and Estates Group, and he is resident in our firm's Chicago office. He also serves on our firm's Executive Committee. Mr. Hodgman has represented numerous corporate and individual fiduciaries with respect to federal and state income and estate tax disputes as well as other, non-tax matters including fiduciary liability litigation. A significant amount of his work also involves estate, gift, and income tax planning for families and individuals including tax planning for closely held family businesses. He has published in professional journals and delivered papers to other practicing lawyers and accountants on the subjects of federal estate tax valuation and audit procedures, income taxation of trusts and estates, closely held family business interests, retirement benefits, treatment of terminally ill patients, private foundations, charitable lead and remainder trusts and other sophisticated estate planning techniques for high net worth individuals.

11-07-2006

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Brown, Raysman, Millstein, Felder & Steiner, L.L.P.

Thelen Reid Set for New York Merger
San Francisco-based Thelen Reid & Priest and New York's Brown Raysman Millstein Felder & Steiner have confirmed they are to merge, creating a 250-partner, 617-lawyer national firm with an estimated $400m (£210.21m) annual turnover.

The firm will be known as Thelen Reid Brown Raysman & Steiner and will be co-chaired by Thelen Reid chairman Stephen O'Neal and Brown Raysman managing partner Julian Millstein.

The firm will conduct a comprehensive compensation review in the new year to determine equity status for the new partners. The combined turnover would have ranked the merged firm at 66 in The Lawyer Global 100 2006, just ahead of Bryan Cave.

The merger will give the firm 255 lawyers in New York and 242 in California, primarily in San Francisco and Los Angeles. The merged firm will also have a 70-lawyer Washington DC office, as well as the Shanghai base that Thelen Reid opened in late August. . . .

. . . In 2003 Thelen Reid formed a strategic partnership with Masons, before it merged with Pinsent, to create Masons Thelen Reid, a specialist construction, engineering and infrastructure practice. Masons' construction team has worked with Thelen Reid on a number of projects around the world. . . .

. . .Tony Bunch, head of international development at Pinsent Masons, said: "I think it's a good move as we perceive it, insofar as they'll bulk up in New York.

"From our point of view, the relationship with Thelen Reid is based heavily on the infrastructure and construction side. Adding a media and IP/IT capacity presents the opportunity to widen the relationship.

11-07-2006

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Brown, Raysman, Millstein, Felder & Steiner, L.L.P.

Merger Mania Hits Metro Firms
Partners at California-based Thelen Reid & Priest and New York-based Brown Raysman voted on Oct. 30 to combine the two firms. Based on last year's revenue, the new 617-lawyer entity would have placed 56th on the Am Law 100 list of the nation's top-grossing law firms.

The firm will be called Thelen Reid Brown Raysman & Steiner, and will be co-chaired, for two-and-a-half years, by Stephen O'Neal, Thelen's chairman, and Julian Millstein, Brown's co-managing partner.

Thelen, strong in "old economy" practices such as energy and construction, is a good match for Brown Raysman's expertise in technology, intellectual property and media law, O'Neal said. "By joining the two, it's the best of both worlds."

The combined firm will have 255 lawyers in New York. Despite Thelen's merger with N.Y.-based Reid & Priest in 1998, Thelen now has just 78 lawyers there. Brown has only 20 lawyers in California.

Partners at the combined firm will be slotted into San Francisco-based Thelen's two-tier system of equity and non-equity partners. "It works awfully well," O'Neal said. "It's served us well for 82 years.” . . .

. . .Richard Gary, who chaired Thelen from 1992 to 2003 and is now a law firm management consultant, said that, on the whole, it's a merger of equals. One of the key elements, he said, is the shared chairmanship.

Millstein said his firm wouldn't have considered the merger unless it was treated equally, adding that the firm had broken off talks with others over the issue. The deal with Thelen was attractive because of its offices in California. "The West Coast is very important to us," Millstein said. "It creates a footprint that is critical to us." Brown Raysman has 20 lawyers in Silicon Valley and Los Angeles and none in San Francisco. The combined firm will have 242 lawyers in those three locations. Thelen will add its 78 New York-based lawyers to Brown Raysman's 177.

11-07-2006

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