Dealmakers

Mozambique: power expansion

Magic circle law firm Linklaters has advised Scottish power generation company Aggreko on a scheme involving the expansion of its Mozambican gas-fired power station at Ressano Garcia.
The London-based firm advised on the project which is designed to have a total installed capacity of 232 MW, with up to 32 MW being sold to EDM (the Mozambican power utility) and 90 MW to Nampower (the Namibian power utility) under innovative TriParty Power Purchase Agreements, in addition to the 110 MW currently being supplied to EDM and Eskom (the South African power utility).
The total value of the expansion project is likely to be in excess of US $200m.
Linklaters’ team was led by partner Andrew Jones in London and counsel Francisco Ferraz de Carvalho in Lisbon.

Switzerland: value returned

Lehman Brothers Finance AG (LBF) - the Swiss equity derivatives entity in the Lehman group - has been advised by European law firm Field Fisher Waterhouse on its settlement with Lehman Brothers International Europe (LBIE).
According to the firm, the settlement is a significant step in the bankruptcy of LBF as LBIE was LBF's primary custodian and trading partner in the Lehman Group. The liquidator of LBF is confident that the settlement will result in significant value being returned to the LBF estate.
Field Fisher Waterhouse's team was led by derivatives partners Guy Usher and Edward Miller. Linklaters represented LBIE.  

Indonesia: flying high

London law firm Stephenson Harwood has advised Indonesia’s largest privately run airline Lion Air on a record order for Airbus, compromising 234 aircraft, valued at $24 billion.
ALB Online reports that the order has seen Airbus reel in Boeing’s hold on one of the world’s fastest growing airline.
The Stephenson Harwood team was led by partner Paul Ng, assisted by David Hon and Ethan Tan out of the Singapore office. Airbus was represented by its in-house legal team.

Denmark: seeing clearly  

International pharmaceuticals company Amdipharm Mercury Company Limited (AMCo) has been advised by London firm Clifford Chance on its acquisition of the Fucithalmic pharma product business of Denmark’s LEO Pharma A/S for an undisclosed sum.
Fucithalmic - which is used to treat bacterial conjunctivitis - has annual sales of €30 million and is sold in over 90 countries world-wide, according to a statement on the magic circle firm’s website.
AMCo was formed recently from a merger of the Amdipharm and Mercury Pharma businesses. It specialises in off-patent niche pharmaceuticals and has pro forma revenues of around £250 million generated in 112 countries.
The Clifford Chance team was led by London corporate partner Andre Duminy and associate Ed Freeman.

Netherlands: double deal

Global law firm Freshfields Bruckhaus Deringer has completed two Dutch securitisations in the first quarter of 2013 with a total value of €4.3 billion.
The London-headquartered firm advised JP Morgan Securities Plc in its capacity as arranger and lead manager in both transactions.
The first transaction was a €3 billion securitisation of mortgage loans originated by Westland Utrecht Bank, a subsidiary of ING Bank. The deal was completed in January.
Earlier this month the firm advised on a €1.3 billion securitisation of mortgage loans originated by ING Bank.
The transactions allowed the banks to raise long-term funding and involved the issuance of rated debt securities listed on Euronext Amsterdam.
Amsterdam-based finance partner Mandeep Lotay led the Freshfields team with support from tax partner Eelco van der Stok and teams in London, Milan, Paris and Tokyo.