Dealmakers

Zimbabwe: power up

The London and Johannesburg offices of global law firm Norton Rose are advising Zimbabwe Power Company (ZPC) as sponsor of the Kariba South Power Station extension project in the Mashonaland West province.
The project -- which has an estimated cost of $500 million -- will add 300 megawatts to the 750 megawatts already generated by Zimbabwe at the Kariba hydropower station on the Zambezi River.
London projects partner Richard Metcalf is leading the team advising the power company, while fellow London partner Richard Hill and Johannesburg partner Steven Gamble are also advising on the project.
Harare law firm Gill Godlonton & Gerrans is advising on Zimbabwe law, led by partner Sue Brighton.

US: star struck

Chicago law firm Sidley Austin has advised Starwood Property Trust and Starwood Capital Group on their agreement to acquire real estate company LNR Property for $1.05 billion.
According to the firm, under the terms of the agreement Starwood Property Trust will acquire LNR’s US and European real estate debt investing and special services businesses, Hatfield Phillips, and Starwood Capital Group will acquire LNR’s commercial property group. The two entities will also acquire a stake in on-line transaction management service Auction.com.
The acquisition is expected to close by the end of the second quarter of 2013.
Chicago partner Michael Gordon led the Sidley team, which included lawyers from across the US and Europe.

 Turkey: Turkcell delight

Global law firm White & Case has secured a victory for Turkish conglomerate Çukurova Holding in its long-running dispute with Russia’s Alfa Group over shared ownership of Turkey’s largest mobile telephone operator, Turkcell.
The legal action concerning the company – which is currently valued at approximately $2 billion -- began almost six years ago in the courts of the British Virgin Islands and relates to a 13 per cent holding in Turkcell.The Privy Council -- the final court of appeal from the British Virgin Islands -- has now delivered its judgment in favour of Çukurova.  
The White & Case team was led by London-based partner John Reynolds, supported by partner Charles Balmain.

France: banking on it

French law firm Gide Loyrette Nouel has advised La Banque Postale on agreements signed between the Caisse des Dépôts (CDC), La Banque Postale and the Dexia Group creating a new bank for local authorities.  
According to the lawyers, the new body, Société de Financement Local (SFIL), takes over from a subsidiary of Dexia, Dexia Crédit Local, which already played this role in the Franco-Belgian bank's loans activity to local authorities.
Partner Jean-Emmanuel Skovron led the Gide team, while fellow Paris-based firm Darrois Villey Maillot Brochier and magic circle giant Linklaters provided legal counsel to CDC. Other global firms acting were Gibson Dunn and Allen & Overy advising Dexia, and Jones Day and Baker McKenzie acting for SFIL.

Germany: floored

Munich-headquartered European law firm Noerr has advised German wood processor Pfleiderer on the sale of the laminate flooring specialist Pergo Group to the US company Mohawk Industries. According to Noerr, the purchase price of Pergo -- which had 2011 turnover of approximately $320 million in US and Europe -- was $150 million. The Noerr team was led by partners Holger Alfes and Jens Liese.