Asia-Pac led mining sector M&A surge in second quarter
Despite continuing volatility in the commodities sector, there was an increased confidence in M&A deals in the mining and metals sectors in the second quarter of 2016.
In fact, deal value surged 93 per cent to US$7.8 billion in April, May and June compared to the first three months of the year and Asia-Pacific led the way with US$3.6 billion.
The analysis of deals by EY reveals that North America led deal volume with 56 (54 per cent of the global total) with mid-market gold sector consolidation dominating.
Overall there were 770 M&A deals in mining and metals globally in Q2 2016; 30 per cent above the previous quarter and 43 per cent higher than Q2 2015. Total capital raised was lower though at US$60, down 5 per cent from the previous quarter and 28 per cent year-over-year.
Dentons hires 5 partners in Shanghai
Dentons has strengthened its Shanghai office with five new partner hires from four different Chinese firms. According to the Shanghai Bar Association records, the hires come from Shenda Law Firm, Shanghai Donghong Law Firm, Tiantai Law Firm and HHP Attorneys-at-Law.
KWM adds $24 million as part of firm’s recapitalisation
Partners of King & Wood Mallesons have pledged the equivalent of AU$24 million as part of a recapitalisation plan for its European and Middle East region. Equity and salaried partners have been asked to contribute to the recapitalisation program.
KWM’s EUME region has undergone a number of strategic changes recently, including grouping practice areas into three main strands and the loss of around 70 lawyers and staff.
Executive sues employer over boring job
A former executive of a French perfume manufacturer is suing the company for being “killed professionally by boredom.”
The BBC reports that Frederic Desnard complained that his role turned him into a “professional zombie” leading to him suffering “bore out” – a spin on ‘burn out’.
Desnard’s lawsuit claims 360,000 euros (AU$529,000) in damages.
