Australia, Asia Pac played key role in 2016 deals

Australia, Asia Pac played key role in 2016 deals
A turbulent and unpredictable year in 2016 meant a largely downward trend for global M&A but there was some strength in the final quarter.

Baker McKenzie’s latest Cross-Border M&A Index shows that buyers announced 1,429 deals worth U$388.2 billion, a 2 per cent increase in volume and 1 per cent increase in value from the previous quarter.

Almost a third of the buyers were in the US, despite the uncertainty of the presidential election.

Asia Pacific remained a strong contributor to global deals with 203 cross-regional deals totalling U$93.9 billion, amounting to 14 per cent of global deal volume and 24 per cent of value.

Australia was the third most active buyer in Asia Pacific in the fourth quarter with 31 deals worth U$20 billion.
 
Clients at risk from lack of data protection awareness says DLA Piper
Too many companies are at risk from lacking awareness of increasingly demanding global privacy principles, a survey by DLA Piper warns.

The global law firm says that its research shows that many organisations are falling short of their obligations under regulations including the forthcoming General Data Protection Regulation.

Although GDRP is a European Union regulation, it applies to any business operating within the region including multinationals from Asia Pacific. DLA Piper says the cost of breaching the rules could be as high as 4 per cent of a firm’s global annual turnover.

"With more and more organisations putting data at centre stage, data protection will become an increasingly prominent issue. It is vital that organisations invest now in the strategy and processes needed to help them to meet their obligations," commented Patrick Van Eecke, Partner and Global Co-Chair of DLA Piper's Data Protection practice.
 
Former Ashurst practice head launches alternative legal service
Former Ashurst securities & derivatives group head Christopher Georgiou is leading the launch of an alternative legal services platform at European firm Fieldfisher.

Christopher Georgiou is CEO of Condor Alternative Legal Solutions (Condor) which will initially focus on the derivatives and securities financing markets with services aimed at banks, custodians, asset managers, insurers and corporate treasurers.

Georgiou was with Ashurst for 14 years as a partner and will be joined in the new venture by partners Guy Usher and Luke Whitmore.