Davis Polk's London office, which opened in 1972, is the headquarters of our Europe practice. The lawyers in our London office represent companies and financial institutions on a wide range of corporate transactions throughout Europe and further afield in the Middle East and Africa.
Davis Polk announced in January 2012 the launch of an English law practice in London to complement the firm’s long-established U.S. law practice in the capital and its English law practices in Hong Kong and Brazil.
Our London-based capital markets lawyers advise major issuers and underwriters throughout Europe on global offerings of equity and debt securities. We also develop innovative securities that allow European financial institutions to meet regulatory capital requirements efficiently and advise these clients on cross-border payment, settlement and risk-management issues.
Our London office has also been involved in some of the largest European M&A transactions in recent years. Our M&A lawyers advise large and small corporations, investment banks and private equity funds on investments.
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- Ranked among the leading U.K. law firms in both Capital Markets Debt and Equity offerings – Chambers U.K. 2013
- “Clients are especially impressed with the team's consistency, finding that ‘the teams tend be of a uniformly high quality.’” – Chambers U.K. 2013
- 1st among U.S. firms in announced European M&A – Q1 2013 Thomson Reuters
- Deutsche Bank (€10.2 billion). We advised the lead managers on an offering of ordinary shares by Deutsche Bank, one of the largest financial institutions in Europe and the world. This is the largest German capital raising in over 10 years.
- Danske Bank ($1.2 billion). We advised the joint global coordinators on a Rule 144A/Regulation S offering of ordinary shares by Danske Bank. Danske Bank is the largest financial services provider in Denmark and one of the largest in the Nordic region.
- Ziggo (€925 million). We advised the joint global coordinators on the Rule 144A/Regulation S IPO of ordinary shares of Ziggo, the largest cable operator in the Netherlands. The offering was the:
- Largest initial public offering in Europe in a year
- Largest in the Netherlands since 2009
- Aviva/Delta Lloyd (£353 million). We advised the global coordinator on the accelerated bookbuilt placing of ordinary shares of Delta Lloyd by Aviva, a provider of life and pension products in Europe (including the U.K.) with substantial positions in other markets around the world.
- Manchester United ($233 million). We advised the joint book-running managers on the SEC-registered IPO of Class A ordinary shares of Manchester United, one of the most popular and successful sports teams in the world.
- Ocado Group (£36 million). We advised the underwriters on an accelerated bookbuild placing of ordinary shares of Ocado Group, a dedicated online supermarket in the United Kingdom and the largest dedicated online supermarket in the world by turnover.
- Royal Bank of Scotland ($13.3 billion). We advised RBS on its tender offers to purchase for cash any and all of its $13.3 billion denominated senior notes and its tender offers to purchase for cash pursuant to a modified Dutch auction procedure up to £2 billion (equivalent) of certain of its €5.6 billion senior notes and certain of its £3.9 billion senior notes. RBS purchased $3.97 billion, €1.35 billion and £615 million of notes, respectively, under the tender offers.
- SABMiller ($7 billion). We advised the joint bookrunners on a Rule 144A/ Regulation S notes offering by SABMiller, one of the world’s largest brewers.
- Rio Tinto ($3 billion). We advised the joint bookrunners on an SEC-registered notes offering by Rio Tinto Finance (USA), a finance company of the Rio Tinto Group, which is a leader in finding, mining and processing the earth’s mineral resources.
- Diageo ($2.5 billion). We advised the joint bookrunners on an SEC-registered notes offering by Diageo Capital and an SEC-registered notes offering by Diageo Investment Corporation, both belong to Diageo and are the world’s leading premium drinks business.
- Royal Bank of Scotland ($2.25 billion). We advised RBS on its SEC-registered offering of subordinated Tier 2 notes.
- AstraZeneca ($2 billion). We advised AstraZeneca on its SEC-registered notes offering. AstraZeneca is a global, innovation-driven, prescription-based biopharmaceutical business with a primary focus on the discovery, development and commercialization of prescription medicines.
- Statoil ASA ($2 billion). We advised the joint bookrunners on an SEC-registered notes offering by Statoil ASA, a Norway-based integrated, major international oil and gas company.
- UBS ($2 billion). We advised the joint bookrunners on a Section 3(a)(2) exempt offering of Tier 2 subordinated notes by UBS, a global firm, serving private, institutional and corporate clients worldwide.
- ING Bank ($1.5 billion). We advised the joint lead managers on a Rule 144A/Regulation S offering of covered bonds by ING Bank, a part of ING Groep, which is a global financial institution based in the Netherlands.
- Koninklijke Philips Electronics ($1.5 billion). We advised the joint bookrunners on an SEC-registered offering of notes by Koninklijke Philips Electronics, the parent company of the Philips Group, whose activities include, among others, the manufacturing and design of medical systems, domestic appliances, consumer electronics and lighting.
- Lloyds TSB Bank ($1.5 billion). We advised Lloyds TSB Bank, a subsidiary of Lloyds Banking Group, which is a global financial institution based in the United Kingdom offering banking, investments, insurance and retirement services worldwide, on its SEC-registered senior notes offering.
- Anglo American Capital ($1.35 billion). We advised the joint bookrunners on a Rule 144A/Regulation S senior notes offering by Anglo American Capital and guaranteed by Anglo American, a global leader in mining, whether measured by market capitalization, revenue or net income.
- Sasol ($1 billion). We advised the underwriters on an SEC-registered notes offering by Sasol Financing International, an international integrated energy and petrochemicals company based in Johannesburg, South Africa.
- British Sky Broadcasting ($800 million). We advised the joint bookrunners on a Rule 144A/Regulation S offering of senior unsecured notes by British Sky Broadcasting Group, a company that operates the leading pay television service in the United Kingdom and Ireland, and is the fastest-growing provider of home communications services in the United Kingdom.
- Aegon ($500 million). We advised the underwriters on the SEC-registered offering of Tier 2 non-cumulative subordinated notes by Aegon, an international life insurance, pension and asset management company based in The Hague, Netherlands. The subordinated notes are structured to qualify as Tier 2 capital for AEGON NV under existing regulatory capital rules as well as proposed rules under Solvency II, which are expected to be in effect as of January 1, 2014.
- Dufry ($500 million). We advised Dufry Finance SCA as issuer and Dufry AG and certain of its subsidiaries as guarantors on its Rule 144A/Regulation S offering of dollar-denominated high-yield notes. Dufry is a leading global travel retailer.
- Smiths Group ($400 million). We advised the joint bookrunners on a Rule 144A/Regulation S senior notes offering by Smiths Group, a diversified global technology business operating through five divisions in the energy, medical device, detection, communications and engineered component markets.
- Codere ($300 million). We advised Codere Finance (Luxembourg), a subsidiary of Codere, on its Rule 144A/Regulation S debut offering of high-yield senior notes. Codere is a gaming company engaged in the management of gaming machines, machine halls, bingo halls, horse racing tracks, casinos and sports betting locations.
- AstraZeneca ($7 billion). We advised AstraZeneca on its expansion of its diabetes alliance with Bristol-Myers Squibb (BMS) through BMS’ acquisition of Amylin Pharmaceuticals, a San Diego, California-based biopharmaceutical company focused on the treatment of diabetes, obesity and other metabolic diseases.
- EQT Partners ($2.2 billion). We advised EQT Partners, a Swedish private equity firm, on its sale of Dako, a Danish tissue-based cancer diagnostics company, to Agilent Technologies, a Santa Clara, California–based provider of measurement technology for chemical analysis and life sciences applications.
- Taylor Wimpey ($955 million). We advised Taylor Wimpey, a U.K.-based homebuilder, in connection with the sale of its U.S. and Canadian business to TMM Holdings, a partnership controlled by certain investment funds affiliated with TPG Capital, certain investment funds affiliated with Oaktree Capital Management and JH Investments.
- ARM ($350 million). We are advising ARM Holdings, a U.K. developer and supplier of semiconductor intellectual property, on its leading participation in a consortium of major technology companies affiliated with Allied Security Trust that acquired the rights to MIPS Technologies’ patent portfolio for $350 million, of which ARM will contribute $168 million. The MIPS patent portfolio includes 580 patents and patent applications covering microprocessor design, system-on-chip design and other related technology fields.
- MSCI ($23.5 million). We are advising MSCI, a provider of investment decision support tools to clients ranging from large pension plans to boutique hedge funds, on its acquisition of InvestorForce, a provider of advanced performance management solutions for the institutional investment consultant.