MAGAZINE

November 2014 Issue

Financier Worldwide Magazine


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COVER STORY

Renewed struggles in the eurozone

Following years of uncertainty and stagnation, the global economic outlook has improved. Favourable economic conditions in emerging markets across Africa, Asia and Latin America have boosted talk of the nascent global recovery truly taking hold...

 

FEATURES

Private equity investment in Latin America

The first half of 2014 was a mixed period for private equity (PE) firms operating in the Latin America region, according to a new survey from the Latin American Private Equity & Venture Capital Association (LAVCA). Although large buyout funds...

The future of green investing

Global demand for primary energy is set to increase by between 27 and 61 percent over the next 40 years, according to some estimates. With 1.2 billion people worldwide unable to access electricity today, investment of up to $26.7 trillion is needed...

Rise of the machines

Robotics has been a longstanding fascination for mankind. From Hollywood action films to classic literature to the factory floor, the role of robots and their impact on everyday human life is a captivating subject. Although today robots are not...

Nigeria’s economic outlook

Fifty-four years after the country gained independence from the UK, the pace at which the Nigerian economy has been evolving has increased exponentially in recent years. The Nigerian economy has progressed from being primarily agrarian...

Corporate criminal liability

Corporate criminal liability has become a major talking point in recent years. Cases against large corporations and financial institutions have become more prevalent, particularly since the onset of the financial crisis. In the US during 2013...

 

ROUNDTABLE

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Corporate fraud

MODERATOR: James D. Ratley, Association of Certified Fraud Examiners. THE PANELLISTS: David Raskin, Clifford Chance US LLP; Tamlyn Edmonds, Edmonds Marshall McMahon; Bill A. Hardin, Navigant Consulting; Sam Eastwood, Norton Rose Fulbright; Rebecca Meads, Peters & Peters; and Klaus Moosmayer, Siemens AG.

Conventional forms of fraud persist but are being joined by a new wave of technology-driven techniques. Regulators around the world are making a concerted effort to sharpen their prosecution tools and increase enforcement activities in this area...

 

SPECIAL REPORT

Energy & natural resources sector

The major issue facing the energy and natural resources sector has remained much the same in recent years, namely the need to define and bring about the right balance between environmental, security of supply and cost pressures. The difficulty of this task...

FORUM: Opportunities and challenges in shale gas

FW moderates a discussion on opportunities and challenges in shale gas between Hamish McArdle at Baker Botts, Chris Faulkner at Breitling Energy Corporation, Pedro Nunes at EUREKA Secretariat, Simon Talbot at Ground-Gas Solutions Ltd., and Bruce Rutherford at Jones Lang LaSalle (JLL).

Canada’s highest court recognises Aboriginal Title – implications for Canada’s resource sector

Davies Ward Phillips & Vineberg LLP This summer, the Supreme Court of Canada (SCC) issued a landmark declaration that the Tsilhqot’in Nation, one of hundreds of indigenous groups in Canada with unresolved land claims, has title to over 1700 square kilometres of Crown land in...

SOE transactions within Canada’s petroleum and natural gas sector – acquisitions of control

Burnet, Duckworth & Palmer LLP It has been almost two years since Prime Minister Harper approved the CNOOC/Nexen and PETRONAS/Progress mergers, and highlighted that “Canadians, generally, and investors specifically, should understand that these decisions are...

Brazil’s Libra PSA – first anniversary

Villemor Amaral Advogados On 21 October 2013, the winners of the first Brazilian bid round made under the new regulatory regime were announced. The regime is based on the Production Sharing Agreement (PSA) that was developed especially for the pre-salt block called Libra...

Institutional money for renewable investments: hard work to make a ‘natural fit’ suitable

Simmons & Simmons LLP Investors who are managing long-term institutional money, such as for life insurances, pension funds or family offices, seem to be the logical partners for renewables developers in their preparation for more complex future markets. The general parameters...

EU sanctions against Russia: what does it mean for the energy industry?

Norton Rose Fulbright LLP The EU has again strengthened sanctions against Russia, including further restrictions directly impacting the energy industry. We are already seeing in the press the effect sanctions are having on the Russian energy sector, and the oil majors’ interests there...

Energy issues in the Central and Eastern European region

CMS Cameron McKenna LLP Over the past 12 months the energy sector in the Central and Eastern European region has seen various substantial developments. In the oil and gas sector we have seen an increasing concern over the security of supply of natural gas from Russia...

South African power – diversifying and securing supply risk

Hogan Lovells (South Africa) The South African energy system has always been highly dependent on fossil fuels. This has led to environmental challenges which were not there, or at least not so intensely under the spotlight, when the power plants were designed...

Q&A: M&A and investment in the energy & utilities sector

FW moderates a discussion on M&A and investment in the energy & utilities sector between Christopher Ryan at Beowulf Energy LLC, Hermenegildo Altozano at Bird & Bird LLP, Carlos Ramos Miranda at Hogan Lovells BSTL, S.C., Fintan Whelan at Mainstream Renewable Power Ltd., and Charles Peterson at Pillsbury Winthrop Shaw Pittman LLP.

 

DEALfront

mergers & acquisitions

Siemens makes $7.6bn Dresser-Rand bet

Siemens AG entered into a definitive agreement to acquire US oilfield equipment manufacturer Dresser-Rand Group Inc in September. Under the terms of the deal Siemens will pay $7.6bn for the company including the assumption of outstanding...

Nobel Biocare sold to Danaher in $2.2bn deal

The Danaher Corporation has agreed to acquire Nobel Biocare Holding AG, the world’s second largest manufacturer of dental implants, in a deal worth around $2.2bn. Under the terms of the deal, Nobel’s shareholders will receive $18.55 in cash per share...

private equity & venture capital

Vista Equity acquires TIBCO for $4.3bn

Private equity (PE) group Vista Equity Partners announced on 29 September that the firm had agreed to acquire enterprise software company TIBCO Software in a $4.3bn deal. According to the terms of the deal, TIBCO’s shareholders will receive $24 per...

Cognizant to buy TriZetto

IT and outsourcing firm Cognizant Technology Solutions announced on 15 September that it had agreed to acquire the TriZetto Corporation in an all cash deal worth around $2.7bn. The acquisition of TriZetto from private equity firm Apax Partners will see...

bankruptcy & corporate restructuring

End of the road for ITR

ITR Concession Company LLC, the operator of the Indiana Toll Road, filed for bankruptcy protection in September. According to the firm’s bankruptcy documentation, ITR intends to restructure its $6bn worth of debt by either divesting a number of assets...

Phones 4u enters administration

British mobile phone retailer Phones 4u entered administration in mid September following the announcement that EE, which owns the Orange and T-Mobile brands, would not be renewing its contract with the firm. It is believed that approximately half...

 

SPOTlight

Patents don’t bite – a licence to do the right thing

Finjan Holdings, Inc. Bad actors who pollute any business environment eventually cause public sentiment to turn negative and, in turn, instigate government intervention. Self-regulation isn’t a miracle cure either. Not all intentions are genuine and good, and one...

The focus on corruption in Australia continues: the Royal Commission into Trade Union Governance and Corruption

Norton Rose Fulbright The spotlight on corruption in Australia has intensified recently, with a number of high profile investigations at both the state and federal level. The issue of corruption in government and the political sphere has garnered widespread public attention...

How manufacturers can combat the grey market

corma GmbH Manufacturers of consumer electronics and computers, producers of textile products and perfume creators all have to fight against the grey market. In the case of technology products alone, goods worth an estimated $58bn are sold every year outside...

Perspectives on productivity in the financial sector

iOpener Institute for People & Performance Productivity is a major issue affecting the financial world, particularly as forward-thinking firms look to reverse their reputation for long hours as a measure of employee performance. But financial firms cannot hope to implement intelligent approaches...

The United States Ukraine-related sanctions targeting Russian persons and industries

Vinson & Elkins LLP In November 2013, Ukrainians began large scale protests against their government, which ultimately led to a coup and the installation of a pro-European government much to the dismay of Russian President Vladimir Putin. Putin responded by annexing...



CONTRIBUTORS

Association of Certified Fraud Examiners

Baker Botts

Beowulf Energy LLC

Bird & Bird LLP

Breitling Energy Corporation

Burnet, Duckworth & Palmer LLP

Clifford Chance US LLP

CMS Cameron McKenna LLP

corma GmbH

Davies Ward Phillips & Vineberg LLP

Edmonds Marshall McMahon

EUREKA Secretariat

Finjan Holdings, Inc.

Ground-Gas Solutions Ltd.

Hogan Lovells

iOpener Institute for People & Performance

Jones Lang LaSalle (JLL)

Mainstream Renewable Power Ltd.

Navigant Consulting

Norton Rose Fulbright

Peters & Peters

Pillsbury Winthrop Shaw Pittman LLP

Siemens AG

Simmons & Simmons LLP

Villemor Amaral Advogados

Vinson & Elkins LLP


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