Law Firm News

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Law Firm News

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Thacher Proffitt & Wood LLP

Thacher Proffitt Represented Grupo Simec in First SEC-Registered Stock Offering By a Mexican Company This Year
Thacher Proffitt was mentioned in the article, "Thacher Proffitt & Wood LLP represents Grupo Simec in $217 million SEC registered stock offering," regarding Grupo Simec's secondary stock offering, the first SEC-registered offering of equity securities by a Mexican issuer in 2007.

Associated Lawyers
Amelia G. Baker
Jimena Gonzalez de Cossio
Marc M. Rossell
Walter G. Van Dorn, Jr.

Associated Practices
Corporate & Securities

02-27-2007

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Simpson, Thacher & Bartlett, LLP

Simpson Thacher Advises KKR and TPG in Largest LBO
Simpson Thacher represented Kohlberg Kravis Roberts & Co. ("KKR") and Texas Pacific Group ("TPG") in connection with their proposed acquisition of TXU Corp., a Dallas-based energy company, in a transaction valued at $45 billion. Goldman Sachs Capital Partners, Lehman Brothers Inc., Citigroup Inc. and Morgan Stanley intend to become equity investors at closing. Valued at $45 billion (including assumed debt), this deal represents the largest LBO in history, surpassing Blackstone's recent acquisition of Equity Office Properties Trust, where Simpson Thacher also acted as advisor to the buyer. In connection with their proposed acquisition of TXU, the investor group led by KKR and TPG is announcing a series of initiatives for the company, including price cuts and price protection benefits to residential customers, reduction of planned coal-fueled generation units, the strengthening of environmental policies, significant investments in alternative energy, and the implementation of corporate policies tied to climate stewardship.

The Simpson Thacher team for this transaction included David Sorkin, Andrew Smith, Douglas Bacon, Andy Calder, Nomaan Raja, Rafael Berckholtz, and Mark Bussey (M&A); James Cross, Brian Steinhardt, and Ethan Gao (Credit); Ed Tolley, Kirsten Davis, and Peter Washkowitz (Capital Markets); Steve Todrys, Nancy Mehlman, and Jason Vollbracht (Tax); Alvin Brown, Carl Berry, and Wonda Joseph (Benefits); Adeeb Fadil and Noreen Lavan (Environmental); Julie Levy, Fagie Hartman, and Andrew Janis (Labor); Mardi Merjian (Real Estate); and Brian Chisling (Regulatory); as well as paralegal Christina Gubitosa.

Lawyers:
• Douglas E. Bacon
• Rafael Berckholtz
• Alvin H. Brown
• Mark C. Bussey
• Andrew T. Calder
• Brian E. Chisling
• James D. Cross
• Kirsten L. Davis
• Adeeb R. Fadil
• Ethan Gao
• Fagie Hartman
• Andrew Y. Janis
• Wonda M. Joseph
• Julie A. Levy
• Nancy L. Mehlman
• Mardi R. Merjian
• Nomaan Akram Raja
• Andrew W. Smith
• David J. Sorkin
• Brian M. Steinhardt
• Steven C. Todrys
• Edward P. Tolley
• Jason R. Vollbracht
• Peter Washkowitz

02-27-2007

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Shearman & Sterling LLP

Shearman & Sterling Represents HSBC and SMBC on US$800 Million Power and Water Projects
Shearman & Sterling represented HSBC and SMBC as mandated lead arrangers in relation to the financings of the US$800 million power and water projects Al-Rusail IPP and Barka 2 IWPP in the Sultanate of Oman.

The Al-Rusail project involves the acquisition and rehabilitation of an existing 666 MW power plant, and the Barka 2 project involves the development of a new 676 MW power and water project. Both projects benefit from long-term offtake contracts with Oman Power and Water Procurement Company, both of which are backed by guarantees provided by the Ministry of Finance of the Government of Oman.

The transaction is notable for a number of reasons; each project has been structured as a separate financing, but with structural enhancements to provide a mini-portfolio effect whereby dividends are pooled and may be used to fund costs at either project. The transaction was also completed in record time, within 70 days from signing the project documents. This was particularly impressive given the more complicated nature of the transaction and the fact that the project ran over the Christmas and New Year period. Furthermore, Shearman & Sterling has now advised on all of the independent power deals in Oman which have been financed to date.

The transaction also represents a significant start to the year for Shearman & Sterling's global project development and finance team, coming only one week after completing the financing of the extension of the Taweelah A1/10 IWPP in Abu Dhabi.

Commenting on the deal, Shearman & Sterling partner and project team leader Kenneth MacRitchie said: "The completion of such a complex project financing in record time could only be achieved by parties who all have a leading position in the Middle East power market. Shearman & Sterling is particularly pleased to have advised lenders now on the last four power project financings which Suez Energy International has completed in the region."

The team at Shearman & Sterling was led by partner Kenneth MacRitchie in London and associate Ben Shorten in Abu Dhabi, and comprised partner Patrick Clancy, counsel Greg Page, associates Simon Thomson and Jonathan Lagan and trainees Nadia Bardawil and George Mullin.

Both projects are sponsored by a consortium comprising Suez Energy International, Mubadala Development Corporation and National Trading Company LLC.

The EPC Contractor relating to the Barka 2 project is Doosan Heavy Industries and Construction.

02-27-2007

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Shearman & Sterling LLP

New Women’s Soccer League Wins Investors Nationwide
Ownership groups representing six major US cities, including Chicago, Dallas, Los Angeles, St. Louis and Washington, DC, have signed letters of intent to become charter members of the Women’s Soccer Initiative, Inc.’s (WSII) effort to launch a new major women’s soccer league in the United States.

WSII anticipates that teams will play their first games in the spring of 2008, capitalizing on the interest generated by the 2007 FIFA Women’s World Cup in September.

The new league will be built on a traditional franchise model and will play its games in stadiums designed for soccer, enabling teams to generate and retain more revenue and better showcase the sport, according to Tonya Antonucci, CEO of WSII. WSII is a non-profit organization founded to develop a business plan to relaunch women’s professional soccer in the United States and is backed by grants from the U.S. Soccer Federation and U.S. Soccer Foundation.

“We have learned from the successes and mistakes of the [Women’s United Soccer Association] and have created a business model that makes good economic sense,” Antonucci said.

Shearman & Sterling represents WSII on a pro bono basis. The attorneys involved include partners Beau Buffier (New York-Antitrust), Creighton Condon (New York-M&A) and Vicki Veenker (Menlo Park-Intellectual Property/Litigation), counsel Daniel Glazer (New York-Intellectual Property) and Susan Reiss (New York-Intellectual Property) and associates Nathaniel Asker (New York-Antitrust), Bryn Jedlic (San Francisco-M&A) and Jan Westfall (San Francisco-M&A).

02-27-2007

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Proskauer & Rose, LLP

Proskauer Rose Partners with Practicing Attorneys for Law Students to Launch Campaign for PALS
Proskauer Rose LLP, an international law firm with over 700 lawyers worldwide, has partnered with Practicing Attorneys for Law Students (PALS) to launch Campaign for PALS, an initiative designed to strategically grow and expand the services of the 22-year-old organization dedicated to mentoring and guiding minority law students and young attorneys in the New York City metropolitan area.

Proskauer Rose has committed the first leadership gift to Campaign for PALS, which will allow the organization to grow its administrative capacity, enhance its visibility through branding and marketing outreach and strengthen its fundraising capacity. These activities will in turn increase the organization's ability to provide direct services to minority law students and attorneys as they develop their talent and enter the legal pipeline.

"Proskauer is proud to be part of PALS' efforts to enhance the skills and careers of minority law students and early-career attorneys," said Janice K. Smith, partner in the firm's Corporate Department and Vice Chair of PALS' Board of Directors. "Diversity is one of the most critical issues facing the legal profession and one of Proskauer's most important strategic goals. Our partnership with PALS and this Campaign is a significant step in meeting the challenge and addressing the professional development needs of aspiring minority attorneys."

Founded in 1984, PALS offers resources and customized mentoring, educational, professional development and networking programs and opportunities to augment the law school and training of minority law students and beginning lawyers.

"PALS is focused on giving students and young lawyers the practical information they need to succeed," said Amanda C. Samuel, Chair of PALS' Board of Directors and an intellectual property attorney at Colgate-Palmolive Company. "The foundation of PALS is our mentoring program, which brings together attorneys from New York's top law firms with students from 13 area schools, and this continues to be one of our core commitments. But the organization provides so much more - everything from tips on test taking to overviews of the different career opportunities available to new attorneys to forums on succeeding in a law firm or in-house environment. With the support of Campaign for PALS of firms like Proskauer, we look forward to continuing to strengthen and expand these opportunities and develop the talent that is so abundant in the New York area."

In the coming weeks and months, PALS will launch Campaign for PALS through events geared toward associates and women in law firms as well as the expansion of its mentoring program in local law firms.

02-27-2007

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Piper Rudnick, L.L.P.

DLA Piper named as Law Firm of the Year at Global Pensions Awards
DLA Piper has been named Law Firm of the Year at the Global Pensions Awards. The team beat off stiff competition from Linklaters, Mayer Brown Rowe & Maw, Sacker & Partners, Hammonds and Norton Rose.

The awards were presented by Michael Portillo in front of a packed audience of leading pensions industry figures at the Grosvenor House Hotel in Park Lane last night.

Global Pensions is a leading industry publication for professionals involved in advising and managing the world's largest pension plans. The Global Pensions Awards were created to honour companies at the forefront of the investment community, and are the only pensions industry awards that are truly global.

Matthew Swynnerton, a pensions partner in DLA Piper's London office, collected the award and commented: "We are delighted to have won this award. It reflects not only the quality of expertise and experience in DLA Piper's pensions practice but also the seamless global service DLA Piper offers its clients."

David Wright, partner and National Head of Pensions and Employee Benefits, commented: "This timely award demonstrates our ability and reputation to deliver quality advice and services to clients on a global basis. It is testament to an exceptional team working in and across multiple jurisdictions.

02-27-2007

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Kaye Scholer LLP

Kaye Scholer Successfully Defends Pfizer's Norvasc® Patent for Third Time
A federal judge in the U.S. District Court for the Western District of Pennsylvania held that Pfizer Inc.'s patent for the compound amlodipine besylate is valid, enforceable and would be infringed by Mylan Laboratories Inc.'s generic version of Pfizer's blockbuster hypertension drug Norvasc®. The judge also enjoined Mylan from selling and marketing a generic version until the pediatric exclusivity period for the patent expires in September 2007. Mylan has filed a notice of appeal.

This is the third time Kaye Scholer has successfully enforced the amlodipine besylate patent for Pfizer against generic companies in the past year, by prevailing in three separate bench trials. In January 2006, a federal judge in the U.S. District Court for the Northern District of Illinois held that generic manufacturer Apotex infringed the patent and that it is valid and enforceable. In August 2006, the U.S. District Court for the Middle District of North Carolina upheld Pfizer's patent against generic manufacturer Synthon Pharmaceuticals. Both judgments have been appealed.

Kaye Scholer's lead trial attorneys for Pfizer were Milton Sherman, partner in the Patent Litigation Group and Richard G. Greco, partner and Vice-Chair of the Patent Litigation Group.

02-27-2007

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