The Tokyo Office of the Firm is representing a consortium comprised of Japan’s JFE Steel Corporation (JFE), Japan Oil, Gas and Metals National Corporation (JOGMEC), Nippon Steel Corporation (NSC) and Sojitz Corporation (Sojitz) and Korea’s National Pension Service (NPS) and POSCO in the acquisition of a 15% stake in Companhia Brasileria de Metalurgia e Mineração (CBMM) for $1.95 billion.  JFE, NSC and POSCO are three of the world’s largest steel producers, JOGMEC is a Japanese independent administrative corporation, NPS is a Korean pension fund and Sojitz is a leading Japanese trading company.

The 1220 km long Nord Stream Phase II pipeline will transport gas to Europe under the Baltic Sea from Russia to Germany with this second of two pipelines providing a transmission capacity of about 27.5 billion cubic metres a year.

Shearman & Sterling is representing Gambro AB, jointly controlled by Investor AB (49%) and EQT IV (51%), in its agreement to sell CaridianBCT to the Japanese medical technology company Terumo Corporation for a total enterprise value of US $2.625 billion. The transaction is subject to approval from the relevant competition authorities.

Norton Rose Australia today announced the launch of an association with the Indonesian legal practice Susandarini & Partners in Jakarta. Susandarini & Partners is led by partner Susandarini, a recognised leading commercial lawyer, who has over 17 years experience advising clients in the Indonesian legal market.

Resource Capital Corporation (RSO) has announced that it has completed its purchase of 100 percent of the ownership interests in Churchill Pacific Asset Management LLC (CPAM) from Churchill Financial Holdings LLC. CPAM is the collateral manager to five Collateralized Loan Obligations (CLOs) totaling approximately $1.9 billion in assets. Covington & Burling LLP advised RSO on the deal. 

The London antitrust, regulatory and competition team at international legal practice Norton Rose LLP has been successful in preventing its client PayPoint plc from being subjected to anti-competitive practices by the National Lottery operator Camelot.

Shearman & Sterling represented Francisco Partners in its sale of AdvancedMD Software, Inc. to Automatic Data Processing, Inc. (ADP). Terms of the transaction were not disclosed.

Davis Polk advised Telefónica, S.A. and Telefónica Emisiones, S.A.U. on the SEC-registered $2.75 billion aggregate principal amount off-the-shelf note offering by Telefónica Emisiones, S.A.U., fully guaranteed by Telefónica, S.A. The offering consisted of $1.25 billion principal amount of 3.992% senior notes due 2016 and $1.5 billion principal amount of 5.462% senior notes due 2021.