Clifford Chance today announced its results for the year ended 30 April 2013.

    Revenues were £1,271 million (USD1,995 million; EUR1,551 million), broadly flat year on year excluding the effect of exchange rate movements (in Sterling, down 2%)
    Partnership profit was £404 million (USD634 million; EUR493 million), 6% lower than the previous financial year
    Profit per equity partner was £1 million (USD1.5 million; EUR1.2 million), 9% down on the previous financial year

Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised DNB on the recent signing of a US$530m long-term loan facility supported by the Korean and Norwegian export credit agencies, KEXIM, GIEK and Eksportkreditt to finance the Odfjell Drilling rig Deepsea Aberdeen.

Herbert Smith Freehills is advising RESIMAC LIMITED (Resimac) on the proposal put to RHG Limited (RHG) by Australian Mortgage Acquisition Company Pty Ltd and Resimac for the acquisition of RHG by way of scheme arrangement for total cash consideration of 47.1 cents per share, announced today.

Linklaters advised the banks, including Deutsche Bank, Goldman Sachs, UBS, Berenberg Bank and Commerzbank, in relation to the stock market debut of the Siemens subsidiary Osram. The shares of OSRAM Licht AG were admitted to trading on the Frankfurt and Munich Stock Exchanges on 5 July 2013. On 8 July 2013, they were traded for the first time. The German leading share index DAX consists of 31 stocks for one day today.

Leading international law firm Clifford Chance recently hosted 80 counsel representing 60 law firms from 30 African countries at its two-day inaugural African Counsel Retreat in London.

The Retreat was aimed at bringing together Clifford Chance lawyers and leading African counsel whom the firm works with on a regular basis to strengthen existing ties further, improve working practices, enhance knowledge sharing and management processes as well as to exchange insights on current legal topics.

HONG KONG, 5 July 2013 - Hogan Lovells has advised the underwriters, which include CLSA Limited, CITIC Securities Corporate Finance (HK) Limited, Credit Suisse (Hong Kong) Limited, BOCOM International Securities Limited and CIMB Securities Limited, on the Hong Kong IPO and Rule 144A placing of Macau Legend Development Limited ("Macau Legend"), one of the leading owners of entertainment and casino gaming facilities in Macau.

The IPO was priced at HK$2.35 per share, raising US$283.5 million.

Ashurst has advised Euroz Securities Limited as joint bookrunner in Rialto Energy Limited A$14.1 million institutional placement equity raising.

Rialto Energy is also seeking to raise up to A$5 million under a share purchase plan announced in conjunction with the placement.

Beijing, Singapore: Leading international law firm Clifford Chance has advised China Development Bank Corporation (CDB) on a 13-year debt facility agreement of up to US$1 billion to finance MMG's Dugald River project, which involves the development and construction of a zinc, lead and silver mine located in north west Queensland, Australia. The Firm advised on the English, Hong Kong and Singapore law aspects of the financing transaction.

Business law firm DWF has announced that its Corporate team achieved, in the half year to June 2013, an aggregate deal value of more than £830m for its corporate transactions. The figures are part of global information services company Corpfin Experian’s deals database.

Ashurst advised financial services company Wells Fargo Bank International ("Wells Fargo") in connection with the sale of a portfolio of nine shopping centres out of insolvency to affiliates of Cerberus Capital Management.