Asia Pacific leads renewable energy deals

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Asia Pacific leads renewable energy deals
Renewable energy accounted for 48% of global deals in the power and utilities sector in the second quarter of 2017, but 51% in Asia Pacific.

Overall sector deal value declined by 32% to $30.8 billion according to figures from EY while deal volume was up 17% to 134.

Asia Pacific recorded the highest regional deal value at U$13.5 billion and the largest average deal size of $384 million.

The region’s largest in T&D was the acquisition of a 50.4% stake in Australia’s Endeavour Energy for US$5.6b by a consortium led by Macquarie Infrastructure Group.

Europe was the only region to record a higher value quarter-on-quarter, rising 12% to $10.6 billion. The Americas saw a slump of 72% in the second quarter compared to the first to $5.9 billion with the US down 77% to $4.4 billion.

DLA Piper adds Hong Kong partner to Leverage Finance team
Doug Murning has joined DLA Piper in its Leverage Finance team, part of the finance & projects practice.

He was previously with Kirkland & Ellis in Hong Kong and will split his time between Asia Pacific and London. He advises both borrowers and capital providers at all levels of the capital structure.

Also joining the team is Phil Crump who will lead the Leverage Finance team in London.

Dentons hires team from Bakers to launch tax practice
Dentons in the Netherlands has launched a tax practice by hiring a team of four from Baker McKenzie.

The global firm entered the Dutch market in May this year through its combination with Boekel and the addition of a tax practice is a vital step in the expansion of the Amsterdam office and Denton’s global tax practice.