Shearman & Sterling is one of the world's premier law firms,
serving the domestic and cross-border needs of an impressive roster
of clients. With approximately 850 lawyers in 18 offices across
North America, Europe, Asia, Latin America and the Middle East, the
firm has an enviable blend of prestige, prowess and reach.
Almost 140 years ago, hotshot lawyers Thomas Shearman and John
Sterling locked hands in partnership, combining two legendary
reputations to lay down a law firm's foundation. Shearman &
Sterling didn't waste any time establishing itself-soon after the
firm's birth, it began forging relationships with Wall Street's
most commanding companies and personalities: the firm's first
client was Jay Gould, and Jim Fisk followed soon after. Citigroup
and its predecessor banks have been clients of the firm since the
late 19th century, and in the following years, the firm has
represented the financial institution in many transactions,
including its 1998 merger with Travelers Group to form the current
entity, Citigroup. In 1956, Shearman took Ford Motors public.
Skipping ahead a half-century or so, the firm notably represented
the financial advisor to Pixar when the animation company was
acquired by Disney in 2006. Known for its extensive domestic and
global M&A practice, Shearman also has prominent litigation and
arbitration practices and has worked on many significant matters,
including its representation of the Yukos shareholders in their
$100 billion compensation claim against Russia. Other well-regarded
practices include antitrust, corporate governance,
derivatives/structured products, executive compensation and
employee benefits, finance, financial institutions advisory and
financial regulatory, financial restructuring and insolvency,
investment funds and project development and finance.
A Sterling Philanthropic Legacy
Many Yale students have benefited from John Sterling's success,
whether they know it or not. When he died in 1918, Sterling left
behind a sizable fortune, opting to bequeath the residual of his
estate to his alma mater. That residual amounted to around $15
million-a stunningly large donation at the time-which was enough to
fund construction of the law school, the Sterling Memorial Library,
and the Hall of Graduate Studies, with petty cash left over for
various other campus landmarks and programs (such as the
prestigious Sterling Professorship).
Shearman & Sterling's global reach-especially its prominence
in Asia, India and the Middle East-opens the door to considerable
cross-border work for a who's who of international clients. The
firm has a broad-based practice in the Middle East-its
highly-successful Abu Dhabi office has been open since 1975.
Shearman serves many of India's most globally-focused companies,
advising on multi-billion dollar notes offerings (Reliance), IPOs
(MakeMyTrip) and M&A deals (Tata Tea, Mittal Steel and others).
With offices in Hong Kong, Beijing and Shanghai, Shearman has had a
hand in some of China's most significant international
transactions, as well. In addition, the firm's global Foreign
Corrupt Practices Act practice has over 30 years of experience
conducting major anti-corruption investigations and litigation and
designing numerous corporate compliance programs.
Shearman has also established itself in Central and South
Americas. With a presence in Brazil since the 1930s, the firm has
advised on some of the country's most significant financial
transactions, including Petrobas' global equity offering in
2010-one of the largest offerings ever-and its US$7 billion global
notes offering in 2012, the largest one-time debt offering ever by
a Latin American issuer. Outside of Brazil, the firm is active in
Chile, Colombia, Mexico and Panama-the Panama Canal Authority
called upon the firm to advise on the financing of the historic
expansion of the Panama Canal.
The Sahara Calls
Wondering how far Shearman's international reach is? Keep
looking. The firm's activity stretches all the way to
Africa-Shearman represented Absa Capital and Barclays Capital in
the then-largest ever leveraged financing in Africa. The firm also
advised a consortium on the building of the Dorper wind farm on
South Africa's Eastern Cape. The firm's pro bono work in Africa
continues to be the centerpiece of its global efforts. Shearman has
offered an externship in Tanzania at the Office of the Prosecutor
at the International Criminal Tribunal for Rwanda since 2000. Firm
attorneys also dedicate pro bono hours to various African causes,
ranging from human rights to assistance for children whose parents
are dying from HIV/AIDS to microfinance.
IN THE NEWS
Shearman & Sterling advised the joint global coordinators in
connection with a $1.7 billion initial public offering of
investment units of Jasmine Broadband Internet Infrastructure Fund
and listing on the Stock Exchange of Thailand, including a Rule
144A/Regulation S international offering. The IPO is one of the
largest and most complex ever in Thailand.
Shearman & Sterling lent its expertise to long-standing client
Qatar Investment Authority on its £2.6 billion joint bid to acquire
the entire issued share capital of Songbird Estates, the
controlling shareholder of Canary Wharf Group (CWG). CWG
specializes in integrated property development, investment and
management in Canary Wharf and other real estate in London.
Shearman & Sterling achieved a game-changing victory for our
client, Todd Newman, when the Second Circuit Court of Appeals
overturned his conviction and narrowed the scope of what
constitutes insider trading. This matter will likely have a major
impact on other pending high-profile insider trading cases.
Super Power Deal
CGN Power Co., Ltd., the largest nuclear power producer in China,
called on Shearman & Sterling for counsel in connection with
its $3.2 billion Hong Kong IPO and global offering. This is the
largest utility and energy deal on record by Chinese issuers.
In a project described as Mexico's biggest infrastructure project
in recent years and among the largest in the world, Shearman &
Sterling worked on a $1 billion financing, the first stage of a
proposed $12.9 billion financing, related to the development and
construction of a new airport in Mexico City.
An Award of Historic Proportions
The firm secured a $50 billion arbitral award-by far the largest in
history-for the majority shareholders of Yukos Oil Company. In this
unprecedented case, the Russian Federation was found to have
breached its international obligations by destroying Yukos and
appropriating its assets for political reasons.