The Legal 500

The overall level of legal services at Allen & Overy LLP is ‘excellent, thanks to Pierre-Olivier Mahieu’, who offers ‘availability and openness, the ability to propose business-oriented solutions and to negotiate efficiently’. The five-partner team also has proven experience in managing partner Dirk Meeus. The team saw state aid enforced disposals for KBC in the €1.35bn transfer of a private banking arm to the Hinduja Group. It advised on complex restructurings involving Deceuninck and Aviapartner. The sale of KPN’s €65m B2B network to Mobistar illustrates the team’s continuing attraction to non-financial sector clients. Pascal Weerts moved in-house, being replaced by new partner Hans Kets. Wouter Van De Voorde is ‘a good dealmaker, thanks to his business sense and ability to make the complicated, understandable’.

Cleary Gottlieb Steen & Hamilton LLP is described by clients as ‘the best in town’; whilst still managing complex outturns from 2009’s merger of BNP Paribas and Fortis, it acted at the quality end of a quieter market. Advising Bekaert on the simultaneous sale of diamond-like coating activities in the EU and the US demonstrates flair for cross-border deals. It also assisted GDF Suez/Electrabel on the sale, through an accelerated book-built placement, of 11.7% of Elia, and advised Truvo in a complex cross-border corporate restructuring involving €1.6bn of debt. Jan Meyers is ‘peerless in his ability to understand complex underlying business reality’.

Eubelius provides an excellent independent alternative to those seeking a premium service in the Belgian market, at all levels of deal. The respected and fast-growing team, with highly admired team leaders Koen Geens and Marieke Wyckaert, advised KBC in its divestment of two credit institutions, worked with ING/Petercam on a €75m bond issue for Banimmo. It also arranged a €299m secondary public offering for electricity supply provider Elia on Euronext Brussels, and a €97.75m IPO for speciality pharma client, Movetis. Frank Hellemans is a ‘top expert who delivers swift, accurate and very useful advice’. Matthias Wauters is also rated by clients.

Linklaters has adapted fluently to changed market conditions. It offers ‘excellent service and responsiveness’ from an ‘integrated team of lawyers working seamlessly together’. It has executed state aid mandated divestiture programmes, advising KBC and Dexia. It continues to assist Ageas, formerly Fortis Holding, on its post-bailout reorientation as an insurance group and on legacy issues. It also advised banking syndicates in the restructuring of Samsonite, Sovitec and Truvo. The team’s standing with private equity clients, such as Waterland and Montagu, remains high. The team advised on Candover’s sale of nappy makers Ontex to TPG and Goldman Sachs, one of the first major secondary buy-outs for years. The group is described as ‘highly skilled but down-to-earth with good commercial judgement’. Clients say that ‘most importantly: it get things done’. Jean-Pierre Blumberg, Eric Pottier and Paul Van Hooghten are recommended, as is Jean-Marie Nelissen Grade for corporate litigation.

Stibbe’s corporate team has excellent market recognition, with Olivier Clevenbergh and Pascal Vanden Borre recommended. With a 28-lawyer team, it has the resources to suit any deal, and the flexibility to adapt. Instructions from Goldman Sachs on Belgium’s largest ever secondary buy-out, at €1.2bn ran alongside work on Amcor’s €2bn acquisition of Rio Tinto Alcan’s EU packaging business, and the €735m sale of Vitol’s stake in a subsidiary. It also assisted supermarket Carrefour in a highly public restructuring of operations. Clients say the team is ‘really professional and prompt with its answers and well qualified’ and that ‘it always delivers on time.’

Baker & McKenzie acted on a €267m disposal of KBC’s shares in Belgian reinsurer Secura, typical of downturn-influenced disposals, while it also did excellent mid-market work for GIMV, IK Investments and Gores. Clients note the firm’s ‘excellent and flexible worldwide network’, and the two Belgian offices have ‘a good understanding of client needs’. The corporate team, which features the well-regarded Koen Vanhaerents, Dominique Maes and Roel Meers has ‘excellent knowledge and strong negotiation skills’. Roel Meers was made partner in July 2010.

‘The overall level of service at Clifford Chance is excellent, from quality to reliability of opinion, to timing’. The firm has remained active in the field of energy, advising on two major transactions, namely Publi-T’s €160m acquisition of an additional stake in Elia and Publigas’ €635m acquisition of GDF Suez/Electrabel’s stock in Fluxys. The practice counts Dexia, InBev and TNT as clients, plus private equity firms Apax Partners and Bridgepoint, alongside several listed REITs. Clients single out Philippe Hamer as ‘an extremely mature lawyer providing excellent input in company law, commercial contracts and litigation’.

The level of service at Freshfields Bruckhaus Deringer is ‘amongst the best we have ever seen’, say clients. ‘The department works in small, very reactive, cost-effective teams’. The focused team handled post-transactional work in relation to the sale of Fortis to BNP Paribas. Geert Verhoeven assisted Solvay in its the sale of 50% shareholding in Inergy in a €270m deal, and also acted for Elia in a €810m acquisition deal with Vattenfall’s German power grid subsidiary. Vincent Macq’s work for private companies is no less worthwhile, acting on a €70m healthcare disposal.

Liedekerke Wolters Waelbroeck Kirkpatrick is considered ‘outstanding. The overall level of service is of extremely high quality, reliable, and most effective. The team is knowledgeable, experienced, and pleasant to work with’. The team managed the consequences arising from the rescues of Fortis, Ethias and Dexia, in acting for the Federal Holding and Investment Company, a state-backed vehicle set up to assist Belgium’s banks. Thierry Tilquin is lead contact. Tom Van Dyck made partner.

Loyens & Loeff maintains a steady practice; deal highlights for Grégoire Jakhian included counsel to EDF Group in integrating its 51% stake in SPE, with associated negotiations with existing and minority shareholders; the well-respected Peter Callens acted for Monument Chemicals, in its acquisition of Haltermann Custom Processing. The team offers ‘very good value for money, with lawyers who know the local legal constraints and market practices’. Senior associate Damien Conem is ‘extremely available, helpful and totally dedicated’.

Lydian’s Peter De Ryck continues to receive praise, being ‘very customer-minded and devoted, with deep knowledge and expertise’. Complex and contested deals pose no problems for the team, advising SMI and Eckert Ziegler in a mandatory take-over of IBt involved appellate litigation and regulatory clearance under the new Belgian Takeover Code, in a €40m deal. The team also counsels KBC, SMI, Citibank and Pentahold. Patrick della Faille joined with a three-lawyer team in October 2010. Clients say the team provides a ‘very high level of service, short response times, in-depth knowledge of corporate matters, and high value for money’.

Altius (in co-operation with Tiberghien)’s Carine Van Regenmortel acted for Cigna, a large US insurance client, in its takeover of Van Breda, Belgium’s largest health insurance broker, with a pan-EU business. The team also assisted on a number of corporate real estate acquisitions and disposals, chiefly of hotel chains and property investment companies. Clients include Kone and Fitness First.

DLA Piper‘s Erwin Simons acted for TiGenix, on two private placements and on its acquisition of Orthomimetics, with a total value of €29m, as well as assisting Dutch telecoms company, KPN, on the sale of Infotechnique. Caroline Dauot assisted on the MBO of Idem Papers from Arjo Wiggins, and Jean-Michel Detry is recommended for extensive corporate litigation experience.

Laga‘s work achievements over 2009/2010 included representing ING, Petercam and Dexia, in underwriting the €79m Euronext IPO of Warehouses De Pauw (a Belgian REIT). It also assisted Telenet on its acquisition of BelCompany, and Picanol on a capital increase, shareholder squeeze-out and public offering, worth €15m. Hilde Laga is recommended. David Roelens ‘has a commercial spirit, but is also technically strong and a good negotiator’.

Monard – D’Hulst’s pan-Belgian mid-market practice receives great feedback; Erik Monard is ‘an excellent lawyer in a large diversity of areas’, while Peter Rooryck is ‘a real deal maker, a strong but flexible negotiator with a good helicopter view’. The team’s deal highlights are equally impressive. Peter Rooryck assisted on various transactions for Punch, and a €30m purchase by Descartes Systems for Zemblaz; it was also active in smaller deals for KBC Private Equity, Acertys and Esko-Graphic.

NautaDutilh offers ‘very good quality’. It has experience in handling deal diversity to suit any sector, assisting QBE in its acquisition of Secura, a Belgian-based specialist reinsurer, and advising US and UK institutional investors in the debt restructuring of the Deceuninck group, valued at €315m, one of the most complex restructurings, involving all the major Belgian banks. Dirk Van Gerven is a name to note, as is Jacques Meunier.

‘My choice for corporate/M&A work’, Simont Braun remains a popular choice for clients, with Solvay, P&V Assurances, Galeries Royales and Aedifica among their number. The full gamut of company and corporate law advice is provided. Lead partners are Sandrine Hirsch and Vanessa Marquette, both praised for a high level of competence.

Van Bael & Bellis assisted Dutch group Corio on the Belgian aspects of a €1.3bn acquisition of an international shopping centre portfolio, whilst also supporting Sofidel in relation to Belgian aspects of an acquisition creating Europe’s second largest tissue producer. Clients say the firm is ‘fast, experienced, sharp and responsive’ and offers ‘a very good level of service from a very dedicated team’. Pascal Faes is a ‘very pragmatic and available lawyer, with deep skills in both the corporate and tax areas, excellent business and financial knowledge, sound judgment and great instincts’.

White & Case LLP Avocats Advocaten is a ‘top firm’, whose key deals included assisting private equity house Cobepa in its purchase of a 10% stake in Degroof Bank, the largest independent bank in Belgium. It also represented investment company GIMV in connection with an LBO on the Bananas group. Stefan Odeurs has ‘real business feeling’.

Ambos NBGO has ‘super industry knowledge, is flexible and adapts to the client’s specific needs, using a personal approach. It delivers; on time, with value, knowledge, competence, and emotional intelligence, all cost-effectively’. It has good partner strength in Brussels and Antwerp, strong followings from mid-market clients, and the support of ex-De Bandt managing partner Roel Nieuwdorp. The team acted on the €25m restructuring of Autogrill, and assisted Option on a €20m offering of share capital. Kurt Faes is ‘top of the bill’ while ‘ David Dessers’s strengths and qualities consist of years of experience’.

Ashurst LLP has strong relationships with multinational conglomerates such as Bosch and Mitsubishi. It assisted Candover in the €1.2bn sale of Ontex, one of the largest private equity sales to date. Carl Meyntjens is the lead contact; Kelly Cherretté was promoted to counsel.

Bird & Bird LLP’s Paul Hermant and Alain Costantini remain active; they assisted in a private equity investment in Mondial Telecom, and worked with Ethias on a corporate restructuring. Alain Costantini offers corporate advice for international associations, covering twenty such bodies.

The new team head at CMS DeBacker, Vincent Dirckx, has applied energy to his team’s work, winning instructions from Delhaize Group, Belgium’s largest food retailer, and local restructuring for Fujifilm, courier services provider Link2Biz and American Express. Cedric Guyot is recommended.

Dechert LLP’s practice has a good niche in assisting network regulated industries, such as electricity and gas. It regularly advises Elia on corporate matters. The team also assisted private shareholders on investment disposals and industrial companies such as Group De Cloedt. Gas operator Fluxys is also a client René Gonne is the main contact.

Eversheds’ Koen Devos was instructed on the sale of a consumer tissue business in Belgium, acting for the sellers, in a multijurisdictional transaction; he also assisted with Intersystem’s share purchase of I.know.

Signature deals for Jones Day included working with Bridgestone’s Brussels-based EU HQ in the sale of two of Bridgestone’s subsidiaries to Belgian-based Bekaert. The team is ‘very client-oriented, mindful of costs and punctuality, is particularly user-friendly, solution-oriented and responsive to the idiosyncrasies involved with working for a multinational client based outside Europe’. Luc Houben and Thomas De Muynck are recommended.

Olislaegers & De Creus acts for a Euronext-listed food distribution group, amongst other regional businesses, and US clients requiring Belgian law advice. Michael Olislaegers has ‘extensive knowledge, a friendly attitude and is cooperative and pro-active’.

Crowell & Moring’s Emmanuel Gybels acts for a significant number of medium-sized companies and on local aspects of larger transactions, mainly in the media, defence and biotech sectors. He is described as a ‘solid veteran in his field’. The firm provides a ‘very good overall level of service, fast response times, very good advice, and good coverage for our issues’ say clients.

De Wolf & Partners’ Patrick De Wolf is noted positively for his company law experience on restructuring, start-ups and Belgian joint ventures. The firm is linked to the Osborne Clark network, giving it an international reach.

Hunton & Williams LLP is ‘of excellent quality in terms of timing, business and industry knowledge and value for money. The lawyers in the firm are extremely pleasant to work with’. Recommended contact Hervé Cogels provides corporate and commercial law advice.

Laun’s two partners, Yolande Meyvis and Marleen Mouton, in addition to having good links to UK firms, specialise in company/commercial law, including start-ups. The firm is recognised for its high potential, and is also adviser to KMO Portefeuille.

Lorenz advised the shareholders of Foodinvest Group on the organisation's sale to Belgian retailer Colruyt, and assisted Belgian charity St Clemens in a major reorganisation. Steven de Schrijver is ‘extraordinarily responsive, thorough and intelligent’.

Marx, Van Ranst, Vermeersch & Partners’ three partner unit of Nicole Van Ranst, Kristoffel Vermeersch and Klaus Heinemann assisted in the sale of a speciality Belgian brewer to a larger rival, and in the sale of a port terminal at one of Belgium’s smaller ports.

Verhaegen Walravens is recommended for ‘business acumen, and industry knowledge’, with Jacques Verhaegen the chief contact. Work for Approach Belgium, in seeking a capital increase, included drafting a warrant plan and associated certification, so as to preserve minority shareholder rights, thus stabilising control of the company.

Wilmer Cutler Pickering Hale and Dorr LLP assist a variety of US, German, and Swedish companies with their general corporate advisory needs, and corporate litigation and investigations. Of counsel Frank de Paepe is the main contact.