The Legal 500

Within Capital markets, tier 4

Benefiting from its recent absorption of Cochrane Lishman Carson Luscombe and Chang Pistilli & Simmons, Clifford Chance Australia is now visible in the equity capital markets space. Sydney-based Lance Sacks led advice to RBS Morgans on the management and underwriting of Silex Systems’ placement of a A$109.3m share purchase plan. Perth-based Tracey Renshaw, Paul Vinci and Michael Lishman lead the practice.

Within Corporate and M&A, Clifford Chance is a third tier firm,

Clifford Chance Australia - formed by the merger with boutiques Chang, Pistilli & Simmons and Cochrane Lishman Carson Luscombe - has a ten-partner corporate and M&A practice with a ‘clear appreciation of the commercial objective’. Mark Pistilli is one of the lead partners advising Ricegrowers (SunRice) on Ebro Foods’ unsolicited A$600m bid for the company. Jason Mendens, Lance Sacks and Justin Harris are recommended.

Within Dispute resolution, tier 5

Clifford Chance Australia’s new operations benefit substantially from Diana Chang’s well-established reputation. Chang is leading representation of HNA Group and related companies in shareholder rights proceedings. Tim Grave and Ben Luscombe are also recommended.

Within Energy and resources, tier 4

The integration of Chang, Pistilli & Simmons and Cochrane Lishman Carson Luscombe provided Clifford Chance Australia with an immediate presence in Sydney and Perth. Recent significant transactions for Mark Pistilli and Jason Mendens included the A$130m Mosaic/AGL takeover and APA Group’s A$46m acquisition of a further interest in the South East Australian Gas Pipeline (SEAGas). Michael Lishman is also recommended.

Within Foreign firms,

There is a growing trend towards foreign law firms entering the Australian market. Clifford Chance Australia’s recent three-way tie-up with two local boutiques has given it 14 partners in offices in Perth and Sydney, and a significant practice focusing on domestic M&A and inbound investment.

Within Legal market overview,

The maturity of Australia’s legal market has seen a number of very strong mid-tier firms fighting for market share, providing ‘City-quality work at competitive prices’. This has seen major instructions going to high-quality regional firms such as Brisbane-based McCullough Robertson. Another recent trend has been “the rise of the boutiques”, and it was interesting to note Clifford Chance’s decision to absorb two reputable boutique firms (Chang Pistilli & Simmons, and Cochrane Lishman Carson Luscombe) rather than attempt a tie-up with one of the full-service national players. Another notable move was Gilbert + Tobin’s absorption of Perth-based Blakiston & Crabb, which brought to the fold its strong focus on energy.