Firm Profile > Shearman & Sterling LLP > Paris, France

Dispute resolution: International arbitration Tier 1

Shearman & Sterling LLP was recently instructed to act in a series of investment and commercial arbitrations for both new and long-established clients, including states and French and international corporations. The 50-lawyer practice remains highly active in high-profile oil and gas, construction and energy matters in relation with North Africa. It is also increasingly visible in cases involving Sub-Saharan Africa, notably on concession issues, and is representing Eastern European states in several matters. Finally, the practice is also dealing with disputes involving the European renewables market and is advising on several matters involving Chinese and Asian parties. Recent highlights include representing Egypt in two long‐term investment arbitrations relating to gas supply agreements dealing with the export of Egyptian gas to Israel, and Sonatrach in an ICC arbitration brought by Saipem regarding the construction of gas liquefaction facilities. The firm also successfully acted for Croatia in an ICSID arbitration with an Austrian party regarding a food products enterprise, and Lithuania in an ICSID arbitration initiated by Veolia Environnement relating to district heating and power generation. Algeria, Ukraine and Areva are clients. The practice is headed at the global level by the very highly regarded Emmanuel Gaillard. Yas Banifatemi is global head of the firm’s public international law practice. Coralie Darrigade, Maude Lebois, Mohamed Shelbaya and Jennifer Younan are all up-and-coming members of the team. The Paris hub recently welcomed Jeremy Sharpe from the London office, while newly promoted partner Daniel Reich joined the New York office. Counsel Benjamin Siino also deserves a mention for his expertise in award enforcement procedures.

International arbitration Tier 1

Capital markets: equity capital markets Tier 2

Shearman & Sterling LLP is noted for its strong expertise in management and employee incentive schemes, in addition to its strong track record in IPOs, rights offerings, block trades and securities, both hybrid and equity-linked. Jointly with the corporate team it advised Vivendi on its simplified public tender offer for the remaining Havas Group shares after Vivendi's acquisition of Bolloré's 60% stake in Havas Group. Another emblematic matter for the co-operation between the corporate and capital market teams was assisting Japan Nuclear Fuel with its investment in Orano, including a €3bn capital increase conducted in two stages through reserved capital increases. Practice head Hervé Letréguilly and governance, compensation and employee shareholding specialist Sami Toutounji are the key practitioners, alongside counsel Séverine de la Courtie. Altice USA, Crédit Industriel et Commercial and Saint-Gobain also count among the clients.

Banking and finance: transactional work Tier 3

Shearman & Sterling LLP concentrates on acquisition, asset and energy finance as well as refinancings. Real estate finance and debt restructuring are other key specialisms. A recent highlight saw practice head Pierre-Nicolas Ferrand cooperate with London partner Peter Hayes to advise Nomura as lead arranger on a €1bn-equivalent financing to back Caisse de dépôt et placement du Québec's acquisition of a minority stake in Sebia from Astorg and Montagu. Another standout instruction came from Deutsche Pfandbriefbank, which the firm assisted with the financing of the acquisition of a Parisian office and retail building by GH Group. BNP Paribas, Nokia and Barclays Capital are also clients. Philippe Wolanski left for Watson Farley & Williams LLP, while counsel Lachlan Poustie joined from Allen & Overy LLP.

Mergers and acquisitions Tier 3

Shearman & Sterling LLP's expertise spans a wide range of sectors but the team has a marked focus on the financial services, healthcare and pharmaceutical, TMT and energy sectors. Practice head Guillaume Isautier and Nicolas Bombrun shoulder the majority of the work, with key support coming from of counsel Cyrille Niedzielski and counsels Barbara Le Chapellier and Marie Pouget. Recent highlights include advising Novartis on its $3.9bn acquisition of Advanced Accelerator Applications and assisting Japan Nuclear Fuel with its investment in Orano as part of Areva's €4.5bn global restructuring. Amundi, Jin Jiang and Société Générale also count among the team's clients.

Tax Tier 3

Shearman & Sterling LLP is a top choice for tax advice on complex private and public M&A as well as private equity transactions. Large French, US and Asian companies as well as private equity funds are clients. Practice head Niels Dejean is highly regarded.

Insolvency Tier 4

Shearman & Sterling LLP recently advised on debt restructuring and refinancing transactions for banks, investors and debtors. The firm notably assisted Japan Nuclear Fuel with the restructuring of Areva’s debt including a capital increase. Banque Themis is also a client. Finance practice head Pierre-Nicolas Ferrand also leads the restructuring and insolvency group. Philippe Wolanski, formerly a counsel with the firm, joined Watson Farley & Williams LLP.