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Asia Deal Digest: August 15, 2013
* Skadden guides U.S. auto parts maker on $1.25 billion China JV exit* Allen & Gledhill on $906 million Singapore hotel buy* Firms feast on Domino's Pizza Japan takeoverU.K.'s Allen & Overy Opens in Australia
With its Monday announcement that it is opening offices in Sydney and Perth with 17 locally recruited partners, British legal giant Allen & Overy is clearly making a major push into Australia.Watching U.S., Australian Law Firms Debate Lockstep Salaries
The debate among U.S. firms over whether to keep or abandon lockstep compensation for associates is being closely watched from distant shores. The Australian, Australia's largest newspaper, reports that major firms there are also looking at introducing performance-based pay systems. "Over time I think you will see movement (in Australia) moving away from lockstep towards greater degrees of performance-based salary-setting," Robert Milliner, of Mallesons Stephen Jaques, told the newspaper.Latham Finance Partner Named to World Bank's Executive Board
Mohammed Al-Sheikh, former cochair of the Islamic finance practice at Latham & Watkins and managing partner of the firm's Riyadh office, is stepping down to become an executive director of the World Bank, a global institution that has served as home to more than one powerful international lawyer over the years.Asia Deal Digest: August 22, 2013
* Herbert Smith Freehills on a $4.2 billion Chinese energy investment in Mozambique* ClarkeKann takes Formosa Plastics Down Under for an iron ore mining project* WongPartnership and Allen & Gledhill on an Islamic trust certificate issueTrending Stories
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