As it’s Saint Patrick’s Day this week, we thought it opportune to send the first of our regular updates on Irish legal developments to our Continental European friends and contacts.
Despite a very challenging recent period for Ireland, we are delighted to report that an independent survey has ranked Ireland as the number one destination globally in 2010 for jobs created by Foreign Direct Investment (IBM’s 2010 Global Location Trends Report). Further confirmation of Ireland’s position in the global business world is contained in the recent report from the World Bank, ranking Ireland as one of the Top 10 countries in the world in which to do business.
Much of the negative international media commentary on Ireland has been misplaced. The economy is diversified with a first-class tourist infrastructure and export-led strengths in food and agriculture, pharmaceuticals, life sciences, technology and asset management; all underpinned by a business-friendly taxation regime. Multi-national companies based in Ireland remain optimistic; almost half the multi-national companies operating in Ireland expect to increase the amount they export next year. A survey by the Irish Management Institute and National Irish Bank found that 47 per cent of multinationals expect turnover to increase in 2011. We include a link to a recent presentation on the strengths of the Irish economy, which corrects some of the recent media commentary. To view this short presentation, please click here.
Recent high profile work or news at William Fry includes:
- William Fry has been ranked as the No.1 Irish law firm by deal value for mergers and acquisitions activity for 2010 by global league table house, mergermarket. This result underlines our leading position in M&A both domestically and on international deals with an Irish aspect, even in this challenging market.
- Acting for SkillSoft on its US$1.2 billion takeover (which involved the first ever “go-shop” process in Ireland and the first ever completion following an announced revised offer).
- Acting for Ardagh Glass regarding its €1.7 billion acquisition of Impress Packaging.
- Advising ESB, the Irish incumbent electricity provider, on its recent acquisition of NIE plc (the Northern Irish Electricity transmission and distribution business) – value €1 billion plus.
- Our Investment Funds team advises the highest percentage of Exchange Traded Funds in the Irish market.
- Acting for Norkom Technologies on its €217 million sale to BAE Systems.
We hope you find this e-zine informative. If you have any queries or comments, please let one of us know.
To view the articles, please click on the relevant link below:
