Jones Day Ranks #1 In M&A For 11th Year In A Row; Opening Offices In Saudi Arabia

Monday, January 31, 2011 - 00:00

Jones Day ranked #1 globally in M&A league tables for year-end 2010, maintaining a position it has held for 41 consecutive quarters. The firm also ranked #1 in the U.S.In M&A rankings released this month by Thomson Reuters, Jones Day led all law firms for number of completed deals worldwide, receiving credit for 345 transactions in 2010. The firm also ranked #1 for completed deals with U.S. targets, receiving credit for 206 transactions. In Bloomberg's M&A league tables for year-end based on number of announced deals, the firm ranked #1 in both the worldwide and U.S. rankings, receiving credit for 391 transactions worldwide and 289 deals with any U.S. involvement.

Among the transactions Jones Day's M&A team completed in 2010 are Potash Corporation of Saskatchewan's successful takeover defense against BHP Billiton; Continental Airlines' $8.5 billion merger-of-equals with United; SAP's $5.8 billion acquisition of Sybase; and Ixe Grupo Financiero, S.A.B. de C.V.'s 16.2 billion Mexican peso (US$1.3 billion) merger with Grupo Financiero Banorte S.A.B de C.V.

Jones Day has held the #1 ranking for number of deals worldwide in both the Thomson Reuters and Bloomberg league tables every quarter since year-end 2000.

Jones Day has announced that it will open three offices in the Kingdom of Saudi Arabia in 2011. The offices will be located in Riyadh, Jeddah and Alkhobar. These openings will bring the total number of Jones Day locations worldwide to 37.

Jones Day will practice in the Kingdom in association with Alsulaim Alawaji & Partners Law Firm, a Saudi firm established in 1990 and with which Jones Day has worked closely for many years.

Yusuf Giansiracusa has rejoined Jones Day as partner-in-charge resident in the Riyadh office, which opened on January 1, 2011. Mr. Giansiracusa has worked with Saudi clients and foreign clients doing business in the Kingdom for the last 20 years. He represents several of the leading commercial and industrial families and has a broad range of experience in commercial and corporate transactions, industrial and infrastructure projects, OGP and private client matters.

Alsulaim Alawaji & Partners and Jones Day will open offices in Jeddah and in Alkhobar later in 2011. These offices will focus on project finance, mergers and acquisitions, and dispute resolution. The partner-in-charge resident in the Jeddah office will be Fahad Habib who will relocate from Jones Day's Washington office. Mr. Habib has for many years represented Saudi clients in complex litigation and has assisted multinational corporations on trade and regulatory issues involving the Middle East. The partner-in-charge resident in the Alkhobar office will be Oliver Passavant who has practiced at Jones Day for many years in both the United States and in Germany. Mr. Passavant has extensive experience in energy, mergers and acquisitions, finance, corporate restructuring, and intellectual property.

Stephen J. Brogan, managing partner of Jones Day said, "Jones Day has represented a number of important Saudi clients over the past two decades in a wide range of matters, including defending clients against unfair accusations of wrongdoing brought against them in high-profile litigation in the United States. In 2009, the firm decided it was time to re-establish a physical presence in the region, and we opened an office in Dubai. The Kingdom is the centre of economic activity in the Middle East and by far the largest economy. Opening associate offices in Riyadh, Jeddah and Alkhobar is a natural next step as we seek to serve our clients' needs in each of the three quite different and very important commercial centers in the Kingdom."