EMEA

Coronavirus Resource Center

The recent outbreak of the coronavirus COVID-19 has quickly evolved from a local issue to a global crisis. In addition to the tragic human loss, the disease is having and will continue to have a profound economic impact. On this page we will be providing regular legal updates on issues affecting our clients’ businesses around the world. Below is a list of our published updates.

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building
Insight
US P2P activity falls, but activity in Europe perseveres
Despite a drop in activity, public-to-private (P2P) transactions in Europe have continued through 2020, unlike in the US market, where they have fallen sharply
coal gasification to methanol plant
Insight
Chemicals and materials deals down from 2019 highs but recovery is on the way
While COVID shut the window on deals in H1 2020, Q3 saw a revival that augurs well for the rest of the year and beyond
Financial stock display
Insight
Global M&A stages rebound in Q3 2020
After deal activity stagnated in H1, the third quarter offers some hope for dealmakers, as deal volume and value surpass Q3 2019
buildings
Insight
High yield bond activity continues to climb
Although US high yield bond issuance cooled somewhat in Q3 2020, it still hit record highs, while European activity remained on an upward trend
Alert
FRC Review: AGMs – An Opportunity for Change
Alert
Spotlight on Debt Finance: opportunities in the United Arab Emirates
Coins
Insight
Replacing Pay with Equity to Preserve Cash in a COVID Economy
As pandemic effects linger, companies intent on avoiding layoffs are looking at compensating workers with equity in lieu of cash as part of their pay.
Alert
Taking the EU Customs Union to the next level – an ambitious Action Plan
Alert
Project Finance, human rights and climate change: Updated Equator Principles 4 in effect from October
London city photo
Insight
CIGA: Super-scheme to the rescue?
The UK's new Corporate Insolvency and Governance Act introduces a restructuring plan procedure that enhances the flexibility of the English scheme of arrangement
computer codes
Insight
Software M&A shows resilience in challenging market
While not unscathed by the ongoing pandemic, software deals are proving to be resilient to the effects of lockdown
building
Insight
Spanish dealmaking defies health and economic crisis
While Spain's recession is expected to be among the deepest on the continent, the nation has remained one of the most attractive deal destinations in Europe for PE and M&A
Alert
The new reality for UK employers - Part 1: Planning for the end of furlough
LED lights
Insight
Lenders calm despite fallen angel risks
Although COVID-19 lockdowns have seen high-profile companies lose their investment grade status, lenders have continued to support these credits
Alert
"Cheque, please" – Is the cost of fraudulent furlough scheme applications starting to emerge?
Alert
EU unveils action plan to secure access to critical raw materials
office building windows
Insight
Lenders' views on documentation diverge under lockdown
The decline in H1 2020 leveraged finance issuance has seen some lenders intensify their focus on pricing and borrower-friendly loan structures, but lender responses to the impact of COVID-19 have diverged across regions
computer and mobile gaming
Insight
Online gaming M&A levels up
The online gaming industry has flourished amid stay-at-home orders
grey stairs
Insight
Are rising default rates cause for concern?
Leveraged finance defaults are rising as the impact of COVID-19 is felt, but covenant-lite terms, government intervention and support from financial sponsors have mitigated fallout from the pandemic
metal wall
Insight
High yield bond issuance rebounds
After COVID-19 concerns brought issuance to a near halt in March, Q2 high yield bond activity climbed in most markets as borrowers sought to boost balance sheets and cash reserves
Patterns
Insight
ESG takes center stage amid economic crisis and social unrest
Strong ESG credentials and long-term plans to improve their relationship with society and the environment are increasingly important to ensure companies’ access to capital
Alert
Will 2020 See A Take Off for Turnover Rents In UK Real Estate?
graph
Insight
Loan markets show signs of life after COVID-19 shock
Investor sentiment has begun to recover, but ratings downgrades and higher pricing continue to keep loan markets on alert
Alert
Italy takes permanent and temporary steps to facilitate Rights Offerings and PIPE transactions
Alert
COVID-19: Acquisition of more than 10% voting rights by non-EU/EEA foreign investors in French listed companies will be subject to fast-track FDI review
Alert
FDI Regimes - The impact of COVID-19 on deal-making
Alert
"100 measures for business sector" - Overview of the most recent measures to enhance the business environment after the downturn caused by the COVID-19 pandemic
Milan, Italy
Insight
A strong start to the year mitigated the impact of COVID-19 on Italian M&A
A handful of large deals struck early in the year provided a few bright spots for Italian M&A activity in H1 2020
stocks
Insight
Global M&A value collapses to record lows in Q2 2020
As the COVID-19 pandemic spread, global M&A value dropped to the lowest half-yearly total since H1 2010
Insight
Global PE buyout activity stays relatively robust in H1
Amidst the COVID-19 pandemic, total buyout volume in the first half of 2020 dropped 23% annually, while value fell 30%—less than half the rate of decline of overall M&A
Alert
COVID-19: Global Government Financial Assistance Measures
Our global team can provide advice on eligibility for governmental financial assistance measures on a global basis. 
Alert
State of the art of the Italian liquidity measures – Keeping Italian Companies Alive?
Alert
CCPs, Cleared Derivatives and Coronavirus
Paris
Insight
France hopes for recovery after COVID deal dip
French M&A activity has suffered steep falls because of COVID-19, but green shoots are emerging as lockdown measures ease
circuit board
Insight
Technology M&A remains resilient in the face of COVID-19 crisis
Technology dealmaking has continued apace in 2020 as M&A investors take advantage of the sector's resilience to transact
DNA
Insight
Healthcare M&A prospers, despite fall in deal activity
The megadeals of 2019 may be off the table for now, but deal activity across healthcare and pharmaceuticals has proven resilient through the COVID-19 crisis
Alert
European Real Estate Finance: Market update – Q2 2020
Refinery
Insight
Oil & gas industry feels financing squeeze
Low prices and excess supply have pushed oil & gas balance sheets to the brink, which means raising traditional debt will remain difficult and restructurings are expected
Alert
UK ushers in new foreign takeover restrictions for Coronavirus-critical businesses and national security activities
circuit board
Insight
Technology sector shows resilience during lockdowns
Remote working, online shopping and telemedicine have shielded the technology sector from the worst effects of COVID-19 lockdowns