Global firms benefit as cannabis sector escalates

by Steve Randall14 May 2019

Global firms benefit as cannabis sector escalates
Law firms are reaping the rewards of the legalisation of the recreational cannabis sector in Canada and its potential for growth as other jurisdictions relax laws, especially for medicinal use.

Baker McKenzie has announced its role in a significant transaction in the sector, the U$200m cross-border public offering by Canadian firm CannTrust Holdings Inc. The transaction was under the Multijurisdictional Disclosure System established between Canada and the United States.

Baker McKenzie acted as Canadian counsel to a syndicate of US and Canadian underwriters led by Bank of America Merrill Lynch, Credit Suisse and RBC Capital Markets as the lead bookrunners.

Meanwhile, Norton Rose Fulbright has advised Canadian producer Canopy Growth on its €225.9m acquisition of Cannabinoid Compound Company (C3) founded by German-based Bionorica SE.

“Investments and acquisitions related to cannabis-based therapeutics businesses continue to rise as companies seek to drive growth and build economies of scale in a highly competitive sector,” said Frankfurt-based partner Nils Rahlf, who led the NRF deal team.

Another firm opens Dublin office ahead of Brexit
The Irish capital continues to grow into one of Europe’s most prominent cities for law firms with another international name launching an office there.

Clyde & Co’s joins the likes of Simmons & Simmons, DLA Piper, and Pinsent Masons in preparing for potential Brexit disruption by opening an office in Dublin.

Insurance and reinsurance partner Garrett Moore is now based in Dublin having relocated from London. He will continue working with the firm’s Irish law team who continue to be based in the UK.

Mayer Brown makes senior hire for global energy team
The former head of the energy, projects, and construction team at CMS Cameron McKenna Nabarro Olswang has joined Mayer Brown.

Bob Palmer joins the corporate and securities practice as a partner, adding 30 years of experience to its global energy capabilities and boosting its reputation in the oil and gas sector.

"Bob has an outstanding reputation in the market and his in-depth knowledge and experience of the oil and gas sector will be a great asset to our clients. His addition will help grow our energy capabilities to be one of the market-leading practices in London to complement our strong global team across our offices in Houston, Rio de Janeiro, Paris, Singapore and Beijing. We are very pleased Bob is joining us," said Alex Chequer, head of the Oil & Gas group at Mayer Brown.