find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
Chinalco mess a win for dealmakers: Deacons

Chinalco mess a win for dealmakers: Deacons

The collapsed $19.5 billion Rio Tinto-Chinalco deal may help foster more deal making from China, a Deacons lawyer has claimed. _x000D_

THE collapsed $19.5 billion Rio Tinto-Chinalco deal may help foster more deal making from China, a Deacons lawyer has claimed. 


The deal, which would have given state-owned Aluminum Corp of China an 18 per cent stake in Rio Tinto, on top of some direct stakes in some mining assets, was politically fraught" and detrimental to other deals, said Ian McCubbin, head of the China practice at Deacons. 


"Now that the Chinalco proposal is no longer on the table each investment proposal from China can be judged on its particular merits," said McCubbin. 


The deal may have "delayed decisions on other proposals", he said in the Wall Street Journal. 


McCubbin is currently overseas so was unavailable to speak to The New Lawyer before press today, but the China expert said Australian law firms are already seeing evidence of broader interest from China in sectors such as energy, infrastructure, and areas such as telecommunications, real estate and agribusiness. 


"The [Australian] Government will no doubt be pleased that the market relieved it of the responsibility of making a ruling [on the Chinalco deal]," said McCubbin, referring to the rise in Rio Tinto's stock price that made the Chinalco offer less attractive to Rio's shareholders. 





Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Chinalco mess a win for dealmakers: Deacons
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
LCA president Fiona McLeod SC
Aug 17 2017
Where social fault lines meet the justice gap in Aus
After just returning from a tour of the Northern Territory, LCA president Fiona McLeod SC speaks wit...
Marriage equality flag
Aug 17 2017
ALHR backs High Court challenge to marriage equality postal vote
Australian Lawyers for Human Rights (ALHR) has voiced its support for a constitutional challenge to ...
Give advice
Aug 17 2017
A-G issues advice on judiciary’s public presence
Commonwealth Attorney-General George Brandis QC has offered his advice on the public presence of jud...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...