The firm is also advising Body Shop International on a joint venture with the vendors of Mighty Ocean which will be granted the rights for The Body Shop business in The People’s Republic of China. In London, the Baker & McKenzie team was led by corporate partner Bernd Ratzke, with assistance from corporate associate James Stephen. In Hong Kong, corporate partner David Fleming worked on the transaction with assistance from corporate associate Stephen Chan.

Pillsbury Winthrop represented Headwaters Incorporated in a Rule 144A offering of US$150 ($220) million of 2-7/8 per cent Convertible Senior Subordinated Notes due 2016. The initial purchasers for the transaction were Morgan Stanley & Co. Incorporated, JPMorgan Securities Inc., Adams, Harkness & Hill, Inc., RBC Capital Markets Corporation and Stephens Inc. Headwaters Incorporated is a developer of technologies that enhance the value of coal, gas, oil and other natural resources. The transaction closed on June 1, 2004.

Linklaters is advising National Grid Transco (NGT) on its US$2.05 ($2.9) billion acquisition of the UK mobile telecommunications and broadcasting infrastructure business of the US company Crown Castle. The deal, which is subject to the approval of the Office of Fair Trading and the US Federal Communications Commission, is NGT’s first major acquisition following the merger between National Grid and Lattice Group two years ago.