Paul, Hastings, Janofsky & Walker, a leading global law firm, announced today that it is advising China Everbright Limited (“China Everbright”), a financial services company whose shares are listed on the Hong Kong Stock Exchange, in the disposal of 51% of the share capital of Everbright Securities (International) Limited to Everbright Securities Company Limited (“Everbright Securities”), a financial services company whose shares are listed on the Shanghai Stock Exchange, for a consideration of approximately US$114 million.
The consideration payable by China Everbright was reached with reference to a range of price-to-earnings (P/E) multiples of the companies selected from among the listed companies in Hong Kong with businesses similar to those of Everbright Securities (International) Limited and the net profit of Everbright Securities (International) Limited for the year ended 31 December 2010.
Following the disposal, China Everbright and Everbright Securities will become joint venture partners, thus allowing China Everbright to make use of the extensive network of Everbright Securities in the PRC to further develop its securities, futures, forex and bullion brokerage services, wealth management services, investment banking and research businesses in Hong Kong.
The Paul Hastings team is being led by partner Vivian Lam with support from associate Ling Ling.
Sheppard, Mullin, Richter & Hampton LLP has added attorney Michael A. Molano. Molano, who joins from Mayor Brown, will concentrate his practice in Silicon Valley within the Intellectual Property practice group. In 1993, he received his J.D. from St. Louis School of Law, and attended Northwestern University where he received a B.S. In Electrical Engineering. Molano is currently a registered patent attorney.
Covington & Burling has expanded its firm with 50 lawyers from Heller Ehrman. The attorneys joining the firm are widespread: 14 partners, six counsel, and even more associates. Covington has also announced their plans to launch two new offices in California: Silicon Valley and San Diego. But, that is not the last we will hear of Covington’s additions. There are still more potential laterals waiting in the wings.
Source: www.legaltimes.typepad.com
Quinn Emanuel Urquhart Oliver & Hedges has snagged an in-house litigator from Samsung Electronics. John Kim, previously senior intellectual property litigation counsel for the company, has joined the firm’s Silicon Valley office. starting June 9th. Kim has an excellent academic record, having graduating Cornell University with a mechanical engineering degree, and having received his J.D. from American University Washington College of Law. http://www.law.com/jsp/ihc/PubArticleIHC.jsp?id=1202422258508
Simpson Thacher & Bartlett has hired a partner from Akin Gump for its executive compensation and employee benefits group. Tristan Brown joins as Partner in Simpon Thacher’s Palo Alto office. The firm welcomes him with open arms.
Source: www.earthtimes.org

