Cleary Gottlieb Named European Legal Team of the Year at the British Legal Awards

Cleary Gottlieb was named “European Legal Team of the Year” at the 2010 British Legal Awards ceremony, held in London on December 2, 2010, for the firm’s work on Volkswagen’s €4.2 billion capital increase.

Cleary Gottlieb represented BofA, Merrill Lynch, Citi, Deutsche Bank, HSBC Trinkaus and J.P. Morgan as joint global coordinators and joint lead bookrunners in the offering of 64.9 million new preferred shares of Volkswagen at an offer price of €65 per share. Based on publicly available information, the transaction was the largest rights offering of a German listed company outside the financial sector in more than ten years.

The British Legal Awards are hosted by Legal Week, the sister publication of The American Lawyer. The short-list was determined by the publication’s editorial team, and voted on by a panel of judges including several high profile general counsel. This is the second consecutive year that the firm has won this award.