State intervention in the economy is undoubtedly back, implying the development of new forms of regulation, both at national and supranational levels.
Rescue plans for distressed companies, government plans to boost the economy demonstrate this shift, while member States of the European Union head towards stronger coordination and integration of their interventions in the economy, public regulations, and tax systems. Likewise, the challenges facing the global economy have supported the development of new regulations and interventions of supranational institutions. In this context, to maintain market confidence while supporting economic growth, States increasingly opt for strategies including liberalisation, privatisation, project finance and public private partnerships, supplementing traditional regulatory and procurement activities.
Public & administrative law is a crucial offering at Linklaters in Europe. Linklaters’ pan-European expertise is long-standing in all fields of regulatory, administrative and environmental law aspects, including State aid, public procurement as well as urban planning. In addition, we advise on issues related to foreign investments and possible barriers to entry.
Clients seek the firm’s expertise in all regulated sectors, in particular energy (including renewables and emissions trading issues), defence, infrastructure, utilities, telecommunications, real estate, healthcare and education.
Our specialists are involved in major innovative and complex transactions, advising corporates, commercial banks, public funded entities, local authorities and national governments. They have advised on a comprehensive range of PFI/PPPs, procurement tendering processes and public sector financings, in particular in the framework of economic stimulus plans. They also regularly assist clients in contentious administrative proceedings. In addition, our relationships with public bodies enable clients to benefit from direct access to public decision-makers. We regularly advise funded entities and governments on the feasibility and structuring of new regulations.
Our advice is integrated with that of our other practices, particularly finance, corporate and litigation, to act on strategic deals where public and administrative law is a key element. Our comprehensive expertise covers M&A deals, project finance, real estate transactions and IPOs in regulated sectors.
Recent public & administrative law transactions include advising:
- on all major high speed rail PPPs in France, including the Brittany-Loire Region, Contournement Nîmes-Montpellier and Tours-Bordeaux high speed lines (HSL BPL, CNM and SEA) (2011-2012)
2012 Project Finance Magazine's European High-Speed Rail Deal of the Year – Nimes-Montpelier
- on the PPP project for the design, financing, development, maintenance and operation of the French GSM-R network for Réseau Ferré de France (2010) on the opening of the share capital (2009-2010) and €2.7bn capital increase of La Poste, the French postal services operator (2011)
- on the monitoring of the adoption process of the New Electricity Bill (NOME Bill) and on the on-going regulations related to the French electricity market (2010)
- Caisse des dépôts et consignations on the merger between Transdev and Veolia Transport in order to create a world leader in public transport (2009)
- in relation to the EU Directive 2003/87 establishing a greenhouse gas emission trading scheme in the context of the Kyoto Protocol, including proceedings before the Conseil d'État and the European Court of Justice (2007-2008)
- on the French PPP unit (MAPPP) for the implementation of the Government's €10 billion debt guarantee programme for PPP projects in the field of the Government’s stimulus plan for the economy (2009)
- a consortium led by Bilfinger Berger on the A1 motorway extension project in the state of Lower Saxony – the largest PPP project in Germany (2008)
- Suez in relation with privatisation aspects and energy regulations within the merger with Gaz de France, the largest statutory merger and privatisation ever in France (€96 billion current combined market capitalisation, 2005-2008)
- the underwriters on the privatisation and €1.4 billion IPO of Aéroports de Paris for which Linklaters was granted a Jane’s Transport Finance Award (2006)
- the consortium led by Espírito Santo Saúde on the preparation and drafting for the €800 million PPP bid of the Braga hospital in Portugal as part of the international public tender (2006)
- the Gavi Fund in relation with its project of securitisation of donor pledges from various governments within the International Finance Facility for Immunisation for which Linklaters won the “Legal Business” magazine’s award for Banking and Finance Team of the Year (2006)
- Advising Cobre Las Cruces SA in relation to the EUR 500m credit agreement and security package (project finance) for the biggest mining project in Spain (2005)