Torys is well-known for its seamless cross-border services in a wide range of practice areas. We are frequently cited as Canada’s highest-profile cross-border firm for our advice to both Canadian and U.S. clients in major cross-border transactions and disputes.
We also have a considerable international focus. We are frequently engaged to advise on large, complex transactions involving countries beyond Canada and the United States. These transactions involve single or multiple foreign countries and legal systems.
Roles
With our deep experience with significant international transactions, we act as both
- lead deal counsel, providing overall coordination and management of all legal aspects of an international transaction
- strategic counsel, providing strategic advice and assisting local counsel in foreign jurisdictions who lead the transaction, including acting as a separate and independent counsel in consortium deals
Strengths
Our clients have told us that they particularly appreciate the various and distinct strengths that we bring to our international work:
- commitment to support our clients as they grow their businesses internationally
- ability to work closely with local counsel in foreign jurisdictions
- outstanding support of in-house internal legal departments
- cost-effectiveness and efficiency
Representative Experience
- Scotiabank in its proposed US$1 billion acquisition of significant stake in Banco Colpatria
- Northgate Minerals completes sale to AuRico Gold
- Scotiabank in its C$162 million acquisition of a stake in Xi’an City Commerical Bank
- Gerdau Ameristeel in its proposed acquisition by Gerdau SA
- China Investment Corporation in its C$1.7 billion acquisition of a 17% equity interest in Teck Resources
- Viterra (formerly Saskatchewan Wheat Pool) in its C$1.4 billion acquisition of all the issued and outstanding shares in ABB Grain, and in its related C$450 million offering of subscription receipts
– the deal won the Canadian Dealmakers' Global Expansion Award
- IPIC(Abu Dhabi-based state-owned International Petroleum Investment Corporation) in its US$2.3 billion acquisition (including debt) of Nova Chemicals and a related US$250 million term loan facility to Nova Chemicals
– Canada's first instance of a foreign sovereign wealth fund taking 100% ownership of a Canadian company
- Algoma Steel in its C$1.85 billion sale to Essar Global
- The Thomson Corporation in its US$18 billion acquisition of Reuters through a dual-listed company structure
- as lead deal counsel, Torys handled the Canadian and U.S. aspects of the transaction, and worked closely with local U.K. counsel on U.K. and European matters
- Hindalco Industries in its US$6 billion acquisition of NYSE and TSX-listed Novelis, and in US$4.8 billion of related financings
- as global lead counsel, Torys was responsible for the Canadian and U.S. aspects of the M&A and financing transactions, and we coordinated local counsel in Europe, Asia and South America
- Morgan Stanley Infrastructure and Ontario Teachers' Pension Plan Board in their US$1.3 billion acquisition of SAESA Group
- as lead international consortium counsel, Torys oversaw the local Chilean counsel in the due diligence and related financing transactions
- AV Minerals (subsidiary of Hindalco Industries) in its US$982 million global refinancing
- as lead borrower's counsel, we advised on the multicurrency term credit facility provided by a syndicate of international banks, opposite the banks' Hong Kong-based counsel, and coordinated the local counsel in India, the United Kingdom and the Netherlands
- Canada Pension Plan Investment Board in its €250 million joint investment with Multi Corporation in Multi Turkmall, a Turkish retail real estate development
- as lead international counsel, we managed the local Turkish and Dutch counsel
- Ontario Teachers' Pension Plan Board in its formation of and investment in a US$1.2 billion Brazilian oil and gas exploration company
- as lead international counsel, we managed the local Brazilian counsel in the formation of an oil and gas exploration company that successfully bid for concession rights relating to the exploration and development of Brazilian offshore petroleum resources