Hogan Lovells weathers Covid-19 storm with 2.8 per cent revenue rise to $2.31bn
19 February 2021
Hogan Lovells weathers Covid-19 storm with 2.8 per cent revenue rise to $2.31bn
Cost savings help fuel 30.8% PEP increase also partly caused by change in partner compensation arrangements
Hogan Lovells office in Washington DC DCStockPhotography; Shutterstock Hogan Lovells grew revenue by 2.8% last year to $2.31bn against a 4% rise in revenue per lawyer (RPL), achieving what chief executive Miguel Zaldivar described as ‘steady financial growth’. While profit-per-equity partner (PEP) rose by 30.8% to $1.97m, a significant proportion of that rise was accounted for by a reporting change, although the firm said more than half was down to efficiencies and cost savings.
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Namibia Economist
An infrastructure investment fund managed by Old Mutual Investment Group Namibia has acquired a majority stake in Aloe Investments Number Twenty-Sevena, company that owns a 5MW solar photovoltaic plant in Rosh Pinah.
The acquisition forms part of a joint transaction with Sturdee Energy Namibia, which has acquired a minority stake in the plant. Sturdee Energy is an African Independent Power Producer with a track record of developing, owning and operating 587MW of renewable energy projects.
The shares were previously owned by AEE Power Ventures SL, a Spanish energy company, which developed and constructed the plant. AEE Power has disposed of its full shareholding in the plant to the Old Mutual-managed fund and Sturdee Energy Namibia.
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