Global: Deals of the year 2001: The landmark deals of 2001

Around the world, cash-strapped governments are following the UK in turning to public-private partnerships to fund projects. No-one disputes the vast commercial potential for what may yet emerge as a new asset class. But deals are often fiendishly complicated and can provoke public doubts. Getting to grips with contract details is vital.

A rash of European high-yield defaults has pointed up the skills of specialist law firms practised in pursuing the interests of bondholders.

Restructuring China’s state owned enterprises is an enormous, daunting task, with the disposal of assets of loss-making companies entrusted to four asset management companies of which China Huarong Asset Corporation is the biggest and the first to begin disposals. Huarong’s executive vice-president, Li Xiaopeng, discussed the process with Euromoney’s Chris Cockerill

While Italy’s conventional banks struggle to achieve scale and market share at home and abroad, Ennio Doris continues to steer his Mediolanum organization to greater prominence. Its asset-gathering strategy seems to have paid off. Keeping his sleeping partner, prime minister Silvio Berlusconi, on his side remains one of his biggest headaches.