Deal Watch - 3/1/10

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Posted on March 1, 2010 at 7:03 AM


Morgan Lewis-TMI has acted as international counsel on long time client Sumitomo Corporation’s tender offer to acquire shares of Jupiter Telecommunications to increase its holding to 40%, a position that would make Sumitomo JCOM’s largest stakeholder. Partners Lisa Yano, Kunio Namekata and Ippei Takushima led the advising team, while Mori, Hamada & Matsumoto acted as Japanese counsel for JCOM.

Davis Polk advised the mangers for the Government of the Socialist Republic of Vietnam’s US$1 billion notes offering, along with local Vietnamese counsel YKVN. Eugene Gregor, a partner at Davis Polk, commented: “It sets a sovereign benchmark for future financings by other Vietnamese issuers.” The managers on the transaction were Citigroup Global Markets, Deutsche bank Securities, BNP Paribas Securities, Calyon, Daiwa Capital Markets Singapore, and Nomura International. Lawyers from Davis Polk’s Tokyo, Hong Kong, and London offices were involved. Allen & Overy acted for the of the Socialist Republic of Vietnam.

Paul, Weiss, Rifkind, Wharton & Garrison has advised Indian financial services firm Religare on its acquisition of a 65% stake in Northgate Capital, valued at approximately US$200 million. This is part of Religare’s $1 billion plan to expand its global investment portfolio and is its first US deal. The deal will let Northgate’s five partners to keep a controlling interest in their venture capital and private equity units as well as mine asset opportunities in India and Asia. New York M&A partners Robert Goldbaum and Steven Williams led the firm’s team, while Shearman & Sterling acted for Northgate with New York M&A partner John Marzulli Jr. and asset management partners Nathan Greene and Don Lonczak leading the advising team.


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