Posted on April 27, 2010 at 5:04 PM
Baker & McKenzie is acting as Hong Kong counsel for ARA Asset Management (Fortune) Limited, as manager of Fortune Real Estate Investment Trust, and HSBC Institutional Trust Services (Singapore) Limited , as manager and trustee, in connection with the listing of Fortune REIT's units on the Main Board of Hong Kong Stock Exchange by way of introduction. This is the first REIT to be dual-listed on both the Hong Kong and Singapore Stock Exchanges. The joint listing agents are DBS Asia Capital Limited and JP Morgan Securities (Asia Pacific) Limited. The firm's advisory team was led by corporate partner Milton Cheng. Mayer Brown JSM has assisted ION Geophysical Corporation in respect of its formation of a joint venture with BGP Inc, a subsidiary of state-owned China National Petroleum Corporation, and also its sale of common stock to BGP, equivalent to 16.7% of ION's total amount of common stock. The value of the transactions combined was greater than US$400 million. The joint venture, which will be called INOVA Geophysical Equipment Ltd, will manufacture, sell and develop land seismic equipment and offer technology used in global oil and gas exploration. ION partially used the proceeds to pay off and refinance its debts. Martin Robertson in Hong Kong and Ian Lewis in Beijing led the firm's advisory team.
Paul, Hastings, Janofsky & Walker has advised Morgan Stanley in respect of two Hong Kong share placements. Both transactions were led by Hong Kong capital markets partner Sammy Li.
Allen & Gledhill LLP has represented SingTel Group Treasury Pte Ltd in respect of its offering of S$600 million in 3.4875 percent guaranteed notes due 2020. The notes are unconditionally and irrevocably guaranteed by Singapore Telecommunications Limited and are listed on the Singapore Exchange Securities Trading Limited. DBS Bank Ltd, The Hongkong and Shanghai Banking Corporation Limited and Oversea-Chinese Banking Corporation Limited acted as the joint lead managers for the issue. DBS Trustee Limited was the trustee whilst DBS Bank Ltd was also the paying agent and the registrar.
Ashurst has advised Dr. Shahzad Nasim and Meinhardt Group International Limited, a new company established by Dr. Nasim, in respect of the leveraged management buy-out of Meinhardt Group, a leading engineering, planning and management consultancy firm. The firm advised the borrower, Meinhardt Group, in connection with a credit facility from ANZ, Qatar National Bank and Orix, and acted for Dr Nasim in connection with equity aspects of the transaction. The firm's advisory team included international finance partners Carl Dunton and Matthew Bubb, Singapore corporate partner Susan Roy, and Hong Kong corporate partner Lina Lee.
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