Posted on April 5, 2012 at 8:04 PM
Thomson Reuters acquires LawnB On March 30th, 2012, Thomson Reuters announced its acquisition of LawnB, a South Korean online legal information and education provider. Demand for legal information and training for newly qualified legal professionals has spiked after recent government reforms, a new legal education system, and South Korea’s free trade agreements with the U.S. and Europe. LawnB offers online legal information on cases, legislation, commentary, papers, and forms, as well as on and offline legal courses. This marks Thomson Reuters’ expansion into South Korea.
Minsheng Issuance of H-Shares Advised by Clifford Chance and Grandall, Minsheng, China’s largest non-state owned bank, issued 1.65 billion H-shares in Hong Kong and raised $1.44 billion. Partner Tim Wang of Clifford Chance’s Beijing office led the team for this transaction, and partner Zhang Lixin from Grandall advised on it as well. Freshfields partners Calvin Lai and Richard Wang advised the leading placing agents for this transaction, UBS and Haitong Securities.
CDB’s Public Takeover of New Capital International This past week Freshfields advised China Development Bank Capital Corporation’s public takeover of New Capital International valued at HK$768 million. A Freshfields team led by Richard Weng advised on this transaction. When this deal is completed CDB Capital will have an equity stake of approximately 66% in New Capital. King & Wood Mallesons was the PRC counsel for CDB Capital and Jun He represented New Capital. CDB Capital plans to use New Capital as an overseas investment platform, being the only investment sector of CDB.
Launch of Jetstar Hong Kong Australian airline Qantas and China Eastern Airlines have entered into a joint venture to establish Jetstar Hong Kong as a Hong Kong based low cost carrier. A team from Ashurst Australia led by corporate partner Robert Ogilvy Watson advised Qantas group. Partner Jackie Lo and Commerce & Finance partner Chen Wei from Baker & McKenzie advised China Eastern Airlines on this joint venture. Jetstar plans to administer services in 2013 with 3 Airbus A320’s, and expand to 18 A320’s by 2015.
Far East Horizon’s $371m Share Placement in HK Far East Horizon, the financial leasing unit of Sinochem Corp, made a $371 million share placement in Hong Kong this past week. Advising Far East Horizon was a team from Paul Hastings led by partners Raymond Li and Chris Betts. The sole placing agent UBS, was advised by Freshfields.
Broad & Bright Joins MSI Global Alliance Broad & Bright, a Chinese law firm based in Beijing and Shanghai has joined MSI Global Alliance, an international association of 250 independent accounting and law firms. Broad & Bright’s decision to join MSI Global was fueled by their desire to offer their clients access to a global network of lawyers and accountants in major global commercial center at affordable prices. Considering that a majority of the firm’s clients are foreign companies and a majority of their work is of a cross border nature this alliance is a sure way to attract quality international clientele.
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