Posted on June 30, 2009 at 6:06 PM
Herbert Smith also advised Dah Sing Bank on its placement and issuance of 54 million shares worth HK$302.4 million. The deal was led by Greater China managing partner Andrew Tortoishell.
Mayer Brown LLP and Mayer Brown JSM have worked together to advise Shui On Construction and Materials Limited on its takeover of property investment company China central Properties. The deal is worth approximately US$408.6 million. The London team was led by partner Andrew Sharples and the JSM team was led by Jacqueline Chiu.
Milbank, Tweed, Hadley & McCloy LLP represented thenardite producer Lumena Resources Corp in its IPO on the Hong Kong Stock Exchange. The offering is worth US$149 million. The team was led by Douglas Tanner from New York, and Anthony Root, managing partner in Beijing and Hong Kong.
Paul, Weiss, Rifkind, Wharton & Garrison represented Kohlberg Kravis Roberts & Co. LP, a global alternative asset manager, in its investments in Ma Anshan Modern Farming Co. Ltd, a dairy farming company headquarted in China. Advising on the investment were corporate partner Jack Lange and tax partner Jeffrey Samuels.
Cleary Gottlieb represented Deutsche Bank, HSBC, and Morgan Stanley in respect to a US$1 billion Rule 144A and Reg S offering by Power Sector Assets and Liabilities Management Company (PSALM). The team was led by Hong Kong partner Clay Johnson and Robert Williams of counsel.
Herbert Smith advised HeidelbergCement on the sale of its 14.1% stake in PT Indocement Tunggal Prakarsa, based in Indonesia. The sale was worth about US279.4 million and was done through a private placement run by The Royal Bank of Scotland.
Herbert Smith also advised Goldman Sachs on the sale of 1.25 billion shares of PT Adaro Energy, worth US$150 million.
Beijing-based Duoyuan Global Water, a water-treatment equipment supplier, has become the third Chinese company to list on the Nasdaq this year. Hogan & Hartson represented the company, it its listing, which raised US$88million. The offering reflects a continued interest by investors in leading Chinese companies.
Ping An Insurance Group will acquire a 16.7% stake on the shares of Shenzhen Development Bank, a transaction worth at leas US$3.2 billion. Ping An has appointed DLA Piper as its international legal advisor and Deheng Law Offices as its PRC legal advisor. Partner Mabel Lui and Consultant Brett Stewien are leading the team from DLA Piper and Liu Zhenguo and Deng Yun are leading the Deheng team.
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