Deal Watch 6/8/12

Posted on June 8, 2012 at 8:06 PM

       Baker advises GIB Deal

Baker & McKenzie advised Gulf International Bank on the creation of a 3.5 billion Malaysian ringgit ($1.1 billion) Islamic medium term note program for the sale of Islamic bonds. The program will allow Gulf International to tap into the Islamic Capital market. The Baker & McKenzie team was led by partner Azizul Adnan from their Malaysia office, and associate Umera Ali from their Bahrain office.

      Herbert Smith Advises UK Gas Producer on Sale of Power Plant

Herbert Smith advised BG Group on its sale of 40% of its stake in two power plants in the Philippines to First Gen Corp for $360 million. BG Group wants to free up the cash to invest in gas and oil production in Brazil and Australia. Lewis McDonald and Philip Morgan led the Herbert Smith team. Paul Hastings advised First Gen with a team led by Patricia Tan Openshaw.

       Baker & McKenzie Advises State Grid Corp of China on Energy Deal

Baker & McKenzie acted for China’s largest electric power provider SGCC on its acquisition of Actividas de Constuccion y Servicios assets in Brazil. The deal is worth over $1billion, and is the company’s fourth foreign investment project. Baker’s Boo Bee Chun acted as lead counsel to SGCC.

       Slaughter Acts on $10 Billion Dollar Deal

Slaughter and May acted for railway company MTR Corporation on its agreement with the Hong Kong government to construct a rail project that will comprise ten stations and six new interchanges. When finished, the project will create a north south link across the harbor between Hong Kong Island and the New Territories. Slaughter’s team was lead by corporate partner Jason Webber.

        Allens Advises Zijin Mining Group

Allens advised China’s largest gold miner Zijin Mining Group on a $210 million takeover offer for Australian gold producer Norton Gold Fields. Last year Zijin purchased a 17% share of the company worth $28 million. Allens partner Campbell Davidson led the transaction and Charltons acted as the Hong Kong lawyers for Zijin Mining Group. HopGoodGanim advised Norton Gold Fields.

       Vietnamese Bond Issuance

Vietnam Joint Stock Commercial Bank for Industry and Trade, Vietnam’s second-largest bank, has issued $250 million worth of notes that will be due by 2017. This is the first successfully completed international bond offering by a Vietnamese bank. Allen & Overy and Mayer Brown JSM advised the issuer. Barclays acted as the underwriter of this transaction and was advised by Milbank, Tweed, Hadley & McCloy and Vietnamese law firm YKVN Lawyers.

       Allen & Gledhill Advise Acquisition of KFC

Allen & Gledhill is advising Massive Equity Sdn Bhd, Melati Asia Holdings Ltd, Employees Provident Fund Board of Malaysia, and CVC Capital Partners Asia Pacific III on their $1.6 billion dollar acquisition of KFC Holdings, Bhd, and QSR Brands Bhd. Prawiro Widjaja, Chen Lee Won, Regina See, and Hoo Sheau Farn led the Allen team on this transaction.

       Shearman Advises on Pakistani Wind Power Project

Shearman & Sterling is advising financers, Asian Development Bank, Islamic Development Bank, and a group of private Pakistani financers on the financing of the Foundation Wind I and II Power projects in Pakistan. Fauji Foundation is the principal sponsor of the projects, being structured on a Shariah complaint basis. Partner Bill McCormack is leading the transaction.

       Shook Lin & Bok Advises Top Property Investment Pte Ltd

Shook Lin advised on Top Property Investment’s sale of its entire interests in Capitol Investment Holdings, Capitol Retail Management and Capitol Hotel Management to Chesham Properties and New Capitol for $55 million dollars. The deal is one of the largest Singapore based consortium invesments and divestments. Partner Gwendolyn Gn led the Shook Lin team on the deal.


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