Deal Watch 8/1/11


Posted on August 1, 2011 at 4:08 PM

Slaughter and May is advising United Energy Group Ltd in a $640million acquisition finance facility with China Development Bank Hong Kong Branch as lender. The facility forms the main part of the funding to finance the group's acquisition of most of BP's upstream oil and gas businesses in Pakistan. Benita Yu and Peter Lake, partners, led the deal. Baker & McKenzie acted for Canada Pension Plan Investment Board in their acquisition of 50% of the shares in Hong Kong Interlink from Goodman Group, who are fund managers. The gorss purchase price of Canada Pension Plan Investment Board's interest is $300million. Canada Pension Plan will be assuming debt of around $84million, while making an equity commitment of $216million in order to get the 50% interest. Cheung Yuk Tong and Dorothea Koo, partners, led the deal.

Latham & Watkins represented China Shanshui Cement Group Ltd in their offering of CNY 1.5billion 6.5% senior notes due 2014. BOC International, Credit Suisse, Deutsche Bank and UBS acted as joint lead managers and joint bookrunners of this offering.The senior notes are listed on the SGX-ST. Eugene Lee, partner, led the deal.

Shearman & Sterling is representing Simcere Pharmaceutical Group in the establishment of a strategic of a strategic partnership with Merck & Co Inc. The partnership includes an equity joint venture that will be owned 51% by an affiliate of Merck and 49% by Simcere or one of it affiliates. Ling Huang, partner, led the deal.

Allen & Gledhill advised Temasek Holdings Ltd in their deal with Khazanah Nasional Berhad in the launching of M+S Lte Ltd and Pulau Indah Ventures Sdn Bhd, both joint ventures. Khazanah will own 60% of M+S; Temasek, 40%. M+S will take on developments involving land parcels in Marina South and Ophir-Rochor in Singapore, the projects are worth around $9billion. Pulau will be owned evenly between Khazanah and Temasek, and it will develop projects valued around $1billion in Iskandar Malaysia in Johor. Lucien Wong, Partner, led the deal.

Allen & Gledhill is also advising Arisaig Partners in Nestle SA's proposal to get 60% interest in Hsu Fu Chi International. The proposed acquisition of 43.52% stake will be through a scheme of arrangement while the 16.48% interest will be from individual shareholders. The deal is valued at $1.25billion. Prawiro Widjaja and Song Su-Min, both partners, led the deal.

Allens Arthur Robinson is advising Zijin Mining Group Co Ltd in their $30.5million investment in Norton Gold Fields, listed on the ASX. The deal will have the private placement od 138.35 million shares at $0.22 per share. Zijin, China's largest gold producer, will acquire a 1% stake in Norton. The deal, announced July 26th, was led by Parner Campbell Davidson.

Colin Ng & Partners advised 800 Super Holdings in their IPO on Catalist this year. 800 Super Holdings will be offering 32.2 million placement shares at $0.18. They expect to raise $4.4million from the placement which will be used to expand the company. Ong Wei Jin, Partner, led the deal.

Orrick, Herrington & Sutcliffe advised Intime Department Store Company in the offering of RMB1 billion 4.65% guaranteed bonds due 2014 listed on the HKSE with a Regulation S placement to global investors. The proceeds of the deal will be used to fund future expansion, payments of debt, among other puposes. Michelle Taylor and Edwin Luk, both partners, led the deal.

Llinks acted as PRC counsel for Macquarie as the sponsor in the HKSE listing of Shunfeng Photovoltaic International on July 13th. Shunfeng Photovoltaic, based in China, is focusing on the development of mono-crystalline solar cells and is planning to expand into multi-crystalline solar cells and silicon wafers in 2011.

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