Deal Watch 8/25/12

Posted on August 25, 2012 at 12:08 PM


August 23, 2012

Allen & Gledhill advises CapitaLand Ltd

Allen & Gledhill advised CapitalLand Ltd (CapitaLand) in a $5 billion Euro medium term note programme. This deal will be unconditionally guaranteed by CapitaLand. DBS Bank Ltd, The Hongkong and Shanghai Banking Corporation Ltd, JP Morgan (SEA) Ltd, Morgan Stanley Asia ( Singapore) Pte, Oversea-Chinese Banking Corporation Ltd, Standard Chartered Bank and United Overseas Bank Ltd have been appointed as the joint arrangers and dealers of the programme. Partners Tan Tze Gay and Glenn David Foo led the transaction.

The company also advised DBS Bank Ltd in a $1 billion fixed rate subordinated notes due 2023. The notes are important as they are expected to qualify as Lower Tier 2 capital of DBS and be eligible for Basel III transitional treatment. DBS was the sole lead manager whilst Crest Suisse (Singapore) Ltd and Morgan Stanley Asia (Singapore) Pte were co managers. Glenn David Foo led the transaction.

August 23, 2012

Allens advises Macquarie Capital

Allens acted for Macquarie Capital regarding the sale of its majority stake in mining services company CQMS Holding Pty Ltd to Quadrant Private Equity. Partner Cameron Price led the transaction.

August 23, 2012

AZB & Partners advises Standard Chartered Private Equity (Mauritius) II Ltd

AZB & Partners advised Standard Chartered Private Equity (Mauritius) II Ltd (SCPE) in a $15 million acquisition of equity shares. Partner Varoon Chandra led the deal.

The company also acted for JK Cement Ltd, JK Cement FZC and JK Cement Works FZC in regards to JK Cement Ltd’s guarantee obligations for securing a loan of US$ 98 million. Partner Yashwant Mathur led the transaction.

August 23, 2012

Clayton Utz advises Ironbridge Capital and Nippon Steel Corporation.

Clayton Utz advised private equity firm Ironbridge Capital (Ironbridge) in a sale of a majority interest in Super A-Mart to Quadrant Private Equity. The deal is important as it will see Quadant acquire a majority stake in a new entity for the common ownership of the two businesses. The remaining interest will be held by Ironbridge, Macquarie Group, Partners Group and management. Minter Ellison acted for Quadrant Private Equity.

The company also advised Japanese steel manufacturer Nippon Steel Corporation in a US$1.36 billion joint venture with Blue Scope Steel. The deal will establish a new coated products’ business, NC BlueScope Coated Products, in South-East Asia and North America. The new business will be based in Singapore. Partner Graham Taylor led the transaction.

August 23, 2012

Clifford Chance advises the joint lead managers

Clifford Chance acted for the joint lead managers regarding China Development Bank’s (CDB) RMB2.5 billon (US$390m) bond issuances comprised of RMB1 billion (US $157.2b) 4.3 percent bonds due 2032 and RMB1.5 billion (US$235.8B) 2.95 percent bonds due 2015. This transaction is important as it is the longer tenor thus far for a dim sum bond. It also sets a new 20 year benchmark for the market. Partner Connie Heng led the transaction.

August 23, 2012

David Polk advises Barclays Bank PLC, Citigroup Global Markets Inc, KDB Asia Ltd, Standard Chartered Bank and USB AG Hong Kong Branch

David Polk advised Barclays Bank PLC, Citigroup Global Markets Inc, KDB Asia Ltd, Standard Chartered Bank and USB AG Hong Kong Branch regarding a Schedule B debt offering by the Korea Development Bank of US$500 million in aggregate principal amount of its 3.5 percent notes due 2017. Partners Eugene C Gregor, William F Barron, and John D. Patton led the deal. Cleary Gottlieb Steen & Hamilton as to US law and Lee & Ko as to Korean Law acted for the Korea Development Bank.

August 23, 2012

David Polk also acts for Ayala Corporation and Ayala Land Inc

David Polk advised Ayala Corporation and Ayala Land Inc on a Rule 144 A/ Regulation S offered by Ayala Corporation of 680 million common shares of Ayala Land Inc for gross proceeds of approximately US$323 million. Partner William F Barron led the transaction.

August 23, 2012

Fangda acts for hiSoft Technoogy International Ltd

Fangda acted for hiSoft Technology International Ltd (hiSoft) in a proposed merger agreement with VanceInfo Technologies Inc (VanceInfo). The agreement will be tax-free, all-stock merger of equals with a combined equity value of approximately US$875 million. Jeffrey Ding, Chen Ma and Lily Yin led the transaction.

August 23, 2012

Fried, Frank, Harris, Shriver & Jacobson represents Lazard

Fried, Frank, Harris, Shriver & Jacobson acted for Lazard as financial advisor to a buyer group regarding its agreement to acquire Yucheng Techonologies Ltd for US$3.90 per share in cash. Partner Douglas Freeman led the transaction.

The company also advised a private equity consortium that includes a FountainVest Partners affiliate and LJ International Inc (LJI) Chairman of the Board of Directors, President and CEO Yu Chuan Yih, on a proposal to acquire LJI. Partners Douglas Freeman, Victor Chen and Carolyn Sng led the deal.

August 23, 2012

Herbert Smith Advises Standard Chartered Bank as well as China National Offshore Oil Corporation

Herbert Smith acted for Standard Chartered Bank as the arranger and dealer regarding the establishment of a S$750 million (US$598.5m) euro medium term note programme by LMIRT Capital Pte Ltd. Partner Philip Lee led the transaction.

The company also advised China National Offshore Oil Corporation (CNOOC) on an acquisition of a 25 percent participating interest of Shell’s offshore exploration blocks BC9 and BCD10 in Gabon, Africa. Partners, Hilary Lau and Bertrand Montembault led the deal.

August 23, 2012

J Sagar Associates advises Standard Chartered Private Equity II Ltd and Standard Chartered Private Equity III Ltd

J Sagar Associates advised Standard Chartered Private Equity II Ltd, and Standard Chartered Private Equity III Ltd on the induction of Panasonic Corporation as a strategic investor in Firepro Systems Private Ltd. Partner Sidharrth Shankar led the transaction.

August 23, 2012

Jones Day Represents Tokyo Electron Ltd

Jones Day acted for Tokyo Electron Ltd (TEL ) for its agreement with FSI International Inc (FSI). TEL, under the agreement, will acquire FSI for US$6.20 per share in cash, or an aggregate equity purchase price of approximately US$252.5 million. Faegre Baker Daniels led the deal.

August 23, 2012

Mayer Brown JSM advises Swire Resources Ltd

Mayer Brown JSM acted for Swire Resource Ltd regarding the formation of a retail joint venture in China with Columbia Sportswear Co. The deal represents a culmination of a long-standing relationship between Swire Resources Ltd and Columbia Sportswear Co. It is important as it is aimed at expanding the brands’ reach into mainland China. Partner Martin Robertson led the deal.

August 23, 2012

Shin & Kim represents IMM Private Equity

Shin & Kim represented IMM Private Equity, Korean private equity fund regarding the acquisition of a 24 percent stake in Kyobo Life Insurance from Daewoo International. Partners Tong-Gun Lee, Tae- Young Seo and Myong Hyon Ryu led the transaction.

August 23, 2012

Slaughter and May advises Wing Tai Properties Ltd as well as John Swire & Sons (HK) Ltd

Slaughter and May based in Hong Kong advised Wing Tai Properties Ltd in regards to the sale of its 79.26 percent interest in its HKSE-listed subsidiary, Winsor Properties Holdings Ltd, to Vanke Group . Partner Neil Hyman led the deal.

The company also advised John Swire & Sons (HK) Ltd on the sale of its shareholding in HKSE-listed Swire properties Ltd. The sale amounts to approximately HK$5.04 billion. Partners Richard Thornhill and Lisa Chung led the deal.

August 23, 2012

Stamford Law Corporation acts for Fraser and Neave Ltd

Stamford Law Corporation represented Fraser and Neave Ltd (F&N) as lead transaction counsel regarding a proposed S$5.59 billion (US$4.5b) sale in Asia Pacific Breweries Ltd (APB) to Heineken international BV. Partner Lean Min-tze led the deal.

August 23,2012

Sullivan & Cromwell represents investors

Sullivan & Cromwell represented a consortium of investors that included the Carlyle Group LP, CITIC Capital Partners Ltd, CDH Investments, China Everbright Ltd, FountainVest Partners Ltd and Jason Nanchun Jiang, regarding the proposed US$3.5 billion Focus Media Holding Ltd. Partners William Chua and Michael DeSombre led the transaction.

The company also represented Goldman Schs & Co and Rothschild Inc as financial advisers to Comverse Technology Inc (CTI) regarding the acquisition by Verint System Inc. Partner Stephen Kotran led the transaction.

August 23, 2012

Troutman Sanders acts for Sound Global Ltd

Troutman Sanders acted for HKSE and SGX, listed Sound Global Ltd that develops and manages waste management and reatment facilities throughout the PRC, regarding a US$150 million high yield bond issuer. Partner Joe Sevack led the deal.

August 23, 2012

Wong Partnership acts for Singapore GP Pte Ltd and Jones Lang LaSalle

Wong Partnership acted for Singapore GP Pte Ltd regarding the negotiations with Formula One World Championship Ltd on the terms for the rights to host the F1 Singapore grand Prix for a second 5-year term. Mark Choy and Milton Toon led the deal.

The company also acted for Jones Lang LaSalle in respect of its acquisition of Credo Real Estate. Tay Liam Kheng led the transaction.

 

 

 


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