Latest Deals from Law Firms and Legal Services Providers: 30th July 2025

Allen & Gledhill has advised United Overseas Bank, Oversea-Chinese Banking Corporation and Bank of China Singapore Branch, on the S$619.3 million (US$480m) green loan facilities to a special purpose vehicle owned by GuocoLand. Raised under GuocoLand’s Green Finance Framework, the facilities will be used to develop a 99-year leasehold land parcel at River Valley Green (Parcel B) into a high-end waterfront development featuring around 455 residential units across two towers, along with commercial shops on the first storey. When completed, the development at River Valley Green is expected to achieve the Building and Construction Authority’s Green Mark Platinum (Super Low Energy) certification with Maintainability Badge. Partner Aloysius Ng led the firm’s team in the transaction.

Allen & Gledhill has also advised Mapletree Investments and Mapletree Treasury Services on the issue of S$400 million (US$310m) 3.048 percent notes due 2040, under their US$5 billion euro medium term note programme. Partner Glenn David Foo led the firm’s team in the transaction.

AZB & Partners has advised RTX on the Rs155 billion (US$1.8b) acquisition by Safran and Safran Electronics & Defense Services India of Collins Aerospace’s Actuation and flight control businesses, including acquisition by Safran India of Collins India. Partner Divya Mundra led the firm’s team in the transaction, which was completed on July 21, 2025.

AZB & Partners is also advising Micro Life Sciences on the Rs17 billion (US$196m) sale of stake in Micro Life Sciences by Bilakhia Holdings to Abu Dhabi Investment Authority. Partners Vaidhyanadhan Iyer and Jeet Chaudhuri are leading the firm’s team in the transaction, which was signed on July 19, 2025 and is yet to be completed.

Moreover, AZB & Partners has advised MMGY Global on its acquisition of Think Strawberries Luxury Travel Marketing. Partner Vaidhyanadhan Iyer led the firm’s team in the transaction, which was completed on June 28, 2025.

A&O Shearman has advised Coda Payments, a Singapore-headquartered global leader in digital content monetization, on its proposed acquisition of CG Holding (Recharge), Europe’s largest prepaid payments platform. The transaction brings together two regional leaders with complementary strengths, significantly expanding Coda’s footprint in Europe, and accelerating its growth across the broader digital content economy. The acquisition expands Coda’s footprint beyond gaming into the broader digital content economy, enhancing its direct-to-consumer capabilities, and establishing a strong presence in Europe. Based on 2024 figures, the combined business will have processed over US$1.75 billion in sales, served more than 200 million customers, and operated across more than 180 markets. Partners Tom Jokelson (Singapore) and Justin Steer (Amsterdam), supported by partner Matthew Del Rosso, led the firm’s cross-border, multidisciplinary team in the transaction.

A&O Shearman has also acted as US counsel to Kotak Mahindra Capital, SBI Capital Markets, ICICI Securities, Morgan Stanley, HSBC Securities and Capital Markets and Citigroup, as the book-running lead managers, on the largest qualified institutions placement from India by the State Bank of India (SBI). SBI raised Rs250 billion (US$2.9b) pursuant to the QIP. The proceeds will augment SBI’s Common Equity Tier-I capital base. SBI, India’s largest bank, operates 22,937 branches in India and 244 international offices in 29 countries. The Government of India holds a majority stake in SBI. Its shares are listed in the Indian stock exchanges, with global depository receipts listed in London. Through its subsidiaries and joint ventures, SBI operates across a wide spectrum of the Indian financial sector, including asset management, investment banking, factoring and commercial services, treasury operations, credit cards, payment services, life insurance and general insurance. International capital markets partner and India group co-head Pallavi Gopinath Aney, supported by partner Mark Leemen, led the firm’s team in the transaction, which marks SBI’s largest equity issuance.

Baker McKenzie has advised Hong Kong-listed Dmall on the placing of existing shares and top-up subscription of new shares, raising approximately HK$388 million (US$49m). The net proceeds will be used for the company’s R&D investment in stablecoins and blockchain, technology advancement and for general corporate purposes. China International Capital Corporation Hong Kong Securities and Guotai Junan Securities (Hong Kong) acted as the overall coordinators and managers for the transaction. Partner and Asia Pacific capital markets co-chair Practice Christina Lee led the firm’s team in the transaction.

Christopher & Lee Ong, member firm of Rajah & Tann Asia, has advised Alliance Bank Malaysia on its recently completed rights issue exercise, which successfully raised gross proceeds of approximately RM600 million (US$142m), marking the first rights issue by a financial institution in Malaysia since 2015. The exercise was oversubscribed by 55.1 percent, with applications received for over 282 million shares, well exceeding the 182.12 million shares offered. The rights issue was supported by an undertaking from Temasek Holdings, which is a substantial shareholder of Alliance Bank Malaysia via its investment vehicle. RHB Investment Bank was the principal adviser and sole underwriter for the rights issue. Partners Adrian Chee and Justin Chua from the Capital Markets Practice led the firm’s team in the transaction.

Clifford Chance has advised Shin Kong Life Singapore on its successful issuance of US$400 million 6.95 percent Tier 2 Subordinated Dated Capital Bonds due 2035, guaranteed by its parent company, Taiwanese insurer Shin Kong Life Insurance. Partner David Tsai led the firm’s team in the transaction.

JSA has advised Kapur Family Trust on the IPO of Travel Food Services, a leading player in the fast-growing Indian airport travel quick service restaurant and lounge sectors. The IPO was undertaken through an offer for sale aggregating Rs20 billion (US$230m) by Kapur Family Trust, and was successfully listed on July 14, 2025. Partner Madhurima Mukherjee Saha, supported by partner Shivali Singh, led the firm’s team in the transaction.

JSA has also advised Allianz Group on the binding agreement entered between Allianz SE’s wholly-owned subsidiary Allianz Europe and Jio Financial Services to form a 50:50 domestic reinsurance joint venture in India, subject to receipt of statutory and regulatory approvals. Jio and Allianz Europe also entered a non-binding term sheet for setting up 50:50 joint ventures for general and life insurance businesses in India. Partners Venkatesh Raman Prasad and Ronak Ajmera, supported by partners Kumarmanglam Vijay, Manish Mishra, Shareen Gupta, Sidharth Sethi, Vaibhav Choukse and Ela Bali, led the firm’s team in the transaction.

Moreover, JSA has advised Purvanchal EAV-3 Smart Metering and Kanpur Jhansi Banda Smart Metering, subsidiaries of Gemstar Infra, on securing from Punjab National Bank facilities valued at approximately US$225.9 million. The financing will be utilized for the installation of advanced smart meters across the state of Uttar Pradesh, aiming to enhance energy efficiency and modernize power infrastructure. Partner Karan Mitroo, supported by partner Ankita Parasar, led the firm’s team in the transaction.

Maples has acted as BVI counsel to Shenwan Hongyuan International Finance on its issue of US$300 million floating rate guaranteed bonds due 2028, guaranteed by Shenwan Hongyuan Securities. Partner Lorraine Pao led the firm’s team in the transaction. Clifford Chance and JunHe advised the company and Shenwan Hongyuan Securities on English law and Chinese law, respectively. Linklaters and Commerce & Finance Law Officers advised the joint lead managers on English law and Chinese law, respectively.

Maples has also acted as Cayman and BVI counsel to Greentown China Holdings and its BVI subsidiaries on the issue and subsequent tap issue of US$500 million in aggregate 8.45 percent notes due 2028 by Greentown China Holdings, and concurrent offer to purchase of the company’s outstanding US$446.5 million 4.7 percent notes due 2025 and US$294.5 million 5.65 percent notes due 2025. Partner Lorraine Pao also led the firm’s team in the transaction, while White & Case advised on New York law and Hong Kong law, and T&C Law Firm advised on Chinese law. Clifford Chance and Jingtian & Gongcheng advised the joint global coordinators, joint lead managers and joint book-runners on New York law and Chinese law, respectively.

Moreover, Maples has acted as Cayman Islands counsel to HPHT Finance (25) on its issue of US$500 million notes due 2030. Guaranteed by Hutchison Port Holdings Trust and HPHT, the notes are listed in Singapore. Partner Derrick Kan led the firm’s team in the transaction. The issuer and guarantors were also represented by Linklaters as to English, Hong Kong and Singapore laws. The lead managers were represented by Clifford Chance as to English and Hong Kong laws.

Saraf and Partners has represented Fortis Healthcare on a strategic collaboration with Gleneagles Healthcare India for the provision of operation and maintenance services at five hospitals and one clinic of Gleneagles in India. The transaction is in furtherance of Fortis Healthcare’s strategic expansion of its geographical and operational footprint in the Indian healthcare sector. Gleneagles is a wholly-owned subsidiary company of IHH Healthcare. Senior partner Vaibhav Kakkar and partners Sahil Arora and Debarpan Ghosh, supported by partner Akshayy Nanda, led the firm’s team in the transaction. S&R Associates has acted for IHH Healthcare and Gleneagles in the transaction.

S&R Associates has represented Kotak Mahindra, SBI Capital Markets, ICICI Securities, Morgan Stanley, HSBC and Citigroup, as the book-running lead managers, on the Rs250 billion (US$2.9b) qualified institutions placement by the State Bank of India. Partners Sandip Bhagat and Jabarati Chandra led the firm’s team in the transaction, which is the largest QIP undertaken by an issuer in India.

S&R Associates has also represented global private equity firm Cerberus Capital Management on the Indian aspects of a growth investment in Aquatech International, a provider of water purification and process technology solutions. Partner Sudip Mahapatra, supported by partners Avikshit Moral, Ajinkya Gunjan Mishra and Sumit Bansal, led the firm’s team in the transaction.

Moreover, S&R Associates has represented world-leading integrated healthcare provider IHH Healthcare on the strategic collaboration between its Indian subsidiaries Fortis Healthcare and Gleneagles Healthcare India, pursuant to which Fortis will manage the operations of five hospitals in the Gleneagles India network under an operation and maintenance services agreement. Partners Rajat Sethi and Raya Hazarika, supported by competition head Simran Dhir and partners Akshat Kulshrestha and Niti Dixit, led the firm’s team in the transaction.

Trilegal has advised The Supreme Industries, India’s largest plastics processor and a leading manufacturer of plastic piping systems, on its acquisition of Wavin’s pipes and fittings business in India. Wavin is part of the global Orbia Group. The transaction is structured as a business transfer on a slump sale basis, and involves three business transfer agreements with Wavin Industries and its two subsidiaries, Wavin Holdings and Wavin India Pipes and Fittings Manufacturing. As part of the transaction, Supreme will also obtain exclusive access to Wavin’s advanced water management technologies in the SAARC region. Partner Kosha Thaker, supported by partners Kosha Thaker and Gauri Chhabra, led the firm’s team in the transaction.

Trilegal has also acted as the Indian counsel to Kotak Mahindra Capital, Citigroup Global Markets India, Goldman Sachs (India) Securities, IIFL Capital Services (formerly IIFL Securities) and Avendus Capital, as the book-running lead managers, on the proposed IPO of Amagi Media Labs. The proposed IPO comprises of a fresh issue of Rs10.2 billion (US$117m) and offer for sale by certain selling shareholders of the company. Amagi is a software-as-a-service (SaaS) company that connects media companies to their audiences through cloud-native technology. Its platform helps content providers and distributors upload and deliver video over the internet through smart televisions, smartphones and applications, instead of traditional cable or set-top box services. It also helps monetize such content through targeted advertising services for advertisers. Amagi’s platform integrates production, preparation, distribution and monetization workflows into a single window, allowing customers to reduce complexity, improve operating efficiencies and increase their content revenue. Partner Vijay Parthasarathi led th firm’s team in the transaction.

Moreover, Trilegal has advised Times Internet and Times Internet (UK) on the investment made by Sporta Technologies (Dream11) into Cricbuzz and Willow businesses, owned and controlled by Times Internet. Cricbuzz is one of the leading cricket scoring and content platforms in India with over 185 million monthly users. Willow is one of the leading broadcasting and live streaming platforms for cricket in the United States, Middle East and Southeast Asia. The transaction involves an equity investment by Dream11 through a combination of primary and secondary investments in the target entities, which hold the CricBuzz and Willow businesses. Partner Nikhil Sachdeva, supported by partners Kirti Balasubramanian, Apeksha Mattoo, Jyotsna Jayaram and Rudresh Singh led the firm’s team in the transaction.