Latest Deals from Law Firms and Legal Services Providers: 13th August 2025

AZB & Partners has advised Kwangsung Corporation on its Rs110 million (US$1.26m) acquisition of more than five percent stake in Kwangsung Sandhar Technologies and its subsidiary Kwangsung Sandhar Automotive Systems from Sandhar Technologies. Partners Alka Nalavadi and Kunal Kumbhat led the firm’s team in the transaction, which was completed on June 24, 2025.

AZB & Partners has also advised Nissan Motor on its Rs29.7 billion (US$340m) sale of stake in Renault Nissan Automotive India to Renault SA. Partners Rajendra Barot, Nilanjana Singh and Devika Nayak led the firm’s team in the transaction, which was completed on July 31, 2025.

Moreover, AZB & Partners is advising Schneider Electric SE on its Rs52.8 billion (US$604m) acquisition of 35 percent stake in Schneider Electric India from Temasek Holdings. Partners Ashwath Rau and Jasmin Karkhanis are leading the firm’s team in the transaction, which was signed on July 29, 2025 and is yet to be completed.

Baker McKenzie has advised China International Capital Corporation Hong Kong Securities, as the financial adviser to the offeror, a subsidiary of PAG, on the privatization via merger by absorption of Hong Kong-listed Shandong Fengxiang, a white-feathered broiler meat exporter and retail enterprise for chicken meat food in China. Shandong Fengxiang’s shares were delisted in Hong Kong on July 31, 2025. Partner and Asia Pacific Capital Markets co-head Christina Lee, supported by FenXun partner Yolanda Zheng, led the firm’s team in the transaction. Premier Chinese law firm FenXun established a joint operation office with Baker McKenzie in China under the name Baker McKenzie FenXun in 2015.

JSA is advising Steel Infra Solutions on its proposed IPO of equity shares comprising of a fresh issue aggregating to Rs960 million (US$11m) and an offer for sale of up to 14.24 million equity shares by certain selling shareholders. The company filed its Draft Red Herring Prospectus (DRHP) with the SEBI on July 29, 2025. Partner Arka Mookerjee, supported by partner Siddhartha Desai, led the firm’s team in the transaction.

JSA has also advised Equirus Capital and DAM Capital Advisors, as the book-running lead managers, on M & B Engineering’s IPO of equity shares, valued at up to Rs6.5 billion (US$74m). The IPO comprised a fresh issue of up to Rs2.75 billion (US$31m) and an offer for sale of up to Rs3.75 billion (US$43m) by certain selling shareholders. Partner Arka Mookerjee, supported by partner Siddhartha Desai, also led the firm’s team in the transaction.

Moreover, JSA has acted as Indian counsel to New Development Bank (NDB) on a US$125 million secured external commercial borrowing facility it extended to Shriram Finance, a public limited listed company engaged in financing of commercial vehicles and two wheelers. Shriram Finance will utilize the proceeds from the facility for on-lending for financing acquisition of sustainable commercial vehicles by its customers. Partners Soumitra Majumdar and Tirthankar Datta, supported by partner Abhishek Ray, led the firm’s team in the transaction.

Latham & Watkins has advised Evolution Data Centres, a leading sustainable data centre platform in Southeast Asia, on a strategic investment by Zero Two, a digital infrastructure investment platform headquartered in Abu Dhabi. Under the terms of the transaction, Zero Two will assume a co-controlling position alongside Warburg Pincus, establishing a strong institutional partnership to support Evolution’s continued growth. The investment will provide Evolution Data Centres with long-term growth capital aimed at accelerating the deployment of hyperscale-ready data centres across key Southeast Asian markets. Hong Kong corporate partner Richard Watkins, supported by Singapore partner James Clayton-Payne, led the firm’s team in the transaction.

Maples has acted as Cayman Islands counsel to Navis Capital Partners, a leading private equity firm in South East Asia, on the launch of its newly structured Navis Next Generation Fund with US$230 million in capital commitments. The fund, which was oversubscribed, was led by TPG NewQuest, with participation from a broad syndicate of global investors. Founded in 1998, Navis manages over US$5 billion in private equity and private credit capital, and focuses on investments primarily in Asia. Singapore funds and investment management partner Iain Anderson led the firm’s team in the transaction.

Maples has also advised Citigroup First Investment Management on the launch last May 2, 2025 of the US Market Strategy Fund, which is authorised for public offering in Japan. The fund enables Japanese investors to gain access to a portfolio which provides exposure to systematic strategies aimed to capitalise on market pattern dynamics in the US bond and interest rate markets, as well as fixed income instruments, providing a diversified investment avenue. Funds and investment management partner Nick Harrold led the firm’s team in the transaction.

Moreover, Maples has also acted as Cayman Islands counsel to UBS Management (Cayman) on the launch last April 30, 2025 of the KKR Private Markets Equity Fund, which is structured as a Cayman Islands unit trust and is authorised for public offering in Japan. The fund’s investment objective is to generate attractive risk-adjusted returns with lower volatility relative to public markets, and achieve medium-to-long-term capital appreciation through investments in global private markets. The fund provides investors with the ability to participate in all current and future KKR-managed private equity strategies. These strategies include traditional private equity, middle market, growth equity, core investments and global impact. The objective is to create a dynamically managed portfolio that is diversified by sector, industry, geography and vintage. Funds and investment management partner Nick Harrold also led the firm’s team in the transaction. Japanese legal advice was provided by Anderson Mori & Tomotsune.

Paul Hastings (Hong Kong) has advised Shenzhen-listed ZTE Corporation, a world-leading provider of integrated telecommunications and information technology solutions, on the issuance of Rmb3.584 billion (US$498m) in US dollar-settled zero-coupon convertible bonds due 2030. The bonds are listed in Hong Kong. ZTE intends to use the net proceeds of this offering to enhance its R&D investments in “computility” (computing and utility network) products. Founding partner and Greater China chair Raymond Li led the firm’s team in the transaction.

Paul Hastings has also represented special purpose acquisition company Chenghe Acquisition II on the negotiation and execution of a business combination agreement with Polibeli Group, a B2B e-commerce platform headquartered in Indonesia. The newly combined company will be listed on the Nasdaq. Polibeli is a leading digital supply chain services and distribution sales provider with global business operations, offering end-to-end solutions, including products procurement, channel distribution, logistics services, brand operations and digital marketing services, to both upstream and downstream business partners. Partners Steve Camahort, Will Burns, Sean Monroe and Chris Centrich and founding partner and Greater China chair Raymond Li, supported by partners Fang Pei and Steven Hsu, led the firm’s team in the transaction.

Saraf and Partners has advised Motilal Oswal Investment Advisors, IIFL Capital Services and JM Financial, as the book-running lead managers, on the IPO by GNG Electronics of equity shares aggregating to approximately Rs4.6 billion (US$52.5m). Operating under the brand “Electronics Bazaar”, GNG is India’s largegnst refurbisher of laptops and desktops, and among the largest refurbishers of information and communication technology devices overall, both globally and in India. GNG has a significant presence across India, the USA, Europe, Africa and the UAE, with presence across the full refurbishment value chain, from sourcing to refurbishment to sales, to after-sale services and providing warranty. Partner Mathew Thomas led the firm’s team in the transaction. Crawford Bayley & Co advised the selling shareholders.

Shardul Amarchand Mangaldas & Co has advised Performance Chemiserve, a wholly-owned subsidiary of Deepak Fertilisers and Petrochemicals, on its long-term agreement with Petronet LNG for the regasification of Liquefied Natural Gas. The contract, valued at Rs12 billion (US$137m) with a potential additional outlay of up to 20 percent over its five-year duration, will see Petronet LNG regasify approximately 25 TBTUs of LNG annually, primarily at its Dahej terminal, after an initial ramp-up period. Partner Prashant Sirohi led the firm’s team in the transaction.

Shardul Amarchand Mangaldas & Co has also acted as Indian counsel to IndianOil Corporation (IOC) on its long-term sale and purchase arrangement with ADNOC Group for the supply of liquefied natural gas. The LNG supply will originate from ADNOC’s lower-carbon Ruwais LNG Project, supporting both India’s energy security and the broader energy transition agenda. This agreement also bolsters ADNOC’s strategic foothold in India’s rapidly expanding energy market. By 2029, IndianOil is projected to become ADNOC’s largest LNG customer, with a combined offtake of 2.2 MMTPA, comprising of 1.2 MMTPA from Das Island and 1 MMTPA from the Ruwais project. Partner Prashant Sirohi led the firm’s team in the transaction. A&O Sherman advised the Abu Dhabi Gas Liquefaction Company.

Moreover, Shardul Amarchand Mangaldas & Co has advised Mindspace Business Parks REIT on the acquisition of Q-City, an IT Park based in Hyderabad, Telangana, through the acquisition of 100 percent shareholding of Mack Soft Tech, an Indian subsidiary of the Ireland-based Quinn Group. This acquisition is the first third party acquisition by Mindspace Business Parks REIT outside its Portfolio Parks. Partners Nikhil Naredi, Abhishek Parekh, supported by partners Natalee Nanda, Bhoumick Vaidya, Rohit Tiwari and Rohan Arora, led the firm’s team in the transaction. Arthur Cox advised on the Irish law aspects of the transaction.

S&R Associates has represented Iron Mountain, a multinational storage and information management services provider, on the Indian legal and tax aspects of the acquisition of 100 percent of the share capital of Capital Record Centre, a digitization services and records management company in India. Partners Sumit Bansal and Sudip Mahapatra, supported by partners Lakshmi Pardeep and Avikshit Moral, led the firm’s team in the transaction.

Trilegal has advised ICICI Securities and IIFL Capital Services (formerly known as IIFL Securities), as the book-running lead managers, on Aditya Infotech’s IPO. Aditya Infotech offers a comprehensive range of advanced video security and surveillance products, technologies and solutions for enterprise and consumer segments under its ‘CP PLUS’ brand. Partners Bhakta Patnaik and Brajendu Bhaskar led the firm’s team in the transaction.

Trilegal has also advised Värde Partners on completing its exit from its investment exposure to RattanIndia Power through the sale of security receipts to RattanIndia Finance. Värde Partners was a part of the consortium of investors in 2019, which had implemented restructuring and one-time settlement (OTS) of the entire outstanding debt exposure of RattanIndia Power through Aditya Birla ARC. The original transaction for the debt resolution of RattanIndia was the largest OTS transaction in India, and the first OTS transaction of its kind involving international credit funds, such as Goldman Sachs and Värde Partners. It was also the first successful scheme to have been closed under the RBI’s Prudential Framework for Resolution of Stressed Assets issued in June 2019. The firm has advised Värde Partners on the entire lifecycle of the deal, involving phased exit from its investment exposure, as well as the initial investment for funding ABARC though non-convertible debentures, which covered structuring of the original investment, drafting and negotiations of the transaction documents, deal execution and closing assistance. Partners Yogesh Singh, Ankush Goyal and Aniruddha Sen led the firm’s team in the transaction.