Latest Deals from Law Firms and Legal Services Providers: 3rd September 2025

Allen & Gledhill has advised DBS Bank, Oversea-Chinese Banking Corporation, Bank of China Singapore Branch and Industrial and Commercial Bank of China Singapore Branch on the S$830 million (US$645m) term, revolving and bank guarantee facilities to OUE Allianz Bayfront. The facilities are aligned with the Green Loan Principles, and will be used to refinance borrowings relating to OUE Bayfront. Partners Lim Wei Ting and Ernest Teo led the firm’s team in the transaction.

Allen & Gledhill has also advised Astrea 9 on the issue of S$615 million (US$477m) Class A-1 secured fixed rate bonds due 2040, US$200 million Class A-2 secured fixed rate bonds due 2040, and US$100 million Class B PIK secured fixed rate bonds due 2040. The bonds are the sixth issuance of retail bonds in Singapore backed by cash flows from private equity funds. Partners Yeo Wico, Jeanne Ong, Andrew Chan, Jo Tay and Lim Pek Bur led the firm’s team in the transaction.

Moreover, Allen & Gledhill has advised Emerald Technology Ventures on leading the S$8 million (US$6.2m) investment in SG Enviro, a Singapore-based industrial wastewater engineering firm. Partners Julian Ho, Alexander Yap and Lim Pek Bur led the firm’s team in the transaction, while AGI Legal, led by partners Aris Budi Prasetiyo and Elsie Frieska Hakim, advised on Indonesian law aspects.

AZB & Partners is advising Wipro on its Rs32 billion (US$363m) acquisition from Harman International Industries of Harman’s Digital Transformation Solutions (DTS) business unit. Partners Srinath Dasari, Bhuvana Veeraragavan, Bharat Budholia and Aditya Singh Chandel are leading the firm’s team in the transaction, which was signed on August 21, 2025 and is yet to be completed.

AZB & Partners is also advising CIRCOR Dutch Holdings on its acquisition of Swelore Engineering. Partners Roxanne Anderson and Devika Nayak are leading the firm’s team in the transaction, which was signed on August 22, 2025 and is yet to be completed.

Moreover, AZB & Partners has advised Turpaz Industries on its acquisition of a 45 percent stake in Aastrid Life Sciences. Partners Darshika Kothari, Kunal Kumbhat, Nishanth Ravindran and Nikunj Maheshwari led the firm’s team in the transaction, which was completed on June 28, 2025.

A&O Shearman has advised Industrial and Commercial Bank of China Singapore Branch (ICBC Singapore) on its recent issuance of Rmb3.5 billion (US$490m) and S$350 million (US$272m) carbon neutrality-themed green bonds, under ICBC’s US$20 billion Global Medium Term Note Programme. The notes are listed in Singapore. This dual-currency issuance commemorates the 35th anniversary of diplomatic relations between China and Singapore, and marks a significant step in the evolution of sustainable finance in Asia. Notably, the offering is the first bank-issued bond globally to receive a Multi-Jurisdiction Common Ground Taxonomy (M-CGT) assessment, as well as the first bond of its kind issued in the Singapore market, underscoring ICBC’s commitment to advancing cross-border green finance standards. The M-CGT was developed by the People’s Bank of China, the European Commission’s Directorate-General for Financial Stability, Financial Services and Capital Markets Union, and the Monetary Authority of Singapore. Proceeds from the issuance will be used to finance or refinance eligible green assets aligned with ICBC’s updated Green Bond Framework, supporting environmental protection and sustainable development. Partners Aloysius Tan and Agnes Tsang led the firm’s team in the transaction.

Baker McKenzie has advised MicroBit Capital Management, a premier Hong Kong-based investment manager specializing in virtual assets, on the successful listing of the MicroBit Bitcoin Spot ETF and the MicroBit Ether Spot ETF in Hong Kong on August 21, 2025. MicroBit is fully licensed by the Securities and Futures Commission of Hong Kong for Type 1 (Dealing in Securities), Type 4 (Advising on Securities), and Type 9 (Asset Management) regulated activities. Partner and financial services regulatory practice global chair Karen Man, supported by partner Sophia Man, led the firm’s team in the transaction.

Baker McKenzie has also advised China International Capital Corporation Hong Kong Securities, as the financial adviser to the offeror, Brilliant Bright Holdings, on the privatization of Beijing Properties (Holdings), via scheme of arrangement under Section 99 of the Companies Act 1981 of Bermuda. The shares of Beijing Properties were delisted in Hong Kong on August 29, 2025. Brilliant Bright Holdings is a subsidiary of Beijing Enterprises Group. Beijing Properties is principally engaged in real estate, including high-end and modern general warehouses, supply chain development, specialized wholesale market, industrial property, commercial property and primary land development. Partner and China capital markets co-head Wang Hang, along with Fex Xun partner Yolanda Zheng, led the firm’s team in the transaction. FenXun, a premier Chinese law firm, established a joint operation office with Baker McKenzie in China, under the name Baker McKenzie FenXun in 2015.

Moreover, Baker McKenzie has acted as lead counsel to GLP on the up to US$1.5 billion investment by Abu Dhabi Investment Authority (ADIA) in GLP. GLP’s strong financial position will be enhanced by ADIA’s initial capital deployment of US$500 million, which is expected to accelerate the Group’s mission of creating differentiated, scaled platforms across logistics, digital infrastructure and renewable energy – sectors benefitting from structural tailwinds driven by the expansion of e-commerce, accelerating adoption of AI/cloud technologies, and the global shift towards cleaner, more sustainable energy sources. Singapore M&A and private equity principals Shirin Tang and Lip Kian Ang, supported by principals / local principals Mark Tay, Emmanuel Hadjidakis, Ian Roebuck and Eunice Tan, and partners Kenneth Ching, Gerry Wong and Jason Ng, led the firm’s cross-border, multidisciplinary team in the transaction.

 

Clifford Chance has advised Jiaxin International Resources Investment on Hong Kong and US laws for its global offering and dual primary listing in Hong Kong and Kazakhstan. The Hong Kong listing raised approximately US$154 million. Jiaxin is a tungsten mining company focusing on the development of the Boguty tungsten mine in Kazakhstan. China practice chair and partner Tim Wang, with partners Jean Thio and Tianning Xiang, co-led the firm’s team in the transaction, which is the first dual listing in Hong Kong and Kazakhstan.

Clifford Chance is also advising leading Asia-focused alternative investment firm SeaTown Holdings International on the formation of SeaTown Private Credit Fund III (PCF III). SeaTown recently announced the successful first close of PCF III, with over US$612 million in capital commitments. PCF III attracted a diverse and global investor base, spanning the Middle East, Japan, Taiwan and Singapore. This transaction builds on SeaTown’s growing private credit franchise, and its successful deployments of PCF I and PCF II. The firm previously advised SeaTown on the formation of PCF II. Partner Kai-Niklas Schneider, supported by partners Chloe Cheng (Singapore-private funds), Jeff LeMaster (regulatory), Paul Koppel (ERISA), Richard Kalaher (tax) and Rebecca Pereira (tax), led the firm’s cross-border team in the transaction.

JSA has advised Garware Technical Fibres on its strategic acquisition, through its wholly-owned UK subsidiary Garware Technical Fibres UK, of 100 percent equity in Offshore & Trawl Supply and Advanced Mooring Supply, both incorporated under the laws of Norway. The acquisition marks a significant step in Garware’s global expansion strategy, enhancing its offerings in the aquaculture and mooring solutions space. Garware Technical Fibres is a global leader in technical textiles, providing innovative, application-focused solutions across aquaculture, fisheries, geosynthetics, sports and industrial sectors. Partner Rinku Ambekar led the firm’s team in the transaction, working in coordination with local Norwegian counsel.

JSA has also advised Axis Bank on the financing provided to Gentari Renewables Finnsurya Energy for four solar photovoltaic power projects, namely the 70 MW (AC) at Bhadla Solar Park Phase II, Jodhpur, Rajasthan; 2 × 50 MW (AC) at Pavagada Solar Park, Tumkur, Karnataka; 5 MW (AC) at Bhilwara, Rajasthan; and, 10 MW (AC) at Kapeli, Ujjain, Madhya Pradesh. The transaction has been structured to accommodate a diversified portfolio across multiple locations, requiring a flexible framework for project-specific cash flow management and security creation. The facility includes the refinancing of a term loan for capital expenditure and project development, as well as working capital facilities with provisions for letters of credit and bank guarantees. With the involvement of a Singapore-based shareholder, the structure required tailored regulatory compliance and customised shareholder undertakings. A comprehensive security package has been implemented to protect the lender, including assignment of project receivables, hypothecation of assets, escrow arrangements, and lender step-in rights. Partner Karan Mitroo, supported by partner Purvi Dabbiru, led the firm’s team in the transaction.

Moreover, JSA has advised 360 ONE on its pre- IPO investment in Brigade Hotel Ventures. The company has successfully raised Rs1.26 billion (US$14.3m) from 360 ONE Alternates Asset Management ahead of its maiden public issue. A subsidiary of the Bengaluru-based real estate conglomerate Brigade Enterprises, Brigade Hotel Ventures is a key player in the hospitality sector, leveraging the group’s strong presence in the real estate and commercial development space. The pre-IPO investment marks a significant milestone for Brigade Hotel Ventures, as it strengthens its capital base in preparation for its forthcoming public listing. Partner Siddharth Mody, supported by partners Rohan Kumar, Arka Mookerjee and Pracheta Bhattacharya, led the firm’s team in the transaction.

K&L Gates has advised South Korea-based GS Engineering & Construction (GS E&C) on the sale of its water treatment subsidiary GS Inima to Abu Dhabi National Energy Company (TAQA), a UAE state-owned energy and water company. The transaction is valued at approximately US$1.2 billion. GS E&C is a leading international construction and engineering firm. Its Spain-headquartered subsidiary, GS Inima, is a global leader in water treatment and water desalination, with a presence in Europe, the Americas, the Middle East, North Africa and Asia. TAQA’s acquisition of GS Inima marks a significant step in expanding its water treatment capabilities, and supports its strategic ambition to increase clean energy-based power generation to over 30 percent by 2030. Corporate partners Andrew Chung (Seoul), Dr. Franz Schaefer (Munich), Craig Fraser (London) and Francesco Carloni (Brussels) led the firm’s team in the transaction.

Rajah & Tann Singapore has acted for DBS Bank, as arranger, on the update of the Land Transport Authority’s S$12 billion (US$9.32m) Multicurrency Medium Term Note Programme to, among other things, enable the Land Transport Authority to issue green bonds under the programme. Capital markets partners Lee Xin Mei, Eugene Lee and Enoch Long led the firm’s team in the transaction.

Rajah & Tann Singapore is also acting as Singapore counsel for CVC on the €1 billion (US$1.17b) acquisition of DIF Capital Partners, a leading European infrastructure manager. Partners Anne Yeo (funds and investment management) and Benjamin Liew (financial institutions) are leading the firm’s team in the transaction.

Trilegal has advised UKB Electronics on its proposed IPO of equity shares aggregating up to Rs8 billion (US$91m), comprising of a fresh issue of equity shares aggregating up to Rs4 billion (US$45.4m) by the company, and an offer for sale by the promoter selling shareholders aggregating up to Rs4 billion (US$45.4m). The book-running lead managers were Motilal Oswal Investment Advisors and IIFL Capital Services. UKB Electronics is an integrated electronic manufacturing services provider, with end-to-end capabilities in product design, prototyping and manufacturing electronic and electrical products and solutions. It serves leading original equipment manufacturers, including multinational corporations, such as LG Electronics India, Panasonic Appliances India, Carrier Midea India and Haier Appliances India. UKB operates eleven manufacturing facilities, strategically located across North, West and South India, with a total manufacturing capacity spread over 1.1 million sq ft. Partner Abhinav Maker led the firm’s team in the transaction.

Trilegal has also advised Muthoot Finance on its drawdown, via an issuance of Rule 144A/Regulation S US$-denominated senior secured notes due in 2030 with a coupon of 6.375 percent, aggregating to US$600 million. The drawdown was undertaken by Muthoot Finance under its US$2 billion global medium term note program. Deutsche Bank Singapore Branch and Standard Chartered Bank were the managers to the offering. The notes were listed in India. Muthoot Finance is the largest gold loan NBFC, in terms of loan portfolios. The issue proceeds will be applied for onward lending and other activities, as may be permitted by the RBI. Partners Richa Choudhary (capital markets), Joseph Jimmy (banking and finance) and Komal Dani (tax) led the firm’s team in the transaction.

Moreover, Trilegal has advised on the block trade of equity shares undertaken by the promoter in Avalon Technologies. The equity share sale, aggregating to approximately Rs3 billion (US$34m), was undertaken in the secondary market on the floor of the stock exchanges. Avalon Technologies provides end-to-end electronic manufacturing services, design, engineering and supply chain solutions. Partners Richa Choudhary, Murtaza Zoomkawala and Harsh Maggon led the firm’s team in the transaction.

WongPartnership has represented DBS Bank on its groundbreaking partnership with DFI Retail Group, a leading Asian retail conglomerate, to deliver exclusive privileges, promotions and deals to DBS and POSB cardholders across DFI’s extensive network of over 680 retail outlets in Singapore, including their Cold Storage, Giant, Guardian and 7-Eleven brands. This ambitious collaboration, launched amid DFI’s impending divestment of its food business (encompassing Cold Storage, Giant and Jason’s) to Macrovalue, required agile navigation of transitional uncertainties, while safeguarding DBS’s strategic interests. Partner Lam Chung Nian led the firm’s team in the transaction.

WongPartnership has also acted for multi-family office and investment firm Cercano Management on its investment in Agridence, a Singapore-based technology leader in digital agri-commodity supply chains. This investment, supported by returning strategic investors EXEO Innovation Fund and Provident, will empower Agridence to rapidly scale its multi-commodity compliance platform to help its customers by tackling industry-wide challenges, such as supply chain opacity, sustainability risks and fragmented smallholder networks. Partners Kyle Lee and Jolynn Lim led the firm’s team in the transaction.