Latest Deals from Law Firms and Legal Services Providers: 29th October 2025

Allen & Gledhill has advised CIMB Bank Singapore Branch, The Hongkong and Shanghai Banking Corporation Singapore Branch and Standard Chartered Bank (Singapore) on the issue of S$500 million (US$385.5m) 2.486 percent green notes due 2055 by the Public Utilities Board (PUB). The notes will be used to finance or refinance new or existing eligible green projects under the PUB’s Green Financing Framework. Partners Margaret Chin and Sunit Chhabra led the firm’s team in the transaction.

Baker McKenzie is advising Peak Reinsurance (Peak Re) on the entry into and completion of definitive agreements with KKR and Quadrantis Capital for the acquisition, via Peak Reinsurance Holdings, of minority stakes in Peak Re. This strategic partnership will reinforce Peak Re’s commitment to serve its global clientele. Peak Re is a global reinsurer specializing in emerging markets. Established in 2012, Peak Re ranks 27th among global reinsurance groups, in terms of net reinsurance premiums written. KKR is a leading global investment firm that offers alternative asset management, as well as capital markets and insurance solutions. Quadrantis Capital is a Portuguese investment management firm specializing in private equity and venture capital. Private equity partners Xinxing Chen and Derek Poon, supported by partners Martin Tam, Joachim Frick, Kenneth Ching, Baker McKenzie Wong & Leow principal Stephanie Magnus and FenXun partner Laura Liu, led the firms’ team in the transaction, which is subject to customary conditions, including regulatory approvals. FenXun established a joint operation office with Baker McKenzie in China under the name Baker McKenzie FenXun in 2015.

Baker McKenzie has also advised Pinnacle Investment Management Group on its strategic investment in Advantage Partners, Japan’s largest independent, locally-grown, diversified private markets platform. The transaction also involves distribution services arrangements covering global distribution of Advantage Partners’ strategies. This strategic investment will deepen Pinnacle’s presence and participation in Japan, and aligns with the company’s objective to diversify internationally and increase exposure to global private assets, particularly in the attractive mid-market area. Pinnacle is a global multi-affiliate investment management firm that provides specialist investment managers with superior global distribution, fund infrastructure and support services. Partners Robert Wright, Lance Sacks and Baker McKenzie Wong & Leow Singapore principal Shirin Tang led the firms’ team in the transaction.

Moreover, Baker McKenzie has acted as Hong Kong and US counsel to CIG Shanghai on its successful global offering and listing in Hong Kong. The offering is expected to raise approximately US$594 million, or approximately US$683.1 million if the over-allotment option is fully exercised. The company’s H shares commenced trading on October 28, 2025. Shanghai-listed CIG Shanghai is a global and industry-leading company that provides critical infrastructure components supporting the development of AI. It is one of the few global companies offering high-efficiency and instant connectivity solutions across photonics, broadband and wireless technologies, and ranks fifth globally in the integrated optical and wireless connectivity devices industry. Proceeds from this offering will be used for investments in production and market expansion, research and development, as well as working capital and general corporate purposes. Guotai Junan Capital acted as sole sponsor. Guotai Junan Securities (Hong Kong) and CLSA acted as joint overall coordinators. They also acted as joint global coordinators, joint book-runners and joint lead managers, along with DBS Asia Capital. Baker McKenzie partner and Asia Pacific and China capital markets co-head Christina Lee, supported by Baker McKenzie partners Wang Hang and Sheng Chen and FenXun partner Yolanda Zheng, led the two firms’ team in the transaction. FenXun established a joint operation office with Baker McKenzie in China under the name Baker McKenzie FenXun in 2015.

Clifford Chance has advised SANY Heavy Industry on its IPO and listing in Hong Kong, raising over US$1.7billion. Founded in 1994, SANY has established itself as an innovation-driven global leader in the construction machinery industry. SANY is dedicated to the R&D, manufacturing, sales and servicing of an extensive portfolio of construction machinery, including excavating, concrete, hoisting, piling and road machinery. In terms of core construction machinery’s cumulative revenue from 2020 to 2024, SANY is the world’s third largest and China’s largest construction machinery company. It has been listed in Shanghai since 2003. China practice chair and partner Tim Wang and partners Jean Thio and Tianning Xiang, supported by Shanghai He Ping Law Firm capital markets head Lorna Lyu, led the combined Clifford Chance He Ping team in the transaction. Clifford Chance and Shanghai He Ping Law Firm have established a Joint Operation in the China (Shanghai) Pilot Free Trade Zone, under the name Clifford Chance and Shanghai He Ping Law Firm (FTZ) Joint Operation Office, with the approval of the Shanghai Bureau of Justice.

Clifford Chance is also advising Partners Group, acting on behalf of its clients, on the sale of its 24.9 percent minority stake in leading integrated global logistics solutions provider Apex Logistics to majority shareholder Kuehne+Nagel. Partners Group is one of the largest firms in the global private markets industry. The transaction, which is expected to close in 2025, marks a full exit for Partners Group from its investment in 2021, and values Apex at an enterprise value of over US$4 billion. Founded in 2001 and headquartered in Singapore, Apex operates 48 sites worldwide, serving over 20,000 customers across more than 70 countries. Apex moved 420,000 tons of airfreight and 300,000 TEU of ocean freight in 2024. Partner Bryan Koo, supported by partner Edith Leung, led the firm’s team in the transaction.

Davis Polk has advised JST Group on its IPO and Rule 144A and Regulation S listing in Hong Kong. The gross proceeds from the offering amounted to approximately HK$2.1 billion (US$270m), before the exercise of the over-allotment option. JST Group is China’s largest e-commerce SaaS ERP provider, in terms of relevant revenue in 2024, with a market share of 24.4 percent, exceeding the combined market share of the second to the fifth largest players. The company offers cloud-based SaaS products, providing customers with an extensive, unified and intuitive way to monitor, operate and manage their businesses in the fast-evolving e-commerce industry. Its comprehensive offerings primarily include e-commerce SaaS ERP products and other e-commerce operation SaaS products. Partners Li He, Jason Xu and Ran Li led the firm’s multi-jurisdictional team in the transaction.

JSA Advocates & Solicitors has advised Nuvama Wealth Management on the IPO of units of infrastructure investment trust Anantam Highways Trust, comprising an issuance of units aggregating to Rs40 billion (US$453m). As part of the transaction, Anantam Highways Trust has also acquired seven road assets, which operate on a hybrid annuity model, from Dilip Buildcon and its associates, as well as from certain associates of Alpha Alternatives Holding. The trust filed its final offer document with the SEBI on October 13, 2025, and subsequently listed its units on the stock exchanges on October 16, 2025. Partner Arka Mookerjee, supported by partner Siddhartha Desai, led the firm’s team in the transaction.

JSA Advocates & Solicitors has also advised Tech UniApps (India) Services and its founder on UnifyApps’ latest fundraise round, which involved investments, inter alia, by incoming investor WestBridge Capital, few existing investors, including ICONIQ Capital and Kamath Technology, and certain UnifyApps co-founders. Partner Rishabh Gupta led the firm’s team in the transaction.

Moreover, JSA Advocates & Solicitors has advised SBI Capital Markets, Axis Capital and JM Financial, as the book-running lead managers, on the IPO of equity shares of Canara Robeco Asset Management. The IPO comprised an offer for sale, aggregating to approximately Rs13.26 billion (US$150m), by the promoter selling shareholders, Canara Bank and ORIX Corporation Europe. Partner Arka Mookerjee, supported by partner Siddhartha Desai, led the firm’s team in the transaction.

Shardul Amarchand Mangaldas & Co has successfully represented Tau Investment Holdings and J B Chemicals and Pharmaceuticals on securing conditional approval from the Competition Commission of India for the proposed acquisition Torrent Pharmaceuticals of shareholding in J B Chemicals, and the subsequent amalgamation of J B Chemicals with Torrent. With a valuation of approximately Rs190 billion (US$2.15m), this is set to be the second largest transaction in the Indian pharmaceutical sector. Partners Raghubir Menon and Anirban Bhattacharya, supported by partners Yaman Verma and Aman Singh Sethi, led the firm’s team in the transaction.

Shardul Amarchand Mangaldas & Co has also advised Emirates NBD Bank, one of the Middle East’s largest and most dynamic banking groups, on its landmark approximately Rs268 billion (US$3 billion) majority acquisition of RBL Bank. Through a combination of a preferential allotment of equity shares and a mandatory open offer, Emirates NBD will acquire a 51 percent to 74 percent controlling stake in RBL Bank, marking a transformative moment for the Indian banking industry. This deal represents the largest fundraise via preferential issuance by a listed company in India, the largest foreign direct investment in India’s financial-services sector, the largest equity fund raise by an Indian bank, and the first instance of a profitable Indian bank becoming a subsidiary of a foreign bank. The transaction also paves the way for the integration of Emirates NBD’s India operations with RBL Bank, aligning with the Reserve Bank of India’s single-mode-of-presence framework for foreign banks — a milestone that underscores India’s growing position as a global financial hub. Partners Veena Sivaramakrishnan, Anirban Bhattacharya and Dhananjai Charan, supported by partners Harman Singh Sandhu, Aman Singh Sethi, Yogesh Chande, Raghubir Menon, Navruz Vakil and managing partner Pallavi Shroff, led the firm’s team in the transaction.

Moreover, Shardul Amarchand Mangaldas has advised on an approximately US$350 million on-market sale by Jusmiral Holdings of 8.93 percent shareholding in Cohance Lifesciences (formerly Suven Pharmaceuticals). Jusmiral Holdings is controlled by funds managed by Advent International. The firm has earlier advised Advent in its control acquisition, via a share purchase and mandatory open offer, of Suven Pharmaceuticals. The firm also advised on the subsequent merger of Cohance with and into Suven, upon which Suven was renamed as Cohance. Partner Ambarish, supported by partner Ameya Gokhale, led the firm’s team in the transaction.

S&R Associates has represented private life insurer Canara HSBC Life Insurance on its Rs25.15 billion (US$285m) IPO. Partners Sandip Bhagat and Juhi Singh led the firm’s team in the transaction.

TT&A has advised A91 Emerging Fund II on its lead investment (primary and secondary) in Ratnaa Shree Anandhaas Hotels, a restaurant and sweet outlet chain operating in Tamil Nadu. Partners Sachin Mehta and Harshit Chandra led the firm’s team in the transaction. LKS also advised the company and the selling shareholders. 

TT&A has also advised WestBridge AIF I, along with co-investors MMPL Trust and Konark Trust (collectively, WestBridge Capital) on their investment into Intellihealth Solutions, as part of the US$85 million Series C Round led by Accel and Peak XV. WestBridge Capital invested in TrueMeds via a combination of primary and secondary investment, with purchase of shares from certain Intellihealth existing shareholders, including the founders, IAN Fund I and individual angel investors. “Truemeds” is the popular brand name operated principally by Intellihealth wholly-owned subsidiary ANKW Pharma Retail, which runs a tele-health platform that provides teleconsultation, home delivery of medicines and healthcare products, and other related services. Partners Gautam Saha, Amrita Patnaik and Harshit Chandra led the firm’s team in the transaction. JSA advised Intellihealth Solutions, Shardul Amarchand Mangaldas advised Accel India VII (Mauritius), and Khaitan & Co advised Peak XV and Info Edge Venture Fund.

Moreover, TT&A has advised General Catalyst India on its investment in Meolaa E-Commerce. Meolaa plans to develop a portfolio of purpose-driven, digital-first microbrands fueled by a shared platform supporting cross-brand innovation, supply chain resilience and marketing. Meolaa is starting with the beauty and personal care (BPC) market, one of India’s fastest-growing sectors. Partners Sachin Mehta and Harshit Chandra led the firm’s team in the transaction.