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

Allen & Gledhill has advised StarHub on the issue of S$300 million (US$232m) 2.55 percent notes due 2035, under its S$2 billion (US$1.54b) multicurrency debt issuance programme. Partner Wu Zhaoqi led the firm’s team in the transaction.

AZB & Partners has advised CyberSolve (I), Identity Access Solutions and Mr Sumit Utreja on the Rs5.8 billion (US$65m) acquisition by Hexaware Technologies of Cybersolve. Partners Anand Shah and Kinshuk Jhunjhunwala led the firm’s team in the transaction, which was completed on November 7, 2025.

AZB & Partners is also advising Tata Consultancy Services and HyperVault AI Data Center on the Rs180 billion (US$2b) acquisition by Tata Consultancy Services, along with TPG Terabyte Bidco, of stake in HyperVault. Partners Srinath Dasari, Nandish Vyas, Nilanjana Singh, Devika Nayak and Bharat Budholia are leading the firm’s team in the transaction, which was signed on November 20, 2025 and is yet to be completed.

Moreover, AZB & Partners has advised Siguler Guff & Company on its Rs110 billion (US$1.2b) acquisition, along with other acquirers, of stake in La Renon Healthcare from A91 Emerging Fund I. Partner Roxanne Anderson led the firm’s team in the transaction, which was completed on November 4, 2025.

Baker McKenzie has advised leading regional specialty chemicals distributor WWRC Holding, backed by Tower Capital Asia, on its strategic acquisitions of Farben Technique and KC Chemicals in Malaysia. The acquisition of Farben will enhance WWRC’s platform by adding advanced R&D and manufacturing capabilities, while the addition of KC Chemicals will further strengthen WWRC’s position in the life sciences sector. Both acquisitions are aligned with WWRC’s vision to become a differentiated one-stop chemical solutions provider in the region. Singapore M&A principal Ting Xiao Hui, supported by Kuala Lumpur M&A partner Teo Ee Von, led the firm’s team in the transaction.

Christopher & Lee Ong, member firm of Rajah & Tann Asia, has acted for CGS International Securities Malaysia, as the joint underwriter and joint placement agent, on the RM114.3 million (US$27.65m) IPO and listing of Aquawalk Group (operator of Aquaria KLCC) in Malaysia. Partners Justin Chua, Leong Li Sze and Vivian Lim from the Capital Markets Practice led the firm’s team in the transaction, which represents the region’s first oceanarium operator to go public.

Clifford Chance is advising Tokyo-listed Prime Strategy, a Japanese company which provides cloud integration services, on the announced business alliance and public tender offer by GMO Internet Group for the proposed acquisition of a majority stake in Prime Strategy. Valuing Prime Strategy at approximately ¥6 billion (US$38.7m), GMO Internet announced its public tender offer at ¥1,600 (US$10.31) per share, and is looking to acquire a minimum of approximately 1.85 million shares (50.01 percent) and up to 2.2 million shares (60 percent). Prime Strategy is recognised for its expertise in cloud integration and web performance solutions. Tokyo-listed GMO Internet Group is a leading Japanese technology conglomerate delivering a broad range of internet services, including infrastructure, advertising and fintech, and continues to drive innovation through cloud, cybersecurity and emerging technologies, such as blockchain. Partner Michihiro Nishi led the firm’s team in the transaction.

Goodwin has advised FountainVest on its investment, along with leading Asia-based alternative asset manager CPE, in SML Group, a global leader in digital identification solutions, such as item-level Radio-Frequency Identification (RFID). SML is shaping the future of brand identification globally with smart, creative and sustainable solutions that elevate brands. Operating in more than 25 locations across more than 20 countries, SML delivers global insights and local expertise through a diverse and customer-focused team. Hong Kong private equity partner Daniel Dusek, supported by partners Stephen Howard (private equity), Dulcie Daly (tax) Eram Khan (antitrust), Simone Waterbury (HSR) Ai Tajima (W&I), Huiya Wu (IPTS/IP litigation), Jacob Osborn (global trade), Richard Matheny (global trade) and Curtis McCluskey (data privacy), led the firm’s team in the transaction.

JSA Advocates & Solicitors has advised Centrum Housing Finance and Centrum Capital on the sale of Centrum Capital’s entire shareholding in Centrum Housing Finance to Weaver Services. Founded by Satrajit Bhattacharya and backed by marquee investors, such as Premji Invest, Light Speed and Gaja Capital, Weaver Services has been set up to enter the affordable home finance space. Partner Sidharrth Shankar, supported by partners Nandini Seth, Utsav Johri, Megha Upadhyay, Vaibhav Choukse and Ela Bali, led the firm’s team in the transaction, which is subject to approval from Centrum House Financing and Centrum Capital shareholders, as well as other requisite statutory, regulatory and third party approvals.

JSA Advocates & Solicitors has also advised Synova on its investment in Klearcom, a leading a global customer experience assurance SaaS provider. Klearcom provides global blue-chip clients with market-leading software, supported by a worldwide proprietary network that delivers automated testing and issue-resolution for international contact centres. Synova is recognised as one of Europe’s most innovative growth investors. Partner Sidharrth Shankar, supported by partners Nandini Seth, Vaibhav Choukse, Manish Mishra and Sonakshi Das, led the firm’s team in the transaction.

Moreover, JSA Advocates & Solicitors has advised Neon Hybren on a rupee facility, including a letter of credit facility as a sub-limit of the same, which Neon Hybren proposed to avail from the Export Import Bank of India. Partner Karan Mitroo, supported by partner Purvi Dabbiru, led the firm’s team in the transaction.

Latham & Watkins has advised Singapore-headquartered infrastructure credit platform Clifford Capital on its seventh public infrastructure asset-backed securities (IABS) transaction. With an overall issuance size of US$705.5 million, Bayfront VII represents the largest infrastructure CLO/IABS issued to date. Bayfront VII is Clifford Capital’s inaugural Rule 144A/Reg S issuance, accessible to, among others, US persons which are qualified institutional buyers and qualified purchasers. It is also the first IABS issuance with notes (Class X and Class A Notes) that carry credit ratings from two rating agencies. It features a total of US$670.1 million in five classes of senior notes, including the debut of Class X Notes, created in response to investor demand for short-term investments. The Class X and Class A Notes are rated Aaa (sf) and AAA sf by Moody’s and Fitch, respectively, while the Class B and Class C Notes are rated Aa3 (sf) and Baa3 (sf), respectively, by Moody’s. As with Clifford Capital’s prior public IABS issuance, the Class D Notes represent an unrated mezzanine tranche offered on an unguaranteed basis. Clifford Capital has now structured and placed seven public IABS transactions, totaling US$3.4 billion. Finance partners Michael Hardy (Hong Kong) and Timothy Hia (Singapore), supported by partners Jim Fogarty (New York), Sanjev Warna-kula-suriya (London), Stacey Wong (Singapore), Aaron Gilbride (Washington DC), Elena Romanova (New York) and Greg Hannibal (New York), led the firm’s team in the transaction.

Paul Hastings (Hong Kong) has advised Hebei Haiwei Electronic New Material Technology on its HK$440 million (US$56m) global offering and listing in Hong Kong. The Hong Kong public offering was oversubscribed more than 5,000 times. The firm also assisted Haiwei Electronic in drafting the prospectus for its global offering and listing. Haiwei Electronic is one of the largest capacitor film manufacturers in China. Founding partner and Greater China chair Raymond Li and corporate partners Peter Cheng and Steven Hsu, led the firm’s team in the transaction.

Shardul Amarchand Mangaldas & Co has advised AION Investments, a special purpose vehicle of a fund managed by affiliates of Apollo Global Management, on the sale of its entire stake held in Planetcast Media Services to Arugn Technologies. The transaction involved AION’s complete exit from Planetcast and its subsidiaries. Partners Gunjan Shah and Sangamitra Sankaraiah, supported by partners Shahana Chatterji, Pooja Ramchandani, Kriti Kaushik and Sangamitra Sankaraiah, led the firm’s team in the transaction.

S&R Associates has represented ICICI Securities and IIFL Capital, as the book-running lead managers, on the Rs8.95 billion (US$100m) IPO by Sudeep Pharma, a technology-led manufacturer of excipients and specialty ingredients for the pharmaceutical, food and nutrition industries. Partner Jitesh Shahani led the firm’s team in the transaction.

S&R Associates has also represented IRB InvIT Fund, a publicly listed infrastructure investment trust, on its Rs10.05 billion (US$112m) preferential issue of units to eligible investors. The proceeds from the preferential issue were used towards the acquisition by IRB InvIT Fund from IRB Infrastructure Trust of IRB Hapur Moradabad Tollway, Kaithal Tollway and Kishangarh Gulabpura Tollway, which operate and maintain toll roads in the Indian states of Uttar Pradesh, Haryana and Rajasthan, respectively. The firm also assisted in obtaining the Competition Commission of India’s approval for the acquisition. Partner Pratichi Mishra, supported by competition head partner Simran Dhir, led the firm’s team in the transaction.

Moreover, S&R Associates has represented IRB Infrastructure Trust, which owns and operates road assets, on the Rs84.36 billion (US$942m) sale of IRB Hapur Moradabad Tollway, Kaithal Tollway and Kishangarh Gulabpura Tollway, which operate and maintain toll roads in the Indian states of Uttar Pradesh, Haryana and Rajasthan, respectively, to IRB InvIT Fund, a publicly listed infrastructure investment trust. Partner Pratichi Mishra led the firm’s team in the transaction.

Trilegal has advised Vesuvius and its indirect subsidiary, India-listed Foseco India, on Foseco’s acquisition of 75 percent of the total issued and paid-up equity share capital of India-listed Morganite Crucible (India) from Morganite Crucible and Morgan Terrassen, in consideration of the preferential allotment of Foseco equity shares, representing 15.27 percent of Foseco’s total issued and paid-up equity share capital, to Morganite Crucible and Morgan Terrassen. The firm also advised on Foseco’s mandatory open offer to acquire equity shares of Morganite Crucible (India) from its public shareholders. This acquisition aligned with the larger cross-border acquisition by Vesuvius Group of Morgan’s global molten metals systems business across China, Germany, the USA and India, with India accounting for the largest share of the overall deal. This acquisition aims to expand the Vesuvius Group’s foundry business into the faster-growing non-ferrous market segment and to India. The underlying transaction involving the acquisition of shares of Morganite Crucible (India) and the allotment of shares of Foseco was completed on November 12, 2025. The deal value of the Indian leg of the transaction is Rs8.72 billion (US$97m), including Rs2.18 billion (US$24m) for the open offer, assuming full acceptance. Corporate partners Ashwyn Misra and Deep Choudhuri, supported by partners Kanishka Maggon, Monika Bhonsale and Sampath Kumar, led the firm’s team in the transaction.

TT&A has advised two Indian banks on their subscription to listed, senior, secured non-convertible debentures aggregating to Rs4.5 billion (US$50m) issued by Summit Digitel Infrastructure for the refinancing, repayment and/or prepayment of its existing indebtedness and for capital expenditure. Partners Gautam Saha and Nikhil Bahl led the firm’s team in the transaction. JSA advised Summit Digitel Infrastructure.

TT&A has also advised Sumitomo Corporation on its potential collaboration with TruAlt Bioenergy in operating TruAlt Gas as a joint venture company for developing and setting up compressed biogas plants, and for the proposed acquisition by Sumitomo of 49 share of the share capital of the company. Partners Gautam Saha, Punita Gupta and Akshay Malhotra led the firm’s team in the transaction. DSK Legal advised TruAlt Bioenergy and TruAlt Gas.

WongPartnership has acted for Aster Ventures on its investment in Aether Fuels, a climate technology company revolutionising sustainable fuel production in the aviation and ocean shipping industries. A part of the Aster Group, Aster Ventures is a leading provider of energy, chemical and infrastructure solutions in Southeast Asia. The investment forms part of Project Beacon – the construction and development of a sustainable aviation fuel production plant on Pulau Bukom, which is the first such facility in Southeast Asia. Partner Kyle Lee led the firm’s team in the transaction.

WongPartnership is also acting for Neo Say Chuan and Tiong Bock Lian, as the claimants, on the lawsuit against PropNex Realty, its sales agent and Anthony Law Corporation for negligent misrepresentations and/or breach of duty of care, in relation to the use of the 2-Step 99-1 method in purchasing a property. Partner Gavin Neo is leading the firm’s team in the matter.