Deals – 31 July 2008

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Gilbert + Tobin advised US timber giant Weyerhaeuser Co on the A$500 million sale of its Australian timber manufacturing and distribution businesses to a subsidiary of New Zealand company Carter Holt Harvey Ltd.

JSM has represented the Macau Special Administrative Region as appointed counsel on their recovery of corrupt proceeds and assets received by their former Secretary for Transport and Public Works, Ao Man Long. Earlier in the year, Ao was convicted by the Macau Court of Final Appeal on offences of corruption and money laundering and was sentenced to 27 years of imprisonment and a fine together with a confiscation/restitution order made against all his assets totalling approximately HK$245,472,702.00.

Latham & Watkins has advised Canadian Solar in its follow-on offering on the NASDAQ. The company has granted the underwriters a 30-day option to purchase up to an additional 525,000 shares, solely to cover over allotments.

Latham & Watkins has advised China Sunergy in its concurrent offerings of US$54.5 million of convertible senior notes and 4,431,000 borrowed American depositary shares, which were borrowed by Credit Suisse Securities, the bookrunner of the notes offering.

Latham & Watkins has advised Trina Solar Ltd in its concurrent offerings of US$138 million of Convertible Senior Notes and 4,073,194 Borrowed American Depositary Shares.The notes sold include US$18 million aggregate principal amount of notes issued due to the underwriters’ exercise in full of their over-allotment option.

Lovells has advised the joint lead managers – Badr Al Islami, Mashreqbank psc, Dubai Islamic Bank PJSC, Standard Chartered Bank, Emirates Islamic Bank PJSC and United Bank Ltd – on AED1,100,000,000 Sukuk (Islamic bonds) issued for Tamweel PJSC. The Sukuk are rated A3 by Moody’s Investor Services Inc and A by Fitch Ratings Ltd and will be listed on the Dubai International Financial Exchange.

Majmudar & Co acted as Indian legal counsel to GTECH Global Services Corp Ltd in its recent acquisition of the Hyderabad-headquartered software development services company, Springboard Technologies Private Ltd. The firm assisted GTECH in deal structuring and finalizing the transaction documents to acquire 90 percent of Springboard’s shares. They also advised GTECH on corporate, foreign exchange, tax, employment, intellectual property, and other Indian law aspects of the transaction.

Majmudar & Co acted as Indian legal counsel to the issuer, Gokul Refoils & Solvent Ltd, India, in its recent public issue of 7,158,392 equity shares. The issue constitutes 27.14 percent of the fully diluted post-issue equity capital of the company.

Nishith Desai Associates acted as legal and tax counsel to Monsoon India Infrastructure Direct II Ltd in its joint venture with Ganesh Housing Corporation Ltd, a listed real estate company in Ahmedabad. Monsoon shall invest US$31.25 million to acquire 25.1 percent of the joint venture entity, Ganesh Infrastructure (India) Private Ltd.

Rajah & Tann LLP acted as counsel to Raiffeisen Zentralbank Oesterreich AG, Singapore Branch (RZB) in banking facilities (worth approximately US$107million) granted by RZB to Citra Group Pte Ltd as standby buyer to acquire shares in PT Citra Kebun Raya Agri Tbk. The shares were acquired in connection with a rights issue to finance the acquisition of an Indonesian group of companies involved in agricultural and bio-diesel industries.

White & Case, together with Venture Law in Singapore, acted for Alpha Investment Partners LTD in its Alpha Asia Macro Trends Fund. The Alpha Asia Macro Trends Fund raised a total of $US1.2 billion from 15 institutional investors. The fund will target real estate in Singapore, Japan, Taiwan, South Korea and Hong Kong, and the emerging markets of China, India and Vietnam.