AZB & Partners has advised Syngenta International on the acquisition of an approximately 67 percent stake and indirect control of Syngenta by China National Chemical, through its subsidiary, China National Agrochemical. Partners Samir Gandhi and Rahul Rai led the transaction, which was valued at Rs2.8 trillion (US$43b) and was cleared by the Competition Commission of India on May 16, 2017.
AZB & Partners has also advised Swanland Investment, an affiliate of Warburg Pincus, on its acquisition of a minority stake of Capillary Technologies International Singapore. Partners Srinath Dasari and Nanditha Gopal led the transaction, which was valued at Rs1.28 billion (US$19.7m).
J Sagar Associates has advised Pune Metropolitan Region Development Authority (PMRDA) on its negotiations with Virgin Hyperloop One and on the MOUs entered between PMRDA and Virgin Hyperloop One on the pre-feasibility studies and feasibility studies to be undertaken by Virgin Hyperloop One to analyse the applicability and benefits of hyperloop technology and identify high priority routes between Pune to Mumbai, in relation to the proposed hyperloop transportation. Partners Venkatesh Raman Prasad, Vishnu Sudarsan and Ashish Suman led the transaction.
J Sagar Associates has also advised Aeon Learning (Avagmah) on its series E fund raise of Rs205 million (US$3.16m) from IHE Venture Consultants (Manipal Education and Medical Group) and one of its existing investors. Avagmah is a Bengaluru-based ed-tech startup, providing online education services worldwide, direct to customers or partnering with corporates, universities and enabling educational institutions, by creation of course design and content creation, through technology platform. As part of the transaction, the entire business of another online ed-tech startup, Edvista Educational Services, which offers a hybrid model that combines live classes and an online platform for learning, will merge with Avagmah. The current investment is to expand the business operations. Partners Gerald Manoharan and Arjun Perikal led the transaction.
Khaitan & Co has advised DST Global on Apoletto’s US$50 million Series B investment in Udaan, an online B2B marketplace. DST Global is an investment company that funds late-stage ventures in the global internet industry. Partner Sharad Moudgal led the transaction.
Khaitan & Co has also advised Birlasoft (India) and its promoters National Engineering Industries and Central India Industries on the overall transaction, including the open offer by promoters of KPIT Technologies and Birlasoft to KPIT’s public shareholders for acquiring up to 26 percent of KPIT’s share capital, the merger of Birlasoft into KPIT, and the demerger of the engineering business from KPIT into KPIT Engineering. Partners Haigreve Khaitan and Niren Patel, supported by partners Arindam Ghosh and Avaantika Kakkar, executive director Daksha Baxi, associate director Vinita Krishnan and associate partner Moin Ladha, led the transaction.
Maples and Calder (Hong Kong) has acted as Cayman Islands and BVI counsel to Powerlong Real Estate Holdings on its issue of HK$1.99 billion (US$254.3m) zero coupon convertible bonds due 2019. Partner Richard Spooner led the transaction, while Sidley Austin acted as Hong Kong law and English law counsel. Linklaters acted as Hong Kong law and English law counsel to Merrill Lynch (Asia Pacific), Credit Suisse (Hong Kong), The Hongkong and Shanghai Banking Corporation and UBS Hong Kong Branch as managers of the offering.
Mayer Brown JSM has represented Asia Clean Capital (ACC), a leading clean energy solutions developer in China, on its joint venture with EDF Energies Nouvelles, a renewables-focused subsidiary of the world’s largest electricity company EDF Group. Through this joint venture, the parties plan to develop a portfolio of distributed solar projects across China. The partnership will build on ACC’s work in the country to provide multinational and domestic firms with sustainable and cost-efficient rooftop solar systems, with its services ranging from support on project costs, designs, engineering and equipment to maintenance, governmental approvals and installations. Corporate and securities partner Mark Uhrynuk, supported by banking and finance partner Doos Choi, led the transaction. Clifford Chance, led by partner Kelly Gregory, advised EDF Energies Nouvelles.
Rajah & Tann Singapore is advising BRC Asia on its S$199.3 million (US$151m) pre-conditional voluntary cash offer for shares in Lee Metal Group. Both companies are listed in Singapore. Lee Metal is an established distributor and fabricator of steel products, as well as a recognised international trader of steel and steel-related products in the region. Partner Danny Lim led the transaction.
Rajah & Tann Singapore has also acted as Singapore counsel to ZACD Group on its HK$495 million (US$63.2m) listing in Hong Kong. Partners Howard Cheam, Arnold Tan and Elsa Chai led the transaction.
Shook Lin & Bok has acted as Singapore listing counsel for Kakao on its listing and quotation in Singapore of approximately 8.26 million global depositary shares, representing the same number of shares of common stock, with par value of W500 (US$0.47) per share in Kakao. Partners Marilyn See and Lian Shueh Min led the transaction.
The Capital Law Office has represented Thai Plaspac (TPAC), a Thailand-listed company engaging in plastic consumer packaging business, on its Thai regulatory requirements for the acquisition of 80 percent of the shares in Sunrise Containers, India’s third largest manufacturer of high-quality PET and PP preforms and containers. TPAC’s acquisition of Sunrise is to expand its manufacturing footprint outside Thailand. Partner Chatri Trakulmanenate led the transaction, which was valued at approximately Bt2.93 billion (US$ 93.6m).
WongPartnership has advised on the issuance of S$100 million (US$75.8m) four percent notes due 2023, pursuant to the S$250 million (US$189.5m) multicurrency medium term note programme of Breadtalk Group. The transaction was led by partner Trevor Chuan.
WongPartnership is also advising DCP Capital Partners on the acquisition of printed circuits board solution provider MFS Technology, from Navis Capital Partners and Novo Tellus Capital Partners. Partners Christy Lim, Chan Sing Yee, Felix Lee and Jason Chua are leading the transaction.