Allen & Gledhill has advised Wavemaker Pacific 4 on leading the US$1.1 million series pre-seed round investment in HR Tech Solutions (GetJobsPH). GetJobsPH is a Singapore-headquartered information technology start-up which provides information technology products and services, including research, software development, production, management and operation of software and hardware technology and other information technology applications. Partner Nicholas Soh led the firm’s team in the transaction.
Allen & Gledhill has also advised Natixis Corporate & Investment Banking, AmInvestment Bank and AmBank Islamic, United Overseas Bank, ING Bank Singapore Branch, Affin Bank and CIMB Islamic Bank and CIMB Investment Bank, as the lenders, on the US$500 million conventional loan and Islamic financing facilities to Yinson Production Offshore. Natixis, AmInvestment, Affin, CIMB, ING and UOB were appointed coordinators, mandated lead arrangers and book-runners. The proceeds of the facilities will be used for refinancing certain existing debt and general corporate purposes. A portion of the facilities are specifically designated for green initiatives, in support of Yinson’s continuous efforts in innovating and introducing cutting-edge technologies to reduce emissions and be the frontrunner in decarbonising the FPSO industry towards the goal of net zero. Partner Aloysius Ng led the firm’s team in the transaction.
Moreover, Allen & Gledhill has advised Energy Market Authority of Singapore (EMA) on the establishment of a S$2 billion (US$1.5b) multicurrency medium term note programme. Partners Margaret Chin and Sunit Chhabra led the firm’s team in the transaction.
AZB & Partners has advised Warburg Pincus and its affiliates, including Warburg Pincus Singapore, on their Rs83.03 billion (US$1b) acquisition in Everise Group. The acquisition includes BCP V Everise Topco, Everise Holdings and its group companies, which include Everise (India) BPO Services. Partners Ashwath Rau and John Adwet Raghav led the firm’s team in the transaction, which was completed on December 21, 2023.
AZB & Partners has also advised Computer Programs and Systems on its Rs2.9 billion (US$35m) acquisition of 100 percent of the share capital of Viewgol. Partners Ashwath Rau and Atreya Bhattacharya led the firm’s team in the transaction, which was completed on October 16, 2023.
Clifford Chance has advised Light Detection and Ranging (LiDAR) and perception solutions company RoboSense Technology on its IPO and listing in Hong Kong. RoboSense is the first listing in Hong Kong in 2024. LiDAR is a remote sensing technology that uses light to measure distance or range of objects, and is a key technology in the advancement of automotive and robotic markets. Shenzhen-headquartered RoboSense is a global leader in LiDAR hardware, software and full-stack solutions, providing innovative technological solutions that combines chip-driven LiDAR hardware and AI perception software for the development and commercialisation of autonomous driving and robotics. Partners Christine Xu and Fang Liu led the firm’s team in the transaction.
Clifford Chance has also advised China Baowu Steel Group, the world’s largest steel producer, on the global merger control filings for its acquisition of equity interest in Shandong Iron & Steel Group. China Baowu Steel Group, a state-owned iron and steel company headquartered in Shanghai, is the largest iron and steel company globally. SD Steel is a state-owned enterprise headquartered in Jinan, Shandong Province, and majority owned by the State-owned Assets Supervision and Administration Commission of Shandong Provincial People’s Government. It mainly manufactures and distributes steel products. Partner Yong Bai, supported by partners Marc Besen and Dimitri Slobodenjuk, led the firm’s team in the transaction.
Dentons Hong Kong has acted as English, Hong Kong and US counsel to SunRiver International Securities Group and other members of the underwriter syndicate for the underwriting of the dim sun bonds offering by Luzhou Aviation Development Investment Group in a global offering under Regulation S of English law governed Rmb610 million (US$85.2m) 4.8 percent bonds due 2027, backed by letter of credit issued by Bank of Tianjin. The underwriter syndicate of this offering includes CNCB (Hong Kong) Capital, SunRiver International Securities Group, TFI Securities and Futures, CLSA, China Zheshang Bank (Hong Kong Branch), Industrial Bank Hong Kong Branch, China Industrial Securities International Brokerage, Shenwan Hongyuan Securities (HK), Guoyuan Securities Brokerage (Hong Kong), Shanghai Pudong Development Bank Hong Kong Branch and China Galaxy International Securities (Hong Kong). Luzhou Aviation Development Investment Group is a state-owned enterprise engaged in the investment, development and operation of the aviation and aerospace industry in Luzhou City, principally to undertake the construction, financing and operation of the public infrastructure and the construction and sales of commercial housing in the Luzhou Aerospace Industrial Park, as well as the operation of the Luzhou Yunlong Airport, the first and largest airport in the southern Sichuan region. Capital market partner Gordon Ng led the firm’s team in the transaction.
Saraf and Partners has advised Maruti Suzuki India (MSI) on the 100 percent acquisition of Suzuki Motor Gujarat (SMG), a wholly-owned subsidiary of Suzuki Motor Corporation Japan (SMC), for approximately US$1.5 billion, via preferential issuance of equity shares of MSI to SMC. With the growth of the Indian car market and export potential, MSI has been making constant efforts to increase its production capacity. The transaction is of crucial importance for these efforts to succeed and consolidate its vehicle production. Senior partner Vaibhav Kakkar and partner Snigdhaneel Satpathy led the firm’s team in the transaction, which is one of the most significant and high value transactions in the automobile sector in India.
Shardul Amarchand Mangaldas has advised the erstwhile Committee of Creditors of Srei Infrastructure Finance (SIF) and Srei Equipment Finance (SEF) and its lender members on the implementation of the resolution plan of the National Asset Reconstruction Company, under the Insolvency and Bankruptcy Code 2016. The total value of the approved resolution plan was Rs148.7 billion (US$1.8b). Partners Anoop Rawat, Saurav Panda and Rohan Jain led the firm’s team in the transaction, which was signed on December 8, 2023. AZB & Partners advised Mr Rajneesh Sharma, the RBI appointed erstwhile Administrator of SIF and SEF, while Cyril Amarchand Mangaldas advised the National Asset Reconstruction Company.
Shardul Amarchand Mangaldas has also advised GMR Airports and GMR Visakhapatnam International Airport (GVIA) on the investment by the National Investment and Infrastructure Fund in GVIA, an airport concession entity which develops, operates and maintains a greenfield international airport at Bhogapuram, Vizianagaram on a design, build, finance, operate and transfer (DBFOT) basis. Partners Jatin Aneja (projects and infrastructure national head), Kushal Sinha and Dhrupad Pant, supported by partner V R Neelakantan, led the firm’s team in the transaction, which was valued at approximately at Rs6.75 billion (US$81m) and was signed on December 21, 2023. Talwar Thakore & Associates (TT&A) advised the National Investment and Infrastructure Fund.
Moreover, Shardul Amarchand Mangaldas has advised Jindal Stainless on its acquisition of Rabirun Vinimay of the BRG Group. Jindal Stainless emerged as the successful bidder for the auction as a going concern, under Regulation 32A of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations 2016, via a Swiss Challenge auction process. The acquisition plan has been approved by NCLT. Partners Anoop Rawat and Saurav Panda led the firm’s team in the transaction. Khaitan & Co advised CA Kannan Tiruvengadam, as the liquidator for the deal.
S&R Associates has represented IRB Infrastructure Trust, an infrastructure investment trust sponsored by IRB Infrastructure Developers, on a Rs1.16 billion (US$14m) investment in Samakhiyali Tollway, the concessionaire for a toll-road project in the state of Gujarat. Partner Pratichi Mishra led the firm’s team in the transaction.
TT&A has advised the Asian Development Banks, as manager of ADB Ventures Investment Fund 1, on the acquisition, via a primary infusion, of a minority stake in Revfin Services. Partners Dushyant Bagga and Harshit Chandra led the firm’s team in the transaction.
TT&A has also advised the investor and debenture trustee on the issuance of senior, taxable, redeemable, listed and rated non-convertible debentures aggregating to Rs3.2 billion (US$38.5m) by Data Infrastructure Trust, an infrastructure investment trust under the SEBI (Infrastructure Investment Trusts) Regulations 2014. Partners Rituparno Bhattacharya and Nikhil Bahl led the firm’s team in the transaction, which is the first listed bond issuance by this InvIT.