Latest Deals from Law Firms and Legal Services Providers: 7th January 2026

Allen & Gledhill has advised Bayfront IABS VII on the issue of six classes of notes comprising of US$17 million Class X senior secured floating rate notes due 2048, US$476.8 million Class A senior secured floating rate notes due 2048, US$105.8 million Class B senior secured floating rate notes due 2048, US$42.3 million Class C senior secured floating rate notes due 2048, US$28.2 million Class D senior secured floating rate notes due 2048, and US$35.37 million subordinated notes due 2048. The notes are backed by cash flows from a portfolio of project and infrastructure loans and bonds in the Asia-Pacific, Middle East, Europe and Americas regions. The Class X Notes and Class A Notes are rated Aaa (sf) and AAA sf by Moody’s and Fitch, respectively. The Class B Notes and Class C Notes are rated Aa3 (sf) and Baa3 (sf), respectively, by Moody’s. The Class D Notes, as well as the Subordinated Notes, are unrated. The Senior Notes are listed in Singapore. This transaction features Clifford Capital Group’s (CCG) inaugural IABS issuance in Rule 144A/Reg S format, extending its reach to a broader global institutional investor base, as well as the inaugural issuance of Class X Notes, which was created in response to investor demand for short-term investments. This is also CCG’s largest issuance of infrastructure asset-backed securities to date, and its first to feature notes (Class X Notes and Class A Notes) with ratings from two rating agencies, Moody’s and Fitch. Bayfront VII is a wholly-owned and newly-incorporated distribution vehicle of Clifford Capital Asset Finance (CCAF), a subsidiary of Clifford Capital Holdings (CCH and, with its subsidiaries, CCG) that also includes the Asian Infrastructure Investment Bank as a shareholder. CCH is the sponsor, while Clifford Capital Markets, formerly known as BIM Asset Management, an affiliate of CCAF, is the collateral manager for the transaction. Partners Yeo Wico, Jeanne Ong, Andrew Chan, Jo Tay and Sunit Chhabra led the firm’s team advising Bayfront IABS VII and Clifford Capital Markets on Singapore law in the transaction.

Allen & Gledhill has also advised Clifford Capital Holdings (CCH) on the issue of US$500 million 3.97 percent notes due 2028. The issuance is CCH’s debut bond transaction, and the first unguaranteed issuance of bonds by the Clifford Capital Group. Partners Yeo Wico, Jeanne Ong and Sunit Chhabra led the firm’s team advising on Singapore law, while foreign law partner Maree Quinn led the firm’s team advising on English law in the transaction.

AZB & Partners has advised Goldcast Event Marketing Solutions India, the Indian subsidiary of Goldcast, on Cvent’s acquisition of Goldcast, including Goldcast Event Marketing Solutions India. Partners Srinath Dasari and Gautam Rego led the firm’s team in the transaction, which was completed on December 9, 2025.

AZB & Partners is also advising Fortis Healthcare on its Rs4.3 billion (US$48m) acquisition, through its subsidiary International Hospital, of 100 percent stake of TMI Healthcare. Partner Daksh Trivedi is leading the firm’s team in the transaction, which was signed on December 19, 2025 and is yet to be completed.

Moreover, AZB & Partners is advising Warburg Pincus on its US$1 billion acquisition of Acclime Holdings HK, including its Indian subsidiary Acclime India. Partners Anil Kasturi and Anisha Shridhar are leading the firm’s team in the transaction, which was signed on December 17, 2025 and is yet to be completed.

Clifford Chance has advised Shanghai Forest Cabin Cosmetics Group (Forest Cabin) on its IPO and listing in Hong Kong. Forest Cabin is a premium skincare brand in China with a focus on the anti-aging and firming skincare market. Well-known for its camellia-based products, it is the top domestic brand within China’s premium skincare market, by retail sales in 2024. China practice chair and partner Tim Wang, with partners Jean Thio and Virginia Lee and with support from Shanghai He Ping Law Firm capital markets head Lorna Lyu, led the firm’s team in the transaction.

CMS IndusLaw has advised Fireside Ventures on its investment in the Series A funding round of Sports For Life, a youth-focused, multi-sport development platform offering structured coaching programmes, competitive leagues and technology-enabled performance tracking to nurture grassroots sports talent across India. Partner Shantanu Singh led the firm’s team in the transaction.

JSA Advocates & Solicitors has advised Acclime Group and its shareholders on the India leg of the sale of the Acclime Group of companies to funds controlled by Warburg Pincus. Warburg Pincus has entered into a definitive agreement to invest in Acclime Group, a leading, technology-enabled corporate and business services provider operating across the Asia-Pacific region. The investment is aimed at supporting Acclime’s next phase of growth, including its international expansion strategy, further strengthening of its multi-market operating platform, and continued investments in technology and innovation. Partner Prakriti Jaiswal led the firm’s team in the transaction, which was signed on December 17, 2025, and is subject to customary regulatory approvals.

JSA Advocates & Solicitors has also advised Honeywell on completing the spin-off of its advanced materials business, currently operating as ‘Solstice Advanced Materials’. Solstice separated from Honeywell International, and began trading on the Nasdaq on October 30, 2025. The transaction involved complex restructuring advisory and documentation for the separation and sale of the advanced materials business division. This transaction forms part of Honeywell’s broader strategic separation of its automation and aerospace businesses. The planned separation, together with the spin-off of Solstice, will result in three industry-leading public companies, each with a distinct strategic focus and growth trajectory. Honeywell is an integrated operating company serving a diverse range of industries and geographies worldwide. Partner Sidharrth Shankar, supported by partners Dhruv Malhotra and Deepak Chowdhury, led the firm’s team in the transaction.

Moreover, JSA Advocates & Solicitors has advised MO Alternates on its acquisition, via combination of primary infusion and secondary purchase of shares, of a significant minority stake in medical diagnostic equipment manufacturer Sensa Core Medical Instrumentation. Headquartered in Hyderabad, Sensa Core designs, develops, manufactures and distributes diagnostic devices, and dominates the domestic market for electrolyte analysers. Sensa Core also plays in glucometers and haemoglobin meters, and recently entered the arterial blood gas analyser segment. Partner Vikram Raghani, supported by partners Akshay Bhargav, Preetha Soman and Probir Roy Chowdhury, led the firm’s team in the transaction.

Paul Hastings has advised SemiFive on its US$87.9 million global offering and listing in Korea. Samsung Securities and UBS acted as joint global coordinators and joint book-runners. The shares were priced at W24,000 (US$16.17) each, at the top end of the indicative range. A global AI and system semiconductor design company, SemiFive provides end-to-end engineering services that help customers develop and commercialize next-generation chips faster. Partner Iksoo Kim led the firm’s team in the transaction.

Rajah & Tann Singapore has acted for Koufu on its acquisition, via acquiring the shares of the ultimate holding company which indirectly owns the registered proprietor, of Piccadilly Galleria, the retail podium of the integrated development Piccadilly Grand, from vendors related to CDL and MCL Land. Senior partner Norman Ho (corporate real estate) and partner Hoon Chi Tern (M&A) led the firm’s team in the transaction.

Rajah & Tann Singapore is also acting for Qingdao Free Trade Development Investment Management on a US$200 million claim against the owners of MV “Inherit”. The claim arises from the vessel’s delivery of the cargo without original bills of lading and/or misappropriation of the cargo. Partners V Bala and Yu Zheng (shipping and international trade) and international counsel Li Wanchun (China-related investment dispute resolution) are leading the firm’s team in the matter.

Shardul Amarchand Mangaldas & Co has advised Pune IT City Metro Rail on negotiating and finalizing the operations and maintenance contract with Keolis, a global leader in urban mobility operations, for the Pune Metro Line III, which connects Hinjewadi to Civil Court (Shivajinagar). Developed under India’s New Metro Policy 2017 in PPP mode, Pune Metro Line III requires a specialised operator to manage pre-commissioning activities, including rail activation and testing, followed by full-scale operations post commissioning. Partner Deepto Roy led the firm’s team in the transaction.

Shardul Amarchand Mangaldas & Co has also advised Brookfield India Real Estate Trust on its acquisition of 100 percent of the issued share capital of Arliga Ecoworld Business Parks from a fund managed by Brookfield Asset Management, in a landmark transaction valued at approximately US$1.5 billion. The transaction is the largest acquisition involving an REIT in India, underscoring the continued appetite for high-quality commercial real estate assets and the growing maturity of India’s REIT market. Partners Jay Gandhi and Natalee Nanda, supported by partners Nikhil Naredi, Rohit Tiwari, Harman Singh Sandhu, Yaman Verma and Nitika Dwivedi, led the firm’s team in the transaction. The seller, a fund managed by Brookfield Asset Management, was advised by Khaitan & Co.

Moreover, Shardul Amarchand Mangaldas has acted as sole counsel to Samara Capital entity Sapphire Foods Mauritius, a promoter of Sapphire Foods India (SFI), on the merger of SFI with Devyani International, as well as on the sale of Samara’s 18.5 percent shareholding in SFI. The firm also acted as sole counsel to Sapphire Foods India on its merger with Devyani. Both listed in India’s stock exchanges, SFI and Devyani operate KFC and Pizza Hut restaurants in India (and select overseas markets) under franchise from Yum! Brands, and are the exclusive franchisees in India. The transaction marks a significant consolidation of Yum! Brands’ India business under a single listed entity, with Devyani International emerging as the sole franchisee in India. The transaction also involved a secondary sale of an 18.5 percent shareholding in SFI by Samara to Arctic International, an entity associated with Devyani’s promoter group, which may assign the agreement to a mutually agreed financial investor. Partner Jay Gandhi, supported by partners Yogesh Chande, Harman Singh Sandhu, Nitika Dwivedi, Anirudh Das, Veena Sivaramakrishnan, Shreya Jain, Anirban Bhattacharya and Ambarish, led the firm’s team in the transaction.

Simpson Thacher is representing KKR on a joint venture with PAG to acquire 100 percent of the shares of Sapporo Real Estate from Sapporo Holdings. Sapporo Real Estate owns, operates and develops a diverse portfolio of commercial, office, hotel and residential assets primarily located in Tokyo and Sapporo, Japan. The acquisition will close in stages over three years, with the acquisition of the first tranche, representing a 51 percent stake, expected to close on June 1, 2026. Partners Jonathan Hwang (Hong Kong), Jonathan Stradling (M&A), Étienne Renaudeau (London-antitrust) and Jacob Millikin (New York-funds) led the firm’s team in the transaction.

Simpson Thacher & Bartlett has also represented Kohlberg Kravis Roberts & Co (KKR), as sponsor of LOGISTEED Holdings, on its sale of a 19.9 percent stake in LOGISTEED to Japan Post. The deal closed on December 23, 2025, and was valued at approximately ¥142.3 billion (US$909m). Through its subsidiaries, LOGISTEED provides comprehensive logistics services. Japan Post provides postal operations and logistics business services. The transaction marks a significant step in strengthening strategic collaboration between the two companies in domestic and international logistics. Partners Noritaka Kumamoto (Tokyo-M&A), Jonathan Stradling (Tokyo-M&A), Makiko Harunari (Hong Kong-credit) and Étienne Renaudeau (London/Brussels-antitrust) led the firm’s team in the transaction.

Trilegal has advised the StepStone group and the investor selling shareholders, Goodwater Capital entities and Duke University, on Zepto’s proposed IPO, comprising of a fresh issue and an offer for sale of equity shares. Zepto filed its pre-filed draft red herring prospectus through the confidential filing route with the SEBI. Partner Richa Choudhary, supported by partners Yogesh Singh and Rishi Jain, led the firm’s team in the transaction.

TT&A is advising JM Financial, Avendus Capital, Motilal Oswal Investment Advisors and Nomura Financial Advisory and Securities (India), as the book-running lead managers, on Symbiotec Pharmalab’s Rs21.8 billion (US$242m) IPO, comprising a fresh issue of Rs1.5 billion (US$16.6m) and an offer for sale of Rs20.3 billion (US$225.2m) by certain existing shareholders of the company. Partner Abhinav Kumar led the firm’s team in the transaction. Khaitan & Co advised Symbiotec Pharmalab.