Allen & Gledhill has advised TKL & Family on its S$632.4 million (US$466m) pre-conditional voluntary general offer to acquire all the issued ordinary shares, excluding treasury shares, in the capital of Roxy-Pacific Holdings, other than those shares already owned, controlled or agreed to be acquired by TKL. The offer was made for and on behalf of TKL by Oversea-Chinese Banking Corporation. Partners Christopher Ong and Ong Kangxin led the firm’s team in the transaction.

Allen & Gledhill has also acted as transaction counsel to Myanmar investors Win Myint Mo Industries and EAP Global Mining on their US$30 million acquisition of a 51 percent stake in Myanmar Metals (MYM). The investors entered into two agreements with MYM in August 2021 on the Bawdwin zinc-lead-silver-copper mine joint venture formed with MYM in 2018. The investors, who already own the remaining 49 percent interest in the project, will take over all of MYM’s interests in the project for US$30 million. Australia-listed Myanmar Metals is seeking shareholders’ approval for the transaction. The firm advised the investors in establishing the joint venture with MYM, and on their joint venture with a new participant in the project. Myanmar director Oh Hsiu-Hau led the firm’s team in the transaction.

AZB & Partners is advising Thomas H Lee Partners on the Rs4.5 billion (US$60.6m) acquisition by its affiliate, Gamma Buyer, of Odessa Technologies, including its Indian subsidiary Odessa Solutions India. Partner Ashwath Rau is leading the firm’s team in the transaction, which was signed on September 2, 2021 and is yet to be completed.

AZB & Partners has also advised KKR Mauritius PE Investments II on its more than US$5 million sale of equity stake held in Coffee Day Enterprises, a company engaged in the hospitality industry and conducts various other businesses through its subsidiaries, including operating a chain of coffee shops under the brand “Café Coffee Day”. Partners Darshika Kothari and Roxanne Anderson led the firm’s team in the transaction, which was signed on July 30, 2021 and was completed on August 31, 2021.

Clifford Chance has advised the lenders to a consortium led by Morrison & Co on the acquisition financing of a 49 percent stake in Telstra’s InfraCo Towers business. The consortium, which comprises Future Fund, Commonwealth Superannuation and Sunsuper, obtained financing commitments from Barclays, Commonwealth Bank of Australia and National Australia Bank to support its successful bid for the minority stake in the business. Telstra’s InfraCo Towers business, which has been rebranded to Amplitel, owns over 8,000 communications towers across Australia. Telstra will use the proceeds from the investment, which values the business at A$5.9 billion (US$4.27b), for investment in mobile connectivity in regional Australia, in addition to returning proceeds to Telstra’s shareholders. Australian managing partner Richard Gordon, with partners Chad Bochan and Nadia Kalic, led the firm’s team in the transaction.

Davis Polk has advised the joint book-running managers on Sea’s concurrent SEC-registered offerings of US$2.875 billion aggregate principal amount of its 0.25 percent convertible senior notes due 2026, and of 12.65 million American depositary shares, at a price to the public of US$318.00 per ADS. Sea is a leading global consumer internet company founded in Singapore in 2009. Its mission is to improve the lives of consumers and small businesses with technology. Sea operates three core businesses across digital entertainment, e-commerce, and digital payments and financial services, known as Garena, Shopee and SeaMoney, respectively. Garena is a leading global online games developer and publisher. Shopee is the largest pan-regional e-commerce platform in Southeast Asia and Taiwan. SeaMoney is a leading digital payments and financial services provider in Southeast Asia. Partner James Lin, supported by partner Yan Zhang, led the firm’s team in the transaction.

Davis Polk has also advised the joint book-runners and lead managers on Mizuho Financial Group’s (MFG) SEC-registered takedown offering of subordinated notes, which consisted of US$1 billion aggregate principal amount of 2.564 percent subordinated notes due 2031. The notes are structured to qualify as Tier II capital, under the applicable Japanese banking regulations, and as total loss-absorbing capacity (TLAC), under the Japanese TLAC regulations. Listed in Singapore, the notes are MFG’s first SEC-registered Tier II notes issuance. MFG is a Japanese bank holding company that is the ultimate parent company of the Mizuho Group, one of the largest financial institution groups in the world. Partner Jon Gray led the firm’s team in the transaction.

J Sagar Associates has represented Tata Power Renewable Energy (TPRE) before the Appellate Tribunal for Electricity (APTEL) on challenging the Maharashtra ERC’s order, denying Change in Law compensation to TPRE, as the project developer, on account of an increase in rate of GST on EPC contracts for setting up solar power plants in India. In its decision dated September 20, 2021, APTEL set-aside the Maharashtra ERC’s order and directed the grant of restitutory relief to TPRE, along with carrying cost. Partners Abhishek Munot and Kunal Kaul led the firm’s team representing the client.

J Sagar Associates has also acted for the Nayar Family Office, the family office of KKR chairman Mr Sanjay Nayar and Nykaa founder and CEO Mrs Falguni Nayar, on its investment in Onesto Labs, the parent entity for direct-to-consumer personal care brands “Bare Anatomy” and “Chemist at Play”. Priyanka Murali and Namrata Nambiar led the firm’s team in the transaction.

Maples and Calder has acted as BVI counsel to Chinalco Capital Holdings, an indirect wholly-owned subsidiary of Hong Kong-listed Aluminium Corporation of China (Chinalco), on its issue of US$800 million 2.125 percent guaranteed bonds due 2026, guaranteed by Chinalco. The bonds are listed in Hong Kong, via debt issues to professional investors. Chinalco is a leading company in China’s non-ferrous industry. Partner Lorraine Pao led the firm’s team in the transaction, while Clifford Chance acted as English counsel and Guantao Law Firm acted as Chinese counsel to the issuer and Aluminium Corporation of China. Linklaters acted as English counsel to the managers and the trustee, while JunHe acted as Chinese counsel of the managers.

Maples and Calder has also acted as BVI counsel to SFG International Holdings on its issuance of an aggregate of US$500 million 2.4 percent guaranteed bonds due 2026. The bonds are guaranteed by Shandong Finance Investment Group. Together with the issuer and the guarantor’s subsidiaries, the group is a key provincial financial service provider and state-owned capital investment and operation entity in Shandong Province, China, and primarily engages in fund investment, infrastructure investment, equity investment and financial leasing. The bonds are listed in Hong Kong. Partner Juno Huang led the firm’s team in the transaction. Fangda Partners advised the issuer and Shandong Finance Investment Group on English and Hong Kong laws, while Tahota (Jinan) Law Firm advised on Chinese law. Herbert Smith Freehills and Jingtian & Gongcheng advised the managers on English law and Chinese law, respectively.

Phoenix Legal has advised TARC, a public listed company and one of the leading real estate developers in New Delhi and NCR, on the sale of certain of its warehousing assets, aggregating to around 36 acres, situated in Delhi, to a fund of Blackstone. Co-founding partner Saket Shukla led the firm’s team in the transaction, which was valued at Rs2.95 billion (US$39.7m).

Rajah & Tann Singapore, member firm of Rajah & Tann Asia, acted for AEM Holdings Ltd. in its S$103.1 million placement of shares to Venezio Investments Pte. Ltd., a wholly-owned subsidiary of Temasek Holdings (Private) Limited. Partners Raymond Tong, Cynthia Goh and Cheryl Tay led the transaction.

Rajah & Tann Singapore, member firm of Rajah & Tann Asia, is acting for Hong Leong Asia Investments Pte. Ltd., a wholly-owned subsidiary of Hong Leong Asia Ltd, in its S$45.9 million subscription of shares in BRC Asia Limited and its S$22.2 million acquisition of 6.16% shares in BRC Asia Limited. Partner Cynthia Goh is leading both transactions, with Partner Kala Anandarajah advising on the competition aspects.

Shook Lin & Bok LLP has advised DBS Bank Ltd. and United Overseas Bank Limited, as the joint lead managers and bookrunners, on the issue of S$250 million 1.49 per cent. notes due 2028 by Changi Airport Group (Singapore) Pte. Ltd. under its S$2 billion Multicurrency Medium Term Note Programme. Partners Marilyn See and Lian Shueh Min led the firm’s team in the transaction.

Shook Lin & Bok LLP has also advised CIMB Bank Berhad, Singapore Branch and The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch, as the joint lead managers and bookrunners, on the issue of S$200 million 3.50 per cent. notes due 2026 by OUE Treasury Pte. Ltd. under its S$3 billion Multicurrency Debt Issuance Programme, which is unconditionally and irrevocably guaranteed by OUE Limited. Partners Marilyn See and Lian Shueh Min led the firm’s team in the transaction.

WongPartnership has acted for the Singapore Medical Council (SMC) on the disciplinary inquiry against Dr Pang Ah San, and on the appeal to the Court of Three Judges, where Dr Pang was found guilty of improper conduct, bringing disrepute to the profession for sending derogatory emails attacking the integrity of SMC and its disciplinary process to numerous recipients. Partners Chang Man Phing and Alvin Lim led the firm’s team in the transaction.

WongPartnership has also acted for Go-Ventures, as lead investor, on the US$10 million Series A funding round of KitaBeli. Partner Kyle Lee led the firm’s team in the transaction, together with partner Kylie Peh.

Allen & Gledhill has advised DBS Group Holdings on the issue of US$800 million 1.194 percent notes due 2027, under its US$30 billion global medium term note program. DBS Bank was appointed sole global coordinator for the notes. Partner Glenn Foo led the firm’s team in the transaction.

Allen & Gledhill has also acted as transaction counsel to venture capital firms Wavemaker Pacific 3 and Defy Partners II on leading a US$30 million Series A funding round in Bazaar, a Pakistan-based B2B e-commerce operator of Pakistan’s leading online market place that connects retailers directly with wholesalers and manufacturers. Bazaar will use the financing to expand into more cities across Pakistan, and broaden its product and financial services offerings. Nicholas Soh led the firm’s team in the transaction, which is one of Pakistan’s largest Series A funding round.

AZB & Partners has advised The Hongkong and Shanghai Banking Corporation and Axis Bank Singapore Branch, as the dealers, on the update of the US$5 billion global medium term note program by Axis Bank. Partners Varoon Chandra, Anand Shah and Hufriz Wadia led the firm’s team in the transaction, which was completed on August 19, 2021.

AZB & Partners has also advised Schott, the existing 50:50 joint venture partner in Schott Kaisa, on the acquisition of 50 percent stake by Serum Institute of India in Schott Kaisa from Karius Dadachanji and Shapoor Mistry, and the amendment of the existing shareholders agreement between Schott and the sellers. Partner Daksh Trivedi led the firm’s team in the transaction, which was completed on August 17, 2021.

Clifford Chance has advised OCP Asia on a syndicated A$190 million (US$137.5m) senior asset-based loan facility and a syndicated A$156.5 million (US$113.23m) subordinated term loan facility for National Group. OCP Asia has a proven track record of providing customized secured lending solutions for businesses across Australia and the Asia Pacific region. The refinancing came amid an increase in activities at National Group, an Australian group of companies from the mining, resource, transport and logistics industries, with a focus on heavy earthmoving equipment and end-to-end production mining services. Partners Mark Gillgren, Mark Currell and Scott Bache led the firm’s team in the transaction.

Clifford Chance has also advised China Three Gorges South Asia Investment (CSAIL), a subsidiary of China Three Gorges Corporation (CTG), on the financing for a CSAIL-led consortium’s acquisition of Dubai-based wind and solar developer Alcazar Energy Partners (AEP) from a group of funds linked to Abu Dhabi’s Mubadala Investment, Dubai-based BluStone Management and the World Bank’s International Finance Corporation. AEP’s portfolio includes five solar and two wind projects across Jordan and Egypt, with a total generation capacity of 411 MW. CTG is China’s largest clean energy group. Through this transaction, CTG further expands its global footprint on renewable energy to the Middle East and North Africa region. Partner Vicky Ma led the firm’s team in the transaction.

Davis Polk has advised the initial purchasers on a Regulation S offering by Hong Kong-listed Zensun Enterprises of US$57.58 million 12.5 percent senior notes due 2023, guaranteed by Zensun Group, as the parent guarantor, and certain subsidiary guarantors. Concurrently with the notes offering, the firm also advised the deal managers on the offer to exchange outstanding 12.8 percent senior notes due 2021 of Zensun Enterprises for an additional issuance of US$142.42 million 12.5 percent senior notes due 2023, guaranteed by Zensun Group, as the parent guarantor, and certain subsidiary guarantors. Zensun Group is a developer of a range of residential properties that cater to the various demands and preferences of middle to upper-middle class customers in Zhengzhou and selected cities. Partners Gerhard Radtke and Yang Chu led the firm’s team in the transaction.

Davis Polk has also advised the initial purchasers on a Regulation S offering by Zhenro Properties of its US$250 million 6.5 percent senior notes due 2022. Hong Kong-listed Zhenro Properties is a large comprehensive property developer in China focusing on the development of residential properties, and the development, operation and management of commercial and mixed-use properties. Hong Kong partners Gerhard Radtke and Xuelin (Steve) Wang led the firm’s team in the transaction.

Goodwin is advising Tiancheng International Investment on its proposed sale for €1.1 billion (US$1.3b) of Tiancheng Pharmaceutical Holding to Grifols. Tiancheng Pharmaceutical is a German subsidiary of Hong Kong-based Tiancheng International Investment, and the owner of 89.88 percent of Biotest ordinary shares and 1.08 percent of Biotest preferred shares. Biotest is a Germany-listed healthcare company specialising in innovative hematology and clinical immunology. The transaction values Biotest at approximately €1.6 billion (US$1.87b). Grifols is a global healthcare leader in plasma-derived medicines, transfusion diagnostics and hospital pharmacy solutions. Parallel to the Tiancheng acquisition, it has launched a voluntary public takeover for all outstanding shares of Biotest. Partners Gregor Klenk and Carl Bradshaw led the firm’s team in the transaction.

J Sagar Associates has advised Microsoft on its US$5 million investment, via subscription to equity shares and compulsorily convertible cumulative preference shares, in Oravel Stays, operator of budget hospitality chain under the brand name OYO. Partner Lalit Kumar led the firm’s team in the transaction.

J Sagar Associates has also advised Cars24, India’s leading e-commerce platform for pre-owned vehicles, on its US$340 million Series F equity round. The Series F equity round was led by DST Global, Falcon Edge and SoftBank Vision Fund 2. The round also saw participation by Tencent and existing investors Moore Strategic Ventures and Exor Seeds. Alongside equity, Cars24 also raised a debt of US$110 million. Post this fund raise, Cars24 has nearly doubled its valuation to US$1.84 billion. Partner Trisheet Chatterjee, supported by partners Zain Pandit, Sarvesh Kumar Saluja, Vaibhav Choukse and Minu Dwivedi, led the firm’s team in the transaction.

Kudun and Partners has acted as lead counsel to BG Container Glass (BGC) on its β1.26 billion (US$37.7m) acquisition from Eternity Power (formerly known as Eastern Power Group) of 100 percent shares in Solar Power Management (Thailand). The largest manufacturer of glass containers listed in Thailand, BGC operates five manufacturing glass packaging containers in Thailand. Solar Power Management holds 67 percent shareholding in Phu Khanh Solar Power, which operates two solar power projects in Phu Yen Province of Vietnam with a total installed capacity of 99.21 MW. Partners Kudun Sukhumananda, Kongkoch Yongsavasdikul and Chai Lertvittayachaikul led the firm’s team in the transaction.

Kudun and Partners has also represented nForce Secure, operator of wholesale computer peripheral equipment and software, on its IPO of its shares and the listing of its shares on the Market for Alternative Investment (mai), with a trading value of β443.8 million (US$13.3m). Partner Kudun Sukhumananda led the firm’s team in the transaction.

Maples and Calder has acted as Cayman Islands counsel to MicroPort Scientific Corporation on its issue of US$700 million principal amount of zero coupon convertible bonds due 2026. At the option of the holder, the bonds will be convertible, starting July 22, 2021 until June 1, 2026, into fully paid ordinary shares with par value of US$0.00001 each in the issued and paid up capital of the issuer, at an initial conversion price of HK$92.8163 (US$11.92) per share. MicroPort is a leading medical device group focusing on developing, manufacturing and marketing high-end medical devices globally. Partner Lorraine Pao led the firm’s team in the transaction, while Sidley Austin acted as English and Hong Kong laws counsel, and Global Law Office acted as Chinese law counsel. Clifford Chance acted as English law counsel, while Commerce & Finance Law Offices acted as Chinese law counsel to the joint lead managers.

Maples and Calder has also acted as BVI counsel to CSCIF Asia on the update of its US$3 billion medium term note program, unconditionally and irrevocably guaranteed by CSC Financial, and on its issue of US$500 million 1.125 percent guaranteed notes due 2024 under the program. The program and the notes are listed in Hong Kong. Together with CSCIF Asia and CSC Financial’s subsidiaries, the CSC Group is a leading large full-service investment bank in China. Partner Karen Zhang Pallaras led the firm’s team in the transaction. CSCIF Asia and CSC Financial were advised by Davis Polk & Wardwell on English law and by Tian Yuan Law Firm on Chinese law. Linklaters and Guantao Law Firm acted as English law counsel and Chinese law counsel, respectively, for the dealers and managers.

Shearman & Sterling has represented JP Morgan, as the initial purchaser, on KWG Group Holdings’ tap offering of US$158 million 7.4 percent senior notes due 2024. The firm also represented China CITIC Bank International, Guotai Junan International, Haitong International, HSBC, Standard Chartered Bank, CMBC Capital, Credit Suisse, JP Morgan Securities, The Bank of East Asia and UBS, as the initial purchasers, on KWG Group’s tap offering of US$100 million 5.95 percent senior notes due 2025. Hong Kong capital markets partner Alan Yeung led the firm’s team in the transaction.

WongPartnership has also acted for Keppel on the establishment of US$1 billion Euro-Commercial Paper Program first digitalized for issuances under the FIX Marketplace. DBS is the sole arranger and dealer of the program. Partners Hui Choon Yuen and Trevor Chuan led the firm’s team in the transaction.

Baker McKenzie has advised Swedish E-sports company Ninjas in Pyjamas (NIP) on its merger with Chinese E-sports group ESV5 – the first M&A in the expanding world of E-sports.

The merger establishes NIP Group, a organization that will field teams in all the major E-sports titles. NIP chief executive Hicham Chahine said the deal allows the team to take a “gigantic step” towards becoming truly global.

The Baker McKenzie team was led by partner Tracy Wut (M&A, Hong Kong), with support from partners Joakim Falkner (capital markets, Stockholm), Anna Orlander (M&A, Stockholm), Linnea Back (tax, Stockholm), Adam Farlow (capital markets, London), associate Erik Holmgren in Stockhom and counsel Lei Ye of FenXun Partners in Shanghai.

Chahine, who will adopt a co-CEO position, said NIP Group will continue to look for growth opportunities both organically and with acquisitions, as well as equity capital raising opportunities.

“We came across Victory Five more than a year ago. Initial meetings were positive, and we soon came to realize that both parties’ views on the industry were strongly aligned and that there was serious potential for something much bigger,” he said.

Formed in the year 2000, NIP is best known for its Counter-Strike teams, and it has fielded rosters across multiple titles including VALORANT, Rainbow Six: Siege and FIFA.

ESV5 is a joint venture by Chinese E-sports programs eStar Gaming and Victory Five and is backed by Chinese video live streaming service DouYu and Chinese anti-virus firm Qihoo 360.

Mario Ho (son of the late Macau casino magnate Stanley Ho) is an investor and chief executive of ESV5 Group and will become the co-CEO of NIP Group.

After the merger, NIP will re-enter the competitive League of Legends (LoL) play in 2022 with Victory Five — owned by the ESV5 group — to be rebranded as Ninjas in Pyjamas and continue competing in the League of Legends Pro League (LPL), the premiere Chinese League of Legends competitions.

If the merged entity were to be listed on NASDAQ it would be the first publicly-traded E-sports team in the US with a combined revenue of more than US$61.70 million for 2021.

China is the world’s largest gaming market and some of the world’s top video-games companies such as Tencent and NetEase are based there.

China had 388 million E-sports viewers in 2020, up 21.3% a year prior, according to video games consultancy Niko Partners.

Allen & Gledhill has advised DBS Bank, The Hongkong and Shanghai Banking Corporation Singapore Branch, Oversea-Chinese Banking Corporation and United Overseas Bank, as the joint lead managers, on the issue of S$250 million (US$186m) 5.375 percent subordinated perpetual securities by HSBC Institutional Trust Services (Singapore), as trustee of AIMS APAC REIT. Partners Margaret Chin, Fabian Tan and Sunit Chhabra led the firm’s team in the transaction.

Allen & Gledhill (Vietnam) has acted as transaction counsel to SP Group company SPI Energy Investments on a joint venture with BCG Energy to invest in rooftop solar and other renewable energy projects in Vietnam. BCG Energy is a wholly-owned subsidiary of Bamboo Capital Group. The partnership is a key milestone for SP Group to grow its sustainability footprint in Vietnam. The JV will support Vietnam’s green ambitions to become a carbon-neutral economy and increase the ratio of electricity produced from renewable sources to 30 percent by 2030. The JV sets out multiple phases of developments, and an initial target of 500 MW of rooftop projects by 2025. As part of its first rooftop solar projects, the JV will work with Vinamilk, Vietnam’s largest dairy production company, to install a combined 25 MW of rooftop solar power across nine factories and seven farms. Managing partner Oh Hsiu-Hau and partners Tran Thi Phuong Thao and Jonathan Lin led the firm’s team in the transaction.

AZB & Partners is advising HIG Capital, acting through HIG Taurus EAL, HIG Capital Partners VI and HIG Taurus SG, on its acquisition from Take Solutions Global Holdings and Take India subsidiary Take Solutions of 75 percent of the total issued and paid up share capital of Ecron Acunova, which holds the Indian leg of the CRO business of Take India, and Navitas Life Sciences SG, which holds the offshore leg of the CRO business of Take India. Partners Ashwath Rau and Atreya Bhattacharya are leading the firm’s team in the transaction, which was valued at Rs7.52 billion (US$102m) and is yet to be completed.

AZB & Partners has also advised Warburg Pincus, acting thru its affiliate Yellow Bell Investment, on its sale to Augment India I Holdings of more than 30 percent stake in Clean Max Enviro Energy Solutions. Partners Anil Kasturi and Ashish Pareek led the firm’s team in the transaction, which was valued at Rs16.5 billion (US$224m) and was completed on August 20, 2021.

Clifford Chance has advised China Merchants Bank, through its Luxembourg branch, on the issuance of a US$600 million landmark dual-tranche sustainability and carbon neutrality bonds, the first such bond from a Chinese issuer to be listed in Luxembourg. The offering was also China Merchants Bank’s first carbon neutrality-themed green bond to help drive China’s emission and carbon neutrality commitments. Equally split at US$300 million each, the green bonds included a two-year floating-rate sustainability bond linked to the secured overnight finance rate. The second tranche was a five-year fixed rate carbon neutrality themed green notes due 2026. Credit Agricole CIB, JP Morgan, Citigroup, CMB International, CMB Wing Lung Bank and Agricultural Bank of China (Hong Kong branch) acted as underwriters. Partner Angela Chan led the firm’s team in the transaction.

Clifford Chance has also advised JOLT Charge Holding, an electric vehicle (EV) charging network provider in Australia, on a fundraising transaction by BlackRock Real Assets, the real assets arm of global investment firm BlackRock. Post transaction, BlackRock Real Assets will hold a significant minority stake in JOLT, its first investment in the EV sector in the Asia Pacific Region. JOLT contracts with councils and electricity network providers to install and operate EV chargers on urban infrastructure, such as substations. This year, JOLT announced a long-term contract with Ausgrid to transform existing street-side kiosks into EV charging stations, which the firm also advised on. The funding will assist JOLT to finance the rollout of 1,000 EV charging stations across Adelaide and Sydney, and targeting major cities, including Brisbane, Melbourne and Perth. Following this roll-out, JOLT will become the largest EV charging network provider in Australia, and has plans to build 5,000 EV charging stations across Australia by 2030. Partner Reuben van Werkum led the firm’s team in the transaction.

Davis Polk has advised the underwriter on Helens International Holdings’ IPO and listing in Hong Kong, and the Regulation S international offering. The net proceeds from the offering amounted to approximately HK$2.51 billion (US$322.7m), prior to the exercise of the over-allotment option. Helens International operates China’s largest bar chain network under the brand “Helen’s”. In 2018, 2019 and 2020 and the first quarter of 2021, Helens is the market leader in China’s bar industry, as measured by the number of bars. Partners Yang Chu and Li He led the firm’s team in the transaction.

K&L Gates has advised Hong Kong-listed BC Technology Group on its investment in Philippine Digital Asset Exchange (PDAX). BC Technology is Asia’s leading listed digital asset and fintech company, and parent company of the SFC-licensed OSL digital asset platform. OSL provides digital asset prime brokerage, exchange, custody and software-as-a-service for institutions and professional investors. Philippines-based PDAX is a leading digital currency exchange platform that enables trading and settlement of digital assets against the Philippine Peso. Hong Kong corporate partner William Ho and K&L Gates Straits Law Singapore partner Christopher Tan led the firms’ team in the transaction.

Maples and Calder has acted as BVI counsel to Universe Trek on its issue of an aggregate of US$250 million zero coupon guaranteed convertible bonds due 2026, which closed on June 15, 2021. Listed in Hong Kong, the bonds are convertible into shares of, and guaranteed by, Far East Horizon. Partner Derrick Kan led the firm’s team in the transaction. Universe Trek and Far East Horizon were advised by Baker & McKenzie on English law. The managers, namely CICC, CMB International, UBS and DBS, were advised by Clifford Chance on English law and by Tian Yuan Law Firm on Chinese law.

Maples and Calder has also acted as Cayman Islands counsel to Towngas China on the establishment of US$2 billion medium term note programme by its direct wholly-owned subsidiary TCCL (Finance). Guaranteed by Towngas China, the programme is listed in Hong Kong via debt issues to professional investors. Partner Lorraine Pao led the firm’s team in the transaction, while Linklaters advised on Hong Kong law. Allen & Overy and Commerce & Finance Law Offices advised the dealers on English law and Chinese law, respectively.

Paul Hastings has represented Contemporary Ruiding Development (CRD) and Contemporary Amperex Technology (CAT) on CAT’s issuance of US$500 million 1.5 percent bonds due 2026, unconditionally and irrevocably guaranteed by (CAT). The Hongkong and Shanghai Banking Corporation, Merrill Lynch (Asia Pacific) and ICBC International Securities acted as the joint global coordinators, joint book-runners and joint lead managers. Barclays Bank, BNP Paribas, China CITIC Bank International, China Minsheng Banking Corp Hong Kong Branch, Citigroup Global Markets and CMB International Capital acted as the joint book-runners and joint lead managers. Contemporary Ruiding Development is an indirect wholly-owned subsidiary of CAT, a leading manufacturer of lithium-ion battery based in Fujian, China. Proceeds from the issuance are intended to be used for general corporate purposes. Global partner and chair of Greater China Raymond Li and corporate partner James Ma led the firm’s team in the transaction.

Rajah & Tann Singapore, member firm of Rajah & Tann Asia, has advised Doctor Anywhere, a regional tech-led healthcare company, on its US$65.7 million Series C fundraising round led by Asia Partners, with investors including Novo Holdings, Philips, OSK-SBI Venture Partners and other existing investors. Partners Tracy Ang and Lee Jin Rui led the firm’s team in the transaction.

Rajah & Tann Singapore, member firm of Rajah & Tann Asia, is also acting for XM Studios on its S$4.5 million (US$3.35m) tokenised offering of six percent exchangeable notes issued by its parent company, XM Holdco, on ADDX, a platform to enable private market investing in unicorns, pre-IPO companies, hedge funds and other opportunities. Partners Danny Lim and Tan Mui Hui are leading firm’s team in the transaction.

WongPartnership has acted for DBS and OCBC on the grant of the US$250 million sustainability-linked loan facility to Manulife US Real Estate Investment Trust (Manulife US REIT). This is Manulife US REIT’s first sustainability-linked loan, which will be used for its general corporate and working capital purposes, including those in connection with its green buildings in the US. Partners Susan Wong and Bernadette Tan led the firm’s team in the transaction.

WongPartnership has also acted for Lendlease, as joint venture partner of Certis Cisco, on the establishment of the Certis & Lendlease Property Trust, which entered into a sale and purchase agreement to acquire Certis Cisco Centre for S$150 million (US$112m). Partners Low Kah Keong and Teo Hsiao-Huey led the firm’s team in the transaction, together with partner Angela Lim.

Allen & Gledhill has advised Oversea-Chinese Banking Corporation, acting through its Sydney branch, on the issue of A$500 million (US$370m) floating rate green notes due 2024, under its US$30 billion global medium term note programme. Partner Glenn Foo led the firm’s team in the transaction.

Allen & Gledhill has also acted as transaction counsel to venture capital firm SoftBank Ventures Asia on its participation in a US$20 million Series A round investment, led by Cambridge Capital, in Parcel Perform. Parcel Perform is a Singapore-based start-up that offers leading carrier-independent parcel tracking service for merchants worldwide, connecting them with over 600 logistics carriers, and providing them with comprehensive, standardised delivery information and streamlined logistics data. Nicholas Soh led the firm’s team in the transaction.

AZB & Partners is advising HDFC Life Insurance on its Rs66.8 billion (US$910m) acquisition of 100 percent of the share capital of Exide Life Insurance from Exide Industries. Partners Ashwath Rau, Kashish Bhatia and Arvind Ramesh are leading the firm’s team in the transaction, which was signed on September 3, 2021 and is yet to be completed.

AZB & Partners has also advised Avendus PE Investment Advisors, acting through its vertical Future Leaders Fund, on the acquisition by various reputed investors of shareholding in the Avendus Future Leaders Fund II, a category II AIF set up by Avendus PE Investment Advisors with an investment focus on digital, consumption and financial services segments. Partners Ashwath Rau and Pallabi Ghosal led the firm’s team in the transaction, which was valued at Rs5.8 billion (US$79m) and was completed on August 19, 2021.

Clifford Chance has advised Sinochem Group and China National Chemical Corporation (ChemChina) on the multi-jurisdictional merger control and foreign investment control filings for the two groups’ merger. The merger of the two leading players in the Chinese chemical sector represents a combined turnover of over Rmb1 trillion (US$154.7b), making the merged new entity Sinochem Holdings a first-class chemical company consisting of eight strategic sectors, 16 publicly listed companies with operations across more than 150 countries around the world. The firm has also advised ChemChina and Sinochem on the multi-jurisdictional merger control and foreign investment control filings in relation to the agricultural restructuring between the agricultural businesses within ChemChina and Sinochem groups. Greater China antitrust practice head partner Yong Bai, supported by partners Marc Besen (Dusseldorf), Richard Blewett (Brussels), Dave Poddar (Sydney), Mark Currell (Sydney), Sharis Pozen (Washington), Timothy Cornell (Washington) and Torsten Syrbe (Moscow), led the firm’s team in the transaction.

Clifford Chance has also advised CVC Capital Partners on its strategic investment in Xi’an Yikang Pharmacy, a leading pharmaceutical retail chain in Northwest China with more than 1,600 pharmacies. Through the investment, CVC will help Yikang diversify its medicine categories, improve efficiency of distribution and sales, enhance digitalization, and continue to grow and scale the business. Yikang will use the capital from this investment to further ramp up investment in digitalization, and build a popular smart retail pharmacy brand. China co-managing partner Terence Foo, supported by partner Yong Bai, led the firm’s team in the transaction.

Davis Polk has advised New Lionbridge on its US$150 million Regulation S offering of 5.8 percent guaranteed senior notes due 2022. The notes are unconditionally and irrevocably guaranteed by Lionbridge Capital, with the benefit of a keepwell deed. Lionbridge Capital is a leading services platform for commercial vehicles in China. It is a platform that covers the full lifecycle of commercial vehicles, from primary sales and vehicle operations to vehicle support and used vehicle transactions. Partner Gerhard Radtke led the firm’s team in the transaction.

J Sagar Associates has advised B Capital on its Series C investment in Primestack, which operates and maintains cryptocurrency exchange in India under the brand name ‘CoinDCX’ (available on www.coindcx.com), through Primestack affiliate Neblio Technologies. The investment was part of Primestacks’s internal fund raise from its existing investors and certain new investors, which also saw participation from Polychain, Block.one, Coinbase Global and JCDP. The total amount raised by the company is approximately US$90 million, at a valuation of US$1.1 billion, becoming the first Indian cryptocurrency exchange to achieve unicorn status amid regulatory uncertainty over crypto assets and cryptocurrency exchanges in India. B Capital was one of the lead investors in the current financing round. Primestack intends to use the proceeds of the round to enlarge its footprint and products portfolio, among other purposes. Partner Manvinder Singh led the firm’s team in the transaction.

J Sagar Associates has also advised Le Travenues Technology (ixigo) on its acquisition of the business of Abhibus Services (India). The business comprises the operation of the website www.abhibus.com and certain apps for booking of bus, train, and hotel. The website operates an online marketplace for bus tickets, trains and hotel rooms in India. The transaction was an ‘acquihire’ with two stages to accommodate certain commercial considerations, which is uncommon in business acquisitions. The business transfer and ‘acquihire’, including transfer of registered trademarks and copyrights, had to be done in a very short period of time. Given the industry the target operates in, transfer of material contracts was a key issue which had to be dealt with carefully. Joint managing partner Vivek Chandy, supported by partner Archana Tewary, led the firm’s team in the transaction. K&S Partners, with a team led by partners Latha Nair and Ashish Kanta Singh, advised on the transfer of intellectual property.

Khaitan & Co has represented several home buyers who had booked their flats in the towers to be constructed by Supertech. In 2004, Supertech was allotted a plot of land to develop a group housing project, named Emerald Court in Sector 93A, Noida. The project development plan was revised several times, and the New Okhla Industrial Development Authority sanctioned Supertech at each instance. A petition was filed before the Court of Judicature at Allahabad, seeking demolition of the towers for violating several statutory provisions. On its judgment dated April 11, 2014, the Court ordered the demolition of the entire building and the refund of the amount to the flat buyers. Supertech appealed to the Supreme Court. Several home buyers, who had booked flats in the towers, petitioned the Supreme Court for refund of the booking amount. The Supreme Court, on an order dated February 20, 2018, directed Supertech to pay EMIs to the home- buyers, so that they do not get any notice from banks and financial institutions. Moreover, on an order dated July 30, 2018, the home buyers were granted liberty to approach the Supreme Court, in case of Supertech’s failure of compliance. On August 31, 2021, the Supreme Court passed a judgment in favour of the home buyers and, inter alia, directed the demolition of the towers and reimbursement of the amount paid by the home buyers, with 12 percent interest. Partners Ajay Bhargava and Vanita Bhargava represented the clients.

Khaitan & Co has also acted as Indian counsel for Dhunseri Poly Films and Dhunseri Ventures on an approximately €26 million (US$31m) ECA-backed secured financing extended by Oldenburgische Landesbank Aktiengesellschaft, guaranteed by the German ECA Euler Hermes. Dhunseri Poly Films had entered into a supply contract with Bruckner Maschinenbau & Co KG for engineering, manufacturing, supply of the machinery, engineering and further services for the production of BOPET films, and with Kampf Schneid of Germany on the supply of machinery for BOPET Film. The external commercial borrowing was availed to finance the import of various goods / project, in form of Euler Hermes-covered buyers’s credit, which will be utilised for setting up a Rs12.5 billion (US$170m) packaging poly film factory at Panagarh Industrial Park in Paschim Bardhaman District, West Bengal. Partner Devidas Banerji led the firm’s team in the transaction, which was announced on September 1, 2021. J Sagar Associates acted for Oldenburgische Landesbank Aktiengesellschaft, the lender.

Maples and Calder has acted as BVI counsel to Sino-Ocean Land Treasure IV on its issuance, via debt issues to professional investors, of US$320 million 2.7 percent guaranteed green notes due 2025, guaranteed by Sino-Ocean Group, and listed in Hong Kong. Partner Lorraine Pao led the firm’s team in the transaction, while Paul Hastings acted as English and Hong Kong law counsels, and Cathay Associates Kejie acted as Chinese law counsel. Linklaters acted as English law counsel to the joint lead managers and the trustee, while King & Wood Mallesons acted as Chinese law counsel for the joint lead managers.

Maples and Calder has also acted as BVI counsel to BOCOM International Blossom on the establishment of its US$500 million medium term note programme, unconditionally and irrevocably guaranteed by BOCOM International Holdings, and the issue of its US$500 million 1.75 percent guaranteed notes due 2026, under the programme. BOCOM International Holdings is a well-established and the only integrated platform for securities and related financial services of BOCOM, one of the state-owned joint stock commercial banks, in Hong Kong. The group’s business primarily comprises securities brokerage and margin financing; corporate finance and underwriting; asset management and advisory; and investment and loans. The programme and the notes are listed in Hong Kong. Partner Juno Huang led the firm’s team in the transaction. The issuer and guarantor were advised by Freshfields Bruckhaus Deringer on English and Hong Kong laws, and by DeHeng Law Offices on Chinese law. Allen & Overy advised the arrangers and the dealers on English and Hong Kong laws, while JunHe advised on Chinese law.

Paul Hastings has represented Hong Kong-listed GenScript Biotech and its indirect wholly-owned subsidiary Probio Technology on a Series A financing, with investment from private equity firm Hillhouse Capital Group. Hillhouse subscribed minority equity interest in Probio for US$150 million, with a warrant to purchase additional shares for US$125 million. GenScript is an industry-leading biotechnology company renowned for its proprietary gene synthesis technology and advanced know-hows in life-science research and application. Probio and its subsidiaries strive to help biopharmaceutical and biotech companies accelerate their development of therapeutic antibodies and gene/cell therapy products. Proceeds from the financing are intended to be used to support the operation of Probio’s main business and to build up its good manufacturing practice capacity, as well as to fund Probio’s research and development capabilities. Jia Yan, co-chair of mainland China offices, led the firm’s team in the transaction.

WongPartnership has acted for Samsung Ventures on its investment into Alodokter. Partner Kyle Lee led the firm’s team in the transaction.

WongPartnership has also acted for Ong Sek Chong & Sons, as the offeror, on Lian Beng’s mandatory conditional cash offer at S$0.50 (US$0.37) per share, following its acquisition of nearly 5.9 million shares. Partner Jason Chua led the firm’s team in the transaction.

Featured Deals:

Kudun and Partners has represented Nusasiri on issuing various debentures throughout 2020 in raising over β1 billion (US$31m) debentures across ten issuances. Partner Chai Lertvittayachaikul led the firm’s team in the transaction.

Kudun and Partners  has also represented Jetion Solar (Thailand), a large solar panel manufacturer with presence in China, Germany and Thailand, and backed by Chinese-state-owned company China National Building Materials Group, on an engineering, procurement and construction dispute by successfully claiming from its contractor the outstanding fees for the solar power plants construction fee of β788.7 million (US$24.4m).

Allen & Gledhill has advised GIC subsidiary Warrington Investment, as a holder of debentures issued by Eixo SP Concessionária de Rodovias on certain transactions contemplated under a R$3 billion (US$578.6m) financing agreement between Eixo SP and Banco Nacional De Desenvolvimento Econômico E Social (BNDES), with BNDES as lender. GIC also holds a 30 percent stake in Eixo SP, while the remaining 70 percent is held by Pátria Investments. Partner Bernie Lee led the firm’s team in the transaction, which is considered as the largest toll-road project finance in Brazil.

AZB & Partners has advised Lesjöfors on its acquisition of 88 percent stakeholding in Alcomex Holding, along with its subsidiaries, including its Indian subsidiary Alcomex Springs. Partner Percis Anklesaria led the firm’s team in the transaction, which was completed on July 28, 2021.

AZB & Partners is also advising the Asian Development Bank on its acquisition of privately-placed, unlisted, secured, interest-bearing, rupee-denominated non-convertible debentures of up to Rs400 million (US$5.5m) to be issued by Krsnaa Diagnostics for scaling up Krsnaa’s COVID-19 screening and detection capacity. Partners Gautam Saha and Ambarish Mohanty are leading the firm’s team in the transaction, which was signed on February 15, 2021 and is yet to be completed.

Baker & McKenzie has advised Mizuho Bank, Sumitomo Mitsui Banking Corporation and MUFG Bank, as mandated lead arrangers and senior lenders, on the financing of CVC’s acquisition of Shiseido’s personal care business. On February 3, 2021, Shiseido and CVC announced their agreement to transfer Shiseido’s global personal care business to a new company 65 percent owned by CVC and 35 percent owned by Shiseido. Tokyo partners Gavin Raftery and Shinichiro Kitamura, supported by partners Akiko Tsuji (Tokyo), Sally Hung (Hong Kong) and Kenneth Ching (Hong Kong), with Beijing partners Shirley Wang and Grace Chen from Baker McKenzie’s joint venture firm FenXun Partners, led the firm’s team in the transaction, which closed on July 1, 2021.

Clifford Chance has advised a syndicate of 12 lead managers on HDFC Bank’s US$1 billion inaugural offshore Additional Tier 1 (AT1) capital securities offering. The offering is the largest offshore AT1 issuance from India, the first AT1 issuance from an Indian bank sold into the US under the Rule 144A resale exemption, and reopens the international US-dollar AT1 market for the Indian banking sector. HDFC will use the proceeds from the issuance to enhance its capital structure and support its growth and expansion plans. Barclays, BoFA Securities, Citigroup, HSBC, JP Morgan, Standard Chartered Bank and Merrill Lynch were the joint global coordinators, joint book-runners and joint lead managers, while BNP Paribas, Emirates NBD Capital, Morgan Stanley, MUFG, Société Générale Corporate & Investment Banking and UBS were the joint book-runners and joint lead managers. The offering garnered a final order book of US$3.2 billion from 158 accounts. Singapore partner Gareth Deiner, supported by partner Johannes Juette, led the firm’s team in the transaction.

Gide has advised Stellantis, a multinational automaker formed by the merger between Fiat Chrysler Automobiles and Groupe PSA, on the establishment of Mobile Drive, a 50-50 joint venture in partnership with Foxconn to develop breakthrough smart cockpits solutions and personalized connected services. Mobile Drive brings together expertise in consumer innovations from the sustainable mobility and advanced electronics industries. It will accelerate go-to-market timelines for the most advanced smart cockpit solution for vehicles and connected-car technologies in the industry. Shanghai partner Fan Jiannian led the firm’s team in the transaction.

J Sagar Associates has advised HDFC Bank, India’s largest private sector bank, on its issue of US$1 billion 3.7 percent Additional Tier I Notes. The firm also facilitated the listing of the notes in the India International Exchange. The notes are also listed in the NSE IFSC. Partner Dina Wadia, supported by partners Uttara Kolhatkar and Kumarmanglam Vijay, led the firm’s team in the transaction.

J Sagar Associates has also advised Dormakaba India on the 100 percent acquisition of Solus Security Systems. A global leader in smart access and security solutions, Dormakaba group has operations in over 50 countries. A developer and manufacturer of high-quality security / access control solutions that protect and secure enterprises started in 2003, Solus has successfully combined strategic planning, people and technological expertise to develop and distribute access control, time and attendance, visitor management and vehicle access and parking. Dormakaba’s global outreach and industrial expertise, paired with Solus’ advanced technology, will introduce cost-effective and technologically advanced surveillance and security products in the Indian market and overseas. Partner Upendra Nath Sharma, supported by partner Pallavi Puri, led the firm’s team in the transaction.

King & Wood Mallesons has advised the arranger of a US$297 million limited recourse fixed rate notes issue backed by charter hire receivables from three container vessels flagged in Panama and Liberia ultimately owned by one of Asia’s leading leasing companies. The transaction took more than one year to complete, and involved eight jurisdictions, namely England, Hong Kong SAR, Mainland China, Switzerland, Cayman Islands, Guernsey, Panama and Liberia. The firm advised on the English, Hong Kong SAR and Mainland China aspects. Partner Paul McBride, supported by partners Eddie Hu, Stanley Zhou, Stella Wang and Angus Sip, led the firm’s team in the transaction, while partner Richard Mazzochi advised the trustee. Walkers acted as Cayman Islands and Guernsey counsel, Ince acted as England counsel, Hornung Avocats acted as Switzerland counsel, Arias B & Associates acted as Panama counsel and Steward & Kissel acted as Liberia counsel.

L&L Partners has advised ReNew Power on its Rs9.85 billion (US$135m) acquisition of Singoli-Bhatwari Hydroelectric Project, a 99MW commissioned hydro power project in Uttarakhand, which was developed, owned and operated by L&T Uttaranchal Hydropower, through 100 percent acquisition of the company from L&T Power Development and Larsen and Toubro. Partner Avirup Nag led the firm’s team in the transaction. L&T was represented by ELP.

Maples and Calder has acted as Cayman Islands counsel to Xiaomi on the issue by Xiaomi Best Time International of US$800 million 2.875 percent senior bonds due 2031, and US$400 million 4.1 percent senior green bonds due 2051, unconditionally and irrevocably guaranteed by Xiaomi. The bonds are listed in Hong Kong. Partner Everton Robertson led the firm’s team in the transaction, while Skadden, Arps, Slate, Meagher & Flom acted as US counsel to the issuer and guarantor. Linklaters acted as US counsel to the initial purchasers, namely Goldman Sachs (Asia), Credit Suisse (Hong Kong), JP Morgan Securities, China International Capital Corporation Hong Kong Securities, CLSA, Morgan Stanley & Co International, Citigroup Global Markets, The Hongkong and Shanghai Banking Corporation, Bank of China, China Construction Bank (Asia), ICBC International Securities, AMTD Global Markets and BOCOM International Securities.

Maples and Calder has also acted as Cayman Islands counsel to China Modern Dairy Holdings on its issuance, via debt issues to professional investors, of US$500 million 2.125 percent bonds due 2026 and listed in Hong Kong. Partner Lorraine Pao led the firm’s team in the transaction, while Cleary Gottlieb Steen & Hamilton (Hong Kong) acted as English and Hong Kong counsel and Commerce & Finance Law Offices acted as Chinese counsel. Linklaters acted as the English and Hong Kong counsel to the joint lead managers and the trustee, while JunHe acted as Chinese counsel for the joint lead managers.

Rajah & Tann Singapore, member firm of Rajah & Tann Asia, is acting for Capsol Investment III, an indirect wholly-owned subsidiary of Temasek Holdings and a member of the consortium of investors in Apricus Global, on Apricus’ pre-conditional S$312 million (US$232m) voluntary conditional general offer for all the issued and paid-up ordinary shares in the capital of Boardroom. Partners Sandy Foo and Goh Jun Yi, supported by partners Lee Xin Mei and Cheryl Tan on the debt aspects, are leading the firm’s team in the transaction.

Rajah & Tann Singapore, member firm of Rajah & Tann Asia, has also acted for Forestt Investment, a vehicle controlled by the founder of Neo Group, on the S$88.4 million (US$65.8m) voluntary conditional cash offer by Forestt of all the issued and paid-up ordinary shares in the capital of Neo Group. Partners Sandy Foo and Goh Jun Yi, supported by partners Cheryl Tan and Gazalle Mok on the financing aspects, led the firm’s team on the transaction.

Shearman & Sterling has represented HSBC, as the sole dealer manager, on an offer to purchase for cash by Jiayuan International Group for its outstanding 13.75 percent senior notes due 2022 and 13.75 percent senior notes due 2023. Jiayuan International Group is a property developer of large-scale residential and integrated commercial complex projects mainly in Jiangsu Province, China. Hong Kong capital markets partner Alan Yeung led the firm’s team in the transaction.

S&P has advised Indiabulls Hosing Finance, Edelweiss Financial Service, IIFL Securities and Trust Investment Advisors, as the lead managers, on the filing of a draft shelf prospectus by Indiabulls in relation to its public issue of secured and/or unsecured non-convertible debentures for up to Rs10 billion (US$137m). The first tranche of the transaction is expected to close in mid-September 2021, post receipt of regulatory approvals. The firm also advised Indiabulls and the lead managers on negotiations with other parties involved on the transaction, such as the debenture trustee (IDBI), the statutory auditors (Ernst and Young), the registrar (Karvy), and the credit rating agencies (CRISIL and Brickwork). Partner Murtaza Zoomkawala led the firm’s team in the transaction, which is the first public issue in India under the recently promulgated SEBI Regulations 2021, which took effect on August 9, 2021.

S&R Associates has represented ICICI Securities, Citigroup, Edelweiss Financial Services and Kotak Mahindra, as the book-running lead managers, on the Rs27.8 billion (US$380m) IPO by Aptus Value Housing Finance India, a retail-focused housing finance company primarily serving low and middle class self-employed customers in the rural and semi-urban markets of India. Partner Jabarati Chandra led the firm’s team in the transaction.

WongPartnership has advised Merrill Lynch (Singapore), as the sole lead manager, on the renounceable and non-underwritten rights issue of First Real Estate Investment Trust at an issue price of S$0.20 (US$0.149) for each rights unit, on the basis of 98 rights units for every 100 existing units, fractional entitlements to be disregarded. Gross proceeds of approximately S$158.2 million (US$117.7m) were raised. Partners Gail Ong and Loh Jen Vern led the firm’s team in the transaction.

WongPartnership has also acted for a global investment firm on their US$20 million investment into Nium, through a subsidiary. Partners Kyle Lee led the firm’s team in the transaction, together with partner Tian Sion Yoong.

Featured Deals:

Kudun and Partners has represented a group of high-net-worth buyers on the 69.18 percent share acquisition transaction, including preparing tender offer for all shares of One to One Contacts (OTO), from Samart Engineering and Samart Corporation in the total amount of β464.88 million (US$14.1m). Part of the transaction includes the firm providing escrow services for the buyer and the seller. Partner Kom Vachiravarakarn led the firm’s team in the transaction.

Kudun and Partners has also represented STARK Corporation on the issuance of derivatives in the form of warrants to purchase ordinary shares, with a term of four years from the issuance date of the warrants, of Stark Corporation Limited Series 1 (STARK-W1) for β20 billion (US$606.7m). Partner Kom Vachiravarakarn also led the firm’s team in the transaction.

Allen & Gledhill has acted as transaction counsel to Temasek Financial (I) on its issue of S$1.5 billion (US$848m) 2.8 percent guaranteed notes due 2071, under its US$25 billion guaranteed global medium term note program. The notes are unconditionally and irrevocably guaranteed by Temasek Holdings. Partners Yeo Wico, Wu Zhaoqi and Sunit Chhabra led the firm’s team in the transaction.

Allen & Gledhill has also acted as transaction counsel to Mapletree Investments on the issue of S$600 million (US$442.3m) 3.7 percent subordinated perpetual securities by Mapletree Treasury Services, under its US$5 billion euro medium term note program. The securities are guaranteed by Mapletree, and are the first subordinated fixed-for-life perpetual issuance in the Singapore dollar market. Partner Glenn Foo led the firm’s team in the transaction.

AZB & Partners is advising Internet Fund VII, a fund managed by Tiger Global Management, on its Rs2.6 billion (US$35m) acquisition via Series A equity funding round, along with other investors, of equity stake in The GOAT Brand Labs and its wholly-owned subsidiary Goat Brand Labs. Partners Srinath Dasari and Bhuvana Veeraragavan are leading the firm’s team in the transaction, which was signed on July 21, 2021 and is yet to be completed.

AZB & Partners has also advised Internet Fund V, a fund managed by Tiger Global Management, on its Rs9.31 billion (US$125.5m) acquisition of equity stake via Series D equity funding round in Hella Infra Market. Partners Ashwath Rau, Srinath Dasari and Bhuvana Veeraragavan led the firm’s team in the transaction, which was signed on July 28, 2021 and was completed on August 17, 2021.

Baker McKenzie has advised pension fund manager APG Asset Management on its agreement with Singapore-listed ESR Cayman and another global institutional investor on the formation of ESR’s latest logistics development platform in China, the “ESR China Development Platform”. The ESR China Development Platform has an initial equity commitment of US$1 billion, and focuses on developing and owning modern, institutional-grade logistics facilities in major logistics hubs across China. Co-chair of global funds group partner Jason Ng, supported by partner Stephen Crosswell, led the firm’s team in the transaction, which is subject to relevant regulatory approval.

Davis Polk has advised the underwriters on Baidu’s SEC-registered offering of its US$300 million 1.625 percent notes due 2027 and US$700 million 2.375 percent notes due 2031. The notes are issued as “Sustainability Bonds” under Baidu’s Sustainable Finance Framework. Baidu is a leading search engine, knowledge and information-centered internet platform and AI company. Baidu’s ADSs currently trade on the Nasdaq, while its Class A ordinary shares are currently traded in Hong Kong. Partners James Lin and Gerhard Radtke led the firm’s team in the transaction.

J Sagar Associates has advised ixigo (Le Travenues Technology) on the private equity investment in Series C1 preference shares by GIC. GIC also purchased certain preference shares from Fosun, an existing investor of ixigo. Joint managing partner Vivek Chandy and partner Archana Tewary led the firm’s team in the transaction.

J Sagar Associates has also advised ProPharma Group and its PE shareholder Odyssey Investment Partners on their 100 percent buyout of iSafety Systems. ProPharma Group is one of the leading global providers of pharmacovigilance and medical information services serving pharmaceutical, biotechnology and medical device companies. Headquartered in Hyderabad, iSafety Systems provides end-to-end pharmacovigilance and safety solutions globally. Partner Rishabh Gupta led the firm’s team in the transaction.

Khaitan & Co has advised Jindal India Thermal Power on the debt resolution of an outstanding obligation. To resolve the stress in the thermal power project, Jindal India Thermal Power approached the lenders with its primary proposal. The lenders conducted a ‘Swiss challenge’, inviting bids for the resolution of the debt, with Jindal awarded as the successful bidder. After issuance of Jindal’s letter of intent and approval of the resolution plan, the parties entered into definitive documents for detailed terms and conditions on the payment of the resolution amount to the lenders to settle the outstanding dues. Partner Siddharth Srivastava led the firm’s team in the transaction, which was valued at Rs25 billion (US$337m) and was announced on July 7, 2021.

Khaitan & Co has also advised Manjushree Technopack, India’s largest rigid plastic packaging company, on its acquisition, via business transfer agreement, of the commercial operations and manufacturing facilities of Classy Kontainers, one of the largest manufacturers of rigid plastics containers in India. Partner Aashutosh Sampat, supported by partners Anisha Chand and Anshul Prakash, led the firm’s team in the transaction, which was announced on August 16, 2021.

Maples and Calder has acted as Republic of the Marshall Islands counsel to Taylor Maritime Investments (TMI) on its IPO in London, certain seed asset vessel acquisitions and vessel financing. This is the first shipping IPO in London for a number of years. The offering, which closed on May 27, 2021, was over-subscribed. It raised US$160 million and issued approximately 93 million shares in connection with the acquisitions. TMI’s market capitalization on admission was US$253 million. Asia head of shipping partner Jonathan Silver led the firm’s team in the transaction.

Maples and Calder has also acted as BVI counsel to New Metro Global on its issuance of US$300 million 4.625 percent guaranteed senior notes due 2025, guaranteed by Seazen Holdings, and listed in Singapore. The notes are issued as green bonds. Partner Lorraine Pao led the firm’s team in the transaction, while Shearman & Sterling acted as the US counsel and Shu Jin Law Firm acted as Chinese counsel. Paul Hastings and Commerce & Finance Law Office acted as the US and Chinese counsel, respectively, to the initial purchasers.

Paul Hastings has advised Krafton, a leading game developer well-known for its PlayerUnknown’s Battlegrounds, on its US$3.8 billion global offering and listing in Korea. Credit Suisse, Citigroup, JP Morgan, Mirae Asset Securities and NH Investment & Securities acted as the joint global coordinators and joint book-runners. Krafton’s listing marks the second largest IPO in the South Korean capital markets. Corporate partner Dong Chul Kim led the firm’s team in the transaction.

Shearman & Sterling has represented HSBC, Valuable Capital, CCB International, CMB International, Shenwan Hongyuan (HK), SPDB International and YONXI Securities, as the initial purchasers, on the offering by Shinsun Holdings (Group) of US$200 million 12 percent senior notes due 2023. Shinsun Holdings is a comprehensive real estate developer in China, focusing on the development of quality residential properties in select regions in China. Hong Kong capital markets partner Alan Yeung led the firm’s team in the transaction.

S&R Associates has represented SBI Capital Markets, DAM Capital and IIFL Securities, as book-running lead managers, on the Rs4.01 billion (US$54m) IPO by Windlas Biotech, one of the top five companies in the domestic pharmaceutical formulations CDMO industry in India, in terms of revenue. Partner Jabarati Chandra led the firm’s team in the transaction.

WongPartnership has acted for TSI Metals HK on its general offer for the 356.54 million issued and paid-up ordinary shares in Dutech Holdings. Partners Joseph He, Liang Weitan and Soong Wen E led the firm’s team in the transaction.

WongPartnership has also acted for RBC Investor Services Trust Singapore, as trustee of ESR-REIT, on the A$60.5 million (US$43.7m) acquisition of 10 percent of the issued units in ESR Australia Logistics Partnership from ESR Queensland Hold Trust, a wholly-owned subsidiary entity of ESR Cayman. Partners Long Chee Shan and Loh Jen Vern led the firm’s team in the transaction.

Featured Deal

Yoon & Yang has advised Doosan Heavy Industries & Construction (DHIC) on aggregating and implementing US$60 million investment in US nuclear power plant manufacturer NuScale Power, which will expand the supply of small modular reactor (SMR) equipment and materials up to multibillion dollars. Following its initial investment with other Korean investors of US$44 million in 2019, DHIC decided to aggregate an additional US$60 million, raising the total investment to US$104 million. NuScale Power Module is expected to be applied for the first time to the nuclear power plant project carried out in Idaho by Utah Associated Municipal Power Systems. While enhanced cooperative relationship between DHIC and NuScale Power is expected to speed up the commercialization of SMRs, DHIC and Korean investors will expand their unitholding ratio in NuScale Power. Seoul cross-border transaction partner Zunu Lee (Joon Woo Lee), supported by Seoul partners Jae Woo Park and Youngkyun Yun, led the firm’s team in the transaction.

Allen & Gledhill has advised Temasek Financial (I) and Temasek Holdings on the issue of US$750 million 1.625 percent guaranteed notes due 2031, US$750 million 2.375 percent guaranteed notes due 2041 and US$1 billion 2.75 percent guaranteed notes due 2061, under the US$25 billion guaranteed global medium term note programme established by Temasek Financial (I). The notes are unconditionally and irrevocably guaranteed by Temasek Holdings. Partners Yeo Wico, Wu Zhaoqi and Sunit Chhabra led the firm’s team in the transaction.

Allen & Gledhill has also advised Singapore Press Holdings (SPH) on its S$2.2 billion (US$1.6b) privatization, via a scheme of arrangement, by Keppel Pegasus, a wholly-owned subsidiary of Keppel Corporation. Keppel Pegasus proposed to acquire all the issued and paid-up ordinary shares in the capital of SPH, excluding treasury shares. Upon completion of the scheme of arrangement, SPH will be delisted in Singapore. The scheme is conditional on, among others, the completion of the restructuring of the media business of the SPH group, involving the sale of SPH’s media business to SPH Media Trust, a not-for-profit company limited by guarantee. Partners Richard Young, Christopher Ong, Ko Xiaozheng, Lim Pek Bur, Magdalene Leong, Lim Mei Ann and Tham Kok Leong led the firm’s team in the transaction.

AZB & Partners is advising Internet Fund VII, a fund managed by Tiger Global Management, on its Rs32.7 million (US$440m) acquisition, along with other investors, of equity stake in Sorting Hat Technologies, which operates EduTech platform “Unacademy”. Partners Ashwath Rau, Srinath Dasari, Nanditha Gopal and Aditya Singh Chandel are leading the firm’s team in the transaction, which was signed on July 30, 2021 and is yet to be completed.

AZB & Partners has also advised Tribe Capital V-Series 27, a fund managed by Tribe Capital, on its Rs5.1 billion (US$68.6m) acquisition, via Series E equity fund raise round, along with other investors, of equity stake in Zinka Logistics Solutions, operator of online logistics platform “BlackBuck”. Partners Srinath Dasari and Nanditha Gopal led the firm’s team in the transaction, which was signed on July 7, 2021 and was completed on July 31, 2021.

Baker McKenzie is advising Swedish esports company Ninjas in Pyjamas (NIP) on its merger with Chinese esports group ESV5, and on the establishment of NIP Group, a global organization that will field teams in all the major esports titles. This transaction is in line with NIP’s strategy of becoming the first truly global esports organization. Best known for its Counter-Strike teams, NIP has fielded rosters across multiple titles, including VALORANT, Rainbow Six: Siege, and FIFA. ESV5 is a joint venture by Chinese esports programs eStar Gaming and Victory Five, and it is backed by DouYu and Qihoo 360. As a result of this merger, NIP will re-enter the competitive League of Legends (LoL) play in 2022, with ESV5 group-owned Victory Five, to be rebranded as Ninjas in Pyjamas, and continue competing in the LoL Pro League, the premiere Chinese LoL competitions. The same procedure will also be enacted for LoL: Wild Rift. Partner Tracy Wut (M&A-Hong Kong), supported by partners Joakim Falkner (capital markets-Stockholm), Anna Orlander (M&A-Stockholm), Linnea Back (tax-Stockholm) and Adam Farlow (capital markets-London), with Lei Ye of FenXun Partners in Shanghai, led the firm’s team in the transaction.

Clifford Chance has advised China Machinery Engineering Corporation (CMEC) on its privatization, implemented via merger by absorption and announced on January 13, 2021, by the offeror company wholly-owned by China National Machinery Industry Corporation. The merger became effective, and the shares of CMEC have been delisted in Hong Kong on August 6, 2021. Incorporated in China, CMEC is an international engineering contractor and service provider, with a primary focus on the engineering, procurement construction projects, and particular expertise in the power sector. CMEC is also engaged in trading, services, design consultation and other emerging sector business. Partners Tim Wang and Amy Lo led the firm’s team in the transaction.

J Sagar Associates has advised OFB Tech on its fund raise of US$160 million at a valuation close to US$1.5 billion. SoftBank’s Vision Fund 2 backed this round, which also saw participation from Falcon Edge and Matrix Partners. With this round, OFB Tech becomes the 18th Indian startup to attain the unicorn status this year. OFB Tech operates B2B e-commerce platform, and offers raw material procurement service and credit to small and medium enterprises through its non-banking financial company Oxyzo Financial Services. OFB Tech focuses on the manufacturing and infrastructure sectors, and also offers marketing services through its BidAssist platform. Partner Lalit Kumar, supported by partner Bharati Joshi, led the firm’s team in the transaction, which was valued at US$ 60 million.

J Sagar Associates has also advised Baring Private Equity Asia on its acquisition of the healthcare services business of Hinduja Global Solutions (HGS). Baring and HGS executed binding agreements for Baring to acquire the healthcare services business (HS business) of HGS for US$1.2 billion, subject to adjustments. The transaction involves the sale of the healthcare services business of HGS to Baring via a slump sale of the healthcare services business of HGS in India and its Philippines branch on a going concern basis, transfer of the entire shareholding of HGS in HGS Healthcare, HGS AxisPoint, HGS EBOS and HGS Colibrium, and sale as a going concern of the healthcare services business of Team HGS Jamaica to Baring. Partners Vikram Raghani and Anand Lakra, supported by partners Malini Raju, Shareen Gupta, Maneesh Upadhyay and Vaibhav Choukse.

Khaitan & Co has advised Mr Shashi Kiran Shetty, Talentos Entertainment and Avashya Holdings, members of the promoter group of Allcargo Logistics, on the proposed delisting of the equity shares of the company, under the recently notified SEBI (Delisting) Regulations 2021. Partner Arindam Ghosh led the firm’s team in the transaction, which was valued at Rs10.9 billion (US$146.5m).

Maples and Calder has acted as Cayman Islands counsel to Cayman Islands company Ambrx Biopharma on its IPO of American Depositary Shares representing its ordinary shares, and its listing in New York. Ambrx is a clinical stage biopharmaceutical company using an expanded genetic code technology platform to discover and develop engineered precision biologics. The offering, which closed on June 22, 2021, raised approximately US$126 million. Partner Richard Spooner led the firm’s team in the transaction, while Cooley acted as US counsel. Goodwin Proctor acted as US counsel to Goldman Sachs & Co, BofA Securities and Cowen and Company, as the underwriters.

Maples and Calder has also acted as Cayman Islands counsel to Cayman Islands exempted company Zhangmen Education on its IPO of American Depositary Shares representing its class A ordinary shares, and its listing in New York. Zhangmen is a leading online education company in China which focuses on providing personalized online courses to K-12 students. The offering, which closed on June 10, 2021, raised approximately US$42 million. Partner Richard Spooner also led the firm’s team in the transaction, while Skadden, Arps, Slate, Meagher & Flom acted as US counsel. Davis Polk acted as US counsel to Morgan Stanley & Co and Credit Suisse Securities (USA), as the underwriters.

Paul Hastings has advised Hanwha Systems on its US$300 million investment to acquire an 8.8 percent stake with certain governance rights, including a board seat, in OneWeb, a UK-based low earth orbit satellite communications company. With this transaction, Hanwha would join other existing and prospective investors in OneWeb, including the UK Government, global telecom operator Bharti Global, French satellite operator Eutelsat and SoftBank. Hanwha Systems is a total solutions company in defense electronics and information infrastructure under South Korean conglomerate Hanwha Group. The investment enables Hanwha Systems to strengthen its satellite communications network, and foster development of its space business with combined advantages. Headquartered in London, OneWeb is a global communications network powered from space, enabling connectivity for governments, businesses and communities. Partners Iksoo Kim (Seoul) and Garrett Hayes (London), supported by partner Dong Chul Kim (Seoul), led the firm’s team in the transaction, which is subject to customary regulatory approvals.

Paul Hastings has also advised on Hyundai Capital Services’ issuance of Rmb700 million (US$108m) 3.2 percent notes due 2024, under the US$5 billion global medium term note program. HSBC and Mizuho Securities acted as the joint book-runners and joint lead managers. Hyundai Capital is a specialized finance company, offering a variety of services ranging from auto finance to credit finance, mortgage and corporate finance. Corporate partner Iksoo Kim led the firm’s team in the transaction.

Rajah & Tann Singapore is acting for DBS Bank and United Overseas Bank, as the joint book-runners and underwriters, on the private placement of new units in Keppel Pacific Oak US REIT to raise gross proceeds of approximately US$65 million. Partners Raymond Tong and Penelope Loh are leading the firm’s team in the transaction.

Rajah & Tann Singapore has also acted for iCart Group on the US$65 million Series D fundraising of HappyFresh. The proceeds will be used for, among others, the working capital of the group. Partners Brian Ng and Lorena Pang led the firm’s team in the transaction.

S&P has advised SBI on financing the construction and development of the Noida International Airport at Jewar, Gautam Buddha Nagar, Uttar Pradesh. Yamuna International Airport (YIA), a wholly-owned subsidiary of Zurich Airport International (ZAI), has tied up financial assistance of up to Rs37.25 billion (US$501.4m) from SBI to finance the construction. The agreements were executed on August 10, 2021. Set up as a PPP model with a major international player like ZAI, the airport showcases India’s growing world-class infrastructure asset base. When fully built, the airport is expected to have six to eight runways, the maximum at an airport in India. This is one of the largest financings in an Indian greenfield airport. The financing also demonstrates ZAI’s commitment to the project, with the first phase of the airport funded on a 65:35 debt-to-equity ratio, and with ZAI injecting Rs20.05 billion (US$270m) as equity for the development of the airport. Partner Satadru Goswami led the firm’s team in the transaction.

S&P has also advised Nayara on the raising of non-convertible debentures with face value of Rs1 million (US$13,460.00) each, with a base issue size of Rs10 billion (US$134.6m). This was Nayara’s maiden listed debt issuance, and one of the largest listed issuances by a privately-held company under the newly-introduced regulations for listed secured debentures by SEBI. The issue was opened on August 12, 2021, while the debenture trust deed and security documents were executed on August 11, 2021. The debentures are to be listed in Bombay. Partner Rohit Raghavan, supported by partner Vivek Pareek, led the firm’s team in the transaction.

S&R Associates has represented Light Microfinance, an RBI-registered NBFC providing microfinance, and its promoter on an approximately Rs750 million (US$10m) investment round, involving European impact investors agRIF (Netherlands), Nordic Microfinance Initiative (Norway) and Triple Jump (Netherlands). Partner Viral Mehta led the firm’s team in the transaction.

Weil has acted as lead international and lead Hong Kong M&A counsel to MBK Partners on the US$1.1 billion acquisition and take-private, by funds managed by MBK Partners, of Hong Kong-listed CAR, via an initial acquisition of 20.9 percent of CAR and a voluntary general cash offer (VGO) for all the remaining shares in CAR. The firm advised on, among others, the closing of the 20.9 percent acquisition in December 2020, the satisfaction of the VGO preconditions, CAR’s refinancings during the course of the VGO, the closing of the VGO in March 2021, and CAR’s delisting in Hong Kong on July 8, 2021. Headquartered in Beijing, CAR is one of the largest car rental service providers in China. Hong Kong private equity and M&A partners Tim Gardner and Henry Ong led the firm’s team in the transaction.

WongPartnership has acted for Lendlease Global Commercial REIT on its issuance of S$200 million (US$147m) perpetual securities at 4.2 percent per annum. Partner Trevor Chuan led the firm’s team in the transaction.

WongPartnership has also acted as Singapore counsel to the selling shareholder, Danone Asia, on its secondary sale of ordinary shares in the issued share capital of China Mengniu Dairy, which raised gross proceeds of HK$15.4 billion (US$2b). The shares of China Mengniu Dairy are listed in Hong Kong, and the secondary sale comprised a Rule 144A/Regulation S global offering.

Featured Deals:

Kudun and Partners has represented B.Grimm Power on a cross-border investment transaction on acquiring 100 percent shares in a company that has obtained the right to develop the first ground-mounted solar photovoltaics project in Cambodia, with the power purchase agreement for 30 MW with Electricite Du Cambodge (EDC) for 20 years. B.Grimm is one of the oldest and largest infrastructure developers in Thailand. Upon completion of the acquisition, the firm continued to assist on the project development phase, including preparation and finalization of the construction and supply agreements. Partner Kudun Sukhumananda, supported by partner Chai Lertvittayachaikul, led the firm’s team in the transaction.

Kudun and Partners has also represented CNNC Joint Venture, consisting of Prima Marine subsidiary NTL Marine, and Nathalin and Zhonggang Construction Group from China, on setting up the joint venture company and the submission of bidding proposal to the Port Authority of Thailand for the construction work of Laem Chabang Port Development Project Phase 3 (Part 1) Off-Shore Construction, a key project in Thailand’s Eastern Economic Corridor, which is put forward by the current Thai government to attract investment, boost innovation and upgrade the industries. Partner Kom Vachiravarakarn led the firm’s team in the transaction.

VILAF has advised BIM Land Joint Stock Company on its offering of US$200 million 7.375 percent high yield bonds due 2026 for listing in Singapore, and which was closed in May 2021. The deal is one of the first Regulation S international bond offering by a non-public company in Vietnam, and is also Vietnam’s first green bond. A subsidiary of BIM Group, BIM Land is one of the leading resort and hotel developers in the country, lending its expertise to major international resort players, including Hyatt Group, InterContinental Hotels Group and Frasers Property Group. The capital raised from the bond issuance will be used to develop the company’s real estate projects, including many green and environmental protection projects. Founding partner Phong Tran led the firm’s team in the transaction.

Allen & Gledhill has advised DBS Bank, Oversea-Chinese Banking Corporation (OCBC) and Malayan Banking Singapore Branch (Maybank) on the S$871.75 million (US$642m) term loan and revolving facilities to Phoenix Commercial and Phoenix Residential, which are 70:30 joint ventures between Allgreen Properties and Kerry Properties. This is the first green loan for both Allgreen and Kerry. The facilities will be used to finance a mixed-use development project in Pasir Ris, Singapore, which will comprise 487 residential apartments known as Pasir Ris 8, and will be integrated with a four-level retail podium with net lettable area of about 268,000 square feet. DBS, OCBC and Maybank were appointed mandated lead arrangers and original lenders. DBS and OCBC were appointed green loan advisors, while OCBC was appointed facility agent and security agent. Partner Daselin Ang led the firm’s team in the transaction.

Allen & Gledhill has also advised IREIT Global Group, manager of IREIT Global, on a €110.5 million (US$130m) proposed acquisition of 27 retail properties in France from Decathlon. The firm also acted as transaction counsel to IREIT Global on its S$126.7 million (US$93.3m) equity fund raising, via placement of approximately S$7 million (US$5.15m) new units in IREIT Global to Bond Capital Partners, and non-renounceable preferential offering of approximately S$119.7 million (US$88m), to part finance the transaction. This is IREIT Global’s first foray into France, and will strengthen its portfolio and reduce its reliance on any single geographical location or trade sector. Managing partner Jerry Koh and partner Teh Hoe Yue led the firm’s team in the transaction.

AZB & Partners is advising Brookfield Asset Management on the approximately Rs9 billion (US$121m) acquisition of 100 percent equity shareholding of Space Teleinfra by Tower Infrastructure Trust, a SEBI-registered InvIT managed by Brookfield India Infrastructure Manager, which is controlled by Brookfield Asset Management. Partners Gautam Saha and Nikhil Bahl are leading the firm’s team in the transaction, which was signed on July 20, 2021 and is yet to be completed.

AZB & Partners has also acted as Indian counsel to Anand Rathi Wealth on its IPO, via an offer for sale, of up to 12 million equity shares, with face value of Rs5 (US$0.067) each. Partners Varoon Chandra and Lionel D’Almeida led the firm’s team in the transaction.

Baker McKenzie has advised Far East Horizon (FEH) and its wholly-owned subsidiary Universe Trek on Universe Trek’s issuance of US$200 million zero coupon guaranteed convertible bonds due 2026, guaranteed by FEH. A leading integrated financial service provider in China, FEH is committed to provide customers with customized, one-stop financial solutions through financial leasing and other value-added services. Huatai Financial Holdings (Hong Kong) is the sole global coordinator, sole book-runner and sole lead manager for the transaction. Beijing partner Hang Wang of Baker McKenzie (Beijing) and Bing Han of FenXun Partners (Beijing) led the firms’ team in the transaction, which was completed on August 5, 2021.

Baker McKenzie has also advised China International Capital Corporation Hong Kong Securities (CICC) on the proposed privatization, via merger by absorption, of China Machinery Engineering Corporation (CMEC). The cash consideration to be paid by the offeror is approximately HK$3.4 billion (US$437m). The merger agreement has become effective. CMEC’s H shares were delisted in Hong Kong on August 6, 2021. CICC is the financial adviser to the offeror, a wholly-owned subsidiary of China National Machinery Industry Corporation, a state-owned enterprise wholly-owned by the State Council of China and is the controlling shareholder of CMEC. A joint stock limited company incorporated in China and listed in Hong Kong, CMEC is an international engineering contractor and service provider, with a primary focus on engineering, procurement construction projects and particular expertise in the power sector. Partners Christina Lee (Hong Kong) and Hang Wang (Beijing) of Baker McKenzie, supported by Betty Wong (Hong Kong) and Bing Han (Beijing) of FenXun Partners, led the firm’s team in the transaction.

Clifford Chance has advised Partners Group, a leading global private markets firm, acting on behalf of its clients, on the A$620 million (US$455m) acquisition of a portfolio of eleven Travelodge hotels in Australia from Mirvac and NRMA. Partners Group will acquire the portfolio in a joint venture with Singapore sovereign wealth fund GIC and Australian hospitality operator Salter Brothers. The acquisition is the largest of its kind to transact in Australia, and is one of the biggest hotel real estate transactions in Asia Pacific this year. The Travelodge portfolio is diversified across key metropolitan centers, including Sydney, Melbourne and Brisbane, and consists of over 2,000 rooms. Acquiring the portfolio will provide an opportunity for Partners Group to capitalize on the long-term relative value of Australia’s hospitality sector, and will enable immediate scale in the sector. Partners Reuben van Werkum and Andrew Crook led the firm’s team in the transaction, which is subject to satisfaction of customary conditions precedent.

Davis Polk has advised Zylox-Tonbridge Medical Technology on its IPO and listing in Hong Kong, in reliance on Rule 144A and Regulation S of the Securities Act of 1933. The gross proceeds from the offering amounted to approximately HK$2.56 billion (US$329m), prior to any exercise of the over-allotment option. Zylox-Tonbridge Medical Technology is a leading player in the neuro- and peripheral-vascular interventional medical device market in China. Partners Yang Chu, Li He and Xuelin (Steve) Wang led the firm’s team in the transaction.

Davis Polk has also advised the joint lead managers on the Regulation S offering of US$250 million principal amount of 12.5 percent senior notes due 2024 on August 4, 2021. The notes are guaranteed by Fujian Yango Group. Concurrently with the notes offering, the firm advised the dealer managers on the cash tender offer for any and all of its outstanding 12.50 percent senior notes due 2021. Fujian Yango Group is a large private corporate group primarily engaged in property development, trading, education services and environmental protection businesses. Leveraging its strong foothold in Fujian province, Fujian Yango Group has expanded into other cities across China. Hong Kong partners Gerhard Radtke and Yang Chu led the firm’s team in the transaction.

Dentons has acted as international and Chinese counsel to Kunming-headquartered Yunnan Communications Investment and Construction Group, an integrated transport infrastructure investor, public road construction developer and industry-financial services provider, on the global offering of its English law-governed US$200 million 3.1 percent guaranteed notes due 2024 under Regulation S, and to be listed in Hong Kong. China Industrial Securities International was the sole global coordinator, while ICBC Singapore, ICBC International, CEB International, China Minsheng Banking Hong Kong Branch, Industrial Bank Hong Kong Branch and Glory Sun Financial were the joint lead managers and joint book-runners. Hong Kong capital markets partners Gordon Ng and Man Chiu Lee and Kunming senior partners Wei Ma and An Li led the firm’s team in the transaction.

J Sagar Associates has advised Danfoss and its Indian subsidiaries on its acquisition of the hydraulics business from Eaton Corporation and its Indian subsidiaries. Danfoss entered into a stock and asset purchase agreement in January 2020 to acquire Eaton’s hydraulics business across various jurisdictions. After receiving necessary regulatory approvals and completion of closing conditions, Danfoss has acquired the global hydraulics business from Eaton. With this acquisition, Danfoss will have the broadest selection of mobile and industrial hydraulics products and solutions available on the market, with the full line offering, including fluid conveyance systems. Partner Sidharrth Shankar, supported by partner Prakriti Jaiswal, led the firm’s team in the transaction, which was valued at approximately US$3.3 billion.

J Sagar Associates has also advised Aviacode on the 100 percent sale of the shares of its subsidiary Anza Medicode India to ChrysCapital-backed GeBBs Healthcare Solutions. The firm also advised Aviacode on the India leg of the overseas merger between Aviacode and the US merger subsidiary of GeBBs India. Aviacode is a provider of medical coding and compliance services to hospitals and physician groups. GeBBS is a leading provider of technology-enabled revenue cycle management (RCM) and risk adjustment solutions for healthcare providers. The transaction expands the services, capabilities and geographical footprints of both companies, enabling clients to benefit from an integrated RCM solution offering from one partner. Partner Shivpriya Nanda, supported by partner Shafaq Uraizee Sapre, led the firm’s team in the transaction, while Dorsey & Whitney advised on the US leg of the deal.

K Law has represented TCF Entertainment on a commercial IP suit it filed before the Bombay High Court against Zee Entertainment Enterprises and Optimystix Entertainment India for, inter alia, infringing TCF’s registered trademark “The Comedy Factory”. After detailed hearing for ad-interim reliefs, Zee proposed to change the name of its show from “Zee Comedy Factory” to “Zee Comedy Show” and was also directed to pay costs to TCF. Partner Ayush Agarwala led the firm’s team representing the client.

Maples and Calder, the Maples Group’s law firm in Hong Kong, has acted as Cayman Islands counsel to Missfresh on its IPO of 21 million American Depositary Shares, representing its class B ordinary shares, and its listing on the Nasdaq. Missfresh is an innovator and leader in China’s neighborhood retail industry. The offering, which closed on June 29, 2021, raised approximately US$273 million. Partner Everton Robertson led the firm’s team in the transaction, while Skadden, Arps, Slate, Meagher & Flom acted as US counsel. Davis Polk & Wardwell acted as US counsel for JP Morgan Securities, Citigroup Global Markets, China International Capital Corporation Hong Kong Securities and China Renaissance Securities (Hong Kong), as the underwriters.

Maples and Calder, the Maples Group’s law firm in Hong Kong, has also acted as Cayman Islands counsel to AiHuiShou International on its IPO of approximately 16.23 million American Depositary Shares, representing its class A ordinary shares, and its listing in New York. The offering, which closed on June 22, 2021, raised approximately US$227 million. AiHuiShou International is the largest pre-owned consumer electronics transactions and services platform in China. Partner Karen Zhang Pallaras led the firm’s team in the transaction, while Skadden, Arps, Slate, Meagher & Flom acted as US counsel. Latham & Watkins acted as US counsel for Goldman Sachs (Asia), BofA Securities and China Renaissance Securities (Hong Kong), as the underwriters.

Paul Hastings has advised KakaoBank on its US$2.2 billion IPO in Korea. Credit Suisse and KB Investment & Securities acted as the joint global coordinators and joint book-runners, with Citigroup acting as a joint book-runner. The leading mobile-only bank and fintech platform in Korea, KakaoBank is a member of the Kakao Group, Korea’s leading internet conglomerate. Corporate partner Iksoo Kim led the firm’s team in the transaction.

Paul Hastings has also advised HK inno.N on its US$523 million global offering and listing in Korea. JP Morgan, Samsung Securities and Korea Investment & Securities acted as the lead underwriters. HK inno.N is a leading biopharmaceutical and health and beauty care company in Korea, and is the flagship pharmaceutical company of the HK Kolmar Group, a leading conglomerate in the fields of cosmetics, pharmaceuticals and health foods in Korea. Corporate partner Iksoo Kim also led the firm’s team in the transaction.

Rajah & Tann Singapore, member firm of Rajah & Tann Asia, is advising Bridgetown 2 Holdings, a special purpose acquisition company formed by Pacific Century Group and Thiel Capital, on its proposed merger with PropertyGuru into a combined company with an equity value of approximately US$1.78 billion, and the proposed listing of the combined company in New York. Partners Evelyn Wee and Hoon Chi Tern, supported by partners Desmond Wee, Benjamin Cheong, Elsa Chai, Lina Chua and Vikna Rajah, are leading the firm’s team in the transaction.

Rajah & Tann Singapore, member firm of Rajah & Tann Asia, has also advised NewQuest Capital Partners on its acquisition of a controlling stake in Cosmos-Maya from KKR-backed Emerald Media. Partners Sandy Foo and Lee Jin Rui led the firm’s team in the transaction.

Shearman & Sterling has advised Abu Dhabi Future Energy (Masdar) and PJB Investasi, a subsidiary of Indonesian state-owned offtaker PLN, on the US$114 million financing of a 145MWac floating solar photovoltaic power project on the Cirata Reservoir in Indonesia, the largest project of its kind in South East Asia. Financial close was achieved on August 3, 2021. This is the first IPP in Indonesia to be financed by commercial banks on an uncovered basis, the first renewable project to be done under Presidential Regulation 4/2016, which requires a PLN subsidiary to hold a 51 percent stake in the project company, and the first investment by Masdar in the region. Singapore project development and finance partner Jean-Louis Neves Mandelli led the firm’s team in the transaction.

S&R Associates has represented Kotak Mahindra, BofA Securities, Goldman Sachs, DAM Capital, BOB Capital Markets and SBI Capital Markets, as the book-running lead managers, on the Rs15.14 billion (US$203.5m) IPO by Glenmark Life Sciences, a leading developer and manufacturer of select high value, non-commoditized active pharmaceutical ingredients in chronic therapeutic areas. Partners Sandip Bhagat and Jabarati Chandra led the firm’s team in the transaction.

S&R Associates has also represented IRB Infrastructure Trust, India’s first unlisted infrastructure investment trust, on a Rs3.82 billion (US$51.3m) rights issue to eligible unitholders of the private InvIT, which included IRB Infrastructure Developers (the sponsor) and affiliates of GIC. Partner Sandip Bhagat led the firm’s team in the transaction, which is the second rights issue by an unlisted infrastructure investment trust in India.

WongPartnership has acted for the lenders on the US$1 billion acquisition financing for Olde Thompson to Olam Holdings. Partners Susan Wong and Felix Lee led the firm’s team in the transaction.

WongPartnership has also acted for KKR & Co on the acquisition by PropertyGuru of REA Group’s operating entities in Malaysia and Thailand. Managing partner Ng Wai King and partners Kyle Lee and Soong Wen E led the firm’s team in the transaction.

Featured Deals:

Kudun and Partners has represented Nex Point on its investment and penetration into the electric vehicle business focusing on public bus, through the acquisitions of partial equity interest from the existing shareholders in Beli Service, with a deal value of β260 million (US$7.9m), and Absolute Assembly, with a deal value of β218.2 million (US$6.6m). Partner Kom Vachiravarakarn led the firm’s team in the transaction, which has a total acquisition value of β478.2 million (US$14.5m).

Kudun and Partners has also represented Thailand-listed Prima Marine, a full-service provider in the marine transport industry and one of the largest fully integrated business operator in oil tanker and oil and petroleum storages in Thailand, on the acquisition from Thailand-listed Thai Oil, a subsidiary of PTT Group and the largest oil refinery in Thailand, of all equity interests in Thaioil Marine (TM) and of TM’s equity interests in TM’s subsidiaries, including TOP Maritime Services, with a total value of approximately β1.6 billion (US$48.4m). Partner Kom Vachiravarakarn also led the firm’s team in the transaction.

VILAF has advised Credit Suisse (Singapore), as the sole lead manager, on the US$300 million offering of convertible bonds due 2026 by Novaland Group, one of Vietnam’s leading real estate developers. The bonds are to be listed in Singapore. The deal, which closed in July 2021, also involved an exclusive equity swap arrangement between the sole lead manager and the issuer’s Vietnamese counterparty. This offering follows an earlier tranche of offering of US$240 million convertible bond due 2023, closed in February 2021.

VILAF has also advised Vingroup on its offering of US$500 million three percent exchangeable bond due 2026 for listing in Singapore. The offering closed in April 2021. The bonds are exchangeable into shares of Vinhomes. Vingroup is the largest conglomerate in Vietnam, focusing on various industries, including technology, real estate, retail, automobile and services.

Allen & Gledhill has advised the Housing and Development Board on the issue of S$750 million (US$554.7m) 1.865 percent fixed rate notes due 2033, under its S$32 billion (US$23.7b) multicurrency medium term note program. Partners Margaret Chin and Sunit Chhabra led the firm’s team in the transaction.

Allen & Gledhill has also acted as transaction counsel to CapitaLand, through Ascendas India Logistics Holdings, on the launch of its second S$400 million (US$296m) Indian logistics private fund, the CapitaLand India Logistics II (CILP II). This follows after the successful launch of CapitaLand’s first Indian logistics private fund, the S$400 million (US$296m) Ascendas India Logistics Program, in 2018. CILP II will invest in the development of logistics assets in key warehousing and manufacturing hubs in major cities in India. Managing partner Jerry Koh and partner Foong Yuen Ping led the firm’s team in the transaction.

Ashurst, with its associated Indonesian firm OSP, has advised Borneo Alumina Indonesia (BAI), a subsidiary of Indonesia Asahan Aluminium and Aneka Tambang, and Mining Industry Indonesia (MIND ID), the national mining industry holding company, on the development and financing of the largest and most technologically advanced smelter grade alumina refinery in Indonesia. The project is part of the Indonesia’s National Strategic Project program, and will support the national mining industry by bridging the gap between upstream mining operations and the downstream aluminum value chain. The project, which is located in Mempawah, West Kalimantan province, has a capacity of one million tones per annum, and uses the Bayer refining process. The total capital expenditure of the project is approximately US$1 billion, including the main refinery and ancillary power and transportation infrastructure. Partners Frederic Draps and Alfred Ng, supported by partners Rizaldy Tauhid and Ratih Nawangsari, led the firms’ team in the transaction.

AZB & Partners is advising Tribe Capital V LLC-Series 27, a fund managed by Tribe Capital, on its Rs5.1 billion (US$68.7m) acquisition via Series E fund raise round, along with other investors, of equity stake in Zinka Logistics Solutions, operator of online logistics platform BlackBuck. The other investors include Sands Capital Private Growth II, Sands Capital Private Growth III, International Finance Corporation, Ithan Creek Master Investors (Cayman), IFC Emerging Asia Fund, VEF AB, Rajaraman Parameswaran, QED Innovation Labs and Kumar Puspesh. Partners Srinath Dasari and Nanditha Gopal are leading the firm’s team in the transaction, which was signed on July 7, 2021 and is yet to be completed.

AZB & Partners has also advised Internet Fund III, an affiliate of Tiger Global Management, on its Rs2 billion (US$27m) acquisition via Series A funding round, along with other investors, of equity stake in Primetrace Technologies, operator of social media networking platform Kutumb. Partners Ashwath Rau, Srinath Dasari and Nanditha Gopal led the firm’s team in the transaction, which was signed on June 1, 2021 and was completed on July 15, 2021.

Baker McKenzie has advised VNLIFE on raising more than US$250 million in a series B funding round led by General Atlantic and Dragoneer Investment Group, with participation from PayPal Ventures and EDBI, the corporate investment arm of Singapore’s Economic Development Board. The round, reportedly one of the largest conducted in Vietnam, also saw the participation of existing investors Singapore sovereign wealth fund GIC and SoftBank Vision Fund. VNLIFE is a leading technology company and is the parent company of fintech VNPAY, a unicorn fintech firm facilitating digital payment offerings for over 40 banks in the country. VNLIFE also operates VNPAY-QR, the nation’s largest interoperable cashless payment network, with 22 million users and over 150,000 merchants. Partner HoangKimOanh Nguyen, head of the banking and finance and capital markets practice in Vietnam, led the firm’s team in the transaction.

Baker McKenzie is also advising Chong Hing Bank on a privatization proposal, via a scheme of arrangement, by its parent company, Yue Xiu Enterprises (Holdings). The transaction is subject to shareholders’ approval and sanction of the Hong Kong Court, and the delisting of the shares of Chong Hing Bank will take place when all conditions are satisfied. An authorized institution under the Hong Kong Banking Ordinance, Hong Kong-listed Chong Hing Bank offers a full range of commercial banking and financial products and services to individual and corporate customers in Hong Kong, Macau and the Mainland. Yue Xiu Enterprises is a wholly-owned subsidiary of Guangzhou Yue Xiu Holdings, and is principally engaged in real estate, finance and securities, and transport and infrastructure. Guangzhou Yue Xiu Holdings is beneficially wholly-owned by the Guangzhou Municipal People’s Government of China. Hong Kong partner Dorothea Koo, supported by Hong Kong partner Kwun Yee Cheung, led the firm’s team in the transaction.

Davis Polk has advised Aluminum Corporation of China (Chalco) on the US$500 million 1.55 percent guaranteed bonds and US$500 million 2.1 percent guaranteed bonds issued by Chalco Hong Kong Investment, Chalco’s wholly-owned BVI subsidiary. Chalco unconditionally and irrevocably guaranteed the bonds. A leading enterprise in the non-ferrous metal industry in China, Chalco principally engages in alumina refining, primary aluminum smelting, chemical alumina products production and sales, trading and logistics of alumina, primary aluminum, other non-ferrous metal products, coal products and raw and ancillary materials in bulk. Chalco’s shares are listed in Hong Kong, New York and Shanghai. Hong Kong partner Gerhard Radtke led the firm’s team in the transaction.

Davis Polk has also advised the initial purchasers on Zhenro Properties Group’s Regulation S offering of its Rmb300 million (US$46.4m) 7.125 percent senior notes due 2022, to be consolidated and form a single class with the Rmb1.3 billion (US$201m) 7.125 percent senior notes due 2022 issued on July 2, 2021. The notes are being issued as “green bonds” under the issuer’s green bond framework. Hong Kong-listed Zhenro Properties Group is a large comprehensive property developer in China. Hong Kong partner Gerhard Radtke also led the firm’s team in the transaction.

J Sagar Associates has advised Aarti Industries, Edelweiss Financial Services, Ambit and Kotak Mahindra Capital on the qualified institutions placement of Aarti Industries. It had filed a placement document on June 30, 2021 for the issue of approximately 14 million equity shares, aggregating to Rs12 billion (US$161.7m), to qualified institutional buyers. Aarti Industries is the leading specialty chemical manufacturer producing benzene-based derivatives in India, and it also ranks among the largest players globally across various processes, such as chlorination, nitration, and hydrogenation (in volume terms). Partner Arka Mookerjee, supported by partner Siddhartha Desai, led the firm’s team in the transaction, which was concluded in four months from the date of its kick-off.

J Sagar Associates has also advised Godrej Fund Management, the real estate-focused private equity arm of the Godrej Group, on an acquisition by its platform GBTC I (Master), with an investment in a special purpose vehicle for acquiring a parcel of land of around nine acres in Pune, with development potential of around 1.5 million sq ft for a commercial office project. Partner Rupinder Malik, supported by partner Rajul Bohra, led the firm’s team in the transaction.

Khaitan & Co has advised JSW Cement, India’s leading green cement company, on raising Rs15 billion (US$202m) from global private equity investors Apollo Global Management, through its managed funds, and Synergy Metals Investments Holding, with each investor investing Rs7.5 billion (US$101m) of primary capital. The transaction is a structured private equity deal, where compulsorily convertible preference shares (CCPS) are issued to the investors, and the conversion of such CCPS into common equity of the company will be linked to the company’s future performance and valuation, determined at the time of the IPO. This investment will help JSW Cement accelerate its capacity expansion from current 14 MTPA to 25 MTPA. JSW Cement is part of the diversified US$13 billion JSW Group. As one of India’s leading business houses, JSW Group also has other business interests in sectors such as steel, energy, infrastructure, paints, sports and venture capital. Partner Niren Patel, supported by director Vinita Krishnan and partners Anisha Chand, Shivanshu Thaplyal, Anshul Prakash, Nishad Nadkarni, and Devendra Deshmukh, led the firm’s team in the transaction, which was announced on July 28, 2021. Khaitan Legal Associates, led by founder and senior partner Sakate Khaitan, advised Synergy Metals Investments Holding, while Shardul Amarchand Mangaldas, led by partners Gunjan Shah and Shruti Kinra, advised Apollo Global Management.

Khaitan & Co has also advised Panatone Finvest, the investment arm of Tata Sons, on the acquisition of equity shares and warrants of Tejas Networks, aggregating up to approximately 69 percent of its expanded voting share capital, for Rs29.22 billion (US$393.5m). This includes the shares for which a mandatory tender offer has been announced by Panatone Finvest and its group companies, in accordance with the SEBI Takeover Regulations. Executive director Sudhir Bassi and partners Bharat Anand, Pashupati Nath and Arindam Ghosh, supported by partners Aditya Patni, Moin Ladha, Harsh Walia, Pranjal Prateek, Indruj Singh Rai and Manisha Shroff, led the firm’s team in the transaction, which was announced on July 29, 2021. Tejas Networks was advised by Bangalore partner Ganesh Prasad.

Maples and Calder, the Maples Group’s law firm in Hong Kong, has acted as Cayman Islands counsel to Social Capital Suvretta Holdings on its IPO of 22 million Class A ordinary shares, plus a 15 percent underwriter over-allotment option, and its listing on the Nasdaq. The issuer is a special purpose acquisition company formed to pursue business combination targets, which focuses on completing combinations in the biotechnology industry and within the neurology subsector of such industry. The offering, which closed on July 2, 2021, raised approximately US$220 million, following an upsize of 15 percent underwriter over-allotment option. Partner Matt Roberts led the firm’s team in the transaction, while Wachtell, Lipton, Rosen & Katz acted as US counsel. Ropes & Gray acted as US counsel to Morgan Stanley & Co, as the underwriter.

Maples and Calder, the Maples Group’s law firm in Hong Kong, has also acted as Cayman Islands counsel to Dingdong, a Cayman Islands exempted company, on its IPO of American Depositary Shares, representing its class A ordinary shares, and its listing in New York. Founded in 2017, Dingdong is a self-operated freshness platform and a life service app that provides distribution services. The main products offered are vegetables, soy products, fruits, meat and poultry, eggs, aquatic seafood, rice, flour and oils, and snack foods. The offering, which closed on July 1, 2021, raised approximately US$95.7 million. Partner Everton Robertson led the firm’s team in the transaction, while Kirkland & Ellis International acted as US counsel. Cleary Gottlieb Steen & Hamilton acted as US counsel to Morgan Stanley & Co, BofA Securities and Credit Suisse Securities (USA), as the underwriters.

Rajah & Tann Singapore, member firm of Rajah & Tann Asia, is acting for NanoFilm Technologies International on its S$140 million (US$103.6m) joint venture with Venezio Investments, a wholly-owned subsidiary of Temasek Holdings, to undertake the hydrogen energy and hydrogen fuel cell business of the NanoFilm Group, through Sydrogen Energy. Partners Favian Tan and Benjamin Cheong are leading the firm’s team in the transaction.

Rajah & Tann Singapore, member firm of Rajah & Tann Asia, has also acted for Singapore-listed Beng Kuang Marine on its placement of S$1.35 million (US$998.5m) new shares via SAC Capital, as placement agent. Partners Danny Lim and Penelope Loh led the firm’s team in the transaction.

Shearman & Sterling has represented Nomura International and Admiralty Harbour Capital, as the dealer managers, on the exchange offer by Anton Oilfield Services Group of up to the maximum acceptance amount of its outstanding 7.5 percent senior notes due 2022 for 8.75 percent senior notes due 2025. In connection with the exchange offer, the company issued US$61.9 million 8.75 percent senior notes due 2025. The firm also represented Nomura International and Admiralty Harbour Capital, as the initial purchasers, on Anton Oilfield Services Group’s concurrent new money offering of US$88.1 million 8.75 percent senior notes due 2025. Anton Oilfield Services Group is a leading integrated oilfield technology service company that provides a full range of products and services for oil and gas development. Its business covers more than 30 countries and regions, including China, the Middle East, Africa, Central Asia, Southeast Asia and Latin America. Hong Kong capital markets partner Alan Yeung led the firm’s team in the transaction.

WongPartnership advised Sri Trang Gloves (Thailand) on its secondary listing via introduction of its ordinary shares in Singapore. Sri Trang Gloves has a market capitalisation of approximately S$5.5 billion (US$4.1b), based on the closing market price of its shares quoted in Thailand on May 7, 2021. Partners Gail Ong and Karen Yeoh led the firm’s team in the transaction.

WongPartnership has also acted for a global investment firm on the joint venture for freighter aircraft leasing. Partners Mark Choy and Soong Wen E led the firm’s team in the transaction.