Allen & Gledhill has advised DBS Bank and Maybank Kim Eng Securities as arrangers on the US$257 million and S$350 million (US$255.2m) secured offshore term loan facilities to Swift Astute. DBS Bank, Malayan Banking Singapore Branch, China Merchants Bank Singapore Branch, China Minsheng Banking Corporation Shanghai Pilot Free Trade Zone Branch and Mega International Commercial Bank were appointed as original offshore lenders of the facilities. The proceeds of the facilities are to be applied towards financing up to 20 separate acquisitions in Hong Kong and China. Partners Lim Wei Ting and Goh Ping Ying led the firm’s team in the transaction.

Allen & Gledhill has also advised DBS Group Holdings on the issue of its S$1 billion (US$729m) 3.98 percent perpetual capital securities first callable in 2025, under its US$30 billion global medium term note programme. Partner Glenn Foo led the firm’s team in the transaction.

AZB & Partners has advised Client Rosehill on its acquisition of 5.3 percent equity stake of SPML Infra, increasing its stake in SPML to approximately 15 percent. Partner Vaidhyanadhan Iyer led the firm’s team in the transaction, which was completed on August 21, 2018.

AZB & Partners has also advised Bharti Airtel, Nettle Infrastructure Investments, Bharti Telemedia and Bharti Enterprises on the Rs21 billion (US$288.4m) acquisition by Lion Meadow Investment, an affiliate of Warburg Pincus, of 20 percent of the share capital of Bharti Telemedia. Partner Gautam Saha led the firm’s team in the transaction, which was completed on September 5, 2018.

Colin Ng & Partners has acted as Singapore law counsel to Eggriculture Foods on its listing on September 7, 2018 in Hong Kong, pursuant to which 125 million shares were offered at HK$0.50 (US$0.064) per share, raising approximately HK$33.9 million (US$4.3m) in net proceeds. Central China International Capital is the sole sponsor for the share offer. Eggriculture is a Singapore-based group which produces and sells egg products. Partner Tan Min-Li led the firm’s team in the transaction.

Conyers Dill & Pearman has acted as BVI and Cayman Islands counsel to Trade Horizon Global, a wholly-owned subsidiary of Beijing Capital Grand, on its issue of US$400 million floating rate guaranteed notes due 2021. The company provides real estate development services. Hong Kong partner Flora Wong, working alongside Clifford Chance, led the firm’s team in the transaction, which was completed on September 13, 2018.

Conyers Dill & Pearman has also advised New York-listed Aircastle on the increase to US$800 million from US$675 million of its unsecured revolving credit facility with Citibank, Goldman Sachs Bank, JP Morgan Chase Bank and Royal Bank of Canada, as joint lead arrangers, which completed in June 2018. Citibank, Goldman Sachs Bank, JP Morgan Chase Bank, Royal Bank of Canada, Credit Agricole Corporate & Investment Bank, MUFG Bank and BNP Paribas are the lenders, with Citibank acting as agent of the revolving credit facility. The facility’s maturity was extended by one year to June 2022. The firm has advised Aircastle with the facility, since it was first announced in December 2012. Bermuda corporate director Jason Piney, working alongside Milbank, Tweed, Hadley & McCloy, led the firm’s team in the transaction. Cahill Gordon & Reindel represented the lenders.

Cyril Amarchand Mangaldas has acted as Indian counsel to CDPQ Infrastructures Asia II, a subsidiary of Caisse de depot et placement du Quebec, on the proposed acquisition of 40 percent equity stake in CLP India from CLP GPEC (Mauritius) Holdings, a subsidiary of Hong Kong-listed CLP Holdings, for Rs26.4 billion (US$363m). CLP India holds a broad generation portfolio in India, and recent focus on expanding its low-carbon business. Mumbai managing partner Cyril Shroffa and partners L Viswanathan (Mumbai-infrastructure) and Ruetveij Pandya (Mumbai-corporate), supported by partners Abhilash Pillai (New Delhi-real estate), Subhalakshmi Naskar (Mumbai-infrastructure), Avaantika Kakkar (Mumbai-competition law) and Anshuman Sakle (Mumbai-competition law) and S R Patnaik (New Delhi-tax), led the firm’s team in the transaction, while Shearman & Sterling acted as international counsel. King & Wood Mallesons acted as international counsel to CLP India and CLP Holdings, while Trilegal acted as Indian counsel.

Gide is advising Total on the sale of its polystyrene business in China to INEOS Styrolution, the leading global styrenics supplier. The sale includes two facilities with annual production capacities of 200,000 tons each, located in Ningbo, Zhejiang Province, and Foshan, Guangdong Province. Partners Guo Min and David Boitout are leading the transaction, which is subject to the approval of regulatory authorities.

Gide has also advised Legrand on its purchase of Shenzhen Clever Electronic, the Chinese leader in intelligent PDUs4 for data centres. Shenzhen Clever Electronic thus rounds out Legrand’s product offerings in a high added-value segment, where it is already number one in the US with its Raritan and Server Technology brands. Partner David Boitout led the firm’s team in the transaction.

J Sagar Associates has advised Shriprop Properties and its promoters on a private equity investment of approximately Rs1.8 billion (US$24.7m) in SPPL by DRI India, Mitsubishi’s real estate investment arm. A Shriram Properties group company, SPPL is developing a residential project titled Shriram Park 63, comprising of 1,450 apartments situated on the GST Road in Chennai. Partners Gerald Manoharan and Mary Julie John led the firm’s team in the transaction.

J Sagar Associates has also advised Sistema Asia Fund, a Singapore-based venture capital fund which invests in high-tech companies in India and Southeast Asia, on its investment in Series C5 round of funding in Faaso’s Food Services. Faaso’s is an on-demand food delivery start-up, which also owns and operates an online food delivery platform. Faasos, which runs on a cloud-kitchen model, retails multiple in-house food brands, such as Behrouz Biryani and Oven Story Pizza, on its mobile application and other food-ordering platforms, including Swiggy and Zomato. The other investors who participated in this round included Sequoia Capital, Lightbox Ventures, Ru-Net South Asia and Evolvence India Fund. The proceeds of the investment will be used by Faasos for expansion. The total investment in this round was approximately US$12 million. Partner Sidharrth Shankar led the firm’s team in the transaction.

Khaitan & Co has advised RR Kabel (RRK), Ram Ratna Electricals (RRE) and their promoters on the acquisition by TPG Asia VII SF of a 21 percent stake in RRK and RRE, through a primary subscription of compulsorily convertible preference shares and secondary transfers from the promoters of RRK to TPG. RRK is the flagship company of RR Global, founded by the Kabra family. Headquartered in Mumbai, RRK has emerged as one of the leading and fastest-growing wires and cables manufacturers in India. RRE was recently launched as an adjacent consumer appliances business that includes fans, lighting equipment, switches, water heaters, and air coolers, and is one of the leading conglomerates in the electrical and copper industry. Partner Bhavik Narsana led the firm’s team in the transaction.

Khaitan & Co has also acted as Indian counsel to the book-running lead managers on the filing of the draft red herring prospectus for the proposed IPO by Angel Broking for up to Rs6 billion (US$82.5m). Angel Broking is one of the largest independent full-service retail broking house in India, in terms of active clients on NSE as of July 31, 2018. Partner Abhimanyu Bhattacharya led the firm’s team in the transaction.

Morrison & Foerster is advising GLP, the leading global provider of modern logistics facilities and technology-led solutions, on the establishment of a new US$2 billion fund in China with Singapore sovereign wealth fund GIC. The US$-denominated value-add venture will focus on income-generating logistics facilities in China, in line with GLP’s fund management strategy. Singapore partners Eric Piesner and Shirin Tang, supported by Hong Kong tax partner Matthew Lau, Hong Kong corporate partner Marcia Ellis and Beijing corporate partner Sherry Yin, are leading the firm’s team in the transaction.

Rajah & Tann Singapore has advised MetLife Innovation Centre (also known as Lumenlab) on the development of its smart blockchain-enabled insurance system branded as “Vitana”. Vitana is Singapore’s first automated insurance solution using blockchain technology to offer pregnant women financial protection in case of gestational diabetes, without ever needing to make a claim. Partners Elaine Tay and Benjamin Cheong led the firm’s team in the transaction.

Sidley Austin is representing China Reinsurance on its agreement with The Hanover Insurance Group to purchase 100 percent equity interest of Chaucer. London insurance partner Martin Membery, supported by Beijing partner Henry Ding, is leading the transaction, which was announced on September 13, 2018.

Shearman & Sterling has advised Goldman Sachs (Asia), CLSA, UBS AG Hong Kong Branch and Guotai Junan Securities (Hong Kong) as underwriters on the US$110 million global offering and IPO of Hua Medicine in Hong Kong. The offering was one of the first biotech company deals admitted for listing under the Chapter 18A regime introduced by the Stock Exchange in April 2018. Hua Medicine priced its offering at HK$8.28 (US$1.05) per offer share and offered approximately 104.7 million global offering shares, subject to the overallotment option. Founded in 2011, Shanghai-based Hua Medicine is a leading, innovative development company, currently focused on developing a global first-in-class oral drug for the treatment of Type 2 diabetes, and a potential novel drug candidate for the treatment of Parkinson’s disease levodopa-induced dyskinesia. Partners Matthew Bersani and Colin Law, supported by New York IP transactional partner Jordan Altman, led the firm’s team in the transaction.

Skadden has advised NIO, China’s leading developer of high-performance electric vehicles, on its US$1 billion IPO of American Depositary Shares and listing in New York. NIO will use the proceeds to invest in technology, infrastructure and research and development. Trading commenced on September 12, 2018. Hong Kong partners Julie Gao and Will Cai led the firm’s team in the transaction.

Sullivan & Cromwell is representing Goldman Sachs as financial adviser to US-based MPM Holdings (Momentive) on its definitive merger agreement with SJL Partners (South Korea), KCC (South Korea) and Wonik QnC (South Korea), whereby the investor group will acquire Momentive in a transaction valued at approximately US$3.1 billion. New York corporate partner Stephen Kotran is leading the firm’s team in the transaction, which was announced on September 13, 2018.

WongPartnership has acted for Healthscope on its divestment of its pathology laboratories business in Singapore, by way of the sale of all the shares in Quest Laboratories, as part of Healthscope’s overall divestment of its Asian pathology businesses, for a total of A$279 million (US$201.3m). Partners Chan Sing Yee, Ameera Ashraf and Kylie Peh led the firm’s team in the transaction.

WongPartnership has also advised Big Bus Tours on the acquisition of Singapore Ducktours, Big Bus Singapore City Sightseeing and Tourist Information & Services, through its wholly-owned subsidiary Big Bus Tours SG. Partners Dawn Law and Jeffrey Lim led the firm’s team in the transaction.

Allen & Gledhill has advised Singtel Group Treasury (SGT) and Singapore Telecommunications (Singtel) on the issue of US$500 million 3.875 percent notes due 2028, under the S$10 billion (US$7.26m) guaranteed euro medium term note programme by SGT. The programme was guaranteed by Singtel. Partners Yeo Wico, Bernie Lee, Sunit Chhabra, Tan Wee Meng and Yeo Boon Kiat led the firm’s team in the transaction.

Allen & Gledhill has also advised Bank of America National Association Singapore Branch, Commerzbank Aktiengesellschaft Luxembourg Branch, The Hongkong and Shanghai Banking Corporation and United Overseas Bank, as lead arrangers and book-runners, and ING Bank Singapore Branch, as lead arranger, on the US$420 million syndicated loan facility to Agricultural Bank of China Singapore Branch. Partner Aloysius Ng led the firm’s team in the transaction.

AZB & Partners is advising the Aditya Birla Group on the Rs980 million (US$13.5m) acquisition by Varde Partners and its affiliates of a 50 percent joint controlling stake in Aditya Birla ARC. Partners Ashwath Rau (corporate), Kashish Bhatia (corporate), Pallabi Ghosal (funds) and Rahul Rai (competition) are leading the firm’s team in the transaction, which was signed on August 29, 2018 and is yet to be completed.

AZB & Partners has also advised Cotecna Inspection on its acquisition of the 100 percent share capital of Shiva Analyticals (India). Partner Srinath Dasari led the firm’s team in the transaction, which was completed on September 5, 2018.

Baker McKenzie has advised Chong Hing Bank on a rights issue of up to 361.3 million rights shares, on the basis of one rights share for every two shares, at HK$14.26 (US$1.82) per rights share, raising up to approximately HK$5.15 billion (US$656m). Separately, the bank has allotted and issued to Guangzhou Metro Investment Finance (HK), which is wholly-owned by Guangzhou Metro Group, approximately 70.13 million subscription shares at HK$14.26 (US$1.82) per share. A total of up to HK$6.15 billion (US$783.5m) is expected to be raised by both the subscription and the rights issue. The bank intends to use the proceeds to strengthen its capital base and further support the continuing growth of its business. DBS Asia Capital and Nomura International (Hong Kong) are the joint coordinators for the subscription and financial advisers to the rights issue. Hong Kong partners Christina Lee and Dorothea Koo led the firm’s team in the transaction, while Sullivan & Cromwell advised the bank on the subscription of new shares. Norton Rose Fulbright advised DBS Asia Capital and Nomura International (Hong Kong).

Baker McKenzie has advised Perusahaan Listrik Negara (Persero) (PLN) on a revolving credit facility and a term loan facility at a total value of US$1.5 billion, with a greenshoe option of up to US$500 million. This deal is the first large-scale syndicated offshore financing for the Indonesian state-owned power company. The loan facilities will be used by PLN for capital expenditure and general corporate purposes. The original mandated lead arrangers of this deal comprise of Australia and New Zealand Banking Group, Bank of China (Hong Kong), Citigroup Global Markets Singapore, Mizuho Bank, Oversea-Chinese Banking Corporation, Sumitomo Mitsui Banking Corporation (Singapore Branch), Bank Sumitomo Mitsui Indonesia and United Overseas Bank. Partner Mita Guritno at Baker McKenzie’s Indonesian member firm HHP Law Firm and principal Kah Chin Chu at Singapore member firm Baker McKenzie Wong & Leow led their respective firm’s team in the transaction.

Clayton Utz has advised Healthia on the successful merger of its My FootDr Podiatry and Allsports Physiotherapy businesses and the launch of Healthia’s IPO and listing in Australia. Queensland-based Healthia operates an integrated portfolio of allied health businesses Australia-wide, including My FootDr, Allsports Physiotherapy, Extend Rehabilitation, iOrthotics and DBS Medical Supplies. Its chair is well-known entrepreneur Glen Richards, former CEO and founder of veterinary services provider Greencross. The funds raised from the offer will be used to grow the business, which began with a single clinic in 2004, to over 100 clinics operating around Australia. On listing, Healthia will have an indicative market capitalisation of approximately A$63 million (US$44.7m). Corporate partner Stephanie Daveson led the firm’s team in the transaction, which was completed on September 11, 2018.

Conyers has advised Odfjell Drilling on a preference share and warrant issuance to an affiliate of Akastor, subject to the approval of Odfjell’s shareholders. The proceeds of this transaction will assist Odfjell in purchasing the drilling unit formerly called “Stena MidMax” from Samsung Heavy Industries for US$505 million. The drilling unit, which is purposely built for harsh environment areas, will be renamed “Deepsea Nordkapp”. Odfjell intends to finance the purchase of the drilling unit through the proceeds of a recent US$175 million private placement of common shares, the proceeds of the issuance of the preference shares, and a contemplated US$325 million senior secured term loan facility, as well as a seller’s credit from the ship yard of US$48.25 million. Bermuda corporate director Guy Cooper led the firm’s team in the transaction, which was completed on July 31, 2018.

Cyril Amarchand Mangaldas has advised CreditAccess Grameen as the issuer and CreditAccess Asia as the promoter selling shareholder on CreditAccess Grameen’s IPO of approximately 26.8 million equity shares with face value of Rs10 each (US$0.137) for cash at Rs422 (US$5.81) per equity share, including a share premium of Rs412 (US$5.67) per equity share, aggregating to approximately Rs11.3 billion (US$155.5m), comprising a fresh issue of approximately 14 million equity shares aggregating to Rs6.3 billion (US$86.7m) by the company and an offer for sale of approximately 11.9 million equity shares by the promoter selling shareholder and such offered shares, aggregating to approximately Rs5 billion (US$68.8m). Bangalore capital markets partners Arjun Lall and Vijay Parthasarathi led the firm’s team in the transaction. Clifford Chance and L&L Partners acted as international and domestic counsel, respectively, to ICICI Securities, Credit Suisse Securities (India), IIFL Holdings and Kotak Mahindra Capital as the book-running lead managers.

Duane Morris & Selvam has advised JULES Corporation on its issue of preferred rights securities tokens, making it the first software technology education company in Singapore to issue a unique hybrid securities token offering financing programme. The preferred rights securities tokens are specifically designed to cater to venture capital and private equity funds and accredited investors seeking to invest in companies with blockchain-enabled technology. The multi-million-dollar securities token fundraising programme incorporates both equity type features for investing in early-stage companies and securitised convertible debt features for asset-backed type investments.

J Sagar Associates has advised Stanley Lifestyles and the promoters of the Stanley Group on Stanley Lifestyles’ first round of private equity funding by primary and secondary transactions to Oman India Joint Investment Fund. Stanley Lifestyles makes high-end leather and non-leather furniture and does contract manufacturing for various high-end furniture brands, in addition to making leather and non-leather accessories for the auto industry. Partners Vivek K Chandy and Archana Tewary led the firm’s team in the transaction. AZB & Partners, led by partners Sai Krishna Bharathan, Vivek Bajaj, Nandan Pendsey and Samir R Gandhi, advised Oman India Joint Investment Fund.

J Sagar Associates has also acted for Reliance Infrastructure (RInfra) on its successful completion of the sale of its integrated Mumbai Power Division, comprising of electricity generation, transmission and distribution business, to Adani Transmission for Rs188 billion (US$2.6b), of which Rs138 billion (US$1.9b) received upfront has been utilised for the reduction of debt liabilities of RInfra and the remaining amount of approximately Rs50 billion (US$688m) will flow to RInfra subsequently towards regulatory assets under approval. This is the largest ever debt reduction for any company in India’s power sector. Joint managing partner Dina Wadia and partner Manav Raheja, supported by partners Amitabh Kumar and Vaibhav Choukse, led the firm’s team in the transaction.

Khaitan & Co has advised HIL on the €72.3 million (US$83.7m) acquisition of the entire shareholding of Parador Holdings from its existing shareholders NORD Holding, Deutsche Mittelstandsholding, Lubert Winnecken and Hendrik Voß. Formerly known as Hyderabad Industries, HIL is a flagship group company of CK Birla Group. HIL is a pioneer of green building materials, producing durable roofing solutions, panels, walling blocks, plywood substitutes, high quality pipes and fittings, and industrial insulation. Partners Haigreve Khaitan and Niren Patel, supported by partners Bijal Ajinkya (direct tax) and Peshwan Jehangir (enforcement), led the firm’s team in the transaction.

Khaitan & Co has also advised Reliance Nippon Life Asset Management (RNAM) on the subscription to the first secured, listed, rated, redeemable, non-convertible debt securities, on private placement basis, issued by India Grid Trust an INVIT, aggregating to Rs2.5 billion (US$34.4m). Security included charge over receivables from its investments in various power transmission subsidiaries. The transaction is the first issue of debt securities by an infrastructure investment trust registered with the SEBI. The deal paves the way for other infrastructure investment trusts and real estate investment trusts to undertake issue of debt securities, both on public and private basis, in the future. Formerly known as Reliance Capital Asset Management, RNAM is the asset manager of Reliance Mutual Fund (RMF). Reliance Capital and Nippon Life Insurance are the promoters of RNAM and currently hold 85.75 percent of its total issued and paid-up equity share capital. Equity shares of RNAM are listed in India​. Partner Manisha Shroff led the firm’s team in the transaction.

Norton Rose Fulbright is advising POSCO on its US$280 million acquisition of a package of Argentinean lithium tenements from Galaxy Resources. POSCO and Galaxy executed binding definitive documentation on August 27, 2018, with completion of the transaction expected to occur in Q4 2018. Korea-listed POSCO, one of the world’s largest steel producers, will acquire the tenements in the northern basin of the Salar del Hombre Muerto region of Argentina. Australia-listed Galaxy will retain the tenements located in the southern portion of its Sal de Vida Project. Perth M&A partner Adam Edelman and Vancouver corporate partner John Kim, supported by Vancouver securities partner David Hunter, are leading the firm’s team in the transaction.

Rajah & Tann Singapore is advising social media giant Facebook on its S$1.4 billion (US$1b) first-in-Asia data centre in Singapore. The landmark Singapore data centre is located in Tanjong Kling (formerly known as Data Centre Park) and will be an 11-storey, 1.8 million square feet facility estimated to start operations in 2022, and is completely powered by renewable energy and new statepoint liquid cooling system, which minimises power and water consumption. It also features a facade made out of a perforated lightweight material. The negotiations involve Jurong Town Corporation, Public Utilities Board, Info-communications Media Development Authority and the Economic Development Board. Partners Rajesh Sreenivasan, Norman Ho and Shemane Chan are leading the firm’s team in the transaction.

Rajah & Tann Singapore has also advised TEE International on its joint venture with the private equity arm of Dymon Asia Capital (Singapore) to acquire the biohazardous waste, cytotoxic waste and pharmaceutical waste treatment business of SembCorp Environment. The TEE group is principally focused on engineering, real estate and infrastructure businesses. Partners Danny Lim and Chia Lee Fong led the firm’s team in the transaction.

Shook Lin & Bok has acted for Shanghai Decent Investment (Group), a Tsingshan group company, on its collaboration with Nickel Mines to, inter alia, construct and operate a two-line rotary kiln electric furnace plant within the Indonesia Morowali Industrial Park, situated in Sulawesi, Indonesia. The total plant investment is expected to be US$200 million. Partner Johnny Lim led the firm’s team in the transaction.

S&R Associates has advised HT Media on its Rs100 million (US$1.37m) investment in ten percent of the equity shares of Editorji Technologies, a company promoted by Vikramaditya Chandra, that owns and operates a platform for creation and distribution of personalised video, news and related content through electronic means. Partner Radhika Iyer led the firm’s team in the transaction.

Wong & Partners, the member firm of Baker McKenzie in Malaysia, has advised WeChat Pay Malaysia, a subsidiary of Tencent Holdings, on its successful application to the Central Bank of Malaysia for an e-money licence for its landmark and innovative ringgit-denominated mobile wallet platform in Malaysia. WeChat Pay Malaysia enables users to conduct peer-to-peer transfer of funds and to make payments to partner merchants and many other functionalities. WeChat has over one billion daily monthly users worldwide. The Malaysian market is the first market in the world, beyond China and Hong Kong, to issue local currency denominated WeChat Pay e-wallet. Partner Brian Chia led the firm’s team in the transaction.

WongPartnership is acting for WL Holdco, an affiliate of Navis Capital Partners, on the S$13.3 million (US$9.6m) sale to CES WL, a wholly owned subsidiary of Chip Eng Seng Corporation, of 70 percent of the issued share capital of White Lodge Education Group Services. Partners Vivien Yui and Anna Tan led the firm’s team in the transaction.

Allen & Gledhill has advised Temasek Financial (IV) on the establishment of a S$5 billion (US$3.6b) guaranteed medium term note programme, guaranteed by Temasek Holdings. The firm also advised DBS Bank as arranger of the programme and DBS Bank, The Hongkong and Shanghai Banking Corporation Singapore Branch, Oversea-Chinese Banking Corporation, Standard Chartered Bank, Standard Chartered Bank (Singapore) and United Overseas Bank as dealers of the programme. The programme allows for notes to be offered to retail investors in Singapore, pursuant to the regulatory frameworks introduced by the Monetary Authority of Singapore and the Singapore Exchange Securities Trading in May 2016, to facilitate retail access to debt securities. Partners Yeo Wico, Jeanne Ong, Wu Zhaoqi, Margaret Chin, Daselin Ang and Sunit Chhabra led the firm’s team in the transaction.

AZB & Partners is advising Tata Motors on the acquisition by Tata Advanced Systems of the defense business of Tata Motors for Rs1 billion (US$14m) and of 100 percent of Tata Motors’ shareholding in its wholly-owned subsidiary TAL Manufacturing Solutions for Rs6.25 billion (US$90.8m). Partners Ashwin Ramanathan and Rushabh Maniar are leading the firm’s team in the transaction, which was signed on May 3, 2018 and is yet to be completed.

AZB & Partners is also advising Gerdau on the acquisition by Blue Coral Investment Holdings and MountainPeak Investment Holdings, a special purpose vehicle of Asian PE fund ADV Partners, of 100 percent of the representative participation of Gerdau in Gerdau Hungria KFT Y CIA Sociedad Regular Colectiva, which owns 98.89 percent of Gerdau Steel India. The deal has an enterprise value of Rs8.45 billion (US$118m). Partners Sai Krishna Bharathan, Vivek Bajaj and Bhuvana Veeraragavan are leading the firm’s team in the transaction, which was signed on August 24, 2018 and is yet to be completed.

Cyril Amarchand Mangaldas has advised ConnectWise on the US$3 million sale by HashInclude Computech of its business division, as a going concern on a slump sale basis and on a debt free / cash free basis, to ConnectWise. New Delhi corporate partner Manishi Pathak, supported by New Delhi intellectual property partner Ranjan Negi and New Delhi tax partners SR Patnaik and Mekhla Anand, led the firm’s team in the transaction, which was signed on July 22, 2018. Holland & Knight advised HashInclude Computech.

Cyril Amarchand Mangaldas has also advised YES Bank as the lender on the financing of India’s first national highway project undertaken on toll, operate and transfer basis, comprising of nine national highway stretches in the states of Andhra Pradesh, Orissa and Gujarat to be undertaken by nine SPVs, which are the borrowers promoted by Macquarie Asia Infrastructure Investments 2. The funding came thru three rupee term loan facilities aggregating to Rs61 billion (US$853m), for financing the upfront concession fees payable to the National Highways Authority of India, meeting the costs to be incurred for initial improvement works of the project highways, first major maintenance expenditure and for other transaction-related costs. The documents were executed on August 22, 2018, while the facility was disbursed on August 27, 2018. The project is one of the largest foreign direct investment in public infrastructure in India and the single largest in India’s road sector. Mumbai project financing partners Amey Pathak and Subhojit Sadhu led the firm’s team in the transaction, while Baker McKenzie acted as offshore counsel. Bharucha & Partners advised the Macquarie Group, while HSA Advocates advised the National Highways Authority of India.

J Sagar Associates has advised SaaSforce Consulting, a leading boutique Salesforce consulting company, on the sale of its entire shareholding to Cognisant Technology Solutions India, a company which provides IT services, including digital, technology, consulting and operations services. SaaSforce Consulting provides services on customer relationship management platform and product ecosystem, including the Salesforce ecosystem. Partners Upendra Nath Sharma and Pallavi Puri, supported by partner Kumarmanglam Vijay, led the firm’s team in the transaction, which is scheduled to close in early October. Cognisant Technology Solutions India was advised by Nishith Desai Associates.

J Sagar Associates has also advised Edelweiss Financial Services and IIFL Holdings as book-running lead managers on the proposed IPO of Studds Accessories. Studds filed a draft red herring prospectus on August 24, 2018 with the Securities and Exchange Board of India for an IPO comprising of a fresh issue of equity shares aggregating up to Rs980 million (US$13.7m) and an offer for sale of up to approximately four million equity shares by certain Studds existing shareholders. Studds is the largest manufacturer of two-wheeler helmets in the world, in terms of volume sold in fiscal year 2018. Its flagship brand “Studds” is the largest selling two-wheeler helmet brand in India and is marketed and sold in 21 countries. Partners Vikram Raghani and Arka Mookerjee led the firm’s team in the transaction.

Khaitan & Co has acted as sole counsel to ECL Finance on the public issue of secured redeemable non-convertible debentures aggregating to US$285 million. ECL Finance is a non-banking financial company which engages in lending and financing activities, primarily in India. Partner Manisha Shroff led the firm’s team in the transaction.

Khaitan & Co has also advised Lightbox Ventures, Lightbox Expansion Fund, Kieraya Furnishing Solution and Crescent Enterprises on the Series C2 funding in Kieraya Furnishing Solution by Crescent Enterprises, KA Enterprises and other angel investors. Kieraya Furnishing Solutions rents and leases furniture, furnishing solutions and home appliances. Partner Kartick Maheshwari led the firm’s team in the transaction.

Maples and Calder (Hong Kong) has acted as Cayman Islands counsel to China Mengniu Dairy on its issue of US$500 million 4.25 percent bonds due 2023. The deal closed on August 7, 2018. China Mengniu Dairy and its subsidiaries manufacture and distribute quality dairy products in China, with Mengniu as its core brand. Mengniu’s diversified products range includes liquid milk products, ice cream, milk formula and other dairy products. In March 2014, Mengniu was listed in Hong Kong, making it the first blue chip Chinese dairy product manufacturer. Partner Derrick Tan led the firm’s team in the transaction, while Sullivan & Cromwell (Hong Kong) acted as English and Hong Kong counsel and King & Wood Mallesons acted as China counsel. Linklaters acted as English and Hong Kong counsel, while Jingtian & Gongcheng acted as China counsel to Citigroup Global Markets, Australia and New Zealand Banking Group, Merrill Lynch (Asia Pacific), BOCI Asia, JP Morgan Securities, Coöperatieve Rabobank UA Hong Kong Branch and DBS Bank as the joint lead managers.

Maples and Calder (Hong Kong) has also acted as BVI counsel to Sino-Ocean Land Treasure IV on its offering of US$700 million floating rate notes due 2021, guaranteed by Sino-Ocean Group, a leading large-scale national property developer in China. The securities are listed in Hong Kong. The deal closed on July 31, 2018. Partner Lorraine Pao led the firm’s team in the transaction, while Paul Hastings acted as English and Hong Kong counsel. Linklaters acted as English counsel to HSBC, Goldman Sachs (Asia), UBS, China CITIC Bank International, Shanghai Pudong Development Bank and Industrial Bank as the joint lead managers and to the trustee.

Rajah & Tann Singapore has acted for DeClout on its acquisition of shares in Beaqon and TJ Systems, coupled with a subsequent earn out consideration. DeClout is a global builder of next-generation information and communications technologies companies which invests in, incubates and scales companies to become global or regional market leaders. Its portfolio companies comprise of Procurri, Beaqon, vCargo Cloud and Corous360. Partner Danny Lim led the firm’s team in the transaction.

Weerawong C&P has advised Total Access Communication and its subsidiary DTAC TriNet, leading mobile service providers in Thailand, on the auction of the 1800 MHz spectrum licence held by the Office of The National Broadcasting and Telecommunications Commission. DTAC won the auction for one licence of 2 x 5MHz spectrum bandwidth, covering 1745-1750MHz / 1840-1845MHz, at the final bid price of Bt12.5 billion (US$381.4m). The acquisition of the 1800MHz spectrum, as part of DTAC’s current portfolio, will not only allow DTAC to maintain 2G service for its large base of customers, but will also provide 4G network capacity to serve the massive growth of data usage in Thailand. Senior partner Veeranuch Thammavaranucupt and partner Warathorn Wongsawangsiri led the firm’s team in the transaction.

WongPartnership is acting for Clearbridge BioMedics on its S$6.6 million (US$4.8m) pre-IPO financing and the consolidation of its capital structure, by converting all preferred shares and convertible securities to ordinary shares of Clearbridge BioMedics, in preparation for the potential IPO. Partners Vivien Yui and Lydia Ong are leading the firm’s team in the transaction.

Allen & Gledhill has advised Oversea-Chinese Banking Corporation on the issue of its S$1 billion four percent perpetual capital securities first callable in 2023, under its US$30 billion global medium term note program. The capital securities were issued as Additional Tier 1 capital of OCBC. OCBC was appointed joint lead managers for the capital securities. Partner Glenn Foo led the firm’s team in the transaction.

Allen & Gledhill has also advised the Land Transport Authority of Singapore on the issue of S$1.5 billion (US$1.1b) 3.45 percent notes due 2058, under its S$12 billion (US$8.8b) multicurrency medium term note programme. Partners Margaret Chin, Daselin Ang and Sunit Chhabra led the firm’s team in the transaction.

Ashurst has advised Mitsui & Co on its US$104 million joint acquisition with the Development Bank of Japan of an 8.5 percent stake in FKS Food & Agri. FKS and its subsidiaries are engaged in a diverse range of businesses, including sourcing grains, oilseeds and sugar from around the world, refining sugar and shipping these products to various destinations, primarily in Southeast Asia but also across the Americas, Europe and the Middle East. Under its medium-term management plan, Mitsui has identified “nutrition and agriculture” as a new growth area, and views Southeast Asia as particularly important, in terms of market growth and business expansion potentials. Tokyo partner Tracy Whiriskey, supported by partners Kensuke Inoue (Tokyo), Ronnie King (Tokyo), Simon Brown (Singapore), Ratih (Ipop) Nawangsari (Jakarta), Chin Yeoh (Hong Kong), Alyssa Philips (Brisbane) and Rehana Box (Sydney), led the firm’s team in the transaction.

AZB & Partners is advising Overseas Private Investment Corporation on the Rs875 million (US$12.5m) loan, by way of external commercial borrowing, it extended to WaterHealth International for the installation of water vending machines at Indian railway stations, pursuant to a tender of the Indian Railway Catering and Tourism Corporation. Partners Gautam Saha and Pallavi Meena are leading the firm’s team in the transaction, which was signed on August 16, 2018 and is yet to be completed.

AZB & Partners is also advising Tata Capital Financial Services as the issuer, and Edelweiss Financial Services, A K Capital Services and Axis Bank as the lead managers, on the public issue by Tata Capital Financial Services of secured, redeemable, non-convertible debentures with face value of Rs1,000 (US$14.26) each, and of unsecured, subordinated, redeemable, non-convertible debentures with face value of Rs1,000 (US$14.26) each, aggregating up to R75 billion (US$1b). Partners Varoon Chandra, Lionel D’Almeida and Anand Shah are leading the firm’s team in the transaction, which is yet to be completed.

Baker McKenzie has advised Carlsberg on its acquisition of an additional 25 percent stake in Cambrew, the Cambodian brewer of the iconic Angkor Premium Beer. The transaction gives Carlsberg management control of the business in a beer market that offers appealing long-term growth opportunities. Hong Kong partner Tracy Wut led the firm’s team in the transaction.

Cyril Amarchand Mangaldas has advised KKR India Advisers on its approximately US$530 million majority acquisition of Ramky Enviro Engineers, India’s largest integrated waste management and recycling company with operations in India, South East Asia and Middle East. The deal was signed on August 20, 2018 and is expected to be completed later this year, subject to completion of conditions precedents, including approvals from the Competition Commission of India. Bangalore and Mumbai partners Reeba Chacko, Shishir Vayttaden and Vishak Abraham, supported by Delhi partner Ramanuj Kumar and Mumbai partners Avaantika Kakkar and Bharat Budholia, led the firm’s team in the transaction, which is the first private equity buyout in this sector in India. Simpson Thacher & Bartlett acted as international counsel to KKR, while WongPartnership and Simmons & Simmons advised KKR on Singapore and Middle East legal aspects, respectively, of Ramky Enviro Engineers’ business. Linklegal India Legal Services advised Ramky Enviro Engineers and promoters.

Cyril Amarchand Mangaldas has also advised Volkswagen group entity MAN Trucks & Bus on the acquisition of its FOCC subsidiary in India, MAN Trucks India’s Pithampur factory, by Force Motors. The transaction basically started as an advisory, wherein MAN Trucks & Bus intended to close down the Pithampur factory. However, based on the firm’s suggestion, it was strategised and structured into an asset purchase agreement. Mumbai corporate partner Smruti Shah, supported by Mumbai head of international taxation Daksha Baxi and New Delhi tax partner Mekhla Anand, led the firm’s team in the transaction, which was signed on August 23, 2018 and is expected to close on October 5, 2018.

Dechert has advised Singapore-based venture capital firm Openspace Ventures on the formation and closing of its second venture capital fund at the hard cap of US$135 million. Formerly known as NSI Ventures, Openspace Ventures spun out of private equity manager Northstar in May 2018 and focuses on investments in early-stage technology companies in Southeast Asia. Openspace Ventures manages US$225 million of committed capital from a wide range of global and regional institutional investors. The firm has worked with Openspace Ventures since its inception, including the raising of its first fund. Singapore financial services partner Dean Collins led the firm’s team in the transaction.

HHP Law Firm, a member firm of Baker McKenzie International, with support from Baker McKenzie Wong & Leow in Singapore and Baker McKenzie’s Tokyo office, has advised Japan’s largest financial group, Mitsubishi UFJ Financial Group (MUFG), on its second stage of strategic investment into Bank Danamon Indonesia. On August 3, 2018, MUFG announced that it has completed Stage 2, the acquisition of 20.1 percent of the total issued shares outstanding of Bank Danamon, for US$2.8 billion from Asia Financial Indonesia and other affiliated entities, increasing its ownership in Bank Danamon to 40 percent. The deal was completed shortly after MUFG’s US$1.2 billion acquisition of a 19.9 percent stake in Bank Danamon on December 29, 2017. These transactions will strengthen MUFG’s growth in Asia and Oceania, and also contribute to the development of the banking sector in Indonesia. It is also expected to be the largest outbound investment for Japanese banks in history. HHP Law Firm senior partner Erwandi Hendarta, Baker McKenzie Wong & Leow principal Min-tze Lean and Baker McKenzie’s Tokyo office partner Junya Ae, supported by HHP Law Firm partners Mahardikha Sardjana and Indah Respati and Baker McKenzie Wong & Leow principal Alex Tan, led their respective firm’s teams in the transaction.

J Sagar Associates has advised IDFC Bank, ICICI Securities, IIFL Holdings, Emkay Global Financial Services and YES Securities (India) as the book-running lead managers on the proposed IPO of Senco Gold. Senco filed a draft red herring prospectus on August 21, 2018 with the Securities and Exchange Board of India for an IPO comprising of a fresh issue of equity shares aggregating up to Rs6 billion (US$85.6m). Senco is the largest organised jewellery retail player in the eastern region of India, based on the number of stores with 74. Senco primarily sells gold and diamond jewellery, and also sells jewellery made of silver, platinum and precious and semi-precious stones and metals through a network of 93 showrooms in 72 cities and towns. Partners Vikram Raghani and Arka Mookerjee led the firm’s team in the transaction.

J Sagar Associates has also advised Axis Capital and Edelweiss Financial Services as the book-running lead managers on the proposed IPO of Harsha Engineers. Harsha filed a draft red herring prospectus on August 21, 2018 with the Securities and Exchange Board of India for an IPO comprising of a fresh issue of equity shares aggregating up to Rs3.7 billion (US$52.8m) and an offer for sale of up to 1,325,000 equity shares by certain Harsha existing shareholders. Harsha is the largest manufacturer of precision bearing cages in organised sector in India, in terms of capacity and operations, and among the leading manufacturers of precision bearing cages in the world, in terms of revenue. Partners Vikram Raghani and Arka Mookerjee also led the firm’s team in the transaction.

Khaitan & Co has advised The Hindustan Times on the amalgamation of HT Computers Service, Ivy Talent India and HT Interactive Media Properties with The Hindustan Times. The HT group is involved in mass media activities, including printing and publication of newspapers and periodicals in India, and in radio broadcasting and digital entertainment. Partner Atul Pandey led the firm’s team in the transaction.

Khaitan & Co has also represented Multiplex Association of India before the Supreme Court on a special leave petition (SLP) filed against the order of the High Court of Jammu and Kashmir allowing a public interest litigation petition, inter alia, directing the State and the multiplexes/cinema hall owners in the State not to prohibit cinema goers from carrying their own food articles and water inside the theatre. The SLP was heard on August 10, 2018, and the Court issued notice and passed an ad-interim stay on the High Court’s direction. Partners Haigreve Khaitan, Sanjeev Kapoor, Rajat Jariwal and Chakrapani Misra led the firm’s team in the transaction.

Mayer Brown JSM has advised Mitsubishi on a deal to acquire 25 percent interest in Summit LNG Terminal, which is developing a liquefied natural gas (LNG) receiving terminal in Bangladesh. Under construction off the coast of Bangladesh, the terminal is a floating storage and regasification unit (FSRU), which will receive, store and regasify LNG procured by Petrobangla, the country’s national oil company. The project will start commercial operation in 2019, with a planned LNG import volume of about 3.5 million tonnes per annum. Excelerate Energy will provide the FSRU on a 15-year charter agreement. Singapore partner and global projects group member Nathan Dodd led the firm’s team in the transaction.

Rajah & Tann Singapore has acted for Koufu Group as the issuer and Jun Yuan Holdings as the vendor on the IPO and listing of Koufu in Singapore. Koufu is an established operator and manager of F&B establishments, primarily in Singapore, with a presence in Macau. The IPO and the issuance of cornerstone shares raised gross proceeds of approximately S$74.3 million (US$54.5m), and Koufu has an estimated market capitalisation of S$350 million (US$257m). Partners Chia Kim Huat and Hoon Chi Tern led the firm’s team in the transaction.

Rajah & Tann Singapore has also acted for Kimly on the acquisition of 100 percent of the issued and fully-paid ordinary shares in the share capital of Asian Story Corporation (ASC). The deal features a two-tier consideration structure, with the first tranche at completion in cash and a further earn-out in cash and/or shares. ASC markets and sells a variety of drinks under its “Asian Story” brand, which has a 7.7 percent market share and is the No. 3 brand in the Singapore Asian drink market, and bottled water under its “Simply Water” brand. Partner Hoon Chi Tern led the firm’s team in the transaction.

S&R Associates has advised HT Media on its proposed £24 million (US$31m) media deal, including an equity investment of £17.1 million (US$22m), with London-listed Koovs, an online seller of affordable western fashion in India. Partner Radhika Iyer led the firm’s team in the transaction.

S&R Associates has also advised SAR Group family office on an investment in Mukunda Foods, manufacturer of “DosaMatic” machines. Partner Mohit Gogia led the firm’s team in the transaction.

WongPartnership is acting for Wheelock and Company and its financial adviser, DBS Bank, on the voluntary unconditional general offer for all the issued and paid-up ordinary shares of Wheelock Properties (Singapore), where the company was valued at over S$2.5 billion (US$1.8b). Partners Andrew Ang, Dawn Law and Quak Fi Ling led the firm’s team in the transaction.

Allen & Gledhill has advised Astrea IV on the issue of S$242 million (US$177m) Class A-1 secured fixed rate bonds due 2028, US$210 million Class A-2 secured fixed rate bonds due 2028, and US$110 million Class B secured fixed rate bonds due 2028. The bonds are the first retail bonds in Singapore backed by cash flows from private equity funds. This is the first transaction in Singapore to make private equity accessible to retail investors through a private equity bond structure. Partners Yeo Wico, Jeanne Ong, Andrew Chan, Danny Tan, Ng Wuay Teck and Lim Pek Bur led the firm’s team in the transaction.

Allen & Gledhill has also advised Housing and Development Board on the issue of S$1.2 billion (US$877.2m) fixed rate notes, with S$500 million (US$365.5m) due 2030 and S$700 million (US$511.7m) due 2023, under its S$32 billion (US$23.4b) multicurrency medium term note programme. Partners Margaret Chin and Sunit Chhabra led the firm’s team in the transaction.

AZB & Partners has advised Epiq Capital B on its more than US$5 million acquisition of a minority interest in the equity share capital of Lenskart Solutions from existing shareholder IDG Ventures India I. Partner Srinath Dasari led the firm’s team in the transaction, which was completed on June 28, 2018.

AZB & Partners has also advised The Walt Disney Company on its acquisition of 21CF for approximately US$71.3 billion in stock and cash. Walt Disney will also acquire 21CF’s interest in Sky. Partner Samir Gandhi led the firm’s team in the transaction, which was completed on August 10, 2018.

Colin Ng & Partners has advised Synagie on its IPO in Singapore. The IPO of 43 million invitation shares in Synagie’s capital, at S$0.27 (US$0.197) per share, raised approximately S$11.6 million (US$8.5m) in gross proceeds and S$9.8 million (US$7.2m) in net proceeds. The amount raised will be used for business expansion, including penetrating new geographical locations, investments in information technology capabilities, M&As and working capital. Synagie is Southeast Asia’s leading e-commerce enabler in the ‘body, beauty and baby’ sector, and one of the region’s fastest-growing e-commerce start-up. It is also the fastest-growing e-commerce start-up in Singapore. Partners Tan Min-Li and Stephen Soh led the firm’s team in the transaction.

Cyril Amarchand Mangaldas has advised SPI Cinemas, the largest cinema exhibitor in South India, and its promoters Kiran Reddy (thru SS Theatres) and SV Swaroop Reddy on the acquisition of SPI by PVR. The transaction involves the approximately Rs6.3 billion (US$90.2m) sale by the promoters of 71.69 percent of their shareholding in SPI to PVR, and the merger of SPI into PVR. Pursuant to the merger, SS Theatres will be issued approximately 3.3 percent of PVR’s equity share capital. The deal was signed on August 12, 2018, and the closing of the transfer of shares took place on August 17, 2018. The merger of SPI into PVR is expected to take place within nine to 12 months after the signing. Mumbai partners L Viswanathan, Vandana Sekhri and Ruchira Shroff led the firm’s team in the transaction. PVR was represented by Shardul Amarchand Mangaldas & Co, led by partner Akila Agarwal.

J Sagar Associates has represented ANI Technologies before the Delhi High Court on securing an order for the removal of confidential information and disparaging comments hosted on Hush, a web-based platform which allows employees of an organisation to anonymously post comments, gossip and rumour about their colleagues, bosses, co- workers and culture of the organisation. The court also directed ‘Hush’ to disclose the names of the persons posting the aforesaid comments to the court in sealed cover. Partner Dheeraj Nair led the firm’s team, which represented the client.

J Sagar Associates has also acted for Clix Capital on its maiden issuance of unlisted, rated, unsecured, non-convertible debentures, post the acquisition of Clix Capital (the erstwhile GE Money Financial Services) by Pramod Bhasin, Anil Chawla and AION Capital Partners. The debentures have been issued in two series, aggregating to Rs5 billion (US$71.6m), to Franklin Templeton Mutual Fund, on a private placement basis. The proceeds of the issuance were utilised by Clix Capital for general corporate purposes and on-lending. Joint managing partner Dina Wadia and partner Anjana Potti led the firm’s team in the transaction.

Khaitan & Co has advised the book-running lead managers on the IPO of approximately 25.5milllion equity shares of HDFC Asset Management, through an offer for sale of approximately 8.6 million equity shares by Housing Development Finance and approximately 16.9 million equity shares by Standard Life Investments. HDFC Asset Management acts exclusively as the investment manager to HDFC Mutual Fund. It is the largest asset management company in India, in terms of equity-oriented assets under management since the last quarter of Fiscal Year 2011. Partners Abhimanyu Bhattacharya and Aditya Cheriyan led the firm’s team in the transaction. AZB & Partners, led by partners Varoon Chandra, Rushabh Maniar, Ami Parikh and Lionel D’Almeida, acted as Indian law counsel to HDFC Asset Management.

Khaitan & Co has also advised Hindustan Unilever on the acquisition of the ice cream and frozen desserts business of Karnataka-based Vijaykant Dairy and Food Products, consisting of its flagship brand ‘Adityaa Milk’ and front-end distribution network. Hindustan Unilever is one of the India’s largest fast-moving consumer goods company. Unilever is the leading ice creams and frozen desserts company in the world. In India, Hindustan Unilever markets ice creams and frozen desserts under the Kwality Wall’s and Magnum brands. Partner Nikhilesh Panchal led the firm’s team in the transaction.

Maples and Calder (Hong Kong) has acted as Cayman Islands counsel to Pinduoduo on its offering and listing of 85.6 million ADSs on Nasdaq. Pinduoduo is an innovative and fast growing “new e-commerce” platform that provides buyers with value-for-money merchandise, and fun and interactive shopping experiences. Pinduoduo raised approximately US$1.6 billion. Partner Richard Spooner led the firm’s teram in the transaction, while Skadden, Arps, Slate, Meagher & Flom and King & Wood Mallesons acted as US and China counsel, respectively. Kirkland & Ellis International and Jingtian & Gongcheng acted as US and China counsel, respectively, to Credit Suisse Securities (USA), Goldman Sachs (Asia), China International Capital Corporation Hong Kong Securities and China Renaissance Securities (Hong Kong), as the representatives of the underwriters.

Maples and Calder (Hong Kong) has also acted as Cayman Islands counsel to Hope Education Group on its global offering and listing of approximately 1.67 billion shares, which raised approximately HK$3.2 billion (US$407.7m) in Hong Kong. Hope Education is the second largest private higher education group in China, in terms of number of students. Partner Derrick Kan led the firm’s team in the transaction, while Davis Polk & Wardwell acted as Hong Kong and US counsel and Tian Yuan Law Firm acted as China counsel. Skadden, Arps, Slate, Meagher & Flom and Affiliates acted as Hong Kong and US counsel, while Jingtian & Gongcheng acted as China counsel to Citigroup Global Markets Asia and China Merchants Securities (HK), as the joint sponsors.

Shook Lin & Bok has acted for CapitaLand Retail China Trust Management, as manager of CapitaLand Retail China Trust (CRCT), and HSBC Institutional Trust Services (Singapore), as trustee of CRCT, on the issuance of S$130 million (US$95m) 3.25 percent Series 001 notes due 2022, under the issuer’s S$1 billion (US$731.3m) multicurrency debt issuance programme. Partners Marilyn See and Lian Shueh Min led the firm’s team in the transaction.

Simpson Thacher has acted as sole international counsel to Credit Suisse, The Hongkong and Shanghai Banking Corporation, JP Morgan Securities, Merrill Lynch International, Mizuho Securities Asia, Shinhan Asia and Shinhan Investment, as the dealers on the establishment of the US$5 billion global medium term note program of Shinhan Financial Group, and as the joint lead managers on the offering of US$500 million 5.875 percent Tier I subordinated notes by Shinhan Financial Group under its global medium term note program. Hong Kong partner Jin Hyuk Park led the firm’s team in the transaction.

Wong & Partners, a member firm of Baker McKenzie International, has advised CP Asia Holding on the M$113 million (US$27.5m) sale of its 27.77 percent stake in Frontken to Dazzle Clean, an entity which is indirectly-owned by Singapore-based private equity firm Dymon Asia and Frontken chairman Ng Wai Pin. Malaysia-listed Frontken is an established and leading service provider of surface engineering in the Asia Pacific region. Partner Munir Abdul Aziz led the firm’s team in the transaction, which was completed on August 3, 2018.

Allen & Gledhill has advised Temasek Financial (I) and Temasek Holdings on the issue of US$1.35 billion 3.625 percent guaranteed notes due 2028, under the US$20 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 Public Utilities Board on the issue of S$300 million (US$217.4m) 3.01 percent bonds due 2033. Partners Margaret Chin, Daselin Ang and Sunit Chhabra led the firm’s team in the transaction.

AZB & Partners has advised TPG Asia VII SF, an investment vehicle of TPG Capital Asia, on its acquisition of more than 10 percent equity shares and preference shares of Five-Star Business Finance and also from certain existing minority shareholders. Partners Ashwin Ramanathan and Roxanne Anderson led the firm’s team in the transaction, which was valued at Rs7 billion (US$99.6m) and was completed on August 3, 2018.

AZB & Partners has also advised Kotak Mahindra Bank on its issuance, on a private placement basis, of up to one billion fully paid-up, non-convertible, Basel III compliant, perpetual non-cumulative preference shares. Partner Varoon Chandra led the firm’s team in the transaction, which was valued at Rs5 billion (US$711.3m) and was completed on August 2, 2018.

Clifford Chance has advised the joint sponsors and underwriters, including China International Capital Corporation and Goldman Sachs, on China Tower’s US$6.9 billion IPO and listing in Hong Kong. China Tower is the world’s largest telecommunications tower infrastructure service provider. Hong Kong partner Fang Liu, with partner Amy Lo and Beijing partner Tim Wang, led the firm’s team in the transaction, which is the world’s largest IPO in two years.

Conyers Dill & Pearman has provided Cayman Islands advice to Ocean Line Port Development on its HK$76 million (US$9.7m) IPO of 200 million shares in Hong Kong. Inland terminal port operator Ocean Line provides port logistic services in China. It operates Jiangkou Terminal and Niutoushan Terminal in Chizhou, Anhui Province. The company offers uploading and unloading of cargo, bulk cargo handling, container handling, storage, and related ancillary port services. Incorporated in 2017, it is headquartered in Chizhou, China. Hong Kong partner Lilian Woo led the firm’s team in the transaction, while Michael Li & Co and GFE Law Office advised on Hong Kong law and China law, respectively.

Dhaval Vussonji & Associates has advised Piramal Capital and Housing Finance on the Rs2.07 billion (US$29.5m) financing extended to Wadhwagroup Holdings to fund the construction of its proposed residential project, known as Wadhwa Pristine, at Mahim, Mumbai. In addition to the security of the Wadhwa Pristime project, Wadhwagroup also created a charge, in favour of Piramal, over certain unsold units in its W-54 project at Mahim, Mumbai. Partner Malavika Menon led the firm’s team in the transaction, which was completed in June 2018.

Dhaval Vussonji & Associates has also advised GIC and its affiliates on the Indian law aspects of the Rs21.7 billion (US$308.7m) acquisition by a GIC affiliate of equity in Greenko Energy Holdings, with a resultant aggregate share of approximately 60 percent. Partners Alka Nalavadi, Prashanth Sabeshan and Rahul Rai led the firm’s team in the transaction, which was completed on June 19, 2018.

Eversheds Sutherland has acted for Brockstone on its successful application to the High Court for the appointment of the administrators to Force India Formula One Team. Brockstone, the services company representing Force India driver Sergio Perez, made the administration application to protect the jobs of 400 employees. The administration will also ensure a stable platform to find a buyer for the Silverstone-based team. Restructuring partner Jamie Leader led the firm’s team in the transaction.

J Sagar Associates has successfully represented ATC Telecom Infrastructure on arbitration proceedings against Videocon Telecommunications. The disputes were related to a passive infrastructure sharing agreement, wherein Videocon availed of ATC’s services for provision and upkeep of passive infrastructure in support of Videocon’s telecom services. After Videocon’s default in making payments under the agreement in 2016, ATC asked the Delhi High Court for an interim order for Videocon to deposit the claimed amount in court. The arbitration proceeding for adjudication of the claim was also initiated. On July 31, 2018, the court unanimously awarded outstanding payments, lock-in penalties, reimbursements for municipal charges and taxes, pre-arbitration interest, interest pendente-lite, future interest and costs of arbitration. The tribunal awarded Rs4.57 billion (US$65m) in favour of ATC, along with 15.45 percent simple interest per annum from the date of the award until repayment, along with the costs of Rs11.4 million (US$162,328). Partners Amar Gupta and Divyam Agarwal led the firm’s team in the transaction.

J Sagar Associates has also advised ICICI Securities, Edelweiss Financial Services, IIFL Holdings and JM Financial as book-running lead managers on the proposed IPO of Shyam Metalics and Energy (SMEL). SMEL has filed a draft red herring prospectus on August 6, 2018 with the Securities and Exchange Board of India, for an IPO comprising of a fresh issue of equity shares aggregating up to Rs9.09 billion (US$14m). SMEL is a leading integrated metal-producing company based in India, with a focus on long steel products and ferro alloys. Partners Vikram Raghani and Arka Mookerjee led the firm’s team in the transaction.

Maples and Calder (Hong Kong) has acted as Cayman Islands counsel to Opera on its offering and listing of 9.6 million ADSs on Nasdaq. The deal priced on July 27, 2018 and closed on July 31, 2018. Opera is one of the world’s leading browser providers of integrated AI-driven digital content discovery and recommendation platforms in China. The offer amount of the deal is approximately US$115.2 million. Partner Everton Robertson led the firm’s team in the transaction, while Kirkland & Ellis International and Tian Yuan Law Firm acted as US and China counsels, respectively. Wilson Sonsini Goodrich & Rosati and Zhong Lun Law Firm acted as US and China counsels, respectively, to the CICC, Citigroup and Carnegie as the underwriters.

Maples and Calder (Hong Kong) has also acted as Cayman Islands counsel to Aurora Mobile on its offering and listing of 9.06 million ADSs on Nasdaq, raising approximately US$77 million. Aurora Mobile is a leading mobile big data solutions platform in China. Partner Richard Spooner led the firm’s team in the transaction, while Skadden, Arps, Slate, Meagher & Flom and Han Kun Law Offices acted as US and China counsels, respectively. Simpson Thacher & Bartlett and Haiwen & Partners acted as US and China counsels, respectively, to the representatives of the underwriters, Goldman Sachs (Asia), Credit Suisse Securities (USA) and Deutsche Bank Securities.

Rajah & Tann Singapore is acting for Thai mall owner T B N Property on the proposed transfer, by a scheme of arrangement, of listing status from Memstar Technology to TBN. The transaction is valued at approximately S$106 million (US$76.8m), taking into account the indicative value attributed to TBN and Memstar’s listing status. Partners Danny Lim and Tan Mui Hui are leading the transaction.

Skadden has advised BeiGene (China and Massachusetts, USA), a biopharmaceutical company focused on developing and commercialising innovative molecularly-targeted and immuno-oncology drugs for the treatment of cancer, on its approximately US$903 million IPO in Hong Kong. This is Hong Kong’s largest ever biotechnology IPO to date, and is also the first dual primary listing of a Nasdaq-listed biotechnology company. Trading in the shares commenced on August 8, 2018. Partners Christopher Betts and Andrea Nicolas, supported by partner Pamela Lawrence Endreny, led the firm’s team in the transaction. Sullivan & Cromwell, led by Hong Kong partners Michael DeSombre and Ching-Yang, advised an existing BeiGene shareholder and a cornerstone investor in the offering.

S&R Associates has advised Samar Retail on its acquisition of a controlling interest in Red Apple Kitchen Consultancy, operator of the “Toscano” restaurant chain. Partner Uday Walia led the firm’s team in the transaction.

S&R Associates has also advised Dana on the Indian aspects of its approximately US$600 million proposed acquisition of the drive systems segment of the Oerlikon Group, a global manufacturer with manufacturing facilities, including in India. Partners Rajat Sethi and Radhika Iyer, and competition practice head Simran Dhir led the firm’s team in the transaction, which is subject to customary regulatory approvals.

TT&A has advised 21 Century Fox on successfully securing clearance from the Competition Commission of India on the US$71.3 billion acquisition by The Walt Disney Company of 21 Century Fox, including its film and television studios, along with cable and international TV businesses. Allen & Overy acted as global antitrust counsels to 21st Century Fox.

WongPartnership is acting for Baker Technology on its acquisition, through the purchase of shares from Falcon Energy Group and SZ Offshore investment, of a 52.72 percent stake in CH Offshore, and its mandatory unconditional cash offer for all the remaining ordinary shares in the issued and paid-up capital of CH Offshore. Partners Mark Choy and Lydia Ong led the firm’s team in the transaction.

Allen & Gledhill and Rahmat Lim & Partners have acted as Singapore and Malaysia law counsel, respectively, to Boardroom on its M$164.14 million (US$40.3m) acquisition of Symphony Share Registrars, Malaysian Issuing House, Symphony Corporatehouse and Sky Corporate Services. A&G partners Andrew M Lim, Hilary Low and Daren Shiau and RL&P partner Chia Chee Hoong led their respective teams in the transaction.

Allen & Gledhill has also advised Bayfront Infrastructure Capital and Clifford Capital on the issue, by Bayfront Infrastructure Capital, of US$320.6 million Class A senior secured floating rate notes due 2038, US$72.6 million Class B senior secured floating rate notes due 2038, US$19 million Class C senior secured floating rate notes due 2038, and US$45.8 million subordinated notes due 2038. Clifford Capital was the sponsor and manager for the transaction, and holder of the subordinated notes. All the notes are backed by cash flows from a portfolio of project and infrastructure loans in Asia-Pacific and the Middle East. This transaction is the first infrastructure project finance securitisation in Asia, and marks a significant milestone, with the creation of a new asset class to facilitate institutional investor access to infrastructure debt in Asia-Pacific and the Middle East. Partners Yeo Wico, Jeanne Ong, Danny Tan, Andrew Chan and Sunit Chhabra led the firm’s team in the transaction.

Allen & Overy has advised Pilmico International, the food subsidiary of Philippine conglomerate Aboitiz Group, on its approximately US$400 million acquisition of a 75 percent stake in Gold Coin, one of Asia’s largest agribusinesses, which operates 20 livestock and aqua feed mills across 11 countries in Asia. The transaction is the largest outbound acquisition from the Philippines, and the largest agribusiness acquisition in Southeast Asia in the last few years. The deal was the result of a competitive bid process for the purchase of the target’s shares from its holding company, the Peter Zuellig-backed Golden Springs Group. It is also Pilmico’s largest international investment to date, and marks the expansion of its feed milling business across Asia Pacific. It was part‑funded by financing from MUFG Bank, Mizuho Bank, DBS Bank and Standard Chartered Bank. The firm advised on both the M&A and financing aspects. Corporate partner Alun Evans led the firm’s team in the transaction.

AZB & Partners has advised Thermax and Thermax Babcock & Wilcox Energy Solutions (TBWES) on the acquisition by Thermax of 49 percent shareholding of TBWES from Babcock & Wilcox India Holdings. Partners Ashwin Ramanathan and Roxanne Anderson led the firm’s team in the transaction, which was completed on July 19, 2018.

AZB & Partners has also advised Leapfrog Investments on its acquisition, through special purpose entity Naivasha Investment Holdings Mauritius, of a more than 50 percent majority stake in Ascent Meditech. Partner Srinath Dasari led the firm’s team in the transaction, which was completed on July 15, 2018.

Baker McKenzie FenXun Joint Operation Office has advised Shui On Land on the approximately Rmb4.59 billion (US$672m) sale of a 49.5 percent interest in one of its residential real estate portfolios in Shanghai, to further its strategic partnership with Joy City Property, a member of the COFCO group. The transaction involves a complex A/B share structure, and various operating, holding and joint venture companies in four jurisdictions. A property development company established in 2004 under the Shui On Group, Shui On Land runs projects at prime locations in key cities in Mainland China, many of which are operated under its Xintiandi brand. The COFCO group is one of the largest state-owned enterprises in China, with principal business activities including grain, oil, food, finance and real estate. Joy City is the flagship of COFCO’s real estate business. Partners Alex Gong of Baker McKenzie FenXun Shanghai and Rico Chan of Baker McKenzie Hong Kong led the firm’s teams in the transaction.

Dhaval Vussonji & Associates has advised Piramal Fund Management on its subscription, on a private placement basis, to up to Rs3.75 billion (54.6m) redeemable, secured, non-convertible debentures issued by Omkar Realtors and Developers. Omkar will utilise the proceeds for the repayment of its equity level investors and for expenses to be incurred in the construction and development of Phase II of its Crescent Bay project at Parel, Mumbai. Associate partner Malavika Menon led the firm’s team in the transaction, which was completed in July 2018.

Dhaval Vussonji & Associates has also advised IndusInd Bank on the Rs5 billion (US$73m) funding to Indiabulls Real Estate to refinance certain existing loans and for expenses in Indiabulls Finance Centre Tower 4, situated at Elphinstone Road, Mumbai. Founding partner Dhaval Vussonji and associate partner Malavika Menon led the firm’s team in the transaction, which was completed in June 2018.

K Law has advised Tamil Nadu Infrastructure Fund on the approximately US$600 million contribution, in tranches, by foreign investors, including Treetop Asset Ventures, in the Tamil Nadu Infrastructure Fund. Managing partner Naina Krishnamurthy led the firm’s team in the transaction, the first ranch of which closed in July 2018. DLA Piper advised the investor.

K Law has also advised Kalaari Capital Partners III, IDG Ventures India Fund III and Chiratae Trust on their approximately Rs195 million (US$2.8m) Series A investment in HealthPlix Technologies. The investment was in two tranches of Rs130 million (US$1.9m), which was already completed, and Rs65 million (US$947,094), which is still pending. Partner Shwetambari Rao led the firm’s team in the transaction, which was completed on July 19, 2018. Samisti Legal also advised on the deal.

Khaitan & Co has advised Kalzip Group, part of Tata Steel Europe, on the Indian law aspects of its acquisition by Donges SteelTec, a subsidiary of German Mutares Group. The transaction includes the acquisition of its India subsidiary, Kalzip India. Kalzip Group is the global leader in standing seam roofing and wall cladding system. Partner Rabindra Jhunjhunwala led the firm’s team in the transaction.

Khaitan & Co has also advised Toppan Leefung on the Indian law aspects of its acquisition of the capital markets and compliance business of Merrill Corporation. The transaction includes the acquisition of its Indian subsidiary, Merrill Technology Services India. Formerly called SNP Corporation, Toppan Leefung evolved from what was Singapore National Printers into a wholly-owned subsidiary of Tokyo-listed Toppan Printing, the world’s largest printing conglomerate. Partner Haigreve Khaitan and associate partner Sameer Sah, supported by associate director Vinita Krishnan, led the firm’s team in the transaction.

Rajah & Tann Singapore has advised Moya Holdings Asia on the renounceable non-underwritten rights issue of up to 1.41 billion new ordinary shares in the capital of the company, on the basis of one rights share for every two existing ordinary shares held by existing shareholders, as at a books closure date. The issue raised gross proceeds of up to S$133.5 million (US$98m). The company develops and operates water treatment facilities and pipelines, as well as distributes clean water, primarily in Indonesia. Partner Cynthia Goh led the firm’s team in the transaction.

Shardul Amarchand Mangaldas has advised Tata Advanced Systems (TAS) on the acquisition of the defence business of Tata Power and Tata Motors, pursuant to separate schemes of slump sale under Sections 230-232 of the Companies Act 2013. As a part of the transaction, TAS would acquire 100 percent of the share capital of TAL Manufacturing Solutions and Tata Advanced Materials from Tata Motors and Tata Industries, respectively. The transaction is a part of the consolidation of the defence and aerospace business of the Tata group. This is the first time such a transaction in the defence space has been undertaken. Upon closing of the consolidation, TAS will be the leading private sector defence player in the country. Managing partner Akshay Chudasama and partners Anuj Prasad and Arka Banerjee, supported by partners Shweta Shroff Chopra, Aparna Mehra and Meghna Rajadhyaksha, led the firm’s team in the transaction. AZB & Partners, led by partner Akshay Chudasama, advised Tata Motors, while HSA Advocates, led by partners Aninda Pal and Kunal Rajpal, advised Tata Power.

Shook Lin & Bok has acted as sole Singapore counsel to Kinergy on its global offering and listing in Hong Kong, raising proceeds of approximately HK$250 million (US$32m). Partner Gwendolyn Gn led the firm’s team in the transaction.

Allen & Gledhill has acted as Singapore law counsel to DBS Bank, as the appointed sole issue manager, global coordinator, bookrunner and underwriter, on the IPO and listing of Koufu Group in Singapore, which, together with a cornerstone tranche, raised S$74.3 million (US$54.5m). Partners Tan Tze Gay and Rhys Goh led the firm’s team in the transaction.

Allen & Overy has advised the joint global coordinators and joint lead managers on the issue of US$731 million equivalent dual-currency multiple-tranche senior unsecured green bonds by ICBC (Asia) under its US$6 billion MTN programme. This was the first green bonds issued by a financial institution to have received the Pre-issuance Stage Certificate from the Hong Kong Quality Assurance Agency. The issuance comprises of a US$200 million three-year floating rate green bond, a US$200 million five-year floating rate green bond and a HK$2.6 billion (US$331m) two-year fixed rate green bond. The green bonds are issued under ICBC’s green bond framework, which received a “dark green” shading from the Centre for International Climate Research and an external review opinion from Zhongcai Green Financing Consultants. The green bond framework is aligned to both the international and Chinese domestic standards, including the Clean Development Mechanism under the UN Framework Convention on Climate Change, the ICMA Green Bond Principles and the PBOC Green Bond Categories. The green bonds are listed in Hong Kong. ICBC, Credit Agricole, Agricultural Bank of China, Bank of Communications, Citi, HSBC, Standard Chartered and UBS are the joint global coordinators and joint lead managers of the US dollar green bonds. ICBC, Credit Agricole, HSBC and Standard Chartered are the joint global coordinators and joint lead managers for the HK dollar green bonds. Capital markets partner Agnes Tsang led the firm’s team in the transaction.

Colin Ng & Partners has advised Fund Singapore, a financial institution regulated by the Monetary Authority of Singapore, and Singapore’s premier equity and lending-based crowdfunding company, on the funding of US$1.165 million equity investment for ClearBridge BioMedics, a Singapore bio-medical company. The company is targeting an IPO in the fourth quarter of 2018, and this is part of their US$6.6 million pre-IPO fundraising effort. Partner Christopher Huang led the firm’s team in this transaction.

Dhaval Vussonji & Associates has advised Lucrative Properties, a Shapoorji Pallonji group company, as the development manager, on its development management agreement with Nirmal Developers. Founding partner Dhaval Vussonji led the firm’s team in the transaction, which was completed in April 2018.

Dhaval Vussonji & Associates has also advised Glider Buildcon Realtors, a Piramal group company, on its joint development of a 12-acre plot at Dhobighat with Omkar Realtors Projects and Omkar Realtors Mahalaxmi Project. Founding partner Dhaval Vussonji also led the firm’s team in the transaction, which was completed in May 2018.

J Sagar Associates has advised Piramal Capital and Housing Finance on an Rs6.5 billion (US$95m) structured investment in SAMHI Hotels Group. SAMHI owns 29 hotels across India and has Goldman Sachs as a major investor. The structured investment allowed SAMHI to refinance existing lenders across three SPVs operating the Courtyard and Fairfield by Marriott in Bangalore, the Sheraton in Hyderabad and the Hyatt Regency in Pune. Partner Vivek K Chandy, supported by partner Malini Raju, led the firm’s team in the transaction. SAMHI was represented by Economic Law Partners Mumbai.

J Sagar Associates has also advised the Naspers Group and founders of TekTravels on the proposed sale of 49.99 percent shares of TekTravels (TBO) to Standard Chartered Financial Holdings, part of Standard Chartered Private Equity group. With a presence in over 90 countries, TBO operates an online travel portal catering to the business-to-business segment through its website tbo-group.com, providing end-to-end air travel and hotel booking solutions. Partner Sidharrth Shankar, supported by partner Kumarmanglam Vijay, led the firm’s team in the transaction. Standard Chartered was represented by Cyril Amarchand Mangaldas.

Shook Lin & Bok has acted as sole Singapore counsel to Kinergy Corporation on its global offering and listing in Hong Kong, raising proceeds of approximately HK$250 million (US$32m). Partner Gwendolyn Gn led the firm’s team in the transaction.

Skadden has advised Pinduoduo, a leading new e-commerce platform in China, on its US$1.63 billion listing on the Nasdaq. Pinduoduo is offering 85.6 million American Depositary Shares, each representing four Class A shares. This is one of the largest US IPOs in 2018. Trading in the ADS commenced on July 26, 2018. Partner Julie Gao led the firm’s team in the transaction.

Skadden has also advised Aurora Mobile (JG), a leading mobile big data solutions platform in China, on its US$77 million IPO of American Depositary Shares and listing on the Nasdaq. Trading in the ADS commenced on July 26, 2018. Partner Julie Gao also led the firm’s team in the transaction.

SSEK has advised Indonesian state-owned oil and natural gas corporation Pertamina on the transfer of 51 percent of Pertamina’s shares in its direct subsidiary Pertagas to another Pertamina subsidiary, Perusahaan Gas Negara (PGN). The conditional sale and purchase agreement, valued at US$1.2 billion, was signed on June 29, 2018. With the transfer, PGN will become a subholding company under Pertamina, managing gas from midstream to distribution and marketing. The firm previously assisted the Indonesian Ministry of State-Owned Enterprises and Pertamina on the establishment of an oil and gas holding state-owned company, which resulted in an additional US$2.7 billion in capital owned by the government in Pertamina. Founding partner Ira A Eddymurthy and partner Dewi Savitri Reni led the firm’s team in both transactions.

Allen & Gledhill has acted as co-transaction counsel to IHH Healthcare on its US$1.1 billion acquisition, through a combination of primary equity infusion and secondary purchase, of a controlling stake in Fortis Healthcare from the shareholders of Fortis. Partners Tan Su May, Christopher Koh, Mark Quek, Andrew Yeo, Vincent Leow, Ankit Goyal, Foong Yuen Ping, Teh Hoe Yue, Daren Shiau and Scott Clements led the firm’s team in the transaction.

Ashurst is acting for Indonesia Asahan Aluminium (also known as Inalum), an Indonesian state-owned company, on its US$3.85 billion acquisition from Rio Tinto of a 40 percent majority stake in Grasberg, the world’s second-largest copper mine. After the transaction, Inalum’s stake in the Grasberg mine will increase from nine percent to 51 percent, giving Indonesia control of the mine. Corporate partners Simon Brown (Singapore) and Ipop Nawangsari (Jakarta) are leading the firm’s team in the transaction.

AZB & Partners has advised Sterlite Technologies and its wholly-owned subsidiary Sterlite Italy on the acquisition by Sterlite Technologies, through Sterlite Italy, of 100 percent of the share capital of Metallurgica Bresciana from Compagnia Brescia Investimenti. Partner Anand Shah led the firm’s team in the transaction, which was valued at Rs3.8 billion (US$55m) and was completed on July 20, 2018.

AZB & Partners is also advising Wipro on its approximately Rs8.04 billion (US$116.6m) acquisition of 100 percent equity share capital of Alight HR Services India. Partners Srinath Dasari and Bhuvana Veeraragavan are leading the firm’s team in the transaction, which was signed on July 19, 2018 and is yet to be completed.

Conyers Dill & Pearman has acted as Cayman Islands and BVI counsel to Steve Leung Design Group on its HK$250.8 million (US$32m) IPO of 285 million shares in Hong Kong. Founded in 1997 and headquartered in Kowloon Bay, Hong Kong, the company is an internationally renowned and award-winning interior design, interior decorating and furnishing services provider, with offices in Shenzhen, Guangzhou, Beijing, Shanghai and Chengdu in China. The company is known for undertaking residential, private residence and hospitality projects for the high-end market in China and Hong Kong. Hong Kong partner Anna Chong, working alongside Pinsent Masons, led the firm’s team in the transaction, which was completed on July 9, 2018.

Conyers Dill & Pearman has also acted as BVI and Cayman Islands counsel to Anchorstone Holdings on its HK$120 million (US$15.3m) IPO of 300 million shares in Hong Kong. The company is a leading and well-established subcontractor, specialising primarily in supply and installation of marble and granite for construction projects. The company was founded in 1991 and is based in Causeway Bay, Hong Kong. Hong Kong partner Richard Hall, working alongside Robertsons, led the firm’s team in the transaction, which was completed on July 9, 2018.

Cyril Amarchand Mangaldas has advised the Committee of Creditors (CoC) of Monnet Ispat & Energy, comprising of 40 financial creditors, on the corporate insolvency resolution process (CIRP), which led to the sale of the company to a consortium, comprising of AION Investments Private II and JSW Steel. It is the third of the dirty dozen cases, referred by the Reserve Bank of India for initiating the CIRP under the Insolvency and Bankruptcy Code 2016, to be resolved, with 98.97 percent of the financial creditors voting in favour of the resolution plan. The firm had also originally represented State Bank of India on the initiation of CIRP against the company on July 2017. Mumbai and New Delhi infrastructure and project financing partners L Viswanathan and Spandan Biswal led the firm’s team in the transaction. AION Investments Private II and JSW Steel were represented by Shardul Amarchand Mangaldas.

J Sagar Associates has advised UPL on the proposed acquisition by its wholly-owned subsidiary UPL Corporation (UPL Corp) of Arysta LifeScience and its subsidiaries for US$4.2 billion. The transaction is backed by a US$1.2 billion equity investment in UPL Corp from long-term investors, including a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and TPG, a leading global alternative asset firm. UPL Corp has received US$3 billion debt financing commitments from MUFG Bank and Cooperatieve Rabobank for the balance of the consideration. UPL is one of the leading global crop protection products companies headquartered in India. Following the acquisition, UPL will be one of the world’s largest global crop protection companies, with an innovative and differentiated product portfolio. Partner Lalit Kumar, supported by partners Aashit Shah and Utsav Johri, led the firm’s team in the transaction, which is subject to the satisfaction of customary closing conditions and regulatory approvals. Jones Day acted as external counsel to UPL Corp. Cleary Gottlieb and Platinum Partners are acting as external counsel to the Abu Dhabi Investment Authority and TPG. UBS and Barclays are the financial advisers to Platform, with Greenberg Traurig as external counsel to Platform.

J Sagar Associates has also advised Safal Constructions and its affiliates (BSafal Group) on its 50.50 joint venture with Phoenix Mills (PML) to develop a premium retail development in Ahmedabad under the brand “Palladium Mall”. The JV will develop a premium retail destination, comprising of shops, multiplex, restaurants and entertainment zone as Phase I, spread over approximately 600,000 square feet. Phase II development, which shall include offices, hotels and other commercial establishments, could possibly commence by mutual agreement by parties. Both parties will invest approximately Rs2.3 billion (US$33.4m) each for their 50 percent stake in the JV. The JV entities involved in this transaction are SGH Realty, True Value Infrabuild, Zaveri, Ausom Enterprise and KIFS Infrastructure. Partner Bijal Chhatrapati led the firm’s team in the transaction. Phoenix Mills was advised by Cyril Amarchand Mangaldas Mumbai.

Khaitan & Co has acted as Indian law counsel to family-owned investment management company Berwind on the acquisition of WH Acquisitions, the parent company of Maxcess International, along with their respective subsidiaries, from Bertram Capital. With its roots dating to 1886, Berwind has evolved from a coal mining company to a diversified portfolio of highly successful manufacturing and service companies, which are leaders in their market niche. Partner Rabindra Jhunjhunwala, supported by partner Anshul Prakash, led the firm’s team in the transaction.

Khaitan & Co has also advised Astral Poly Technik on its Rs75.2 million (US$1m) acquisition of a 51 percent stake in Rex Polyextrusion and the subsequent amalgamation of Rex into Astral, subject to the approval of the NCLT. Astral was established in 1996 to manufacture pro-India plumbing and drainage systems in the country. Rex is an industry leader in manufacturing and supply of corrugated pipes and other plastic piping solutions on a pan-India basis. Partner Anand Mehta, supported by partner Sanjay Sanghvi, led the firm’s team in the transaction. J Sagar Associates, led by partners Nitin Potdar, Rinku Ambekar and Ongmu Tshering, advised Rex Polyextrusion.

K&L Gates has advised VietJet on purchase agreements with both Boeing and Airbus for a total of 150 aircraft, valued at nearly US$20 billion at current list prices. VietJet is Vietnam’s first privately-owned airline and is also the first low-cost carrier in the country. The airline is in the midst of bolstering its world-class fleet with highly efficient and capable airplanes that will allow for expansion of its regional network. On July 18, 2018 at the Farnborough International Airshow in England, VietJet signed a memorandum of understanding with Boeing for an additional 100 737 MAX airplanes. The agreement is valued at more than US$12.7 billion at current list prices. Once the deal is completed, VietJet will become the largest MAX 10 customer in Asia. On July 19, 2018, VietJet also signed a provisional deal to buy 50 A321neo Airbus aircraft worth US$6.5 billion at list prices at the Farnborough Airshow. London aviation finance partner Philip Perrotta, supported by aviation finance partners Sidanth Rajagopal (London) and James Bradley (Singapore), led the firm’s team in the transaction.

Luthra & Luthra has advised Global Infrastructure Partners (GIP) on its acquisition of the infrastructure fund management business of IDFC Alternatives. The deal involves the management of India Infrastructure Fund I and India Infrastructure Fund II, which have a combined corpus of more than US$1.4 billion. The transaction has resulted in GIP commencing fund management activities in India, with a significant presence and a highly experienced local investment team. GIP is an independent, specialist infrastructure fund manager, whose investment approach is based on combining industry expertise with industrial best practice operational management. Currently, GIP has more than US$40 billion assets under management. Partners Amit Shetye and Lokesh Shah, supported by partner Sundeep Dudeja and senior partner Mohit Saraf, led the firm’s team in the transaction.

Maples and Calder (Hong Kong) has acted as Cayman Islands counsel to 51 Credit Card, the largest P2P lending platform for credit card holders in China, on its global offering and listing of shares in Hong Kong. 51 Credit Card is offering approximately 118.7 million shares, with gross proceeds of approximately HK$1 billion (US$127.4m). Partner Derrick Kan led the firm’s team in the transaction, while Davis Polk & Wardwell acted as Hong Kong and US counsel. Freshfields acted as Hong Kong and US counsel to Citi, China Merchants Securities and CLSA as the joint sponsors.

Maples and Calder (Hong Kong) has also acted as Cayman Islands counsel to Hingtex Holdings on its share offer and listing in Hong Kong. A long-established denim fabric manufacturer based in Hong Kong, Hingtex is offering 160 million shares, with gross proceeds of approximately HK$179 million (US$22.8m). Partner Derrick Kan also led the firm’s team in the transaction, while PC Woo & Co acted as Hong Kong counsel. Deacons acted as Hong Kong counsel to Shenwan Hongyuan Capital as the sole sponsor.

Rajah & Tann Singapore is advising CWT, a wholly-owned subsidiary of Chinese conglomerate HNA Group, and its related companies on the sale of five logistics properties in Singapore to Mapletree Logistics Trust (MLT) for an estimated sale price of S$730 million (US$535m). The sale price excludes the estimated upfront land premium for the S$48.3 million (US$35.4m) balance lease terms payable by MLT to Jurong Town Corporation. Upon completion of the sale, the CWT group will leaseback the properties from MLT. The sale and leaseback is subject to approval of Jurong Town Corporation, while completion of the transaction is slated in the later part of this year. M&A partner Chia Kim Huat and corporate real estate partners Elsa Chai and Benjamin ST Tay are leading the firm’s team in the transaction.

Rajah & Tann Singapore is also advising a real estate fund, with assets of US$73 billion under management globally, on the purchase, via a purchase agreement entered into with its trustee, British and Malayan Trustees, of the commercial building at Market 55 Street, Singapore from Singapore-listed Reit, Frasers Commercial Trust. The sale consideration of S$216.8 million (US$159m) works out to S$3,020 (US$2,213.53) per square foot, based on the building’s net lettable area. Corporate real estate partners Norman Ho and Benjamin ST Tay are leading the firm’s team in the transaction.

Shardul Amarchand Mangaldas has advised Bigtree Entertainment and its promoters on the US$100 million Series D fund raise by its company Bookmyshow. The fund raise was led by TPG Capital, with the participation of existing investors Network18 Media and Investments and Stripes. Partner Vishruta Kaul, supported by partner Amit Khansaheb, led the firm’s team in the transaction. Veritas Legal, led by partners Nandish Vyas and Tushar Raut, advised TPG, while Nishith Desai Associates, led by partner Ruchir Sinha, advised Stripes. Existing investor Accel Partners was advised by Indus Law, led by partner Srinivas Katta.

Shook Lin & Bok is acting for HSBC Institutional Trust Services (Singapore), the trustee of CapitaLand Commercial Trust, on the divestment of Twenty Anson, a 20-storey prime office building in Tanjong Pagar, a sub-market of Singapore’s Central Business District, for a sale consideration of S$516 million (US$378.3m). Partners Tan Woon Hum and Andrea Ng led the firm’s team in the transaction, which marks the biggest pure-office, real estate deal this year.

Simpson Thacher is acting as lead counsel to a KKR-led consortium on its acquisition, in an all-cash transaction, of all of the issued and outstanding shares of Taiwan-listed LCY Chemical. The transaction, unanimously approved by LCY’s board of directors, represents a total market capitalisation of LCY of approximately NT$47.8 billion (US$1.56b). Upon closing, KKR will hold a majority and controlling interest in LCY, and LCY will be delisted from Taiwan. The KKR consortium includes LCY’s current employees and certain members of the founding family. M&A partner Ian Ho, supported by corporate partner Chris Lin, Asia banking and credit head Makiko Harunari and tax partner Katharine Moir, is leading the firm’s team in the transaction.

Skadden has advised E-House (China) Enterprise Holdings, China’s leading real estate transaction service provider, on its approximately HK$4.64 billion (US$591.3m) IPO in Hong Kong. E-House plans to use the proceeds to further develop its data systems, to expand its geographical coverage to an additional 52 cities, and to improve its capacity in existing service centres. Trading in the shares commenced on July 20, 2018. Hong Kong partners Julie Gao and Christopher Betts led the firm’s team in the transaction, while Maples and Calder (Hong Kong), led by partner Derrick Kan, acted as Cayman Islands counsel and Grandall Law Firm (Shanghai) acted as Hong Kong and China counsel. Freshfields Bruckhaus Deringer and Fangda Partners acted as Hong Kong and China counsels for China International Capital Corporation Hong Kong Securities and Credit Suisse (Hong Kong) as the joint sponsors.

Squire Patton Boggs has advised Tony Xia, owner of Aston Villa FC, on the investment in the club by NSWE, a company that is jointly owned and controlled by businessman Nassef Sawiris’ group NNS and businessman Wes Edens. The capital injection and transaction have been approved by the English Football League (EFL), and the parties will work through all confirmatory approvals required by the EFL as soon as possible. Established in 1874, Aston Villa was one of the founding members of the Football League in 1888, and is a seven-time winner of the FA Cup. The club has been owned by Xia since 2016 and, under the terms of the deal, Xia will become co-chairman and remain on the board. Birmingham corporate partner and football M&A expert David Hull, corporate partner Mark Yeo and restructuring and insolvency partner Devinder Singh led the firm’s team in the transaction. Allen & Overy advised Nassef Sawiris, while Skadden, Arps, Slate, Meagher & Flom advised Wes Edens.

S&R Associates has advised staffing solutions provider V5 Global Services on its acquisition by Firstmeridian Business Services, a portfolio company of Samara Capital, Goldman Sachs and Janchor Partners. Partner Viral Mehta led the firm’s team in the transaction.

S&R Associates has also advised Sapphire Trade Associates on its exit, , pursuant to a sale of shares to Delsey, from its Delsey India joint venture, a wholesale trading company for luggage and other travel products in India under the Delsey brand. Partner Uday Walia led the firm’s team in the transaction.

Vertices Partners has represented Aavishkaar Goodwell India Microfinance Development Company II as the sellers on the secondary sale of Arohan Financial Services. Partners Vinayak Burman and Archana Khosla led the firm’s team in the transaction, which was valued at approximately Rs649 million (US$9.4m) and was completed on March 2018.

Vertices Partners has also represented education services provider Brain4ce Education Solutions on its issue of shares, through primary and secondary sale. The proceeds would be used for faster expansion of the company’s operations. Founding partners Vinayak Burman and Archana Khosla led the firm’s team in the transaction, which was valued at approximately Rs135 million (US$2m) and was completed on March 2018.

Weerawong C&P has represented Dusit Thani on the acquisition of a β663 million (US$20m) stake in NR Instant Produce (NRIP). Dusit Thani is one of Thailand’s foremost hotel and property development companies. NRIP is a leading producer and exporter of ready-made food to Europe, American and Australia. Dusit Thani acquired approximately 2.45 million ordinary shares and 200,000 newly issued shares of NRIP, representing 25.9 percent of total NRIP shares. Partner Panuwat Chalongkuamdee led the firm’s team in the transaction.

Weerawong C&P has also advised Key Safety Systems on its acquisition of the Takata Corporation assets and operations in Thailand. Key Safety Systems acquired Takata’s global assets through coordinated restructuring proceedings and equity acquisitions. Partner Panuwat Chalongkuamdee also led the firm’s team in the transaction.

Wong & Partners, a member firm of Baker McKenzie International, has advised Maybank Asset Management Group (MAMG), a wholly-owned subsidiary of Malayan Banking, on its M$51 million (US$12.6m) acquisition of a 100 percent stake in Amanah Mutual (AM) and Singapore Unit Trusts (SUT), and on Permodalan Nasional’s (PNB) M$50 million (US$12.3m) subscription of new shares in MAMG, representing 20 percent of MAMG’s enlarged share capital. The deal entailed MAMG acquiring ownership of AM for M$16.12 million (US$4m) and SUT for M$34.88 million (US$8.6m) from PNB’s wholly-owned subsidiaries, Amanah Saham Nasional and PNB International. Both AM and SUT are unit trust funds managers, with AM focusing on retail clients and SUT on institutional clients. These transactions will help increase MAMG’s presence in the asset management space of Malaysia and Singapore. The share acquisition was completed on May 17, 2018, while the share subscription was completed on May 30, 2018. Partners Munir Abdul Aziz and Sue Wan Wong, supported by Baker & McKenzie.Wong & Leow partner Eunice Tan, led the firm’s team in the transactions.

WongPartnership is acting as Singapore counsel to Teleperformance on its US$1 billion acquisition of Intelenet Global Services from Blackstone. Partners Ong Sin Wei and Chan Jia Hui led the firm’s team in the transaction.

WongPartnership has also acted for Sunway Group and the founders of KK Fund, Koichi Saito and Kuan Hsu, on the launch of Sun SEA Capital, a US$50 million venture capital fund. Partners Ong Sin Wei and Felicia Marie Ng led the firm’s team in the transaction.

Allen & Overy has advised Fortune Fountain Capital (FFC), a prominent Asian financial services and wealth management group, on its senior and mezzanine facilities used to fund the acquisition of approximately 88.8 percent of the share capital in Baccarat, the iconic French company best-known for its fine crystal and glassware. FFC acquired the 88.8 percent shareholding from the Starwood Capital Group and certain other minority shareholders. The acquisition will be followed in due course by the filing of a mandatory tender offer for the remaining outstanding shares with the Autorite des Marches Financiers in France. Hong Kong partner Patrick Wong, supported by partners Jean-Christophe David (Paris) and Henri Wagner (Luxembourg), led the firm’s team in the transaction.

AZB & Partners has advised International Finance Corporation (IFC) on the issue, on a private placement basis, by Micro Housing Finance Corporation of up to Rs531 billion (US$7.8b) secured, rated, unlisted, redeemable, non-convertible debentures to IFC. Partners Gautam Saha, Amrita Patnaik and Dushyant Bagga led the firm’s team in the transaction, which was completed on June 27, 2018.

AZB & Partners is also advising International Finance Corporation (IFC) on the up to US$15 million term loan extended by IFC to NMB Bank. Partners Gautam Saha and Dushyant Bagga are leading the firm’s team in the transaction, which was signed on July 1, 2018 and is yet to be completed.

Baker McKenzie has advised Global Chemical on its first liability management exercise. The transaction involved a cash tender offer of the existing notes of Global Chemical and an issuance of like-kind notes by GC Treasury Centre. The new notes, with a total value of approximately US$495.9 million, are also guaranteed by Global Chemical. Bangkok partners Viroj Piyawattanametha, Nopporn Charoenkitraj and Kowit Adireksombat led the firm’s team in the transaction.

Clifford Chance has advised Bank of Jiujiang on its US$486 million IPO and listing in Hong Kong. Bank of Jiujiang is a leading regional commercial bank in Jiujiang, in the southern province of Jiangxi, China. It provides financial services to small and micro enterprises, individual business owners and the general public. In terms of tier-one capital as of December 31, 2016, Bank of Jiujiang ranked 456^th among the top 1,000 banks in the world and 66^th among all commercial banks in China. Jiangxi Province is one of the fastest growing provinces in China, and an important hub in Central China. Partners Tim Wang, Amy Lo and Jean Thio led the firm’s team in the transaction.

Cyril Amarchand Mangaldas has acted as India counsel to Infrastructure Leasing and Financial Services (IL&FS) and IL&FS Securities Services on IndusInd Bank’s proposed acquisition of 100 percent of the paid up equity share capital of IL&FS Securities from IL&FS and other minority shareholders of IL&FS Securities. A subsidiary of IL&FS, IL&FS Securities provides services as a custodian of securities, depository participant, clearing member, point of presence for the National Pension Scheme, securities lending and borrowing, fund accounting, sourcing of loan and credit monitoring services. Mumbai managing partner Cyril Shroff and corporate partner Manisha Kumar, supported by financial regulatory partner Shruti Rajan and competition law partner Bharat Budholia, led the firm’s team in the transaction, which was executed on June 26, 2018 and is subject to regulatory approvals.

Cyril Amarchand Mangaldas has also acted as sole counsel to Aliaxis Group on a share purchase and shareholders’ agreement for the purchase of the remaining 40 percent shares of Ashirvad Pipes from the minority Indian promoters, namely Pawan Poddar, Deepak Poddar, Vikas Poddar and their respective families. Aliaxis Group is a Belgium-based global leader in the piping industry and the 60 percent majority shareholder of Ashirvad Pipes, a segment leader in the pipes and fittings industry in India. The transaction, the largest in the sector, has resulted in a change in the management of Ashirvad Pipes, which posted a revenue of Rs24.85 billion (US$363m) from its operations in the calendar year ended December 31, 2017. The deal was signed on June 27, 2018 and closed on July 5, 2018. Bangalore corporate partner Rashmi Pradeep, supported by partners Cyril Shroff, Rashmi Pradeep, Arun Prabhu, Shaneen Parikh, Shaneen Parikh, Namrata Kolar, Bharat Budholia, Arun Prabhu and Rashmi Pradeep, led the firm’s team in the transaction, while AZB & Partners and Aarna Law acted as Indian counsel. Debevoise & Plimpton acted as international counsel to the Poddar family.

Fangda Partners has represented Sina on its investment in Beijing Modian Huixiang, a crowdfunding service platform based in China. Upon completion of the transaction, Sina will hold 39.2 percent of the shares in Modian.

Fangda Partners has also advised Blackstone on its acquisition of 100 percent interest in SHP Group, a globally leading cosmetics packaging manufacturer, involving a transaction price of approximately US$1.07 billion. The majority of SHP Group’s production capacity is in China, and its headquarters is in Jiangsu Province.

Gide has advised Chalco Hong Kong on the negotiation and signing of a mining convention with the Republic of Guinea for the development of the Boffa Nord and Boffa Sud bauxite mining blocks. The project has an initial investment valued at approximately US$706 million. A part of the state-owned group Aluminum Corporation of China (Chinalco), Chalco HK will develop and exploit the mine, which will have an initial production capacity of 12 million tons per year, through its Guinean project companies. The project is highly strategic for Chinalco, the second-largest producer of alumina and third-largest producer of aluminium in the world, as it will allow the company to secure its bauxite supply for the upcoming decades. Bauxite is a primary raw material for alumina production. It also forms part of the strategic cooperation between China and Guinea, which entered into a framework agreement last September that will allow the West African nation to receive important financing from China to develop its infrastructure in exchange for access to its mineral resources. Beijing partner Guo Min led the firm’s team in the transaction.

J Sagar Associates has advised Indiabulls Real Estate on the sale of its commercial assets in Chennai to global investor Blackstone. The assets will realise a gross value of approximately Rs8.5 billion (US$124m), subject to adjustments. Subject to satisfaction of closing conditions, the transaction is to be completed in tranches by September 30, 2019. Partner Lalit Kumar led the firm’s team in the transaction. Blackstone was represented by Shardul Amarchand Mangaldas.

J Sagar Associates has also advised Elara Capital (India), IDBI Capital Markets & Securities, IDFC Bank and SBI Capital Markets, as the book-running lead managers, on the IPO of RITES. The IPO comprised of an offer for sale by the President of India, acting through the Ministry of Railways, of 25.2 million equity shares for Rs4.6 billion (US$67.2m). RITES is a Miniratna (Category-I) Schedule ‘A’ public sector enterprise and a leading player in the transport consultancy and engineering sector in India, with 43 years of experience in over 55 countries. RITES is the only export arm of Indian Railways for providing rolling stock overseas, other than Thailand, Malaysia and Indonesia. RITES also provides consultancy services across other infrastructure and energy market sectors. Partners Rohitashwa Prasad and Arka Mookerjee led the firm’s team in the transaction.

Khaitan & Co has acted as domestic counsel to Varroc Engineering and the promoter selling shareholder on its approximately US$284.5 million IPO. Varroc Engineering designs, manufactures and supplies exterior lighting systems, plastic and polymer components, electrical-electronics components, and precision metallic components to passenger car, commercial vehicle, two-wheeler, three-wheeler and off highway vehicle OEMs worldwide. Executive director Sudhir Bassi and partner Madhur Kohli led the firm’s team in the transaction.

Khaitan & Co has also acted as Indian counsel to Temasek on its acquisition, together with PayPal, of a substantial minority stake in Pine Labs Singapore, through secondary acquisition and primary infusion of capital in Pine Labs. Singapore-headquartered Temasek is a globally diversified investment company, which has a global portfolio which spans a broad spectrum of industries, including financial services, telecommunications, media and technology, transportation, industrial, consumer, real estate, life sciences, agribusiness, as well as energy and resources. Partner Vineet Shingal, supported by partner Bijal Ajinkya and associate partner Nishad Nadkarni, led the firm’s team in the transaction.

Kirkland & Ellis has advised HarbourVest Partners, a leading global investor in the private markets, on its investment in Telstra Ventures Fund II, a newly-formed venture capital fund backed by Australia-listed Telstra and HarbourVest, that will focus on early to late stage venture investment opportunities in the US, Asia and Australia. Hong Kong corporate partners Damian Jacobs and Justin Dolling and US corporate partner Michael Belsley led the firm’s team in the transaction.

Luthra & Luthra is advising Fortis Healthcare, the leading integrated healthcare delivery service provider, on its bid process, whereby the Malaysian-Singaporean private healthcare group IHH Healthcare has been chosen as the preferred bidder to take over and acquire control of Fortis and its subsidiary companies. A consortium comprising of TPG and Manipal was the other bidder. Pursuant to this, IHH shall infuse Rs40 billion (US$584.6m), through subscription to a preferential allotment, followed by a mandatory open offer to the public shareholders of Fortis for acquisition of up to 26 percent of the share capital of the company, and an indirect open offer for public shareholders for 26 percent of its subsidiary, Fortis Malar Hospital. Upon completion of the transaction, the total deal size, assuming full participation in the open offer, would be approximately Rs74 billion (US$1.08b). IHH is the world’s second largest provider of integrated healthcare services by market capitalisation (US$12.3 billion, as of date) and is the largest private healthcare provider in Asia, operating approximately 10,000 beds in 49 hospitals across nine countries. Partners Sundeep Dudeja and Vaibhav Kakkar, supported by managing partner Rajiv Luthra, are leading the firm’s team in the transaction, which was signed on July 13, 2018 and is subject to approvals from shareholders and regulatory authorities. Cyril Amarchand Mangaldas, led by Mumbai managing partner Cyril Shroff and Mumbai corporate partner Ruetveij Pandya, acted as Indian counsel to Fortis. Allen and Gledhill advised IHH Healthcare, while Khaitan & Co, led by partners Haigreve Khaitan, Anand Mehta and Arindam Ghosh and associate partner Ashraya Rao, supported by partners Sudhir Bassi and Sanjeev Kapoor and associate partner Sagardeep Rathi, also advised IHH Healthcare and its wholly-owned subsidiary Northern TK Venture.

Maples and Calder (Hong Kong) has acted as Cayman Islands counsel to Regent Hospitality Worldwide (Regent Hotels) on its joint venture with UK-based InterContinental Hotels Group (IHG). Regent Hotels, known as Formosa International Hotels in Taiwan, sold a 51 percent stake to IHG for US$39 million in cash. Regent Hotels, together with two other brands under Formosa International Hotels, have a total of 3,849 rooms and suites. IHG franchises, leases, manages or owns more than 5,300 hotels and nearly 800,000 guest rooms in almost 100 countries. Partner Lorraine Pao led the firm’s team in the transaction, which closed on July 1, 2018, while Proskauer acted as Hong Kong counsel. Freshfields acted as Hong Kong counsel for IHG.

Maples and Calder (Hong Kong) has also acted as Cayman Islands counsel to Inke, a leading mobile live streaming platform in China, on its global offering and listing of shares in Hong Kong. Inke is offering 302.34 million shares, with gross proceeds of approximately HK$1.16 billion (US$147.8m). Partner Derrick Kan led the firm’s team in the transaction, while Simpson Thacher & Bartlett acted as Hong Kong and US counsel. Kirkland & Ellis acted as Hong Kong and US counsel to CICC, Citi and Deutsche Bank as the joint sponsors and joint global coordinators.

Rajah & Tann Singapore has acted for RHB Bank on an Islamic financing, via commodity murabahah term financing facilities allowed under Shariah laws, of S$120 million (US$88m) granted to the owner of luxury downtown hotel, SO Sofitel. The facilities were used to refinance existing facilities previously used in the acquisition of the hotel, and a second tranche for working capital, all secured by a suite of securities, including the mortgage of the hotel, approved by the Shariah board. Corporate real estate partners Norman Ho and Gazalle Mok and banking and finance partner Cindy Quek led the firm’s team in the transaction.

Rajah & Tann Singapore has also acted for The Bank of Tokyo-Mitsubishi UFJ and NEC Capital Solutions, as the arrangers, on the financing for the project to develop, construct, complete, own, operate and maintain a state-of-the-art, high capacity fibre-optic submarine cable system connecting Japan, Guam and Australia. The US$135 million financing was by way of syndicated senior, mezzanine and junior loan financing and equity contributions by sponsors and other individual and corporate investors into a Singapore-incorporated SPV. Partners Angela Lim and Tan Shu Fern led the firm’s team in the transaction.

Shook Lin & Bok is acting for Singapore-listed dye maker China Fibretech on the Rmb100 million (US$15m) proposed investment in Bo Dao Road Construction to invest in and build a rural road project in Xingwen county. The proposed investment will result in China Fibretech having an aggregate of 90.91 percent equity stake in Bo Dao. Partners Wong Gang and Pearlyn Xie led the firm’s team in the transaction.

Skadden has advised global technology leader Xiaomi on its approximately US$4.7 billion IPO in Hong Kong. This is the first Hong Kong offering to adopt a dual-class share structure and the first to list under Hong Kong’s new regime for innovative technology companies. Trading in the shares commenced on July 9, 2018. Corporate partners Julie Gao and Christopher Betts, supported by partner Will Cai, led the firm’s team in the transaction, which is the fourth largest technology company IPO globally, after Alibaba, Facebook and Infineon. Clifford Chance, led by partners Tim Wang, Jean Thio, Fang Liu and Amy Lo, advised the joint sponsors and 23 underwriters, including Goldman Sachs (Asia), Morgan Stanley Asia and CLSA Capital Markets.

Skadden has also advised Unicorn Partners Fund II on its successful closing, which was announced on July 9, 2018. Managed by Unicorn Capital Partners, a venture capital fund-of-funds manager focused on China and other key technology markets in Asia, the fund closed at its hard cap of US$250 million and was significantly oversubscribed. In line with its two predecessor funds, the fund will partner with best-of-breed leading and emerging venture capital managers who invest in the areas of technology, media and entertainment, and healthcare throughout China. The Unicorn founders, Tommy Yip and Kah-Fai Low, have 35 years of combined venture capital fund investment experience and research experience through technology boom-and-bust cycles and generational changes in China venture capital. Monument Group, one of the industry’s leading placement agents, was the exclusive placement agent for the fund. Partner Geoffrey Chan, head of investment management practice in Asia, led the firm’s team in the transaction.

TT&A is advising Deutsche Bank Mumbai Branch, as the arranger, Catalyst Trusteeship, as the bond trustee and common security trustee, and DB International (Asia) and Deutsche Investments Indian, as initial bond holders, on the Rs2.5 billion (US$36.5m) bonds issue by MIPL. The proceeds were used for repayment of inter-company advances availed from MDPL, and providing inter-company loans to MDPL and other group companies. MDPL, in turn, would use such proceeds for refinancing some of its facilities. Mumbai partners Sonali Mahapatra and Rituparno Bhattacharya are leading the firm’s team in the transaction, which is yet to be completed. Tatva Legal, led by partners NK Dilip and Rashmi Talukdar, advised MIPL and MDPL.

Vertices Partners has advised Tano India Private Equity Fund II, as the sellers, on the secondary sale of Arohan Financial Services. Founding partners Vinayak Burman and Archana Khosla led the firm’s team in the transaction, which was valued at approximately Rs401 million (US$5.9m) and was completed in March 2018.

Vertices Partners has also advised Instaoffice Business Solutions on the approximately Rs21.4 million (US$312,766) investment, through the issuance of compulsory convertible preference shares by way of preferential allotment, by Globevestor Fund and other individuals into Instaoffice Business Solutions. The company offers shared office, virtual office and co-working spaces, as well as business centres and meeting rooms for startups. Founding partners Vinayak Burman and Archana Khosla led the firm’s team in the transaction.

WongPartnership is acting as Singapore counsel to Bain Capital on the acquisition of DSM Sinochem Pharmaceuticals, a pharmaceutical joint-venture of Dutch chemicals firm Royal DSM NV and China’s Sinochem Group. Partners Ng Wai King, Quak Fi Ling and Bonnie Wong are leading the firm’s team in the transaction.