Allen & Gledhill has advised Marble II on the issue of US$500 million 5.3 percent senior notes due 2022. Marble II is indirectly wholly-owned by the Blackstone Group and GIC. Partners Bernie Lee, Daselin Ang, Andrew Chan, Ramesh Kumar and Sunit Chhabra led the transaction.

AZB & Partners has advised the International Finance Corporation on its grant of a Rs3.2 billion (US$49.7m) short-term working capital loan facility to Prime Bank. Partners Gautam Saha and Dushyant Bagga led the transaction, which was completed on July 5, 2017.

AZB & Partners has also represented FIH Mauritius Investments, a Fairfax group entity, on its approximately Rs13 billion (US$202m) acquisition of an additional 10 percent of the equity share capital of Bangalore International Airport from Bangalore Airport & Infrastructure Developers. Partner Ashwin Ramanathan led the transaction, which was completed on July 13, 2017.

Clifford Chance has advised Lotte Chemical Titan Holding, the Malaysian petrochemical unit of South Korean conglomerate Lotte Group, on the international aspects of its US$878 million IPO in Malaysia. Capital markets partner Raymond Tong, with partners Johannes Juette and Avrohom Gelber, led the transaction, which is Malaysia’s largest IPO since 2012.

Clifford Chance has also advised China’s leading artificial intelligence (AI) firm SenseTime Group on the US$410 million Series B preferred share investments from renowned private equity funds and institutional investors, including CDH, Sailing Capital and China International Capital. Founded by a group of scientists from the multimedia laboratory of the Chinese University of Hong Kong, SenseTime offers advanced AI-based applications, such as facial recognition and smart surveillance, to clients, including Huawei and China Mobile. This transaction highlights the booming ‘AI First’ wave in China, amid the country’s efforts to move towards a more innovation-driven economy. Partner Fang Liu led the transaction, which is the largest single-round investment in an AI company globally.

Davis Polk has advised the sole global coordinator, sole book-runner and sole lead manager on a Regulation S only offering of US$200 million 6.95 percent senior notes due 2022 by Prime Bloom Holdings, a wholly owned subsidiary of Shandong Ruyi Technology Group. The notes are guaranteed by Shandong Ruyi and Forever Winner International Development. Shandong Ruyi is a China-based fashion brand operator, with integrated textile and apparel manufacturing capacity. Shandong Ruyi offers a wide range of product offerings, including wool and cotton-based fabrics and apparel. In October 2016, it acquired a controlling stake in France-based SMCP Group, an international apparel and accessories retail group with several well-known brands. Partner William Barron led the transaction.
Davis Polk has also advised the joint lead managers on the Regulation S offering of US$200 million 4.5 percent notes due 2018 by Greenland Hong Kong Holdings, a company which develops quality residential, commercial and hotel properties in various cities in China. Greenland’s ordinary issued shares are listed in Hong Kong. Partner Paul Chow led the transaction.

DLA Piper has advised KGI Capital Asia, as sole sponsor, and Guotai Junan Securities (Hong Kong), as one of the joint book-runners, on Dongguang Chemical’s listing of shares in Hong Kong Stock. Dongguang Chemical is one of the major coal-based urea producers in China. The Hong Kong tranche was oversubscribed by more than three times, while the international tranche was also oversubscribed. The global offering raised approximately HK$200 million (US$25.6m), assuming the over-allotment is exercised. Corporate partner Liu Wei supervised the transaction, supported by co-chair, public company and corporate governance partner Andrew Ledbetter.

HSA Advocates has advised Donear Group on the acquisition of 100 percent stake of Grasim Industries, a flagship company of the Aditya Birla Group, in its wholly-owned subsidiary Grasim Bhiwani Textiles (GBT). GBT manufactures polyester viscose fabric under the flagship brand “Grasim” and also supplies the fabric to various other reputed brands. Donear is a market leader in the manufacture of polyester viscose fabric. Managing partner Amitabh Sharma, along with partner Aninda Pal, led the transaction.

J Sagar Associates has acted as the sole Indian counsel to Hindustan Petroleum on its issue of US$500 million bonds. The joint lead managers to the issue were Citigroup, DBS, MUFG Securities, SBICAP and Standard Chartered. Joint managing partner Dina Wadia led the transaction, which was the company’s first foray into the international offshore bond market.

Khaitan & Co has acted as Indian law counsel to Hitachi High-Tech on the approximately £80 million (US$104m) acquisition of the high-tech instruments business of Oxford Instruments, including the high-tech instruments business of Oxford Instruments India. Hitachi High-Tech manufactures, sells and services information and telecommunication systems, social infrastructure and industrial systems, electronic systems and equipment, construction machinery, high functional materials and components, automotive systems, smart life and ecofriendly systems, and other products and financial services worldwide. Partners Zakir Merchant and Anshul Prakash led the transaction.

Khaitan & Co has also advised Tokio Marine Asia (TM Asia), Singapore and Japan, on the US$392 million acquisition of a 23 percent stake in IFFCO Tokio General Insurance Company (ITGI) from the existing shareholders, IFFCO and Indian Potash, resulting in an increase in TM Asia’s equity stake in ITGI from 26 percent to 49 percent. TM Asia is an intermediate holding company within the Tokio Marine Group, Japan’s largest insurance group. Partner Rajat Mukherjee, supported by associate partner Ritu Shaktawat, led the transaction.

Kirkland & Ellis is representing a consortium, comprised of HOPU Investment Management, Hillhouse Capital Management, founder Ming Mei’s SMG, Bank of China Group Investment and China Vanke or their affiliated entities, on its proposed US$11.6 billion acquisition of Singapore-listed Global Logistic Properties (GLP). GLP is Asia’s leading warehouse operator, with a multi-billion dollar portfolio of assets spread across China, Japan, Brazil and the US. The transaction, which was announced on July 14, 2017, is the largest private equity-led takeover in Asia to date. Hong Kong corporate partner Nicholas Norris, debt finance partner David Irvine and investment funds partners Justin Dolling and Jonathan Tadd, are leading the transaction.

Luthra & Luthra has represented IIDC before the Labour Authority on a claim for compensation filed by a terminated employee. Because of unsatisfactory performance, and after following due procedure, IIDC terminated the services of its HR manager. The employee filed a claim seeking compensation under the Equal Remuneration Act 1976, alleging that she had been discriminated on account of her gender. Any discrimination on account of gender attracts stringent penalties under the Act, including imprisonment of three months to one year for the first offence, and up to two years for the second and subsequent offences. Under the Act, all persons responsible for managing the affairs of the company have been made liable. IIDC convinced the Labour Authority that the establishment was not covered under the Act, resulting to the dismissal of the ex-employee’s claim, on the ground of lack of jurisdiction. Partner Sanjeev Kumar led the transaction.
Paul Hastings has advised ICBC International Investment Management, the wholly-owned Hong Kong subsidiary of the Industrial and Commercial Bank of China, on its formation of a partnership with Sino-Ocean Capital, a subsidiary of Sino-Ocean Group, one of the largest real estate companies in China, for the acquisition of a large commercial real estate portfolio in China. The portfolio comprises six commercial properties aggregating approximately 200,000 square meters across four cities in China (Beijing, Shanghai, Chengdu and Shenyang), approximately 65 percent of which is for office use while the remaining 35 percent is for retail use. Real estate partner Paul Guan led the transaction.

Rajah & Tann Singapore has acted for Chua Chuan Leong Investments Holdings on the sale of the entire issued and paid-up share capital in Upside Property 1, the registered proprietor of three adjoining conservation shop houses situated at Boat Quay. The 999-year leasehold properties, with a total site area of 4,058 square feet and a total gross floor area of 11,514 square feet, lie within the Boat Quay Conservation Area. Partners Norman Ho, Terence Quek and Tan Shijie led the transaction.

Shook Lin & Bok has acted for Maxi-Cash Financial Services on its issue of more than 121 million new ordinary shares, on the basis of one rights share for every six existing ordinary shares. The rights issue was fully subscribed and raised approximately S$20.4 million (US$15m) in net proceeds. Partner Gwendolyn Gn led the transaction.

Simpson Thacher Hong Kong has represented FIT Hon Teng (Hon Teng) on its IPO in Hong Kong and Rule 144A/Regulation S offering of approximately 990 million shares, prior to any exercise of the over-allotment option, which raised approximately HK$2.7 billion (US$346m) in gross proceeds. Hon Teng’s ordinary shares of are listed in Hong Kong. China International Capital, Credit Suisse and Merrill Lynch acted as joint sponsors and, with UBS, as joint global coordinators and joint book-runners. A subsidiary of Hon Hai Precision Industry, Hon Teng is a market leader in the development and production of interconnect solutions and related products. In terms of revenue in 2016, Hon Teng’s market share ranked fourth globally and first in China. Hong Kong partners Chris Lin and Christopher Wong and New York tax partner Robert Holo led the transaction.

Simpson Thacher has also acted as sole international counsel to The Hongkong and Shanghai Banking Corporation, as arranger and dealer, and Citigroup Global Markets, Credit Agricole Corporate and Investment Bank, JP Morgan Securities, Nomura International, Standard Chartered Bank and UBS AG Hong Kong Branch, as dealers, on the update of the US$2.5 billion global medium term note program of Korea Land & Housing Corporation. The update was conducted in reliance on Regulation S under the Securities Act of 1933, as amended. Korea Land is a government-controlled entity which is engaged in the procurement, development, stockpiling and supply of land, the development and maintenance of cities and the construction, supply and maintenance of housing. Seoul office head partner Youngjin Sohn led the transaction.

Weerawong, Chinnavat & Partners has represented PTT Public Company on PTT Group’s business restructuring, involving the transfer of certain petrochemical businesses, propane business chain and bioplastic business chain, including the related service businesses, to PTT Global Chemical Public Company. Senior Partner Veeranuch Thammavaranucupt led the transaction, which was valued at β26.3 billion (US$782.7m) and closed on July 3, 2017.

White & Case is advising OFO International, a leading bike-sharing platform in China, on its Series E financing. The first tranche investment in the Series E round is jointly led by Alibaba, Hony Capital and CITICPE, followed by existing investors Didi Chuxing and DST. Beijing partner Andre Zhu is leading the transaction, which is expected to close within this month.

AZB & Partners is advising Gokul Refoils and Solvent on the acquisition, on a going concern basis, of its edible oil refinery by Adani Wilmar. Partners Rajendra Barot and Arvind Ramesh are leading the transaction, which was valued at Rs2.9 billion (US$45m) and is yet to be completed.

Clifford Chance has advised China CITIC Bank on its acquisition, along with China Shuangwei Investment, of a 60 percent stake in JSC Altyn Bank from JSC Halyk Bank, a leading financial services group in the Republic of Kazakstan. The One Belt One Road transaction was signed on June 7, 2017 during President of China Xi Jinping’s state visit to Kazakhstan, celebrating the 25th anniversary of the establishment of diplomatic relations between the two countries. China co-managing partner Terence Foo led the transaction, which is expected to complete during the second half of 2017, subject to obtaining regulatory approvals.

DLA Piper has advised China Huarong Macau (HK) Investment Holdings (Huarong Macau) on its US$100 million investment, in the form of convertible bonds, in Hong Kong-listed Freeman Fintech. The secured convertible bonds have a four percent interest rate payable semi-annually to subscribers. Freeman Fintech is an investment holding company which offers securities and options trading, insurance brokerage, financing and other related services. It mainly operates businesses in Hong Kong and is also involved in money lending, the provision of pawn loan services and the provision of financial lease services through its subsidiaries, and serves customers around the world. Huarong Macau is a member of the Huarong financial conglomerate, which provides securities brokerage, investment banking, futures and asset management, and other financial services. Corporate partner Gloria Liu and finance and banking partner Paul Lee led the transaction.

J Sagar Associates has advised Orbgen Technologies and its promoter group on the acquisition, through a combination of both primary infusion and secondary sale, of a majority stake in the company by SAC Finance, a subsidiary of Alibaba Pictures Group. Founded in 2007, Orbgen Technologies operates the ticket-booking platform TicketNew and also provides technology, sales and marketing and consulting software support through its software Ticket New Box Office Suite. Partners Aarthi Sivanandh and Varun Sriram led the transaction, which marks the first investment by the Alibaba group in a company primarily engaged in the ticket-booking platform business in India.

J Sagar Associates has also represented Kirusa Software on securing a landmark judgment before the National Company Law Appellate Tribunal (NCLAT) on the meaning of ‘dispute’ and ‘existence of dispute’ under Section 9 of the Insolvency and Bankruptcy Code 2016 (Insolvency Code) in relation to an operational credit extended by Kirusa to Mobilox Innovations. Kirusa filed a petition under the Insolvency Code that was rejected by the Mumbai NCLT on the ground that Mobilox had served a notice of dispute upon Kirusa. The question of law before the NCLAT was whether a mere letter/ notice disputing a claim of default of debt would amount to a dispute and whether the adjudicating authority may determine the existence of a dispute before rejecting a petition by an operational creditor on the ground that the notice of dispute has been served by the debtor. The NCLAT’s decision means that debtors now may not frustrate insolvency proceedings merely by means of a correspondence disputing the debt. Partner Amar Gupta led the transaction.

Khaitan & Co has acted as Indian counsel for Iron Mountain on its approximately €27 million (US$30.3m) acquisition of the information management operations of Santa Fe Group A/S, the global leader in international mobility and relocation in 10 regions in Europe and Asia. Iron Mountain Information Management is the global leader for storage and information management services. Partner Rabindra Jhunjhunwala, assisted by associate partner Ritu Shaktawat and executive director Dinesh Agrawal, led the transaction.

Khaitan & Co has also advised Awfis Space Solutions and The Three Sisters: Institutional Office on the investment, through a series of primary and secondary transactions, by SCI Investments V, an affiliate of Sequoia Capital, in issued and paid-up share capital of Awfis Space. Awfis Space Solutions is an Indian company which provides physical, co-working spaces (general and premium categories) under various formats in top tier cities in India and an online market place to search, book and rent commercial office and commercial meeting spaces (owned and third party) across top tier cities in India. Partner Vineet Shingal led the transaction.

Shearman & Sterling has advised Bank of America Merrill Lynch, Morgan Stanley and China Merchant Securities as joint sponsors, joint global coordinators and joint book-runners on the US$510 million global offering and IPO of WuXi Biologics (Cayman) in Hong Kong. WuXi Biologics is a global leading biologics services provider offering discovery, development and manufacturing of biologics services to pharmaceutical and biotechnology companies. The completion of WuXi Biologics’ Hong Kong listing marked the second Chinese company to relist in Hong Kong after going private in the US. WuXi PharmaTech (Cayman), the parent company of WuXi Biologics, was delisted from the US in December 2015 through a US$3.3 billion management buyout. Hong Kong capital markets partners Colin Law, Paloma Wang and Matthew Bersani and Menlo Park tax partner Laurence Crouch led the transaction. Maples and Calder (Hong Kong), led by partner Derrick Kan, acted as Cayman Islands counsel for WuXi Biologics (Cayman) while Wilson Sonsini Goodrich & Rosati acted as Hong Kong and US counsel and Fangda Partners acted as PRC counsel.

Rajah & Tann Singapore is acting for Singapore-listed HL Global Enterprises on its proposed disposal of 100 percent of the issued shares in the capital of LKN Investment International to Natural Apex, a wholly-owned subsidiary of Hong Kong-listed Jingrui Holdings. Partners Lawrence Tan, Chen Xi and Lorena Pang are leading the transaction.

Rajah & Tann Singapore has also acted for RHT Health Trust Manager, as trustee-manager of RHT Health Trust, on the issuance of S$60 million (US$43.4m) 4.5 percent notes due 2018, consolidated and forming a single series with the S$60 million (US$43.4m) 4.5 percent notes due 2018 issued on July 22, 2015 under the S$500 million (US$362m) multicurrency medium term note programme, which are listed and quoted in Singapore. Partners Lee Xin Mei, Hoon Chi Tern and Chor Zhi Chao led the transaction.

Weerawong, Chinnavat & Partners has represented Asset World on the β25 billion (US$737m) financing for the acquisition of hotel and retail building assets from Thai Hotel Investment Freehold and Leasehold Property Fund and Thai Retail Investment Fund by companies under the AWC group, including TCC Hotel Asset Management and Asset World Retail. The financiers were Siam Commercial Bank and Kiatnakin Bank. The assets acquired under this transaction included Hilton Sukhumvit Bangkok, Marriott Marquis Queen’s Park, Plaza Athenee Bangkok, The Okura Prestige Bangkok, Pantip Plaza, Asiatique and Tawanna Night Bazaar. Partner Nattaporn Pengkul led the transaction, which closed on May 19, 2017.

Weerawong, Chinnavat & Partners has also represented Asset World on the β25 billion (US$737m) financing for the acquisition of commercial building assets from Thai Commercial Investment Freehold and Leasehold Fund (TCIF) by companies under the AWC group, including TCC Commercial Property Management and CW Tower. The financier was Kasikornbank. The assets acquired under this transaction included Empire Tower, Athenee Tower, 208 Wireless Road Building and CW Tower. Partner Nattaporn Pengkul led the transaction, which closed on May 19, 2017.

WongPartnership has acted as Singapore counsel for Tencent Holdings on its investment in Flipkart, which operates India’s leading e-commerce marketplace, as part of a consortium which includes Microsoft and eBay, in a US$1.4 billion fundraising round. Partners Low Kah Keong and Lau Kiat Wee led the transaction.

WongPartnership is also advising Tryb Capital on its proposed capital raising plans of approximately US$100 million from investors by way of subscription of different classes of shares in the capital of Tryb Capital. The amount raised will be used to invest in mid-market fintech companies which have turnovers of US$5 million to US$10 million and are seeking growth in the Asean region. Partner Ong Sin Wei is leading the transaction.

Allen & Gledhill has advised Europe & Asia Commercial (EAC) on the formation of a joint venture with Unilever and on the sale of 60 percent of EAC’s home care and personal care business to the JV company, which will manufacture and distribute home care and personal care products in Myanmar. Partners Minn Naing Oo, Oh Hsiu Hau, Alexander Yap, Fock Kah Yan and Lim Pek Bur led the transaction, which is one of the largest M&A transactions in Myanmar thus far.

Allen & Gledhill has also advised Aung Moe Kyaw (AMK), UMJ Ikeya Investment (UMJ) and Macondray Holdings (MH) on the joint venture with Group Lease Holdings (GLH) for the operation of a financing business in Myanmar. To implement the joint venture, GLH, UMJ, MH and AMMK Holdings have formed GL-AMMK as a JV company to provide services to Century Finance to develop the financing business in Myanmar. AMMK is wholly-owned by AMK. Partner Oh Hsiu Hau, Myanmar managing director Minn Naing Oo and director Lee Jun Yee led the transaction, which is likely the first foreign investment into a company in the Myanmar finance company sector.

AZB & Partners is advising FAL, an indirect wholly-owned subsidiary of Fairfax Financial Holdings, on its sale of 12.18 percent of its fully diluted equity shareholding in ICICI Lombard General Insurance to Red Bloom Investment Ltd (9 percent), Tamarind (1.59 percent) and IIFL Special Opportunities Fund (1.59 percent). Senior partner Bhavi Sanghvi and partners Arvind Ramesh and Ashwin Ramanathan, are leading the transaction, which was valued at approximately Rs24.7 billion (US$383m) and is yet to be completed.

AZB & Partners has also represented JM Financial Investment Managers on its acquisition of compulsorily convertible debentures issued by Shriram Properties & Infrastructure. Partner Anand Shah led the transaction, which was valued at approximately Rs4 billion (US$62m) and was completed on May 12, 2017.

Clifford Chance has advised BCPG Public Company, one of Thailand’s largest solar independent power producers, on its approximately US$28.5 million investment into a wind power project in the Philippines through an indirect acquisition of 40 percent equity in PetroWind Energy, which was incorporated in 2013 to develop and operate the 50 MW Nabas Wind Power Project in Nabas, Aklan, the Philippines. Partner Joseph Tisuthiwongse led the transaction.

Clifford Chance has also advised CVC Capital Partners Asia III on the disposal of SPi Global, an outsourced service provider to education, science, technical and medical research publishers, for approximately US$330 million. CVC is one of the world’s leading private equity and investment advisory firms. Partner Neeraj Budhwani, supported by partner Richard Blewett (Beijing), led the transaction, which will complete CVC’s exit from SPi Global.

Gibson Dunn is representing Goldman Sachs Private Equity on its A$1 billion (US$749.5m) joint offer agreement to purchase a majority stake in Icon Cancer Care. Goldman Sachs is leading a consortium comprised of the Queensland Investment Corporation and Pagoda. Icon is Australia’s leading provider of radiation and medical oncology services. Hong Kong partners Scott Jalowayski and Michael Nicklin are leading the transaction.

Howse Williams Bowers has advised to Dakin Capital, as the sole sponsor, and Ping An Securities and Dakin Securities, as the underwriters, on the approximately HK$87 million (US$11m) share offer and listing of VBG International Holdings in Hong Kong. The shares commenced trading on May 26, 2017. As one of the leading financial services providers in Hong Kong, VBG provides corporate finance advisory, placing and underwriting and business consulting services. It ranked fifth among all Hong Kong-based corporate finance houses, in terms of IPO fund raising in 2016 for its sponsorship of corporate finance advisory services. Partner Chia Ching Tan led the transaction.

J Sagar Associates has advised Ace Turtle Services and its affiliates on the Series A funding from Singapore-based Vertex Ventures and C31 Ventures, the venture capital arm of CapitaLand. Ace Turtle is a technology-driven platform company enabling web-influenced commerce. Its proprietary Omni-channel platform, which comprises of technology, logistics and customer support, enables brands and retailers to enhance their customers’ commerce experience. Ace Turtle’s clients include brands such as Puma, Ray-Ban, Max, Arrow, Flying Machine, Ed Hardy, US Polo, Fossil and more. Partner Raj Ramachandran led the transaction.

J Sagar Associates has also advised Incessant Technologies, an NIIT technologies company and a leader in digital integration and agile delivery of Enterprise BPM solutions, on its acquisition of a 55 percent interest in RuleTek, a US BPM architecture services company with a track record of successful implementation. Partner Lalit Kumar led the transaction, while Squire Patton Boggs acted as foreign counsel. RuleTek and its promoters were represented by The Law Offices of David Schwinger.

Khaitan & Co has advised Apollo Tyres, as the issuer, and Axis Bank, Kotak Mahindra Bank and Standard Chartered Bank, as the arrangers, on the issuance of listed non-convertible debentures aggregating to Rs4.5 billion (US$70m) by way of private placement, in series, secured by a first pari passu charge on the issuer’s tangible movable fixed assets. Partner Manisha Shroff led the transaction.

Khaitan & Co has also advised Itz Cash Card on the acquisition by Ebix USA of an 80 percent stake in Itz Cash from PE investors Matrix Partners, Lightspeed Venture Partners and Intel Capital, original promoters and employees of Itz Cash Card. Itz Cash is an unlisted company engaged in prepaid instruments, corporate gift cards and providing technical services to financial institutions for the issuance of open loop cards. Partner Sharad Abhyankar led the transaction.

LawCept Partners has advised GVFL Start Up Fund on its investment, alongside Times Internet, in Vidooly Media Tech’s Series A funding round. Founded in 2014 by Nishant Radia, Subrat Kar and Ajay Mishra, Vidooly is an online video intelligence software platform for content creators, brands, multichannel networks, agencies and media companies. Partners Tereasa Rini and Afshan Ahmedbhoy led the transaction. Vidooly was advised by Avigna Law Advocates, led by partner Kshama Ravikumar. Times Internet was advised by Pier Counsel.

Luthra & Luthra has advised the President of India, acting through the Ministry of Housing & Urban Poverty Alleviation, and Housing & Urban Development Corporation (HUDC) on its IPO, comprising an offer for sale of the President of India’s equity shares aggregating to approximately Rs12.1 billion (US$188m). HUDC is a Mini-Ratna central public sector undertaking, which has been engaged over the last four decades in financing of housing and urban infrastructure projects in India. With a loan book of over Rs350 billion (US$5.44b) as of December 31, 2016, profitability since inception, pan-India presence and high credit ratings, HUDC is a premier government financier serving a nodal position in the government’s affordable housing and infrastructure development program. Partners Manan Lahoty and Geeta Dhania led the transaction, which was a part of the government’s disinvestment programme for 2018 and the first government disinvestment through an IPO since 2012. Duane Morris & Selvam acted as international counsel to the President of India and HUDC. Trilegal acted as Indian counsel to the underwriters.

Majmudar & Partners has represented leading Japanese pharmaceuticals manufacturer Otsuka Pharmaceutical Factory on the US$20 million proposed acquisition of an additional 20 percent stake in its existing joint venture company, Otsuka Pharmaceutical India, from its JV partner, Claris Lifesciences. Partner and head of M&A practice group Rukshad Davar led the transaction, which is subject to the approval of the Foreign Investment Promotion Board.

Norton Rose Fulbright has advised Shenzhen-listed Zoomlion Heavy Industry Science and Technology on its US$1.68 billion disposal of the 80 percent interest in Changsha Zoomlion Environmental Industry to four Chinese investment holdings, including Infore Holding and Hony Investment. Changsha Zoomlion engages in the research, development, manufacturing and sale of environmental sanitation equipment and the provision of environmental solutions. The disposal constitutes a major transaction under Hong Kong listing rules. The sale will allow Zoomlion to focus on its industrial and agricultural equipment businesses. Partners Psyche Tai and Winnie Chan led the transaction.

Rajah & Tann Singapore has acted for BBR Holdings (S) on its acquisition from Voon Yok Lin of the remaining 20 percent shareholding interests in its subsidiary, BBR Construction Systems (M) (BBRM). The consideration was satisfied in full by the issuance of 16.5 million new issued and fully paid-up ordinary shares by BBRH to the vendor. Following completion of the acquisition, BBRM has become a wholly-owned subsidiary of BBR. In connection with the acquisition, an additional listing application was submitted in Singapore for the listing and quotation of the new BBR shares. The BBR group is a construction group with core business segments in general construction, specialised engineering, property development and green technology. BBRM is principally engaged in structural engineering and design, build services and investment holding. Partners Lawrence Tan and Favian Tan led the transaction.

Rajah & Tann Singapore is also acting for Fullshare Holdings on its acquisition of the entire issued and paid up share capital of Plaza Ventures, the registered owner and developer of the development project known as GSH Plaza, from GSH Properties, TYJ Group and VIbrant DB2. Partners Chia Kim Huat, Chen Xi, Elsa Chai, Lina Chua, Sim Chee Siong, Lee Weilin and Penelope Loh are leading the transaction, which was valued at S$231.9 million (US$168m) and is yet to be completed. Dentons advised the vendors.

Shardul Amarchand Mangaldas & Co has represented Coal India and its subsidiaries in securing a stay from the National Company Law Appellate Tribunal (NCLAT) on the Rs5.91 billion (US$91.8m) fine imposed by the Competition Commission of India (CCI) on Coal India. The decision stemmed from a complaint brought before the Competition Appellate Tribunal (COMPAT) against Coal India for abusing its dominant position in its fuel supply agreements (FSAs) with power sector utilities. COMPAT remanded the matter to CCI. After hearing the matter, CCI found Coal India and its subsidiaries to be imposing unilateral terms in the FSAs and imposed the fine. On May 26, 2017, the Finance Act 2017 took effect, resulting to the creation of the NCLAT and the abolition of COMPAT as the appellate court against the orders of the CCI. In its first significant decision, NCLAT issued the order on May 31, 2017, staying the imposition of the fine against Coal India. Managing partner Pallavi Shroff, supported by partner Harman Singh Sandhu, led the transaction.

Skadden has represented Nomura International, Merrill Lynch, Pierce, Fenner & Smith, Goldman Sachs International and Mizuho Securities USA as underwriters on Japan Bank for International Cooperation’s US$5 billion offering of government-guaranteed bonds. The bonds are offered in four tranches, comprising of US$1.5 billion 2.125 percent guaranteed bonds due 2020, US$1.5 billion 2.5 percent guaranteed bonds due 2022, US$1.5 billion 2.875 percent guaranteed bonds due 2027 and US$500 million floating rate guaranteed bonds due 2020. Tokyo corporate partner Kenji Taneda and Palo Alto tax partner Sean Shimamoto led the transaction.

Ali Budiardjo, Nugroho, Reksodiputro has acted as Indonesian counsel for GP Network Asia on the indirect acquisition of 100 percent shares in Kudo Teknologi Indonesia through Kudo Digital Solutions. Kudo Teknologi Indonesia is a software provider which provides solutions to create digital entrepreneurs. Partner Freddy Karyadi led the transaction, which was valued at approximately US$100 million.

Clifford Chance has advised a consortium of investors led by CREAT Tiancheng Investment Holdings on the €940 million (US$1b) financing for the takeover offer by Tiancheng (Germany) Pharmaceutical Holdings to acquire Biotest, a blood products business listed in Germany. Partners Timothy Democratis (Beijing) and Dr Bettina Steinhauer (Frankfurt) led the transaction, which is the latest in the trend of interest by Chinese investors in acquiring businesses in Germany.

Duane Morris & Selvam has acted as international counsel to the President of India and the Housing and Urban Development Corporation (HUDCO) on the recent sale of 10.19 percent of the shares in HUDCO by the President of India for approximately Rs12.1 billion (US$187.2m) in an IPO in India and concurrent private placements outside the country, including a Rule 144A offering in the US. The offer was subscribed nearly 80 times, with more than two million retail investors applying for shares. HUDCO shares made a strong debut on the NSE and BSE, listing at a 22 percent premium to the offer price. This was the first Indian public sector undertaking IPO in more than five years. IDBI Capital Markets & Securities, ICICI Securities, Nomura Financial Advisory and Securities (India) and SBI Capital Markets were the book-running lead managers for the offer. Head of India practice and US securities law practice Jamie Benson, supported by partners Charles Harrell(Houston) and Hope Krebs (Philadelphia), led the transaction. Trilegal acted as Indian counsel to the underwriters.

J Sagar Associates has advised Virtuous Retail South Asia on its acquisition, through its wholly-owned subsidiary in Singapore, of equity shares constituting 100 percent of the paid-up capital of Anisha (Mauritius) from SUN-Gumberg India Real Estate PCC. Anisha, through its subsidiary in India, Hamir Real Estate, operates the North Country Mall in Chandigarh. The mall is built on a 21.61 acres parcel of land. Partners Vivek K Chandy, Malini Raju and Prasanth VG led the transaction, which was valued at Rs7 billion (US$108.4m).

J Sagar Associates has also advised PepsiCo India Holdings on a long term arrangement with the Master Blaster Sachin Tendulkar in the health and nutrition space. The first product under this arrangement, ‘Quaker Oats + Milk’, was launched on May 16, 2017. ‘Quaker Oats + Milk’ is designed as a convenient on-the-go solution in the breakfast category and is meant to target young-time-starved-Indians. Partners Nitesh Bhasin and Kartik Jain led the transaction.

Khaitan & Co has advised Grant Thornton India on an inter-corporate borrowing of US$4.5 million availed by Bristlecone from its subsidiary in the USA, Bristlecone Inc, to repay its existing indebtedness. Grant Thornton is one of the largest assurance, tax and advisory firms in India. With over 3,000 professional staff across 13 offices, the firm provides robust compliance services and growth navigation solutions on complex business and financial matters through focused practice groups. Partner Kumar Saurabh Singh led the transaction.

Khaitan & Co has also advised Fosun International on its investment in Delhivery by subscription to Series E compulsorily convertible cumulative preference shares for a minority stake in Delhivery and acquisition of certain equity shares from existing shareholders of Delhivery for US$30 million. Delhivery provides logistics services to customers largely comprising of ecommerce companies. It is currently one of India’s biggest logistics companies. Partner Bharat Anand led the transaction.

Luthra & Luthra has represented Kanakadurga Finance on the investment by Banyan Tree Growth Capital to acquire a significant minority stake. Kanakadurga Finance is an NBFC which provides auto loans and gold loans and has branches all over Andhra Pradesh, Telengana, Karnataka, etc. BanyanTree Growth Capital is a Mauritius-based, sector agnostic India-focused private equity fund that provides capital to mid-market firms. The company was seeking its first private equity investment to expand the size of its loan book and increase its credit rating. Partner Deepak THM led the transaction.

Luthra & Luthra has advised GIP, one of the largest infrastructure investors in the world with an AUM of over US$40 billion, on its exit from EIPL, a company engaged in the storage of petrochemical and LPG products at the Vizag port. Partners Shinoj Koshy and Lokesh Shah led the transaction.

Majmudar & Partners has represented leading Japanese pharmaceuticals manufacturer Otsuka Pharmaceutical Factory on the proposed US$20 million acquisition of an additional 20 percent stake in its existing joint venture company, Otsuka Pharmaceutical India, from its joint venture partner, Claris Lifesciences. Partner Rukshad Davar led the transaction, which is subject to approval of the Foreign Investment Promotion Board. Veritas Legal represented Claris Lifesciences.

Watson Farley & Williams has advised Crédit Agricole CIB, as mandated lead arranger, facility agent and security trustee, and the Korea Development Bank, as arranger, on the commercial financing for Minsheng Financial Leasing of four Airbus A320-200s currently on lease to India carrier IndiGo. Minsheng Financial Leasing is a subsidiary of China Minsheng Bank. Founded in 1996 and publicly listed in Hong Kong in 2009, China Minsheng Bank was the first bank in China to be owned primarily by non-government enterprises. IndiGo is India’s largest airline by passengers carried and fleet size, with a 39.8 percent market share as of January 2017, as well as the eighth largest carrier in Asia overall, with over 41 million passengers carried in 2016. Singapore aviation finance partner Samuel Kolehmainen, assisted by Paris office head and finance partner Laurence Martinez-Bellet, led the transaction.

Ashurst has advised Crown Resorts on the sale, through its wholly-owned subsidiary Crown Asia Investments (CAI), of its remaining shareholding in Melco Resorts & Entertainment (MRE) back to MRE, through a share repurchase which was completed on May 15, 2017. MRE bought back 165.3 million ordinary shares, equivalent to approximately 55.1 million MRE American depositary shares and representing 11.2 percent of MRE’s ordinary shares outstanding, for US$7.04 per ordinary share or US$21.11 per ADS. As a result, Crown no longer holds an interest in MRE or the Macau market, the shareholders’ agreement between CAI and Melco International Development was terminated, and Crown no longer holds the right to appoint a director to the MRE Board. The approximately US$987 million proceeds will initially be used to reduce Crown’s net debt. Concurrently with the repurchase, MRE launched an offering of approximately 27.8 million ADSs and approximately 82 million ordinary shares in MRE. Under the offering, approximately 15.8 million ADSs were purchased by the underwriters for resale and approximately 82 million ordinary shares were delivered to Melco subsidiary Melco Leisure and Entertainment Group to satisfy obligations to return securities as part of cash-settled swap transactions entered into in December 2016. Moreover, Crown terminated each of the cash-settled equity swaps entered into in December 2016 that referenced approximately 27.3 million of MRE’s ADSs and the cash-settled equity swap entered into in March 2017 that referenced 12 million of MRE’s ADSs. Australia head corporate partner Phil Breden and finance practice co-head partner Jamie Ng led the transaction.

Ashurst is also acting for China Development Bank on an approximately US$4.5 billion financing for the Jakarta-Bandung High Speed Rail Project. The loan agreement was signed at a ceremony witnessed by the Chinese and Indonesian presidents during the recent “Belt and Road Forum for International Cooperation” in Beijing. This landmark project is one of the largest infrastructure projects and the first high speed railway project in Indonesia. It is also one of the highest profile exports of Chinese high speed rail technologies and products, and is seen by the Chinese government as a pilot project for its Belt-and-Road Initiative. Partner Chen Chin Chuan, supported by partners Lee Macdonald, Simon Irvine, Patrick Phua, Terence van Poortvliet, Ronnie King, Rob Palmer and Jean Woo, led the transaction. Indonesian law advice was provided by the firm’s associated Jakarta office, Oentoeng Suria & Partners, led by partner Atik Susanto. Chinese law advice was provided by partner Fan Lei of the firm’s alliance partner Guantao Law Firm. Hadiputranto, Hadinoto & Partners is acting for the borrower.

AZB & Partners has advised KKR India Asset Finance on its investment, through a facility loan, in Signatureglobal (India). Partners Sai Krishna Bharathan and Sugandha Asthana led the transaction, which was valued at Rs2 billion (US$31m) and was completed on May 2, 2017.

AZB & Partners has also advised Havells India on its acquisition of Lloyd Electric and Engineering’s consumer durables business division. Senior partner Hardeep Sachdeva led the transaction, which was valued at Rs16 billion (US$247m) and was completed on May 8, 2017.

Bird & Bird ATMD has acted for Singapore-listed Singapore Press Holdings (SPH), the main media organisation in Singapore, on its entry into the healthcare sector with the acquisition of all of the shares and intellectual property of Orange Valley Healthcare for approximately S$164 million (US$118m). This is the largest non-property acquisition made by SPH, which positioned the deal as the first of potentially more in the healthcare space, in light of the healthcare needs of Singapore’s ageing population in the long term. Partner Marcus Chow led the transaction.

Clifford Chance has acted as international counsel for IDFC Bank, Credit Suisse India, ICICI Securities and IndiaInfoline as the underwriters on IRB InvIT Fund’s US$785 million IPO in India. This is India’s first ever infrastructure investment trust. The transaction established a new form of funding for infrastructure developers in the country. Partner Rahul Guptan, supported by partners Johannes Juette and Owen Lysak, led the transaction.

Clifford Chance has also acted as international counsel for Merrill Lynch India, Kotak Mahindra Capital and Morgan Stanley India as the lead managers on Kotak Mahindra Bank’s US$901 million qualified institutional placement in India. Partner Rahul Guptan, supported by partners Johannes Juette and Avrohom Gelber, led the transaction, which is the second-largest ever Indian qualified institutional placement and the largest for 2017. AZB & Partners, led by partners Varoon Chandra, Lionel D’Almeida and Kashish Bhatia, advised Kotak Mahindra Bank.

Clove Legal has represented Mswipe Technologies, a mobile point of sale service provider, on the acquisition of the offline merchant acquiring business of PayU Payments. Partner Amit Sirsikar led the transaction.

DLA Piper has advised SMG China on an agreement to manage one of the world’s largest convention and exhibition centres, the Shenzhen International Convention and Exhibition Centre in China. SMG is a worldwide entertainment, convention and venue management company based in Pennsylvania, USA. It has four decades of experience managing public facilities around the world. The cooperation will see SMG operating and managing the Shenzhen International Convention and Exhibition Centre, with an aim to create a world class convention and exhibition centre. Invested by China Merchants Shekou Industrial Zone Holdings and Overseas Chinese Town, the project is strongly supported by the Shenzhen government. The construction of the centre started in September 2016. Once completed, it will cover 500,000 square meters of indoor and outdoor area, adding another landmark to the booming city of Shenzhen. Corporate partner Gloria Liu led the transaction.

Khaitan & Co has advised Radius Sumer Developers, a leading real estate developer in Mumbai, on its issue of secured, unlisted, unrated, taxable, redeemable, non-convertible debentures aggregating to approximately US$36 million to Edelweiss Finance, under a revenue sharing arrangement in relation to the development of a tower titled ‘Habour Heights’, which is jointly developed by Radius Group and Sumer Group, at Reay Road, Mazgaon, Mumbai. Partner Kumar Saurabh Singh led the transaction.

Khaitan & Co has also advised the Calcutta Electric Supply Corporation (CESC) on a proposed restructuring through a composite scheme of arrangement, involving the amalgamation of (1) CESC Infrastructure, Spencer’s Retail and Music World Retail with the company; (2) Spen Liq with RP-SG Business Process Services; and (3) New Rising Promoters with Crescent Power. The transaction also involves the demerger of (1) the generation undertaking of CESC to Haldia Energy; (2) Retail Undertakings to RP-SG Retail; and (3) IT Undertaking to RP-SG Business Process Services. Moreover, the deal involves the reduction and cancellation of the existing share capital of Haldia Energy, RP-SG Retail and RP-SG Business Process Services; and the listing of the equity shares of Haldia Energy, RP-SG Retail and RP-SG Business Process Services in India. CESC is the Kolkata-based flagship company of the RP-Sanjiv Goenka Group with a turnover of over Rs72 billion (US$1.11b). It is an Indian electricity generation and the sole distribution company administered by the Kolkata municipal corporation. Partners Haigreve Khaitan and Mehul Shah, supported by executive directors Sudhir Bassi and Arvind Baheti and partners Aniket Agarwal and Dibyanshu Sinha, led the transaction.

Luthra & Luthra has advised CJ Logistics, one of Korea’s largest and most successful logistics company, on the acquisition of a 50 percent stake in DARCL Logistics, a multi-modal logistics company operating through over 200 branches across India. The transaction is a combination of primary investment and secondary acquisition at an aggregate value of US$50.6 million. CJ is South Korea’s largest parcel delivery service company. This transaction is expected to pave the way for the Korean company to tap into the world’s second-most populated country with burgeoning logistics demand, and broaden its logistics network across the Asian region. The company has been expanding aggressively in the Asian continent, having developed its presence in the Philippines and Malaysia in the recent past. Partner Shinoj Koshy led the transaction.

Paul, Weiss has represented Tencent on the Series C financing of Yixin Capital, a subsidiary of New York-listed Bitauto that provides an online platform for automotive financing. Tencent invested in Yixin in this round of financing with other investors, including Bitauto, China Orient AMC International and others. This round of financing involves up to Rmb4 billion (US$580m) investment into Yixin. The firm also assisted Tencent on its participation on the Series B financing of Yixin. Upon closing, expected by the end of May, Tencent will remain Yixin’s second largest shareholder. Corporate partners Jeanette Chan and Tong Yu led the transaction.

Paul, Weiss has also advised an affiliate of China media and internet conglomerate Tencent on its Series H preferred stock investment in Smule, a US-based social media music company and developer. Tencent joined Adams Street Partners and Bessemer Ventures, among others, in the US$54 million financing round. Corporate partners Jeanette Chan, Chuck Googe, Steven Williams and Tong Yu, litigation partner Aidan Synnott and employee benefits partner Lawrence Witdorchic led the transaction.

Shardul Amarchand Mangaldas & Co has acted as Indian counsel to JM Financial Institutional Securities, Axis Capital and Credit Suisse Securities (India) as the book-running lead managers on the IPO of S Chand, a leading Indian education content company, which delivers content, solutions and services across the education lifecycle. Approximately 10.9 million equity shares were offered, including approximately 4.8 million equity shares through a fresh issue by the company and approximately six million equity shares offered by certain S Chand shareholders, including approximately 4.8 million equity shares by Everstone Capital Partners II. The prospectus was registered with the Registrar of Companies, National Capital Territory of New Delhi and Haryana on May 2, 2017. Capital markets national practice head partner Prashant Gupta, supported by partner Sayantan Dutta, led the transaction, while Clyde & Co acted as international counsel. AZB & Partners advised S Chand as to Indian law.

Shardul Amarchand Mangaldas & Co has also advised HP on its proposed acquisition of the global printer business of Samsung Electronics. This was the first time that the Competition Commission of India (CCI) was assessing a transaction in the printer segment. CCI approved the transaction on April 28, 2017. Partners Naval Satarawala Chopra and Aparna Mehra led the transaction, while Skadden, Arps, Slate Meagher & Flom acted as global counsel.

Simpson Thacher has represented Polaris CG Singapore on the formation of Tiara CG Private Equity Fund 2017 (Tiara II) and Crown CG Private Equity Fund 2017 (Crown). Crown completed its fundraising process on April 13, 2017 while Tiara II completed its fundraising process on April 20, 2017, with total aggregate commitments among these funds of ¥37.35 billion (US$336m). An onshore fund managed by Polaris Capital Group completed its fundraising with total commitments of ¥37.65 billion (US$338.7m) on April 27, 2017, bringing the aggregate commitments among these funds to ¥75 billion (US$674.8m). Hong Kong partner Adam Furber led the transaction.

Skadden has represented Bumi Serpong Damai on the Regulation S offering of US$70 million 5.5 percent guaranteed senior notes due 2023. The notes, which are listed in Singapore, were issued by Bumi Serpong Damai’s finance subsidiary incorporated in Singapore, and are guaranteed by Bumi Serpong Damai and certain of its other subsidiaries. The notes are consolidated, and form a single series with, the issuer’s outstanding US$200 million 5.5 percent guaranteed senior notes due 2023 issued in October 2016. Bumi Serpong Damai is the largest property development company in Indonesia, based on market capitalisation, with one of the largest land banks among the country’s property developers. Partners Jonathan Stone and Rajeev Duggal led the transaction.

Allen & Gledhill has advised DBS Bank as the sole book-runner on the issue by CDL Properties of S$100 million (US$71.7m) 1.98 percent notes due 2019 under its S$700 million (US$501.7m) secured medium term note programme. The notes are the first green bonds to be issued by a Singapore company. Partners Margaret Chin, Daselin Ang and Sunit Chhabra led the transaction.

Allen & Gledhill (Myanmar) has also advised Myanmar Smart Pack Industrial (MSP) on the establishment of a joint venture company in Myanmar, Daibochi Packaging (Myanmar), with Daibochi Flexibles, a wholly-owned subsidiary of Daibochi Plastic & Packaging Industry. Daibochi will invest US$6.8 million for 60 percent of the shares in the JV company. MSP will inject its entire existing business and production assets, as well as workforce, to the JV company for 40 percent of its shares. Directors Minn Naing Oo and Oh Hsiu Hau led the transaction.

AZB & Partners has advised Clermont Trust on its sale of approximately 38.9 million equity shares of Indiabulls Ventures to Cinnamon Capital. Partners Rushabh Maniar and Divya Mundra led the transaction, which was valued at approximately Rs2.2 billion (US$34.35m) and was completed on May 10, 2017.

AZB & Partners is also advising Alpha FDI Holdings and Tata Capital Growth Fund I, both managed by Tata Capital and its affiliates, on the sale of their approximately 34.1 percent equity stake in Agile Electric Sub Assembly to Mr P Mukund. Partners Ashwin Ramanathan and Roxanne Anderson are leading the transaction, which was valued at approximately Rs4.25 billion (US$66.35m) and is yet to be completed.

Clifford Chance has advised National Australia Bank on the sale of its private wealth business in Singapore and Hong Kong to Oversea-Chinese Banking Corporation Bank. The business comprises a US$1.7 billion mortgage portfolio and a US$3.05 billion deposit portfolio, and serves more than 11,000 customers from the two booking centres of Singapore and Hong Kong. Singapore partner Lee Taylor, supported by regulatory partners Lena Ng (Singapore) and Matthias Feldman (Hong Kong) and real estate partner Clara Tang (Hong Kong), led the transaction.

Khaitan & Co has advised Citibank Jersey Branch on the US$11 million external commercial borrowing facility granted to Aarti Industries. Citibank India is the consumer division of financial services multinational Citigroup. Partner Devidas Banerji led the transaction.

Khaitan & Co has also advised DCB Bank on its qualified institutions placement of approximately 21.8 million equity shares for approximately US$59 million. DCB Bank is a new generation private sector bank with 262 branches across 18 states and two union territories. It has launched India’s first Aadhaar number and fingerprint-based biometric ATMs. Partner Nikhilesh Panchal and associate partner Madhur Kohli led the transaction.

Mayer Brown has advised Chinese Estates Holding, a Hong Kong-listed property development company, on the acquisition of 11-12 St James’s Square, London from the Employees’ Provident Wealth Fund of Malaysia for £174.9 million (US$225.75m). The 80,000 sq ft office building is multi-let to tenants, including Blackstone and Marble Bar Asset Management. London real estate head Chris Harvey, supported by real estate partner Andrew Hepner, tax transactions and consulting partner Sandy Bhogal and environmental partner Michael Hutchinson, led the transaction.

Rajah & Tann Singapore has advised Singapore-listed TEE International, one of the controlling shareholders in Singapore-listed CMC Infocomm, on its disposal of a substantial stake in the company to Yinda, thereby triggering a mandatory general offer on the purchaser’s part. CMC Infocomm group provides integrated communication solutions and services to communications network operators and communication network equipment vendors in Singapore, Malaysia, Thailand and the Philippines. Partners Danny Lim and Chia Lee Fong led the transaction.

Rajah & Tann Singapore has also acted as Singapore counsel to Singapore-listed QT Vascular on the disposal, by way of an asset purchase option agreement, to Medtronic of its non‐drug coated Chocolate® PTA Balloon Catheter product, which is used in the treatment, prevention, diagnosis or management of diseases in the peripheral vasculature. QT Vascular designs, assembles and distributes advanced therapeutic solutions for the minimally invasive treatment of complex vascular diseases. Partner Danny Lim led the transaction.

Shardul Amarchand Mangaldas & Co has advised Videocon d2h (VDL) on its merger into Dish TV India. It is the first consolidation in the direct-to-home broadcasting sector, resulting in one of the largest direct-to-home cable operators in India. Dish TV is Asia Pacific’s largest DTH company, while Videocon d2h is India’s fastest growing DTH service provider. This deal represents one of the few examples of an amalgamation of an entity with a competitor. Dish TV’s equity shares are listed in India while VDL’s American depositary shares are listed on the Nasdaq. The transaction involves a delisting and deregistration of VDL’s ADS from the Nasdaq and issuance of listed GDRs by Dish TV to such ADS holders, unless they elect to receive Dish TV equity shares instead. Partners Gunjan Shah, Arjun Ghose, Shruti Kanodia, Manjari Tyagi, Shweta Shroff Chopra and Aparna Mehraled the transaction, which was signed on November 11, 2016 and is yet to be completed. Luthra & Luthra, led by senior partner Mohit Saraf and supported by partners G R Bhatia, William Vivian John, Vaibhav Kakkar and Abdullah Hussain, along with partner designate Kanika Chaudhary Nayar, acted for Dish TV India, while Shearman and Sterling acted as international counsels for both Videocon d2h and Dish TV India.

Shook Lin & Bok has acted as Singapore counsel to Yanlord Land (HK) on its issue of US$450 million 5.875 percent senior notes due 2022, unconditionally and irrevocably guaranteed by Yanlord Land Group and certain of its subsidiaries. Partners Marilyn See and Gwendolyn Gn led the transaction.

Shook Lin & Bok has also acted for Maxi-Cash Financial Services on its establishment of a S$300 million (US$215m) multicurrency medium term note programme, under which it may issue notes from time to time. Partners Marilyn See and Lian Shueh Min led the transaction.

Sidley has represented China Merchants Bank as mandated lead arranger on an acquisition facility made available to a subsidiary of Creat Group in connection with an all cash offer for the voluntary takeover of Biotest, a German pharmaceutical company. The transaction was valued at €1.3 billion (US$1.44b), while the financing amounted to €940 million (US$1.04b). Partners Raymond Oh (Hong Kong), Markus Feil (Germany) and Marcus Kile(Germany) led the transaction, which was announced on April 7, 2017.

Simpson Thacher has represented J-Star on the formation of the its third Japan-focused fund series, the J-Star No.3 Series Funds. J-Star is a leading Japanese private equity fund sponsor, having won the PEI private equity firm of the year in Japan for five consecutive years. The J-Star No.3 Series Funds held its final closing on April 25, 2017, with ¥32.5 billion (US$286.3m) in aggregate capital commitments, exceeding the ¥30 billion (US$264.3m) target and reaching its aggregate fundraising hard cap. Hong Kong partner Adam Furber led the transaction.

Simpson Thacher has also represented Integral on the formation of Innovation Alpha, the offshore platform of its third Japan-focused fund series. The fund, together with the onshore platform of the fund series, held a final close on April 14, 2017, with ¥73 billion (US$643m) in aggregate capital commitments. The fund series was oversubscribed. Hong Kong partner Adam Furber also led the transaction.

S&R Associates has advised Satin Creditcare Network, a listed microfinance institution, on a preferential allotment of Rs643 million (US$10m) equity shares to Asian Development Bank and Rs300 million (US$4.7m) fully convertible warrants to Trishashna Holdings & Investments, a promoter group company. Co-founding partner Viral Mehta led the transaction.

S&R Associates has also advised Everest Edusys and Solutions on its proposed acquisition of the DigiSchool business from a wholly-owned subsidiary of HCL Infosystems for Rs200 million (US$3.12m) in cash and optionally convertible debentures and 33 percent of the equity share capital of Everest Edusys and Solutions. Partners Sandip Bhagat and Sudip Mahapatra led the transaction.

Wong & Partners, the member firm of Baker McKenzie International in Malaysia, has advised Media Prima on its proposed acquisition, through its wholly-owned subsidiary Media Prima Digital, of the entire share capital of Rev Asia Holdings from Rev Asia and Youth Asia for MYR105 million (US$24.3m). Media Prima Digital will acquire Rev Asia’s subsidiaries, which are involved in advertising, publication and internet social media services. Rev Asia is one of Southeast-Asia’s leading digital media businesses. Partner Munir Abdul Aziz led the transaction, which will create Malaysia’s largest digital media company.