Allen & Gledhill has acted as listing agent and Singapore counsel to The Hongkong Land Treasury Services (Singapore) Pte Ltd (HKLTS) in respect of the US$3 billion Guaranteed Medium Term Note Programme established by The Hongkong Land Notes Company Limited, The Hongkong Land Finance (Cayman Islands) Company Limited and HKLTS. The programme is unconditionally and irrevocably guaranteed by The Hongkong Land Company Limited. Standard Chartered Bank (Hong Kong) Limited and The Hongkong and Shanghai Banking Corporation Limited have acted as arrangers. Partners Tan Tze Gay and Glenn Foo were involved in the transaction.

Allens Arthur Robinson has acted for Hutchison in the merger of its Australian telecommunications business with Vodafone. After receiving clearance from the ACCC last week, the deal was completed on 10 June 2009 and has created a 50/50 joint venture, named Vodafone Hutchison Australia Pty Limited, which will be the Australia’s third largest mobile operator. The firm advised on Corporate, Integration Strategy and Competition matters, with partners Fiona Crosbie, Victoria Poole, Andrew Finch and Peter James involved. Corrs Chambers Westgarth and Clayton Utz acted for Vodafone.

Allens Arthur Robinson has also represented international integrated property group Goodman Group, in respect of its formation of a partnership with China Investment Corporation (CIC). Under the terms of the partnership, which was announced on 16 June 2009, CIC will commit A$200 million (approx US$159.2m) to a finance facility alongside Macquarie Bank, which takes the overall finance facility to A$485 million (approx US$386m). Subject to security holder approval, the Goodman Group will also issue 255.3 million options over Goodman stapled securities to the facility providers. Partners Stuart McCulloch and Nicky Andrews led the advisory team to the Goodman Group, whilst partners Alex Ding and Richard Gordon advised Macquarie Bank. Freehills acted for CIC.

AZB & Partners has advised the United Stock Exchange on its acquisition of a 10 percent stake in the International Multi Commodities Exchange (IMCE). The deal was jointly promoted by Indiabulls and MMTC at a consideration of INR10 billion (approx US$207.8m), with guidelines issues by the Forward Market Commission requiring Indiabulls to dilute its stake in IMCE to 40 percent. The firm’s team was led by Rajendra Barot.

Baker & McKenzie has acted for The Link Real Estate Investment Trust (The Link REIT) on two significant financing transactions: the establishment of a US$1 billion guaranteed euro medium-term note programme (the MTNP) and a HK$3 billion (approx US$387m) club loan facility. The MTNP was issued by The Link Finance (Cayman) 2009 Limited and guaranteed by The Link Holdings Limited, The Link Properties Limited and HSBC Institutional Trust Services (Asia) Limited (in its capacity as trustee of The Link REIT). The Link REIT signed the club loan facility with a consortium of banks, with The Link Finance Limited as borrower, and The Link Holdings Limited, The Link Properties Limited and HSBC Institutional Trust Services (Asia) Limited (in its capacity as trustee of The Link REIT) as guarantors. The transactions were led by the firm’s co-leader of its Asia-Pacific REIT practice, Milton Cheng, and banking and finance partner Brian Barron.

Baker & McKenzie has also represented China Minmetals Non-Ferrous Metals Co Ltd in respect of the company’s acquisition of the majority of assets of the OZ Minerals Group. The deal, viewed as a groundbreaking investment in Australia by a Chinese company, was originally structured to include the acquisition of 100 percent of OZ Minerals but had to be restructured following the Australian Government’s objection to the acquisition of the Prominent Hill mine in the Woomera Prohibited Area. The transaction, which has now proceeded following approval from OZ Minerals shareholders, is valued at US$1.386 billion. Nick Terry, Justin Shmith, Graeme Harris, Lizzie Knight and Clare Corke were all involved in advising on the transaction. Freehills acted as counsel to OZ Minerals.

Davis Polk & Wardwell has advised a syndicate of underwriters, co-led by Credit Suisse Securities (Canada) Inc and Dundee Securities Corporation, to the secondary offering of more than 34 million common shares in Sino-Forest Corporation, one of the largest foreign-owned commercial tree plantation operators in the PRC. Valued at CD$380 million (approx US$346.6m), the offering consisted of a public offering in Canada and Rule 144A and Regulation S offerings in the US and other jurisdictions. Hong Kong-based partner William F. Barron and London-based partner John D. Paton advised on the transaction.

Kim & Chang has advised Eco Energy Holdings Co Ltd (EEH), a listed South Korea-based alternative energy development company, on its acquisition of a controlling stake in Eco Energy Co Ltd, an unlisted landfill gas plant operator. In addition to its existing 16.6 percent of the outstanding common shares in Eco Energy, EEH purchased an additional 53.4 percent interest under the terms of the acquisition from Korea Infrastructure Fund, increasing its total shareholding to 70 percent. Key partners advising on the transaction were S.Y. Park, Y.K. Cho and T.G. Roh.

Luthra & Luthra Law Offices has advised India’s largest private iron ore exporter Sesa Goa Limited on its direct and indirect acquisition of the mining assets of the Goa-based Dempo Group. The deal was valued at approximately US$368 million. The acquisition involved a 100 percent equity stake in VS Dempo & Co Pvt Ltd, which in turn holds 100 percent of the equity shares of Dempo Mining Corporation Pvt Ltd and a 50 percent stake in Goa Maritime Pvt Ltd.

Mallesons Stephan Jaques has acted for the underwriters, UBS and RBS, on Asciano’s A$2 billion (approx US$1.59b) rights issue. The equity raising comprised of a 1-for-1 underwritten accelerated non-renounceable pro-rata entitlement offer to existing securityholders valued at approximately A$769 million, a A$231 million underwritten unconditional placement to professional and sophisticated investors, a A$1 billion placement to professional and sophisticated investors (conditional on shareholder approval) and a A$151 million non-underwritten conditional placement to professional and sophisticated investors (conditional on shareholder approval). Partners Peter Cook, David Friedlander and Meredith Paynter led the transaction.

Mallesons Stephen Jaques has also acted as Hong Kong legal advisers to the joint sponsors (Credit Suisse (Hong Kong) Limited and Somerley Limited), joint global coordinators (Credit Suisse (Hong Kong) Limited, BOCI Asia Limited and Macquarie Capital Securities Limited) and underwriters in relation to Lumena Resources Corp’s initial public offering (IPO). In terms of production capacity, Lumena is the second largest thenardite producer in the world. Listed on the Main Board of the Hong Kong Stock Exchange, the IPO raised HK$1.15 billion (US$149 million). The firm’s team was led by M&A partner Dieter Yih.

Shearman & Sterling LLP has represented global, multi-stage investment firm Norwest Venture Partners in its acquisition of a 2.11 percent stake in India’s National Stock Exchange (NSE) from IL&FS Securities Services Limited for approximately R250 crore (approx US$50.5m). The deal values the NSE at approximately R12,000 crore (approx US$2.55b). The National Stock Exchange is India’s largest exchange and ranks third globally by number of trades in the equities market. Hong Kong-based partner Paul Strecker led the firm’s team.

Stamford Law has acted as the legal advisor of Japan Residential Asset Manager Limited (the Manager of Saizen REIT) in relation to the Rights cum Warrants Issue of Saizen REIT, which involved an issuance of up to about 497 million new units of Saizen REIT (rights) with up to about 497 million free and detachable Warrants. The issue was fully subscribed for and raised gross proceeds of S$44.75 million (approx US$30.7m). In the event that all the Warrants are exercised, there will be further gross proceeds of approximately S$44.75 million. Director Ng Joo Khin led the transaction.

Stamford Law has advised PT Jasapower Indonesia, the investment subsidiary of PT Adaro Energy Tbk, on its acquisition of a 74.16 percent interest in Orchard Maritime Logistics Pte Ltd, a provider of coal barging services. The acquisition was valued at US$78.55 million. Director Yap Wai Ming led the transaction.

In addition, Stamford Law has advised Surbana Land Pte Ltd on its joint venture with SembCorp Industrial Parks Ltd and Yanlord Land Pte Ltd to form investment holding company Singapore Intelligent Eco Island Development Pte Ltd. Pursuant to the terms of the joint venture agreement, valued at USD$99 million, the newly formed company will invest in a property development project in Nanjing in the PRC. The advisory team was led by director Susan Kong.

Furthermore, Stamford Law has represented Intertek Group plc, a leading provider of quality and safety solutions, on its US$26.5 million acquisition of the WISco group of companies. Director Bernard Lui led the transaction.

Finally, Stamford Law has advised integrated support and marine services provider Ezra Holdings Limited in respect of its capital raising, which raised gross proceeds of S$92.43 million (US$63.95 million) despite the depressed values of offshore oil and gas assets around the world. The company raised the funds through a placement of 78 million new ordinary shares with Credit Suisse (Singapore) Limited, who acted as placement agent, and through a share lending arrangement with some of the company’s substantial shareholders. Director Bernard Lui led the transaction.

White & Case LLP has advised Greentown China Holdings Ltd, a luxury residential properties developer in China, in respect of the cash tender offer and consent solicitation for its US$400 million issue of 9.00 percent senior notes due 2013. While other China-based companies have sought to undertake tender offers and consent solicitations in recent months, Greentown is the first to secure the overwhelming support of investors. The firm’s team was led by Hong Kong-based partner Anna-Marie Slot, who was assisted by partners Steve Payne (Beijing) and Jeremy Leifer (Hong Kong).

White & Case LLP has also acted as sole international counsel to the Rajawali Group, a leading regional investment group based in Indonesia, on its sale of approximately a 56 percent stake in PT Bentoel Internasional Investama Tbk, Indonesia’s fourth largest cigarette maker, to British American Tobacco plc. The sale was valued at approximately US$326 million. William Kirschner of the firm’s Singapore office advised on the transaction, in addition to Hong-Kong based partners Barrye Wall and Jeremy Leifer and London-based Greg Stonefield.

Wong Partnership LLP has acted for CRL Realty Pte Ltd, a wholly-owned subsidiary of CapitaLand Limited, in the acquisition of the 100,000 shares held by a private fund (the vendor) in Ankerite Pte Ltd, as well as all of the shareholders’ loans extended by the vendor to Ankerite. Partner Karen Wee led the transaction.

WongPartnership LLP has also represented Swiber Holdings Limited in the placement of 84 million new ordinary shares, which are estimated to raise gross proceeds of approximately S$73.9 million (approx US$50.7m). Partners Raymond Tong and Tok Boon Sheng led the transaction.

Allen & Gledhill LLP has advised PSA Corporation Limited (PSA) on its issuance of S$300 million (approx US$207m) Fixed Rate Notes due 2019. DBS Bank Ltd has acted as lead manager and bookrunner for the issue whilst DBS Trustee Ltd has acted as trustee for the noteholders. Partners Tan Tze Gay and Glenn Foo have advised PSA whilst partner Margaret Chin has advised DBS Bank Ltd and DBS Trustee Ltd.

Allen & Overy LLP has acted as counsel to the Bangkok Branch of The Hongkong and Shanghai Banking Corporation Limited (HSBC), as the lead manager on the THB4 billion (approx US$117.2m) bonds issued by Commonwealth Bank of Australia (CBA). The first bonds issued in the Thai market by a foreign corporation since September 2008 have received a “AA” rating from Standard & Poor’s and a “Aa1” rating from Moody’s. The Siam Commercial Bank Public Company Limited acted as the Bondholders’ Representative and Thailand Depository Company Limited was appointed as Registrar. Partner Stephen Jaggs led the firm’s team.

Allens Arthur Robinson has acted for GPT RE Limited, one of Australia’s largest diversified listed property groups, in respect of the sale of Perth’s Floreat Forum shopping centre to property investment and development company Australasian Property Investments Pty Limited (API). The sale, valued at A$100 million (approx US$80.3m), is conditional on the GPT Wholesale Shopping Centre Fund waiving its right to acquire the shopping centre, and council consent to assign agreements over council-owned property within the shopping centre to the purchaser. Sydney-based partner Nicholas Cowie led the Allens team, whilst Lavan Legal acted for API and Corrs Chambers Westgarth acted for the Town of Cambridge.

Allens Arthur Robinson has also acted for the Commonwealth Bank of Australia (CBA) in regards to the bank’s issuance of bonds valued at THB 4 billion (approx US$117.2m) into the Thai debt markets. The transaction, marking the first time an Australian organisation has issued bonds into the Thai debt market, has two tranches of senior bonds, one with a four year maturity and the other with a seven year maturity. Sydney-based partners David Clifford and Bangkok-based partner Marcus Clark led the deal.

In addition, Allens Arthur Robinson is representing the National Australia Bank Limited (NAB) in its role as private sector project financier of the South East Queensland Schools Public Private Partnership Project. Seven new state schools will be built under the initiative, which involves the first use of the ‘supported debt model’ developed by the Queensland Treasury, which aims to lower the overall cost of debt for PPPs by having the Queensland Treasury Corporation provide the ‘risk free’ portion of the funding for the operating phase of the Project. Under the transaction, which closed on 29 May 2009, Allens also acted for NAB in its capacities as Senior Construction Lender, Subordinated Lender (Construction and Operating phases), Working Capital Provider, Swap Bank, Facility Agent and Security Trustee. Partners Phillip Cornwell and Alan Millhouse led the firm’s Sydney and Brisbane-based team. Freehills and Minter Ellison are also acting for interested parties to the transaction.

AZB & Partners has advised Prolec-GE Internacional, S DE RL DE CV (PGE) in respect of its acquisition of the entire promoter stake (approximately 52 percent) of Indo Tech Transformers Limited (ITT), and a further 20 percent of ITT’s shares from its public shareholders pursuant to an open offer carried out by PGE. AZB partner Vishnu Jerome led the firm’s team, whilst J. Sagar and Associates acted as legal advisers to the promoters.

Davis Polk & Wardwell has advised the exclusive dealer manager Deutsche Bank AG, London Branch in respect of the cash tender offer and consent solicitation by Greentown China Holdings Limited (Greentown) to purchase any and all of its outstanding US$400 million 9.00 percent Senior Notes due 2013. A leading residential property developer in China, Greentown primarily develops quality residential properties targeting middle to higher income residents in China. Partner William F. Barron advised on the offer.

Davis Polk & Wardwell has also advised Shanda Interactive Entertainment Limited, a leading interactive entertainment media company, on its acquisition of a controlling interest in Hurray! Holding Co Ltd, an artist development, music production and wireless interactive entertainment company. Under the terms of the agreement, which was completed on 9 June 2009, Shanda has acquired 51 percent of the issued and outstanding shares of Hurray!. The aggregate amount of the purchase price was approximately US$46.2 million. The tender offer is subject to a number of customary closing conditions and is expected to close in the third quarter of 2009. Partners James C. Lin and Mark J. Lehmkuhler from the firm’s Hong Kong office advised on the transaction, whilst London-based partner John D. Paton provided tax advice. Morrison & Foerster acted as legal counsel to Hurray! Holding Co Ltd. Weil Gotshal represented Nomura International (Hong Kong) Limited in its role as financial adviser to Hurray! Holding Co Ltd on the transaction. The Weil team was led by Akiko Mikumo, Managing Partner for Asia and head of the Hong Kong office.

Fried, Frank, Harris, Shriver & Jacobson LLP, in association with Huen Wong & Co, has represented joint placing agents China International Capital Corporation Hong Kong Securities Limited and Citigroup Global Markets Asia Limited in respect of the “top-up” placement of 90 million shares of Chinese manufacturer Xinyi Glass Holdings Limited (Xinyi), and the private placement of 80 million shares of Xinyi by its controlling shareholders. The combined transactions resulted in aggregate proceeds of approximately US$125 million. Corporate partners Joseph Lee and Joshua Wechsler led the firm’s team.

Gide Loyrette Nouel (GLN) has advised LuxChina Property Development Company, a joint venture between Dr Stanley Ho and Bernard Arnault, in relation to developing a property project in Shanghai. Shanghai-based partner David Boitout and Hong Kong-based partner Rebecca Silli led the team advising on the acquisition of project land, construction and operation related contracts and documents. Located in Hongqiao Development Zone, the project is known as L’Avenue Shanghai and is expected to create 140,000 square metres of premium commercial and retail space by 2012.

Mallesons Stephen Jaques has advised the owners of Mondaine Watch Limited in respect of their acquisition of the Hong Kong and mainland China-based watch and jewellery business of the EganaGoldpfeil (Holding) Limited’s group, which has worldwide manufacturing and distribution licenses for the Esprit and Puma watch and jewellery brands. The Mallesons team was led by the firm’s managing partner in China, Larry Kwok.

Paul, Hastings, Janofsky & Walker has advised Deutsche Bank AG, Hong Kong as the financial adviser of Franshion Properties (China) Limited (Franshion), a subsidiary of Sinochem Corporation, in a rights issue to raise approximately US$348.3 million. Franshion intends to use the proceeds to fund the company’s acquisition of Jin Mao Group, which owns the Jinmao Tower, a landmark office building in Shanghai. Hong Kong-based partner Raymond Li led the team.

Simmons & Simmons has advised the dealers (Barclays Bank PLC, BNP Paribas, DBS Bank Ltd, JP Morgan Securities Ltd, Mitsubishi UFJ Securities International plc, QNB Capital LLC and The Royal Bank of Scotland plc) on Qatari law issues in respect of Qtel’s groundbreaking US$5 billion Global Medium Term Notes programme. The programme is the first in Qatar not to be issued by a bank, the sixth largest debt programme on record in the Middle East, and the first MTN programme to be issued by a telecommunications company in the Middle East. Finance partner Samer Eido led the firm’s team, with assistance from TMT partner Alexander Shepherd from the Dubai office. Clifford Chance LLP acted as advisors to the issuer, QTEL International Finance Limited and the guarantor Qatar Telecom (Qtel) QSC, whilst Allen & Overy advised the dealers as to matters of English law.

Stamford Law Corporation has advised Temasek Holdings Private Limited (Temasek) on its S$437.5 million (approx US$303m) subscription in global commodities player Olam International Limited (Olam). The transaction, generally perceived as a strategic and mutually beneficial deal, will provide Temasek with a 13.76 percent stake in Olam post-subscription, making it the second-largest shareholder. Through its wholly-owned subsidiaries, Temasek will pay S$1.60 (approx US$1.1 dollars) per share for a total of 273.5 million new ordinary shares. The deal was led by senior director Lee Suet Fern and directors Ng Joo Khin and Soh Chun Bin.

Stamford Law Corporation has advised Neptune Orient Lines Limited (NOL) on its capital raising issuance that is expected to raise close to S$1.44 billion (approx US$1b). Looking for a competitive edge amidst the downturn, NOL is hoping to strengthen its balance sheet and fund its operations and prospective investments. News of the deal, which was structured quickly following intensive discussions with parties over a single weekend, pushed NOL’s share prices up by 10 percent on 2 June 2009. The joint lead managers and underwriters of the rights issue are DBS Bank Ltd, JP Morgan (SEA) Limited, Morgan Stanley Asia (Singapore) Pte and The Hongkong and Shanghai Banking Corporation Limited. The issue of three rights shares for every four existing shares is fully backed by majority owner Temasek Holdings. The firm’s advisory team was led by Lee Suet Fern and Ng Joo Khin.

WongPartnership LLP has acted for ElectroTech Investments Limited (EIL) in respect of the company’s merger with ETLA Limited (ETLA). Under the transaction, EIL has acquired all the shares in the capital of ETLA in consideration for the allotment and issue of new EIL shares to the ETLA shareholders by way of a scheme of arrangement under Section 210 of the Companies Act, Chapter 50 of Singapore. Partners Andrew Ang and Linda Wee led the transaction.

WongPartnership LLP has also acted for Armarda Group Limited in its placement of approximately 123 million new shares. Partners Raymond Tong and Lim Hon Yi led the transaction.

Finally, WongPartnership LLP has represented Straits Trading Company Limited (STC) and Tecity Pte Ltd (Tecity) in relation to a share transfer agreement pursuant to which Tecity and its related entities provided cash consideration and transferred approximately 14.7 million ordinary shares in WBL Corporation Limited to STC in return for the following: approximately 26.6 million ordinary shares in United Engineers Limited; approximately 3.6 million ordinary shares in Hotel Royal Limited; and 1 million SengKang Mall Ltd S$134 million Secured Fixed Rate Junior Bonds Due 2012, and held by STC and. The transaction value is approximately S$51.34 million (approx US$35.4m). Partners Andrew Ang and Dawn Law led the transaction.

Yulchon has represented both parties in a joint venture between Samsung Electronics Co Ltd and Samsung Electro-Mechanics Co Ltd. The transaction, valued at KRW 280 billion (approx US$215m) has resulted in the creation of Samsung LED Co Ltd and, although involving affiliates, was complicated by issues including in-kind contributions and business combination reports to several jurisdictions (including individual countries in the EU, as well as China and Korea). The firm’s team was led by attorneys Youngjin Jung, Sung Wook Eun and Kyoung Yeon Kim.

Clayton Utz has also represented Hong Kong-based Noble Group (Noble) in its acquisition of control of Gloucester Coal. Noble’s move to gain outright control of Gloucester Coal followed ground-breaking proceedings before the Takeovers Panel that resulted in a declaration of unacceptable circumstances in relation to the affairs of Gloucester Coal. Partners John Elliott and Karen Evans-Cullen led the firm’s team in successfully applying to the Panel on behalf of Noble in relation to a scrip bid ― effectively a reverse takeover ― by Gloucester Coal for Whitehaven Coal.

Clifford Chance has advised the Lim Family of Malaysia on the sale of its stake in gaming and leisure operator Genting Singapore PLC, which operates and develops gaming and integrated leisure resorts in Asia. The Family’s stake, which raised approximately US$425 million, was sold in a book-built institutional private placement on 27 May, with settlement due to occur on 1 June. The Family will retain an interest in Genting Singapore through its parent company, the Genting Berhad group. Singapore-based partner Lee Taylor led the firm’s team.

Kim & Chang has advised KT Corporation (KT), the biggest fixed line and broadband operator in South Korea, on its merger with its mobile business subsidiary KT Freetel Co Ltd (KTF). KT is the surviving entity as a result of the transaction, which was effective as of 1 June 2009. KT held a 54 percent stake of KTF, with the remaining shareholders receiving treasury shares or newly issued shares of KT stock. The second largest shareholder of KTF, Japanese mobile operator NTT DoCoMo, agreed to swap 40 percent of its stake for KT common stock, and the remaining 60 percent for KT exchangeable bonds. Partner: M.J. Chung led the firm’s team, which advised on the entire merger process including anti-trust matters and Korea Communications Commission clearance.

Sheppard Mullin has represented SolarNet LLC, a solar energy solutions provider, and its minority owners in a majority investment by ITOCHU Corporation, a diverse global trading company and one of Japan’s largest corporations. As a result of the transaction, SolarNet LLC will be operated as a majority-owned subsidiary of ITOCHU. The deal was led by partner Linda Michaelson.

Vinson & Elkins LLP has advised a consortium comprising of China National Offshore Oil Corporation (CNOOC) and China Petroleum & Chemical Corporation (Sinopec), two of China’s largest state-owned petroleum and petrochemical companies, on its joint purchase of all Talisman Energy Inc’s oil & gas assets in Trinidad and Tobago. The deal involved both share and asset acquisitions and is valued at C$380 million (approx US$315m). China-based partner David Blumental and US-based partner Boyd Carano lead the firm’s team.

WongPartnership LLP has acted for Credit Suisse (Singapore) Limited in the placement by Ezra Holdings Limited of up to 78 million new shares, which raised an aggregate gross amount of approximately S$92.43 million (approx US$64.1m). Partners Raymond Tong and Karen Yeoh led the transaction.

Allen & Gledhill LLP has also advised sole bookrunner, lead manager and underwriter Credit Suisse (Singapore) Limited in respect of the proposed issue by CapitaLand Limited of S$1.1 billion (approx US$761m) 2.875 percent convertible bonds due 2016. The bonds, which are convertible into new ordinary shares in the capital of CapitaLand, have been fully placed to institutional and sophisticated investors. Under the terms of the issuance, Credit Suisse has an option to increase the size of the issue by up to S$100 million, which is exercisable by 29 August 2009. Partners Lim Mei and Hilary Low were involved.

Allens Arthur Robinson has acted for Amcor Limited (Amcor) in connection with its A$3.1 billion (approx US$2.58b) equity and debt funding package for the proposed acquisition of Alcan Packaging (Alcan) from the Rio Tinto Group. The acquisition is valued at over US$2 billion and involves Amcor acquiring businesses across Europe, North America and Asia with approximately 14,000 employees, which would make Amcor one of the largest packaging companies in the world. Partners Robert Pick, Cameron Price and Phillip Cornwell were all involved in advising.

Allens Arthur Robinson is acting for Queensland-based coal producer Felix Resources (Felix) in relation to its acquisition by leading Chinese resource company Yanzhou Coal Mining Company Limited (Yanzhou). The sale, valued at approximately A$3.5 billion (approx US$2.89b), is subject to regulatory approvals and is expected to be completed by the end of the year. Leading the transaction is Brisbane-based partner Andrew Knox, who has commented, “Yanzhou has highlighted that they intend to increase investment in existing mines and undertake further exploration projects. [We] are seeing a significant amount of economic inter-connection between Queensland, Australia and Asia and that is set to accelerate”. Corrs Chambers Westgarth is acting as Australian counsel to Yanzhou.

Ashurst has advised PT Medco Energi International TBK (PT Medco) on the sale of its combined 25 percent working interest in the Kakap PSC block to Star Energy Holdings Pte Ltd. The transaction was structured by way of two Sales & Purchase Agreements (SPAs). The first SPA was in respect of a 9 percent working interest in the Kakap block, whilst the second SPA was in respect of a 16 percent working interest in the block and was conditional on completion of the first SPA. The firm’s team was led by partners Ashley Wright and Susan Roy.

AZB & Partners has represented Tyco Electronics Corporation India Private Limited in respect of the transfer, by way of slump sale, of its entire wire harness division to BSA Facilities Limited (BSA), and in respect of its execution of a Business Transfer Agreement with BSA. Partner Percival Billimoria led the transaction, which was valued at approximately US$822 thousand.

Baker & McKenzie has advised Electric Power Development Co Ltd (J-Power) and Chugoku Electric Power Co Inc (Chugoku) in respect of their purchase of a combined 10 percent stake in Chinese power company Gemeng International Energy Co Ltd (Gemeng). J-Power and Chugoku have signed an agreement to respectively purchase 7 percent and 3 percent stakes in Gemeng, for approximately ¥10 billion (approx US$106m) and ¥4 billion (US$42.4m). The sale of the stakes by Deutsche Capital Hong Kong Ltd will see J-Power become the fourth-largest shareholder in Gemeng, whilst the transaction also allows J-Power and Chugoku to expand their presence in China. Partners Anne Hung (Tokyo) and Danian Zhang (Shanghai) were involved in advising.

Clayton Utz has advised on the Australian regulatory aspects of the merger of French banking groups Groupe Caisse d’Epargne and Groupe Banque Populaire. Following the completion of the deal on 31 July 2009, the merged entity Groupe BPCE has become France’s number two banking group. Partner Greg Hoffman led a team in advising on the transaction.

Clayton Utz has also advised Macquarie Capital Advisers Limited as the sole lead manager and underwriter in respect of the initial public offering by online automotive advertising business carsales.com Limited. Partner Brendan Groves led the transaction.

Cleary Gottlieb Steen & Hamilton LLP has represented Petroliam Nasional Berhad (Petronas), a fully integrated oil and gas corporation wholly owned by the Malaysian government and ranked among the FORTUNE Global 500, in respect of a Rule 144A/Regulation S offering of US$3 billion 5.25 percent senior notes due 2019. Guaranteed by Petronas, the notes were issued by Petronas Capital Limited, a Labuan special purpose company and finance subsidiary of the company. Closed on 12 August 2009, the offering represents the largest corporate debt issuance in Asia outside Japan in the last five years. Hong-Kong based partner S. K Kang was involved in advising.

In addition to the above transaction, Cleary Gottlieb Steen & Hamilton LLP concurrently advised Petronas on a US$1.5 billion sharia-compliant trust certificates offering due 2014, with partner S. K Kang again involved. The sukuk offering, issued by Labuan special purpose company Petronas Global Sukuk Ltd, is one of the two largest global sukuk transactions ever undertaken, and the first global corporate sukuk transaction in 2009. Lovells acted as Sharia transaction counsel and English law counsel to global coordinator and co-lead manager Morgan Stanley, whilst also advising the other lead managers CIMB and Citi. The Lovells team was led by the firm’s global head of Islamic Finance, Rahail Ali. The firm’s London and Singapore offices also advised The Bank of New York Mellon in its roles as agent and delegate trustee for the sukuk.

Clifford Chance has advised on two new transactions involving Indian clean wind power company Suzlon Energy Limited (Suzlon). Led by partners Alex Lloyd (Hong Kong) and Rahul Guptan (India Capital Markets Unit, Singapore), the firm has advised Deutsche Bank and Macquarie on Suzlon’s issuance of US$90 million zero coupon convertible bonds due 2014. A Singapore-based team, also led by Rahul Guptan, has advised Citi, Deutsche Bank, Credit Suisse and Yes Bank on Suzlon’s issuance of 14.6 million global depositary receipts (GDRs) valued at over US$108 million. Listed on the Luxembourg Stock Exchange and the Singapore Stock Exchange respectively, the GDRs and convertible bonds were both issued on 24 July 2009 and will provide Suzlon with over US$200 million in additional capital. AZB & Partners, which has a “best friends” arrangement with Clifford Chance, also advised Deutsche Bank and Macquarie on the convertible bonds issue.

Clifford Chance has also advised the Royal Group of Cambodia Ltd (Royal Group), a varied portfolio of businesses in Cambodia with interests in telecommunications, technology, finance, leisure, media, transportation, logistics and property, in connection with its US$346 million cash purchase of the Cambodian operations of Millicom International Cellular SA (Millicom). For the past 14 years leading up to this recent purchase, the Royal Group had partnered with Millicom to develop and operate mobile services in Cambodia. Subject to financing, the transaction will be the largest M&A transaction ever completed in Cambodia, with the Cambodian operations commanding an enterprise value of US$605 million. Partner Andrew Whan led the firm’s team in advising.

Clyde & Co LLP has advised Abu Dhabi National Insurance Company PSC (ADNIC) and Talbot Underwriting Limited (Talbot) in respect of their successful application to the Dubai Financial Services Authority (DFSA) to establish a joint venture entity in the Dubai International Financial Centre (DIFC). Authorisation from the DFSA means the joint venture, Underwriting Risk Services (Middle East) Limited (URSME), can offer clients facultative reinsurance products. The authorisation also enables URSME partners to expand their commercial insurance business across the MENA region. The firm’s team was lead by partner James O’Shea, with the firm’s Real Estate and Employment teams also advising the joint venture partners on associated leasing and employment issues.

Freshfields Bruckhaus Deringer is advising Sinochem, one of China’s largest state-owned enterprises focusing on energy, agriculture, chemicals, finance and real estate, on the proposed £532.1 million (approx US$876.6m) recommended cash acquisition by Sinochem Resources UK Limited of Emerald Energy Plc, a UK-based FTSE-250 oil and gas explorer and producer in South America and the Middle East. It is expected that the acquisition will be effected by way of a scheme of arrangement under Isle of Man law. The firm’s team is being led by corporate partners Chris Wong in Beijing and Graham Watson in London, and includes Beijing-based antitrust partner Michael Han. Partner Nicholas Squire is advising on employment and employee benefit matters.

K&L Gates LLP has been involved in both of the first two foreign company listings on Taiwan’s Emerging Stock Exchange (ESM). The firm has advised network solutions company Array Inc, the first foreign company to have its shares traded on the ESM. The firm has also advised Horizon Securities as the lead manager in respect of the listing by Cowealth Medical, a distributor of medical products and devices. Taipei-based partners James Chen and Sin Khai Tan were involved.

Khaitan & Co has advised Meher Holdings Private Limited (MHPL), a company with a 30 percent market share in the Indian power factor correction market, in relation to the sale of its Capacitors and Components Business to Schneider Electronic India Private Limited. The transaction was conducted on a slump sale basis along with trademarks and goodwill associated with the business. Whilst the value of the sale is confidential, the turnover of the newly-acquired business has been estimated at approximately US$8.31 million. Partner Rajiv Khaitan led the firm’s team in advising MHPL.

KhattarWong is acting for Chunghong Holdings Limited (Chunghong) in connection with the company’s voluntary delisting pursuant to Rules 1307 and 1309 of the SGX-ST Listing Manual. Presently listed on the Main Board of the SGX-ST, Chunghong’s main activity is investment holding, whilst the principal activities of the Chunghong Group include providing printed circuit board assembly and original equipment manufacturing services. The delisting has come about following the formal proposal to Chunghong’s Board of Directors by Lead Data Inc, via its wholly-owned subsidiary E-Top Union Inc, in April 2009 to seek the voluntary delisting of the company. Partner Lawrence Wong is advising.

Mallesons Stephen Jaques has acted for the joint lead managers and underwriters JP Morgan Australia Limited and Macquarie Capital Advisers Limited in connection with the A$300 million (approx US$248m) capital raising by the Bendigo and Adelaide Bank. The 1-for-12 non-renounceable accelerated entitlement offer and placement went against the current market trend of conducting fundraising without a prospectus, however the deal was still completed under a very compressed timetable. The firm’s team was led by partner Jonathan Hamer.

Mallesons Stephen Jaques has also acted for Morgan Stanley as the underwriter in respect of the A$115m (approx US$95.1m) capital raising by the Photon Group (PG). PG has already raised A$26.6 million via an institutional placement and is hoping to raising an additional A$87.9 million via a one-for-two rights issue to shareholders. Partner David Eliakim led the transaction.

Finally, Mallesons Stephen Jaques has acted for Challenger Financial Services Group (Challenger) on the A$385 million (approx US$318.4m) sale of its mortgage aggregation business to National Australia Bank (NAB). In addition to NAB acquiring the mortgage management business of Challenger, the deal also includes a portfolio of residential mortgages and a 17.5 percent stake in Homeloans Ltd. Tim Bednall was the lead partner on the transaction, with the firm drawing on its M&A, Securitisation, IP and Tax capabilities in advising Challenger.

Milbank, Tweed, Hadley & McCloy LLP has advised GCL Solar (Jiangsu Zhongneng), a polysilicon manufacturer based in Jiangsu, in respect of its acquisition by China power co-generation company GCL-Poly. Valued at US$3.4 billion, the transaction is the biggest M&A deal in China reported in the first half of 2009. The firm also advised GCL-Poly on its issuance of US$350 million in notes, the proceeds of which were used as part of the consideration to acquire GCL Solar. The firm’s team was led by the head of its Global Securities Group, New York-based lawyer Douglas A. Tanner. Acting as Hong Kong counsel were Freshfields Bruckhaus Deringer on behalf of GCL Solar, and Hogan & Hartson on behalf of GCL-Poly. Allen & Overy and Ropes & Gray also advised related parties to the transaction.

Paul, Hastings, Janofsky & Walker has advised Hong Kong-listed CIMC Enric (Enric) on the expansion of its transportation, storage and equipment business as a result of acquisitions in China and Europe. Enric has become one of the largest international transportation, storage and processing equipment manufacturers and service providers as a result of the acquisitions, which were successfully completed on 14 August 2009 and valued at US$543 million. The firm’s team was led by Raymond Li and Phoebus Chu.

Paul, Hastings, Janofsky & Walker LLP has also represented Korean Air in respect of the company’s proposed redevelopment of the Wilshire Grand Hotel and office site in the heart of Los Angeles’ financial district. Under the terms of the redevelopment, which is valued at US$1 billion, Korean Air will replace the existing complex with two high-rise towers: a 40-story tower featuring a luxury hotel with several floors of condominiums, and a 1.15 million square-foot, 60-story office tower. Partners Robert Keane and Mitch Menzer led the firm’s team from its Los Angeles’ office, with Jong Han Kim, a partner in the firm’s Korea Practice, leading the team in Hong Kong. In addition to having advised on the entitlements process, the firm will continue to advise Korean Air on the overall project.

Sidley Austin has advised The Bank of East Asia (China) Limited, a wholly owned subsidiary of The Bank of East Asia Limited, in connection with its debut issuance of renminbi denominated bonds in the aggregate principal amount of RMB 4 billion (approx US$585.2m). The 2.8 percent bonds due 2011, which were issued pursuant to Regulation S under the US Securities Act and the Hong Kong securities laws, contained two parts – one for the public subscription by Hong Kong retail investors and the other for institutional investors. The firm’s team was led by Hong Kong-based partners Timothy Li and Constance Choy.

Skadden, Arps, Slate, Meagher & Flom & Affiliates has represented Wumart Stores Inc (Wumart), a leading retail-chain store operator in China, in connection with the HK$1.65 billion (US$213m) strategic investment in the company by TPG Capital, Hony Capital and Legend Holdings. The investors receive an aggregate 10.9 percent of the total enlarged issued share capital of Wumart (through newly issued ordinary H-shares and newly issued domestic shares) as a result of the transaction, which provides Wumart with additional resources to finance its continued expansion of stores in the PRC. The firm’s team was led by Nicholas Norris, co head of its Hong Kong law practice. Credit Suisse was sole financial adviser to Wumart, whilst Haiwen & Partners acted as PRC Counsel to the company.

Slaughter and May has advised Swire Pacific Limited (Swire) in respect of its agreement on 17 August 2009 to purchase over 78.6 million shares in Cathay Pacific from CITIC Pacific Limited (CITIC), for an aggregate consideration of approximately HK$1.013 billion (approx US$130.6m). Partner Lisa Chung led the firm’s team in advising Swire, whose stake in Cathay Pacific will increase from 39.97 percent to 41.97 percent following completion of the deal. In a deal struck on the same day, Freshfields Bruckhaus Deringer has advised Air China in relation to its agreement to purchase over 491 million Cathay Pacific shares from CITIC. The US$825 million acquisition of an additional 12.5 percent stake in Cathay Pacific will raise Air China’s stake in the other airline to 29.99 percent. The firm’s team was led by Hong Kong corporate partner Kay Ian Ng, with partners Alan Ryan and Michael Han providing competition law advice.

Wong Beh & Toh has advised Multi Sports Holdings Ltd in respect of its listing on the main market of Bursa Malaysia Securities Berhad. As part of the company’s initial public offering, over 100 million ordinary shares were issued at a price of US$0.05 each. This transaction marks the second time the firm has advised on a direct listing in Malaysia by a Bermuda company with assets and operations in China. Partners Wong Tat Chung and Yeap Li Lin led the transaction.

WongPartnership LLP has also acted for CapitaLand Limited in relation to its issue of up to S$1.2 billion 2.875 percent convertible bonds due 2016. Led by partners Rachel Eng and Colin Ong, the issuance is the largest and longest tenor convertible bond transaction for an Asian listed issuer to date in 2009.

In addition, WongPartnership LLP has acted for Merrill Lynch (Singapore) Pte Ltd as lead manager, underwriter and financial advisor, in respect of Keppel Land Limited’s nine-for-ten renounceable underwritten rights issue. The transaction raised gross proceeds of approximately S$707.6 million (approx US$489m). Partners Rachel Eng, Long Chee Shan and Tok Boon Sheng advised on the transaction.

Finally, WongPartnership LLP has acted for Tat Hong Holdings Ltd in relation to the S$65 million (approx US$44.9m) investment in the company by AIF Capital III Shipping & Logistics Limited (AIF), by way of convertible redeemable preference shares. Partners Raymond Tong, Chan Sing Yee and Pong Chen Yih led the transaction.

Khaitan & Co advised Novavax Inc in relation to their joint venture with Cadila Pharmaceuticals for the licensing, manufacture and sale of various pharmaceutical preparations and vaccines in and outside India. The companies will form an 80-20 joint venture in India to which they will contribute licenses for the development and manufacture of certain products.

KhattarWong advised the Economic Development Board in relation to a S$300 million term loan granted by the EDB to Micron Technology Inc. Managing partner Tan Chong Huat led the team of advisors to the client on this transaction.

Pinsent Masons has advised Veolia Transport China Ltd on a 50-50 partnership with Wharf Transport Investments Ltd to operate Hong Kong Tramways Ltd. Partner Peter Bullock led the collaborating team advising on due diligence and Hong Kong aspects of the transaction.

WongPartnership LLP acted for UOL Development Ltd and UOL Group Ltd in the S$239.15 million syndicated secured financing comprising of a transferable term loan facility and a banker’s guarantee facility for the enbloc acquisition and development of a residential development straddling two separate pieces of property. Partners Susan Wong and Monica Yip led the transaction.

WongPartnership LLP acted as Singapore counsel to the lenders in relation to the 850 million Swiss francs facilities granted by a syndicate of banks to certain Gate Gourmet entities. The facilities granted refinanced, inter alia, the incorporation of a Singapore entity, Gate Gourmet Singapore Pte Ltd and financed, inter alia, the acquisition of the deSter Holding BV group. Partner Christy Lim led the transaction.

Orrick, Herrington & Sutcliffe LLP represented Antara Holdings (Asia) Ltd in the negotiation of an early stage investment by Preferred Freezer Services LLC. The project involves an environmentally-friendly cold storage facility in Ho Chi Minh City, which aims to have a zero-carbon footprint. The firm also represented Antara in connection with a US$14 million long term fixed rate loan provided to the company. The team was led by corporate partner David Halperin.

Orrick, Herrington & Sutcliffe LLP represented Gmarket Inc in eBay’s all cash public tender offer for up to 100 percent of Gmarket for US$1.2 billion. Subject to regulatory approvals, the transaction is expected to close in June 2009. The team included corporate partners Mark J Lee and David Cho in Hong Kong and M&A co-chair Richard Vernon Smith in San Francisco.

Orrick, Herrington & Sutcliffe LLP has advised Woori Investment & Securities in relation to the establishment and launch of two hedge funds, Woori Absolute Asia Multi-Strategy Fund and Woori Absolute Global Opportunities Fund, with initial capital of US$100 million. The advisory team was led by partners Sook Young Yeu in Hong Kong and Eugene Chang in Tokyo.

Paul, Hastings, Janofsky & Walker has advised Shimao Property Holdings in its HK$1.9 billion (approximately US$240 million) top-up placement. Morgan Stanley and JP Morgan were the joint book runners of the offering. Hong Kong partner Sammy Li led the advisory team.

Troutman Sanders has represented The Carlyle Group in its US$20 million investment in Ellassay. The investment was funded by the Carlyle Asia Growth Partners Group, and led by Hong Kong-based partner and head of Greater China practice, Olivia Lee.

Watson, Farley & Williams LLP acted for Precious Shipping Public Co Ltd in relation to the extension of a credit facility of up to US$100 million arranged by DnB NOR for the financing of second-hand vessel acquisitions. The deal was led by Chris Lowe, partner in the international finance group and head of the Singapore office.

WongPartnership LLP acted as Singapore counsel to IEIL Japan Co Ltd and Arysta LifeScience in the mix of senior debt, senior mezzanine and junior mezzanine multi-jurisdictional financing in relation to the acquisition of Arysta LifeScience. Partner Alvin Chia led the transaction.

WongPartnership LLP acted as Singapore counsel to for SP Chemicals Holdings Ltd and SP Chemicals Ltd in the acquisition financing for the delisting of SP Chemicals Ltd via a voluntary conditional cash offer. The facility availed is also to be used for the acquisition of shares pursuant to the exercise of right of compulsory acquisition. Partner Christy Lim led the transaction.

Allen and Gledhill LLP has advised PTT International Company Limited (PTTI) and its wholly owned subsidiary Lints Limited (Lints) on a sale and purchase agreement for the acquisition of 60 percent of the issued shares in the capital of Straits Bulk & Industrial Pty Ltd, an Australian incorporated entity which holds 47.1 percent of the issued shares in the capital of Straits Asia Resources Limited (SAR). Following the acquisition, Lints is required to make a mandatory conditional cash offer for all of SAR’s shares excluding those already owned, controlled or agreed to be acquired by Lints. Partners Prawiro Widjaja and Song Su Min from Allen and Gledhill were involved.

Allens Arthur Robinson has advised Aristocrat Leisure Limited on its recent institutional placement, which raised A$200 million (approximately US$145.4 million). Equity raised will be used to strengthen the company’s balance sheet in light of the current economic environment. Sydney-based partner Victoria Poole led the team from Allens.

AZB & Partners has advised the International Financial Corporation (IFC), a member of the World Bank, in respect of its equity financing in Jain Irrigation Systems Limited (JISL) through subscription of equity shares. The firm also advised the IFC on reviewed authorisations, board resolutions and Indian regulatory matters. A public listed company, JISL is one of India’s leading agri-business companies and manufacturers of irrigation systems and plastic pipes and sheets. Gautum Sahu of AZB & Partners was involved.

Baker & McKenzie has advised UBS who acted as underwriter and lead manager of the A$80 million (approximately US$58.1 million) accelerated rights issue by STW Communications Group Ltd, Australia’s largest marketing communications group. The institutional component of the entitlement offer, valued at A$60 million (approximately US$43.6 million), was successfully completed on 23 April 2009. Partner Craig Andrade led the Baker & McKenzie legal team with partner Andrew Reilly providing specialist US legal advice.

Clayton Utz has advised a leading renewable energy business Hydro Tasmania in the A$132.2 million (approximately US$96.1 million) strategic sale of its Roaring 40s China wind farm portfolio to its joint venture partner China Light and Power (CLP). The deal, which reached financial close on 24 April, was led by corporate partner Nick Miller for Hydro Tasmania. Roaring 40s will continue to operate in Australia as a 50/50 joint venture between Hydro Tasmania and CLP.

Cleary Gottlieb Steen & Hamilton LLP represented the Republic of Korea (ROK) in its U.S. SEC-registered offering of US$1.5 billion 5.750 percent notes due 2014 and US$1.5 billion 7.125 percent notes due 2019. Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, Merrill Lynch and Samsung Securities were the joint lead managers and bookrunners, and BNP Paribas, Calyon, Morgan Stanley, Nomura and The Royal Bank of Scotland plc were the co-managers for the transaction. The Cleary team was led by Hong Kong-based partner Jinduk Han. This offering was a takedown from the ROK’s US$7 billion debt shelf registration statement filed with the SEC in March 2009.

Cleary Gottlieb Steen & Hamilton LLP represented Barclays Capital, Citi, Credit Suisse, Goldman Sachs, HSBC, ING and Hana Daetoo Securities as joint lead managers in a Rule 144A and Reg S offering by Hana Bank of US$1 billion of 6.5 percent notes due 2012. The offering is guaranteed by the Republic of Korea under Hana Bank’s US$6 billion Global Medium Term Note Program. This was the first debt offering by a Korean bank following the introduction of Korean Government’s guarantee program in late 2008 to guarantee foreign currency-denominated debts incurred by Korean banks and their overseas branches. The Cleary team included Hong Kong-based partners Jinduk Han and Yong Lee.

Cleary Gottlieb Steen & Hamilton LLP represented SK Telecom, Korea’s largest provider of wireless telecommunications, wireless data and internet services, in its US$332.5 million Reg S offering of 1.75 percent convertible notes due 2014. The notes, listed on the Singapore Stock Exchange, are convertible into common shares or American depositary shares of SK Telecom (listed on the Korea Exchange and the New York Stock Exchange respectively). Hong Kong-based partner Jinduk Han led the Cleary team. Nomura, Barclays Capital, Citi and Credit Suisse were joint bookrunners.

DLA Phillips Fox has advised Fujitsu Australia Ltd on it’s A$48 million (approximately US$34.9 million) purchase of Supply Chain Consulting Pty Ltd, an SAP enterprise solutions and services firm. The transaction required due diligence across Australia, Thailand and the Philippines. The deal team was led by partner Mark Burger with DLA Philips Fox’s global alliance partner undertaking due diligence investigations through its Bangkok office.

Gilbert + Tobin has advised IFFCO Poultry Co Limited on its 19.9 percent acquisition of ordinary shares in Australian Agricultural Company. The transaction was led by partner Adam Laura.

Kim & Chang has advised POSCO on the issuing of US$700 million aggregate principal 8.75 percent notes, issued with a 5 year maturity. Citigroup Global Markets Limited, Deutsche Bank AG, London Branch, Goldman Sachs International, The Hongkong and Shanghai Banking Corporation Limited and Merrill Lynch International were joint lead managers to the transaction. Key partners from Kim & Chang involved were C.H. Ko and Jina Myung.

Kim & Chang have acted as local counsel to Nomura, Barclays Capital, Citi, Credit Suisse, HSBC and SK Securities, who were underwriters on the SK Telecom issuing of a Reg S offering of US$332.5 million convertible bonds. The bonds are convertible into treasury shares held by SK Telecom or ADSs of SK Telecom at the option of the investors. Key partners from Kim & Chang were Y.J. Ro and B.Y. Ahn.

Latham & Watkins LLP has represented Wall Street Institute (WSI), a leading global provider of English language instruction owned by an affiliate of private equity firm The Carlyle Group, in the $145 million cash sale of its Chinese business Wall Street English and related intellectual property, to Pearson plc. The transaction involved multinational parties, with the intellectual property aspects of the transaction including multiple jurisdictions. The team was led by partner Paul Sheridan in Washington, D.C. and partners William Woo and Kenneth Chan in Hong Kong.

Paul, Hastings, Janofsky & Walker has advised Manila North Tollways Corporation (MNTC) on various aspects of the Phase 2 expansion of the Manila North Expressway in the Philippines. The firm also acted as international counsel on the associated financing of approximately US$45 million which was provided by Philippine National Bank, and represented the MNTC on the conversion into Pesos of certain US dollar denominated financing provided by the Asian Development Bank to MNTC in connection with existing project financing. The Paul Hastings team was led by corporate partner Patricia Tan Openshaw.

WongPartnership LLP has acted as Singapore counsel to the lenders in relation to the CHF 850 million (US$750.7 million) facilities (the Facilities) granted by a syndicate of banks to certain Gate Gourmet entities. The Facilities financed the acquisition of the deSter Holding B.V. group and the refinancing of the incorporation of Singapore entity Gate Gourmet Singapore Pte Ltd. The joint lead arrangers and joint bookrunners to this transaction were Goldman Sachs Credit Partners L.P. and Deutsche Bank AG, London Branch. The transaction was led by partner Christy Lim.

Davis Polk & Wardwell has advised Citigroup Global Markets Inc as dealer/manager in relation to a cash tender offer by ProMOS Technologies Inc, a leading provider of memory solutions including high performance memory chips. Partner William F. Barron from Davis Polk was involved in advising Citigroup on the offer by ProMOS to purchase any and all of its outstanding US$350 million zero coupon convertible bonds due 2012.

Dechert LLP has advised Nanostart AG, the world’s leading nanotechnology investment company, in respect of the launch of its first Venture Capital Fund in Singapore together with Singapore’s National Research Foundation (NRF). The fund has a first closing volume of SGD$20 million (approx US$13.5m) after the first closing was held in Singapore on 21 April 2009. The fund, Nanostart AG’s first privately raised fund, has a typical venture capital structure and Nanostart intends to invest shortly, most likely in start-up companies which can demonstrate promising technologies. Dechert’s Berthold Hummel led the advisory team to Nanostart AG in association with Allen & Gledhill’s Singapore office. Sara Liew of the Central Chambers Law Corporation in Singapore led the advisory team to the NRF.

Gordon Ng & Co, in association with Hogan & Hartson LLP, have advised Citigroup Global Markets Asia Limited (as the sole sponsor and global coordinator) and Macquarie Capital Securities Limited (as the joint lead bookrunner and joint lead manager) in the HK$1.2 billion (approx US$154m) initial public offering (IPO) of Real Gold Mining Limited (RGM). Reuters has reported that Real Gold Mining IPO has sent “a positive note to the battered Hong Kong IPO market.” Listed on the Hong Kong stock exchange, RGM is one of China’s leading gold mining companies. Partners Gordon Ng and Man Chiu Lee led the team from Gordon Ng & Co and Hogan & Hartson.

Kim & Chang has acted as counsel to Korea’s Ministry of Strategy and Finance in respect of Hana Bank’s issuance of senior fixed rate three year notes in the principal amount of US$1 billion. The notes are guaranteed by the Republic of Korea (ROK) under the ROK Guarantee Program which, created in October 2008 as a result of the financial crisis, provides guarantees on unsubordinated foreign currency denominated debts of Korean banks. The team from Kim & Chang was led by partner S.J. Ahn.

Latham & Watkins has acted as US counsel to Satyam Computer Services (Satyam) in the sale of a 31 percent shareholding to Venturbay Consultants Private Limited, a subsidiary of Tech Mahindra Limited. The US$351 million sale was conducted by way of a competitive bidding process. Tech Mahindra must now commit to offer to purchase an additional minimum 20 percent of Satyam’s share capital through an open public offer to Satyam’s current shareholders, pursuant to SEBI rules. The Latham team included Singapore corporate partners Michael Sturrock and Rajiv Gupta and US partners John Huber, Anthony Richmond and Larry West. The team also received advice on antitrust matters from partners in New York and Brussels.

Paul, Hastings, Janofsky & Walker has advised Deutsche Bank AG, Hong Kong, who acted as the financial adviser of Franshion Properties (China) Limited (Franshion) in a rights issue to raise approximately US$348.3 million. Franshion, a subsidiary of Sinochem Corporation, is planning to use the proceeds to fund the acquisition of the Jin Mao Group, which owns the landmark Jinmao Tower office building in Shanghai. Partner Raymond Li of Paul Hastings’ Hong Kong practice led the team.

Run Ming Law Office has advised Bank of Communications Finance Leasing Co Ltd (a wholly-owned subsidiary of Bank of Communications) on the sale and leaseback of two Airbus A340 aircraft with China Eastern Airlines Corporation in a deal valued at RMB590 million (approx US$87m). Senior Partner Liu Yi led the team in advising on the transaction which aims to improve China Eastern’s cash flow situation.

White & Case LLP has advised PT Bakrie and Brothers TbK (Bakrie), Green Pipe International Limited and PT Cakrawala Baru on the cross-border sale of 77.45 percent of the issued share capital of PT Seamless Pipe Indonesia Jaya (SPIJ) to Tenaris Global Services Far East Pte Ltd (Tenaris). The deal, worth US$72.5 million, was closed on April 29, 2009. SPIJ and Tenaris have entertained a commercial alliance for over a decade now. White & Case Singapore-based partner William Kirschner led the team advising on the transaction.

WongPartnership LLP has acted for Ascendas Property Fund Trustee Pte Ltd (as trustee-manager) in the establishment of Ascendas India Trust’s S$500 million (approx US$339.9m) multicurrency medium term note programme. Partner Colin Ong led the transaction.

Allen & Overy has also advised joint bookrunners and joint lead managers Deutsche Bank, HSBC and J.P. Morgan on a Rule 144A/Reg S $1.5 billion bond offering for Hutchison Whampoa. Closed on 9 April 2009, the deal constitutes the largest global bond issued by an Asian corporate in 2009 to date. Partners David Johnson and Mark Roppel formed part of the firm’s advisory team.

Allens Arthur Robinson has had a busy month. The firm has advised The GPT Group (GPT) on a capital raising to raise a minimum of A$1.2 billion (approx US$921m). The transaction comprises a non-renounceable 1 for 1 pro-rata entitlement offer to eligible security holders and a A$120 million (approx US$92m) institutional placement. Both the institutional component of the entitlement offer and placement are fully underwritten, with the entitlement offer including a non-underwritten retail component of approximately A$470 million (approx US$360.7m). Working closely with UBS, the Allens team was led by Sydney-based partner Anna Lenahan and also involved partner Vijay Cugati.

Allens Arthur Robinson has also provided Australian legal advice to Iluka Resources Limited (Iluka) on the structuring and execution of an institutional placement raising of A$114 million (approx US$87.5m). The transaction involved the placement of 38 million shares at A$3 (approx US$2.30) each, representing a 9 per cent discount to the closing share price on 30 April 2009. Iluka produces and processes mineral sands and is the largest producer of zircon in the world. The Allens team was led by partner Tom Story and supported by partner Alex Ding. Baker & McKenzie acted as Iluka’s international legal counsel.

In addition, Allens Arthur Robinson has advised Alumina, a global alumina business, on the legal and taxation aspects of an entitlement offer that is expected to raise up to A$1.022 billion (approx US$781.7m). The institutional entitlement offer has been completed and will raise A$737 million (approx US$564.7m), whilst the retail entitlement could raise a further A$284.9 million (approx $US217.9m) and will be conduced between 6-25 May 2009. Partners Alex Ding, Greg Bosmans and Toby Knight formed part of the Allens team.

Finally, Allens Arthur Robinson has advised Credit Suisse, Goldman Sachs JBWere and Macquarie as joint lead managers in global financial service provider Macquarie’s A$540 million (approx US$413.2m) placement, undertaken on 1 May 2009. Allens’ Melbourne-based partner Robert Pick was involved in the transaction. Skadden, Arps, Slate, Meagher & Flom provided US legal advice to the joint lead managers, and Mallesons Stephen Jaques acted for Macquarie Group Limited

Baker & McKenzie has acted for Pangaea Resources on the sale of a Queensland coal seam gas tenement, ATP 788P, to Origin Energy. Under the terms of the A$660 million (approx US$506.3m) agreement, Origin will acquire 100 percent interest in ATP 788P and will also establish a joint venture with Pangaea Resources for exploration of the “Deeps” area of the tenement. Sydney-based partner David Ryan led the transaction team.

Baker & McKenzie has also advised Origin Energy on its acquisition of Wind Power Pty Ltd, one of Australia’s leading wind farm development companies, for an undisclosed sum. The deal significantly increases Origin’s wind development portfolio. Climate Change and Environmental Markets partner Andrew Beatty of Baker’s Sydney office was involved in the transaction.

Davis Polk & Wardwell has advised BearingPoint Inc in respect of the sale of its Japanese consulting practice to the PricewaterhouseCoopers firm, PwC Advisory Co Ltd (PwC). Pursuant to the agreement, PwC purchased all issued and outstanding shares of BearingPoint’s wholly-owned subsidiary. The team from Davis Polk included partners Theodore A. Paradise (Tokyo) and John A. Bick (New York), with New York-based partner Frank J. Azzopardi also providing intellectual property advice.

Herbert Smith LLP has advised Goldman Sachs as the sole sponsor in respect of the listing (by way of introduction) of the shares of Hutchison Telecommunications Hong Kong Holdings Limited (HTHKH) on the Main Board of the Hong Kong Stock Exchange. HTHKH was previously a wholly-owned subsidiary of Hutchison Telecommunications International Limited (HTIL), a leading global provider of telecommunications services. The introduction did not involve an initial public offering of HTHKH shares but rather a spin-off by way of a distribution in specie of the entire share capital of HTHKH to qualifying shareholders of HTIL. Advising on the Hong Kong and US law aspects of the transaction, Herbert Smith’s team was led by partners John Moore and Matt Emsley. Linklaters, Freshfields and Cleary Gottlieb advised other parties to the transaction.

JSM has acted for Li & Fung Limited (Stock Code : 494) in its fund raising of HK $2.682 billion (approx US$346m). The fund raising exercise was announced on 5 May 2009 and completed on 12 May 2009, and involved placing agents being Citigroup Global Markets Asia Limited and Goldman Sachs (Asia) LLC. The placing and top-up transaction involved the placing of 120, 290,000 Li & Fung shares. Two corporate partners from JSM, Derek Tsang and Jeckle Chiu, handled the transaction.

Kim & Chang has advised C&M, one of the biggest multiple system operators, in connection with the merger of its wholly-owned company Dramax Co Ltd with CU Media Inc. iHQ Inc, the entertainment business arm of the biggest mobile carrier SK Telecom, had owned 52 percent of CU Media previously. Following the deal, C&M now owns the majority controlling shares of the merged entity which has been renamed CU Media. The firm also advised on the relevant regulatory approval process Key lawyers involved in the transaction were D.S. Choi and K.M. Koh.

Latham & Watkins has represented Home Inns & Hotels Management Inc (Home Inns) in the sale of US$50 million is equity (7,514,503 shares) to Ctrip.com International Ltd (Ctrip.com). Subject to customary closing conditions, the deal is scheduled to close on 21 May 2009 after the definitive purchase agreement was signed on 7 May 2009. As a result of the deal, Ctrip.com has become Home Inns largest single shareholder, increasing its equity interest in the leading economy hotel chain from approximately 9.64% to approximately 18.25%. Corporate partner David Zhang was involved in the transaction.

Morrison & Foerster has represented NetEase.com (NASDAQ: NTES), a leading China-based internet technology company, in a licensing deal with Blizzard Entertainment® (Blizzard) to operate Blizzard’s multiplayer online role-playing game World of Warcraft® in China. Under the deal, NetEase.com will operate the game for three years once Blizzard’s current arrangement with a rival online game operator expires. Hong Kong-based partner Paul Boltz led the transaction, with assistance from partners Gordon Milner and Xiaohu Ma.

Richards Butler in Association with Reed Smith has acted for CITIC Group (CITIC) in the US$1.7 billion sale to China CITIC Bank of a 70% interest in CITIC International Financial Holdings Limited (CIFH), the holding company of CITIC Ka Wah Bank in Hong Kong. Following the share purchase agreement between CITIC, China CITIC Bank and Gloryshare Investments on 8 May 2009, China CITIC Bank has agreed to acquire a 70.32% interest in CIFH for a cash consideration of approximately HK$13.5 billion (approx US$1.75b) from Gloryshare Investments. CIFH was previously a company listed on the Main Board of the Hong Kong Stock Exchange. Partner Denise Jong led the deal.

WongPartnership LLP has acted for joint arrangers DBS Bank Ltd and Oversea-Chinese Banking Corporation Limited in the establishment of a S$500 million (approx US$341.8m) multicurrency medium term note programme. The programme is guaranteed by Frasers Centrepoint Trust. The transaction was led by partners Hui Choon Yuen and Winston Wong.

Allen & Gledhill LLP has advised FCT MTN Pte Ltd (FCT) in respect of its S$500 million (approx US$342.7m) Multicurrency Medium Term Note Programme. FCT is a wholly owned subsidiary of HSBC Institutional Trust Services (Singapore) Limited (HSBC), which is trustee of the Frasers Centrepoint Trust. In its capacity as trustee, HSBC will unconditionally and irrevocably guarantee the notes issued under the programme. Partner Au Huey Ling was involved in advising FCT. The firm also advised HSBC in relation to this matter, through partner Jerry Koh.

Allen & Gledhill LLP has also advised Merrill Lynch Far East Limited as placement agent in respect of KCC Corporation’s issuance of US$58.3 million Zero Coupon Exchangeable Bonds due 2014. The bonds are exchangeable into shares of common stock of Hyundai Mobis which carry a par value of Won 5,000 (approx US$4 dollars) per share and are listed on the Singapore Exchange Securities Trading Limited. Partner Tan Tze Gay advised on Singapore law in respect of the issuance.

Finally, Allen & Gledhill LLP has advised Tang UnityThree LLP in relation to its proposal to seek a voluntary delisting of C K Tang Ltd (CKT) from the Official List of the Singapore Exchange Securities Trading Limited. The terms of the proposal stipulate that Oversea-Chinese Banking Corporation Limited, for and on behalf of Tang UnityThree, will make an exit offer to acquire all the shares in CKT for S$0.83 (approx US$0.60 cents) per share. Partners Andrew M. Lim, Ronnie Quek and Christopher Ong were involved.

Allen & Overy LLP has advised the lenders (development banks FMO (Nederlandse Financierings–Maatschappij voor Ontwikkelingslanden NV) and DEG (Deutsche Investitions-und Entwicklungsgesellschaft mbH), and international bank ING Bank NV) in respect of a USD$60 million limited recourse project financing for PT Jakarta Tank Terminal. The project financing will be utilised for the construction of the first phase of an independent petroleum storage terminal at the Tanjung Priok port in Jakarta, Indonesia. The independent oil storage market in Indonesia is in the process of liberalisation and the terminal is expected to be a significant step forward in the market’s development. The Allen & Overy team was led by Andrew Roche with assistance from consultant Andrew Digges.

Allens Arthur Robinson has acted for Billabong International Limited on a capital raising of up to A$290 million (approx US$223.2m). Launched at an offer price of A$7.50 (approx US$5.70 dollars) per share, the 2-for-11 accelerated pro-rata, non-renounceable entitlement offer has a fully underwritten institutional component to raise A$200 million (approx US$154.6m), and a retail component that may raise up to an additional A$90 million (approx US$69.6m) subject to take up. Partners Alex Ding and Vijay Cugati led the Allens’ team.

Baker & McKenzie has advised ITOCHU Corporation on its purchase and subscription of 20 percent of shares in Ting Hsin (Cayman Islands) Holding Corp (Ting Hsin), in a transaction valued at approximated US$710 million. Ting Hsin is the holding company for the Ting Hsin International Group, which is one of the largest food manufacturing and distribution businesses in China and Taiwan, and the investment represents a strong foothold for ITOCHU in the Chinese and Taiwanese processed food markets. Tokyo-based partner Anne Hung and Beijing-based partner Xiangyang Ge led the Baker’s team.

Clifford Chance has advised IFC, a member of the World Bank Group which fosters sustainable economic growth in developing countries, on its acquisition of a 9.23 percent equity stake in Ko Yo Ecological Agrotech (Group) Limited (KY), a leading producer and distributor of chemical fertilizers in China. The terms of the acquisition afford IFC the right to subscribe for an additional 6.63 percent interest (making a total equity investment of US$20 million), and allow for a secured US$20 million loan from IFC to KY subsidiary Dazhu Koyo Chemical Industry, to finance the construction and operation of a major ammonia and urea plant in Sichuan province. The Clifford Chance team was led by Beijing counsel Terence Foo, with Hong Kong-based partner Andrew Whan advising on the equity investment and Beijing-based partner Bruce Schulberg advising on the debt financing, assisted by counsel Patrick Phua.

Clifford Chance has also advised Kookmin Bank, Korea’s largest commercial bank and private sector mortgage lender, on Asia’s first covered bond offering. Issued under Rule 144A/Regulation S, the five-year senior guaranteed bonds are due 2010. The issuance is worth US$1 billion and the bonds have attracted AA and Aa2 ratings from Standard & Poor’s and Moody’s respectively. The firm’s team was led by Tokyo-based partner Peter Kilner and Hong Kong-based partner Alex Lloyd, with Tokyo counsel Leng-Fong Lai advising on the swap aspects of the transaction.

In addition, Clifford Chance has advised the dealer managers and consent solicitation agents JP Morgan Securities Ltd and Macquarie Capital Securities (Singapore) Pte Limited, on Suzlon Energy Limited’s (Suzlon) US$500 million liability management transaction. The transaction involved a combination of a consent solicitation, and cash tender and exchange offers, to the holders of two series of Suzlon’s convertible bonds due 2012. Hong Kong-based partners Connie Heng and Alex Lloyd and Rahul Guptan from Singapore advised the consent solicitation agents and dealer managers. Counsel Anthony Oakes led another team from the firm in advising Deutsche Trustee Company Limited as trustee for the holders of the existing convertible bonds and the new convertible bonds issued in exchange.

Harry Elias Partnership has acted for individual vendors in the sale of Green Cross Pharma (GCP) to Ascent Pharmahealth Limited, a company listed on the Australian Securities Exchange. GCP is the largest supplier of generic pharmaceuticals to the Singapore Government, and the sale was completed for an undisclosed sum. Corporate finance partner Claudia Teo was involved in the transaction.

Herbert Smith has advised China National Offshore Oil Corporation (CNOOC), one of the largest state owned oil giants in China, and its affiliates on a project development agreement with BG Group (BG), a leading energy company specialised in natural gas. The agreement concerns the sale by BG of liquefied natural gas (LNG) from an investment in BG’s Queensland Curtis coal bed methane LNG Project in Australia (QCLNG). Pursuant to the agreement, CNOOC will purchase, amongst other things, 3.6 million tonnes of LNG per annum for 20 years from the start-up of QCLNG. BG Group and CNOOC will also jointly participate in a consortium formed to construct two LNG ships in China. The companies will complete negotiations and execute fully-termed transaction agreements prior to BG Group’s final investment decision to sanction the QCLNG project, which is anticipated in 2010. Anna Howell, head of the firm’s Asia energy group, led the Herbert Smith team. Fulbright & Jaworski advised BG Group.

Kim & Chang has advised Aleph Ltd in respect of a joint venture with Uljin county to produce traditional style Kimchi products in Korea. The products will mainly be exported to Bikridonkey, a famous restaurant franchise in Japan and one of Aleph Ltd’s main businesses. H.S. Choi and S.B. Lee from Kim & Chang advised on the joint venture.

Kim & Chang has also advised Standard Chartered Bank (Hong Kong) Limited as lead arrangers in respect of LG Telecom Co Ltd’s issuance of Floating Rate Notes in an aggregate principal amount of US$120 million. The key partner involved was M.J. Chung.

WongPartnership LLP has acted as Singapore counsel to EUN Partners V, LLC (EUN) in respect of its subscription of shares in Global Voice Group Limited. The subscription was undertaken through a placement with an aggregate subscription price of approximately S$6.3 million (approx US$4.3m) and participation in a rights issue which raised gross proceeds of approximately S$86.5 million (approx US$59.3m). EUN is a fund managed by Columbia Capital V, LLC. The transaction was led by partners Tan Kay Kheng, Andrew Ang and Lim Hon Yi.