February 26, 2024
AZB & Partners has advised Lone Star Global Acquisitions on Rajiv Rattan’s Rs6.1 billion (US$73.5m) acquisition of equity stake in RattanIndia Finance from Lone Star Global Acquisitions. Partners Ajay Bahl, Anil Kasturi, Vijayendra Pratap Singh, Abhinav Ashwin, Abhimanyu Chopra, Anisha Shridhar, Aditya Jalan and Dhiraj Kumar Totala led the firm’s team in the transaction, which was completed on February 1, 2024. AZB & Partners has also advised TPG Capital-TPG SG Magazine (TPG Asia VIII) and Phoenix Bear Investments (CalPers) on their acquisition of equity stake in Manipal Health Enterprises from Kabru Investments (Temasek). Partners Vaidhyanadhan Iyer, Bhuvana Veeraragavan and Bharat Budholia led the firm’s team in the transaction which was completed on January 8, 2024. Moreover, AZB & Partners is advising Nordic Capital on the acquisition by its portfolio entity, Sepia Holdco, of Zafin Labs Americas and its Indian subsidiary, Zafin Software Centre of Excellence, from multiple sellers, including Al Karim Somji and 1464086 BC. Partners Ashwath Rau and John Raghav are leading the firm’s team in the transaction, which was signed on February 8, 2024 and is yet to be completed. Baker McKenzie has advised Weave Living, Asia Pacific’s preeminent living sector specialist, on its joint venture with a fund managed by BlackRock, the world’s largest asset manager, to acquire Citadines Mount Sophia, a serviced apartment residence at 8 Wilkie Road in Singapore. The newly acquired property, which marks Weave’s second in Singapore and 22nd location in Asia Pacific, will undergo an extensive year-long renovation, and will reopen under the company’s contemporary serviced accommodation brand, Weave Suites, in early 2025. The JV partners anticipate a significant increase in yield and eventual capital value of the property through Weave Living’s active operations and asset enhancement capabilities. Partner Jason Ng led... February 26, 2024
AZB & Partners is advising Bharti Hexacom and Telecommunications Consultants India on the IPO, via an offer for sale, of up to 100 million equity shares by Telecommunications Consultants India. The draft red herring prospectus was filed with the SEBI on January 19, 2024. Partners Varoon Chandra and Agnik Bhattacharyya are leading the firm’s team in the transaction, which is yet to be completed. AZB & Partners is also advising Internet Fund V, a fund managed by Tiger Global Management, on the Rs4.14 billion (US$50m) acquisition by the Oaks Group, consisting of Oaks Consumer Fund-I, Oaks Asset Management and V’ocean Investments, and Tanjung Buai Ventures (Khazanah) of more than 10 percent equity stake in WOW Momo Foods. Partners Ashwath Rau, Srinath Dasari and Nanditha Gopal are leading the firm’s team in the transaction, which was signed on January 12, 2024 and is yet to be completed. Moreover, AZB & Partners has advised Genesys Cloud Services Holdings III on its acquisition of Radarr Technologies, including Radarr Technologies India. Partners Darshika Kothari and Vasudha Asher led the firm’s team in the transaction, which was signed on January 21, 2024 and completed on January 22, 2024. Baker McKenzie Wong & Leow, the Singapore member firm of Baker McKenzie, has represented TA Associates, a leading global private equity firm, on the sale of InCorp Global. Headquartered in Singapore, InCorp is a leading provider of corporate solutions and business advisory in Asia Pacific with operating presence across Singapore, Indonesia, Malaysia, Vietnam, the Philippines, Australia, India and Hong Kong. Singapore M&A principals Theodore Heng and Andrew Martin, supported by Baker McKenzie’s multidisciplinary experts across Australia,... February 12, 2024
AZB & Partners has advised Nuvama Wealth Management (formerly known as Edelweiss Securities) and DAM Capital Advisors, as the book-running lead managers, on the qualified institutions placement of Sterling and Wilson Renewable Energy’s equity shares with face value of Rs1 (US$0.012) each for Rs15 billion (US$181m). Partners Varoon Chandra and Lionel D’Almeida led the firm’s team in the transaction, which was completed on December 14, 2023. Allen & Gledhill has acted as transaction counsel to DBS Bank, United Overseas Bank, Oversea-Chinese Banking Corporation and Sumitomo Mitsui Banking Corporation Singapore Branch on the S$970 million (US$721m) term and revolving loan facilities to Jewel Changi Airport Trustee, the trustee-manager of Jewel Changi Airport Trust. The facilities will be used to refinance the development of Jewel Changi Airport. Partner Lim Wei Ting led the firm’s team in the transaction. Allen & Gledhill has also advised DCW and DCKC on the S$535 million (US$397m) green loan facilities granted by DBS Bank, Oversea-Chinese Banking Corporation, United Overseas Bank and Standard Chartered Bank (Singapore) to DCW and DCKC. The loan facilities were intended to refinance borrowings and support the operations of two of Singtel’s data centres, DC West and DC Kim Chuan. Partner Ong Kangxin led the firm’s team in the transaction, which is the first green loan obtained by Singtel. Moreover, Allen & Gledhill has acted as transaction counsel to Square Peg and Novo Holdings on jointly leading the US$40.8 million series C1 extension all-equity funding round in Doctor Anywhere, a Singapore-headquartered regional tech-led healthcare company. With a strong network of established healthcare providers and experienced doctors, the Doctor Anywhere mobile app empowers users to... February 12, 2024
Allen & Gledhill has acted as transaction counsel to the Housing and Development Board on the issue of S$800 million (US$596m) 2.977 percent green notes due 2029, under its S$32 billion (US$24b) multicurrency medium term note programme. The notes are an issuance of green bonds, proceeds of which are intended to be used to finance or refinance eligible green projects under the Project Category of Green Buildings, and for such other purposes, as set out in the Board’s Green Finance Framework. Partners Margaret Chin and Sunit Chhabra led the firm’s team in the transaction. Allen & Gledhill has also advised Oversea-Chinese Banking Corporation, as the sole lead manager and book-runner, on the issue of S$450 million (US$335.4m) 4.05 percent perpetual capital securities first callable in 2029, under its US$30 billion global medium term note programme. Partner Glenn David Foo led the firm’s team in the transaction. Moreover, Allen & Gledhill has advised STT GDC on the issue of S$450 million (US$335.4m) 5.7 percent sustainability-linked perpetual (SLP) securities, under its US$1.5 billion multicurrency debt issuance programme. Partners Margaret Chin, Delwin Singh and Sunit Chhabra led the firm’s team in the transaction, which is the first public benchmark SLP in Asia, the first Singapore dollar-denominated SLP, and the first public perpetual securities issued by a pure play data centre. Cyril Amarchand Mangaldas has advised JSW Paints on the Rs7.5 billion (US$90m) strategic investment by JSW Steel into JSW Paints. JSW Paints issued equity shares aggregating to 12.84 percent (11.85 percent on a fully diluted basis) of JSW Paints equity share capital to JSW Steel. Corporate partner Gautam Gandotra led the firm’s team in the transaction, which closed... January 25, 2024
Allen & Gledhill has acted as transaction counsel to Wavemaker Pacific 4 on leading a US$3.75 million seed round investment in Meatiply, a Singapore-based food research company that develops and produces meat alternatives through cell cultivation. Partner Nicholas Soh led the firm’s team in the transaction. Allen & Gledhill has also acted as transaction counsel to United Overseas Bank, Malayan Banking Singapore Branch, Hong Leong Finance and Bank of China Singapore Branch on the S$932 million (US$695m) conventional loan and Islamic Murabahah facilities to Chuan Park Development. The facilities were used to, among others, partially finance the acquisition via collective sale of the Chuan Park condominium, and the development and construction of a residential development on the site. Partners Aloysius Ng and Lyn Wee led the firm’s team in the transaction. Moreover, Allen & Gledhill has acted as transaction counsel to United Overseas Bank and Shanghai Pudong Development Bank Singapore Branch on the S$580 million (US$433m) term loan facilities to Kingsford Marina Development. The loan facilities were used to, among others, partially finance the acquisition of a 99-year leasehold site at Marina Gardens Lane, and the construction of a condominium development on the property. Partners Aloysius Ng and Lyn Wee also led the firm’s team in the transaction. AZB & Partners is advising BlackRock on its Rs1 trillion (US$12b) acquisition of Global Infrastructure Management (GIM). The acquisition includes Global Infrastructure Partners, GIM’s Indian wholly-owned indirect subsidiary, and the management of two India Infrastructure focused fund, namely Infrastructure Fund and Infrastructure Fund II, and companies held by the funds, which include Hanjer Biotech Energies, Ascend Telecom Infrastructure, ONGC Tripura Power,... Deals Archive
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