Deals – 1 September 2011

Allen & Gledhill advised a syndicate of lenders led by Oversea-Chinese Banking Corporation Limited in respect of term loan facilities and a bank guarantee facility to Capitol Hotel Management Pte. Ltd. (as trustee-manager of Capitol Hotel Trust, “CHM”), Capitol Retail Management Pte. Ltd. (as trustee-manager of Capitol Retail Trust, (“CRM”) and Capitol Residential Development Pte. Ltd. (“CRD”). The proceeds from the facilities were used for refinancing a bridging loan taken out by the Capitol Group (comprising CHM, CRM and CRD) for the acquisition of The Capitol site and will be used for financing the development comprising hotel, retail and residential properties on the site. Daselin Ang led the transaction.

Allen & Overy is advising tantalum concentrate producer Global Advanced Metals (GAM) in respect of its US$400 million acquisition of Cabot Corp’s Supermetals business. The agreement, announced on 25 August 2011, is subject to regulatory approval and is expected to be completed by the end of 2011. The acquisition of Cabot Supermetal’s tantalum plants in Pennsylvania and Japan will bolster GAM’s existing Western Australian operations and will transform it into a vertically integrated tantalum mining and manufacturing company. Partner Peter Wilkes is leading the transaction.

Allens Arthur Robinson has advised sole lead manager CBA Equities in respect of the IPO and listing on the ASX of Bega Cheese. The Bega Cheese group, operating through Bega Cheese Ltd and its controlling interest in Tatura Milk Industries, manufactures and processes a range of dairy products. Through the IPO, Bega Cheese issued 18.35 million shares to raise A$35 million (US$37.5m). The company commenced trading on 19 August 2011 under the ticker ‘BGA’ and had a market capitalisation of approximately A$254 million (US$272m) at listing. Partner Vijay Cugati led the transaction.

AZB & Partners acted on behalf of the First Carlyle Growth IX in its investment of funds into Value and Budget Housing Corporation Private Limited (“VBHC.”) The total consideration in respect of the investment was in the region of US$26 million. Srinath Dasari, who led the transaction, was responsible for conducting due diligence, advising on the transaction and structuring and negotiating the transaction documents. The transaction was completed on 5 August 2011.

Baker & McKenzie has advised RH International (Singapore) Corporation Pte Ltd (RH International) in respect of its issuance of Japanese yen senior unsecured guaranteed bonds under Regulation S of the US Securities Act of 1933, in an aggregate principal amount of JPY15 billion (US$195.6m). The bonds, due 2026, will be unconditionally and irrevocably guaranteed by Ratchaburi Electricity Generating Holding Public Company Ltd, parent company of RH International. The Royal Bank of Scotland plc Singapore Branch, was the lead arranger. Partners Viroj Piyawattanametha, Yeo Jih-Shian, Chris Hogan, Andrew Martin, Edmund Leow and Ken Takahashi led the transaction.

Clayton Utz has advised coal explorer Tigers Realm Coal (TRC) as issuer in respect of its A$37.5 million (US$40.13m) IPO and listing on the ASX. TRC, which is part of the Tigers Realm Minerals Australian based resources group, is focused on developing two coking coal projects, the Amaam coking coal project in Far Eastern Russia and the Landazuri coking coal project in Colombia, South America. It listed with a market capitalisation of approximately A$182 million (US$195m). Partner Charles Rosedale led the transaction.

Fangda Partners represented Cargotec Corporation in its joint venture project with Jiangsu Rainbow Heavy Industries Co., Ltd. The proposed total investment of the JV is Euro 182 million. The firm’s team was led by corporate partner Kenneth Lu.

Fangda Partners acted for PwC, as its PRC counsel, in its acquisition of PRTM, The acquisition of PRTM brings over 700 experienced consultants to PwC’s global Advisory practice, including 124 principals. The firm’s team was led by corporate partner George Xu.

Khaitan & Co has advised global financial service provider HSBC Ltd in respect of the US$30 million external commercial borrowing facility provided to Ranbaxy Laboratories Ltd for its capital expenditure requirements. Partner Devidas Banerji advised the client on the transaction.

Khaitan & Co has advised independent mobile and network company InMobi Technologies Pvt Ltd (InMobi) in respect of the acquisition of Chipin Inc pursuant to a reverse triangular merger with swap of Chipin Inc shares with shares issued by InMobi India with transaction valued at US$8.5 million. Partners Rajiv Khaitan and Sharad Vaid advised the client on the transaction.

Shook Lin & Bok LLP advised KPMG Corporate Finance Pte Ltd, the independent financial adviser to Allgreen Properties Limited (Allgreen Properties), in the acquisition of Allgreen Properties by Brookvale Investments Pte Ltd for approximately S$2.54 billion. Partners David Chong and Michelle Phang led the transaction.

White & Case has represented Standard Chartered Bank (Hong Kong) Ltd and United Overseas Bank Ltd in respect of a US$70 million acquisition financing enabling Halogen Ltd to acquire all outstanding ordinary shares of Chemspec International Ltd, a China-based contract manufacturer of highly-engineered specialty chemicals. Halogen is a special purpose company jointly controlled by an affiliate of Primavera Capital Management Ltd and Dr. Yang Yang, the chairman of Chemspec. This acquisition of shares sees Chemspec taken private and its American Depository Shares no longer listed on the NYSE. Partner John Shum led the transaction. Walkers, led by partner Ashley Davies, provided Cayman and BVI advice to the lenders.

WongPartnership LLP acted for Lakeview Investments Pte. Ltd., a property investment and development company wholly-owned by YMC Holdings Ltd., in its S$81 million acquisition of Austral View, a freehold development located at Tanjong Rhu, in District 15 of Singapore, which is renowned for its sea views, and proximity to the airport and the city. Partner Cornelia Fong acted on the matter.

WongPartnership LLP acted for a Dubai-based building components company in respect of the divestment of all of its assets and land relating to its Abu Dhabi operations to an Abu Dhabi-based company. Partner Owyong Eu Gene acted on the matter.