Deals – 11 September 2008

Ashurst has advised the funders (Hong Kong Shanghai Banking Corp, Sumitomo Mitsui Banking Corp, The Bank of Tokyo Mitsubishi UFJ Ltd, Dexia Banque Internationale à Luxembourg SA, Singapore Branch and DZ BANK AG) on the project financing of the new ITE College West campus, the first project financing of a public-private partnership social infrastructure project in Singapore. The Ashurst team was led by Singapore managing partner, Matthew Bubb.

Clayton Utz has advised renewable energy business Hydro Tasmania on the acquisition of Momentum Energy Pty Ltd. The deal involves Hydro acquiring an initial stake in Momentum of 51 percent for A$17.1 million, with the remaining 49 percent to be acquired in 2010. The lead partner on the deal was Nick Miller. He was assisted by partner Faith Taylor.

Clifford Chance has advised Star Cruises on on its acquisition of a 50 percent (direct and indirect) stake in Travellers International Hotel Group. Under the terms of the US$335 million acquisition, Star Cruises will work with Travellers International to develop and operate hotel and casino complexes in the Philippines. Partner Cherry Chan led the Clifford Chance team in Hong Kong advising Star Cruises.

Clifford Chance advised French energy company EDF on its joint venture agreement with China Guangdong Nuclear Power Co to construct, operate and maintain two third-generation reactors in the city of Taishan. Hong Kong partners Geraint Hughes, head of energy and infrastructure, Peiji Gao, Carmen Kan and Huw Jenkins were lead counsel in the deal, along with Beijing partner Bruce Schulberg.

Drew & Napier LLC acted as counsel to Qualitas Medical Group Ltd on its IPO on the Catalist board of Singapore Exchange Securities Trading Ltd. The IPO comprised 1.1 million public offer shares and 20.9 million placement shares. Bijay Nawal, partner and director of the banking and corporate department, acted as lead counsel.

Drew & Napier LLC acted as counsel to United Overseas Bank Ltd Singapore in a major restatement exercise in respect of UOB Australia Ltd’s Multi-Currency Euro Certificates of Deposit Programme (ECD Programme). The restatement exercise involved the preparation of extension documentation to increase the ECD Programme limit from A$600 million to A$1.5 billion. The team was led by Petrus Huang, banking and corporate director of the firm.

FoxMandal Little acted as legal advisor to US based Vornado Realty Trust with respect to its recent 50:50 joint venture worth approximately US$500 million with Mukesh Ambani led Reliance Industries. The firm advised Vornado regarding the finalization of the joint venture agreement along with ancillary documentation with respect to the joint venture company. Partner Sudish Sharma led the transaction.

Gilbert + Tobin has advised leading global pharmaceutical company sanofi-aventis on its successful bid for the market leading consumer business of Symbion CP Holdings Pty Ltd in Australia. Partner John Williamson-Noble led the A$560 million transaction with partner Janine Ryan. sanofi-avantis completed the deal in 47 days – from their first contact with Symbion’s advisers to signing.

KhattarWong acted for Artivision Technologies Ltd in its IPO on the Catalist of the Singapore Exchange Securities Trading Ltd. Partner Lawrence Wong advised Artivision in this transaction.

Simmons & Simmons advised Cathay Pacific Airways on its case against the Privacy Commissioner and the Administrative Appeals Board regarding the company’s procedure of collecting certain medical information of cabin crew. The case was led by dispute resolution partner Gareth Hughes and employment partner Fiona Loughrey.

Mallesons Stephen Jaques acted for Hunan Valin Steel Tube & Wire Joint Stock Co Ltd in its investment in Australian iron ore explorer Golden West Resources Ltd. Hunan Valin will acquire an 11.4 percent stake in Golden West Resources. The partners involved included John Shi and David Olsson in Beijing, David Perks in Perth, and Louis Chiam in Melbourne.

Slaughter and May Hong Kong has advised China Resources Logic Ltd in relation to its conditional acquisition of China Resources Gas Ltd from its parent, China Resources (Holdings) Co Ltd, for a total consideration of approximately HK$3.8 billion (US$488 million). Partner Benita Yu led the transaction.