|AZB & Partners has advised Matrix Partners India Investment Holdings LLC (MPIIH) and Matrix Partners India Investments LLC (MPII) in respect of MPIIH’s subscription of compulsorily and fully convertible series A preference shares of Chetas Control Systems Private Ltd, and MPII’s purchase of series A equity shares of Chetas Control Systems Private Ltd held by one of the promoters. The deal was completed on 16 March 2011 and was valued at approximately US$13 million. Partner Abhijit Joshi led the transaction.
Ashurst has advised Fenner PLC in respect of the acquisition, via its wholly owned subsidiary, Fenner Singapore Pte Ltd, of the entire share capital of Multiseals Pte Ltd for a total consideration of S$14.425 million (US$11.67m). Multiseals is a privately owned company based in Singapore which manufactures and distributes seals to the oil and gas industry in the Asia-Pacific Region. Fenner is a global company engaged in the field of reinforced polymer engineering. Partner Susan Roy led the transaction whilst Selvam LLC, led by Krishna Ramachandra acted as Singapore law counsel to Fenner. TSMP Law Corporation, led by Jennifer Hsien Lin Chia, acted for Multiseals.
Baker & McKenzie has acted for Sinopharm Group Co Ltd (Sinopharm), China’s largest pharmaceutical products distributor, in respect of its new H share placement raising approximately HK$3.4 billion (US$437.4m). Sinopharm issued approximately 138 million shares. The net proceeds will be used for the expansion of Sinopharm’s pharmaceutical distribution and retail network, as well as for liquidity replenishment. CICC, UBS and Morgan Stanley acted as the placing agents. Partner Anthony Jacobsen led the transaction.
Harry Elias Partnership has acted as legal advisor in respect of the listing of Nam Cheong Ltd through a reverse takeover of Eagle Brand Holdings Ltd for a consideration of S$472 million (US$381.8m). Nam Cheong Ltd is a Malaysian-based international offshore marine group specialising in the building of offshore support vessels and operates one of the largest shipbuilding yards for offshore support vessels in Malaysia. The reverse takeover follows the successful divestment of the operating subsidiaries of Eagle Brand in 2010 in which the firm also advised. Partner Claudia Teo led the transaction.
Norton Rose (Asia) has advised a consortium of banks (BNP Paribas, Citibank Global Markets Singapore Pte Ltd, DBS Bank Ltd, The Hongkong and Shanghai Banking Corporation Ltd, Oversea-Chinese Banking Corporation Ltd and Sumitomo Mitsui Banking Corporation) in respect of a US$1.5 billion revolving credit facility for Wii Pte Ltd, a wholly owned subsidiary of Wilmar International Ltd. Wii Pte Ltd holds proprietary investments for the Wilmar Group, an Asian agribusiness company with operations in China, India, Indonesia and some 50 other countries. The firm’s advisory team was led by Yu-En Ong. Advising Wilmar as to Singapore law were Allen & Gledhill.
Khaitan & Co has advised Yes Bank Ltd in respect of providing rupee loan facility of approximately US$18 million to Integrated Coal Mining Ltd for developing and setting up a 9MW solar photovoltaic grid interactive plant at Kutch, Gujarat. Partner Amitabh Sharma led the transaction.
Khaitan & Co has also acted as the Indian legal advisors to Bank of India in respect of the preferential issue for approximately US$227 million. Bank of India is one the largest banks in India and is one of the 14 banks which were nationalised on 19 July 1969. Partner Nikhilesh Panchal led the transaction.
Rajah & Tann has advised The Ascott Holdings Ltd in respect of the disposal of its entire interest in Somerset (Wuhan) Investments Pte Ltd (SWI) to CapitaRetail China Trust. SWI indirectly holds the property known as Wuhan People’s Parade in Jianghan District, Wuhan, Hubei Province, PRC. The sale consideration, which is subject to completion adjustment, is approximately S$69.8 million (US$56.48m). The deal was announced on 6 May 2011 and is expected to be completed in the third quarter. Partners Chia Kim Huat and Danny Lim led the transaction. Allen and Gledhill acted for CapitaRetail China Trust.
Rajah & Tann has also advised Zhong Jun Resources (S) Pte Ltd in respect of its S$17.1 million (US$13.8m) acquisition of a wholly-owned BVI subsidiary of FirstLink Investments Corporation Ltd, which owned a 27.82 per cent stake in Qinghai Province Salt Industry Ltd. The sale and purchase agreement was entered into on 6 April 2011 and completion is expected to take place in June or July 2011. Chia Kim Huat and Danny Lim also led the transaction. KhattarWong acted for Firstlink.
Shook Lin & Bok’s Singapore office has acted for HSBC Institutional Trust Services (Singapore) Ltd, the trustee of Ascendas Real Estate Investment Trust (A-REIT), in respect of the acquisition by A-REIT from Ascendas (Tuas) Pte Ltd of biomedical research hub Neuros & Immunos at Biopolis for S$125.6 million (US$101.6m). Partner Nicholas Chong led the transaction.
Shook Lin & Bok’s Singapore Office has also acted for DBS Trustee Ltd, the trustee of Singapore-focused REIT Mapletree Commercial Trust (MCT), in respect of MCT’s IPO which raised gross proceeds of approximately S$893 million (US$722.2m). The IPO is the second largest listing in Singapore in 2011. Partner Tan Woon Hum led the transaction.
Vinson & Elkins has advised China Petroleum & Chemical Corporation (Sinopec) and its affiliate Unipec Asia Co Ltd in respect of the negotiation of a 20 year LNG sale and purchase agreement for an annual volume of 4.3 million tonnes of LNG from Australia Pacific LNG Pty Ltd. The deal is reportedly the largest LNG supply agreement in Australian history by annual volume. Partner Rob Patterson led the transaction.
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