Allen & Gledhill has advised DBS Group Holdings on the issue of US$750 million floating rate notes due 2020 under its US$30 billion global medium term note programme. Partners Glenn Foo, Catherine Neo and Sunit Chhabra led the transaction.
AZB & Partners has advised International Finance Corporation on the execution of a facility agreement for an external commercial borrowing to Granules India. Partner Gautam Saha led the transaction, which was valued at Rs3.2 billion (US$49.6m) and was completed on April 3, 2017.
AZB & Partners has advised Monjin Interviews on the acquisition by Powerfluence of certain equity shares of Monjin. Partner Chetan Nagendra led the transaction, which was completed on June 13, 2017.
Bird & Bird ATMD has acted for Singapore-listed media and property conglomerate Singapore Press Holdings on its equity joint venture with RecommN Technologies to provide an online services matching portal that connects customers with service providers. Malaysia-based RecommN Technologies, which was launched in 2014, has closed a seed round from Gobi Ventures and expanded its business operations to Indonesia and Thailand. Singapore partner Marcus Chow led the transaction.
Clove Legal has represented Mswipe Technologies, a mobile point-of-sale service provider, on the Series D fund raising round of US$31 million. UC RNT fund, a joint venture between Ratan Tata’s RNT Associates and the University of California, along with existing investors Matrix Partners India, Falcon Edge Capital and DSG Consumer Partners, participated in the round. Partner Amit Sirsikar led the transaction. UC RNT was advised by Indus Law, led by partners Srinivas Katta and Pallavi Kanakagiri, while Falcon Edge Capital was represented by Goodwin Proctor (Hong Kong), led by partner Yash Rana. Matrix Partners was advised by Rajaram Legal, led by partner Archana Rajaram, while DSG Consumer Partners was represented by Trilegal, led by Mumbai corporate partner Kunal Chandra.
Gibson, Dunn & Crutcher is representing the AGIC Capital-led consortium on the acquisition of The Ritedose, the pharmaceutical leader in blow-fill-seal (BFS) manufacturing, from Olympus Partners. Founded in 1995 in South Carolina, Ritedose is the US market leader in BFS manufacturing, a process in which plastic containers are blow-molded, filled with liquid product and sealed in one continuous operation under aseptic processing conditions. In addition, Ritedose also develops, manufactures and sells its own generic portfolio of respiratory pharmaceutical products. AGIC is the first European-Asian buyout investor focused on European and US mid-market companies in high growth industries. Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and for companies needing capital for expansion. Partners Fang Xue (Beijing) and Joseph Barbeau (Palo Alto/Beijing) are leading the transaction. Ritedose is represented by Kirkland & Ellis.
Herbert Smith Freehills has advised Korea Gas (KoGas) on its participation in the US$11 billion Coral Floating LNG project in Mozambique. KoGas has a 10 percent interest in the project, which is led by Eni and also involves China National Petroleum, GALP of Portugal and ENH of Mozambique. The project marks the first floating LNG liquefaction project to be project-financed globally, first floating LNG liquefaction project in Africa, first LNG project for Mozambique and first LNG development by Eni, as an operator. The project finance covers around 60 percent of the cost of the floating LNG facilities. The financing agreement has been subscribed by 15 major international banks and guaranteed by five export credit agencies. Discovered in May 2012, the Coral gas field contains approximately 450 billion cubic meters (16 TCF) of gas in place. It is scheduled to begin production in 2022 and will be the first significant gas development to be monetised offshore Mozambique. All of the LNG to be produced from the field has been contracted to BP under a take or pay LNG offtake contract spanning over 20 years. Partner Lewis McDonald, assisted by partners Martin Kavanagh (London) and Graeme Gamble (Perth), led the transaction.
Hogan Lovells has advised Kingdom Holding Company (KHC) on its acquisition of a seven percent stake in Careem, a Dubai- based, chauffeur-driven car booking service. KHC acquired its stake of Careem through a secondary share purchase, as well as participating in the latest primary round E-1 capital raise, amounting to a total transaction value of US$62 million. The transaction makes KHC one of the largest holders of preferred shares in Careem and will grant KHC a seat on Careem’s Board of Directors. Founded in 2012, Careem is active in more than 80 cities across the Middle East, North Africa, Turkey and Pakistan. KHC is one of the world’s foremost value investment firms. Based in Riyadh, Saudi Arabia, KHC is led by its founder and chairman, HRH Prince Alwaleed Bin Talal. Partners Mark Mazo (Washington DC / Paris) and Charles Fuller (Dubai) led the transaction.
Kelvin Chia Yangon is advising Myanmar Investments International (MIL) on its planned two new ventures into tourism and pharmaceuticals. London-listed MIL has already invested in Apollo Towers and microfinance operator Myanmar Finance International. The first of the latest new joint ventures is being set up with a well-established local tour operator and travel agency that will develop its business and invest in tourism related assets. The second new joint venture in pharmaceuticals is being set up with two partners. One is a retail group that runs more than 50 pharmaceutical, health and beauty outlets in Asia. The other is an industry veteran with experience in large retail operations in Asia.
Kelvin Chia Yangon has also advised Singapore based ride-hailing platform Grab on the launch of a beta trial of GrabTaxi service in Yangon beginning March 21, marking its first expansion to a new market in nearly three years. Grab also appears to have a headstart over its rival Uber in entering one of the few remaining untapped markets in the region. Grab also becomes the first overseas ride-hailing service to enter Myanmar, where it will be competing with a few local on-demand ride hailing services in Yangon.
Orrick has advised Nasdaq-listed JD.com, China’s largest retailer and e-commerce company, on its US$397 million investment in Farfetch. London-based luxury online retailer Farfetch is a European unicorn. The firm also advised JD.com on its strategic partnership with Farfetch, which leverages JD.com’s logistics, internet finance and technology capabilities and social media resources with Farfetch’s leadership in global luxury. Farfetch has well-established operations in China and is already the partner of choice for 200 luxury brands and more than 500 multi-brand retailers. JD.com will help drive further brand awareness, traffic and sales for Farfetch in the market. Shanghai corporate partner Jie Jeffrey Sun and London partners Chris Grew and Shawn Atkinson led the transaction.
Squire Patton Boggs has acted as US counsel to the State Bank of India on its Rule 144A US$2.3 billion qualified institutional placement. The State Bank of India is the country’s largest commercial bank. The transaction was managed by Deutsche Equities India, DSP Merrill Lynch, IIFL Holdings, JM Financial Institutional Securities, Kotak Mahindra Capital and SBI Capital Markets. US securities partner and co-head of India practice Biswajit Chatterjee led the transaction, which is the largest ever qualified institutional placement equity offering in India. Cyril Amarchand Mangaldas acted as Indian counsel. Allen & Overy and Shardul Amarchand Mangaldas acted as US and India counsel, respectively, for the book-running lead managers.
Weil is representing the Special Committee of the Board of Directors of Sinovac Biotech, a leading provider of biopharmaceutical products in China, on the approximately US$401.8 million going private acquisition by a consortium, comprising Sinovac’s chairman, president and CEO Weidong Yin, SAIF Partners IV, C-Bridge Healthcare Fund II, Advantech Capital, Vivo Capital Fund VIII and Vivo Capital Surplus Fund VIII. Asia corporate partner Tim Gardner, supported by US partner Paul Wessel, led the transaction.