Deals – 17 April 2008

AZB has represented GS Logistics Holdings Ltd, Mauritius in its acquisition of a shareholding of 24.69 percent in TVS Logistics Ltd (TVS). TVS is engaged in the business of providing logistics and supply chain management services mainly to the auto industry. The total consideration for the deal was approximately Rs. 94,44,27,244 / US$23,610,681.

AZB has represented Sharda Worldwide Exports Private Ltd (Sharda), an Indian company engaged in the business of registering and trading in agrochemicals, dyes and dye intermediates, chemicals, V belts and conveyor belts, in relation to the private equity investment by HEP Mauritius Ltd. The firm was involved in drafting and negotiating the transaction document and other related documents, and also advised Sharda on various Indian law issues.

Baker & McKenzie.Wong & Leow has advised Babcock & Brown Investment Holdings (Singapore) Pte Ltd on its recent investment in the Indian telecommunications sector. Babcock & Brown Investment Holdings (Singapore) Pte Ltd is part of the Babcock & Brown group of companies, which is an international investment and specialised fund and asset management group with longstanding capabilities in the creation, syndication and management of asset and cash flow-based investments.

Drew & Napier LLC acted as counsel to the rights issue of warrants of OSIM International Ltd (Osim) in the renounceable non-underwritten rights issue of up to 136,605,039 warrants (Warrants) at an issue price of S$0.09 for each Warrant. Assuming full subscription of the Rights Issue of Warrants of 136,605,039 Warrants, the estimated net proceeds will be approximately S$12 million, after deducting estimated expenses of approximately S$0.3 million.

Milbank, Tweed, Hadley & McCloy LLP has represented ProtoStar Ltd (ProtoStar), in a US$245 million financing to enable it to launch and operate the ProtoStar II satellite. The new debt facility consisted of a US$200 million term loan with Credit Suisse serving as Sole Bookrunner and Co-Lead Arranger, and Jefferies & Co. acting as Co-Lead Arranger. The placement brought together a syndicate of lenders from Asia, Europe and the U.S.

Rajah & Tann LLP acted as legal advisers to Zaino as to Singapore Law in connection with the listing of Zaino, a PRC company incorporated in Bermuda in the business of designing, developing, manufacturing and selling backpacks and luggage and the net proceeds of the offering amount to approximately S$80.5 million. The IPO was made by way of an Offering in respect of 145,000,000 ordinary shares of Zaino at S$0.001 each by way of public offer and placement of 2,000,000 Offer Shares at S$0.60 and 143,000,000 Placement Shares at $0.60 respectively.

Sheppard Mullin has represented DM Label Group in its acquisition by Avery Dennison Corporation. DM Label Group has 11 manufacturing facilities in six countries, including China, Vietnam, Malaysia, Indonesia, Taiwan and the U.S.

WongPartnership LLP acted for Global A&T Electronics Ltd, a special purpose company formed by TPG Capital and Affinity Equity Partners, in the financing of the proposed acquisition of Singapore’s No. 2 provider of chip-testing services, United Test and Assembly Center Ltd, valued at US$1.5 billion, with JPMorgan Chase Bank, N.A. as the administrative agent and collateral agent.

WongPartnership LLP acted for the lenders Oversea-Chinese Banking Corporation Ltd and United Overseas Bank Ltd in the acquisition financing of a prime ‘white site’ at Marina View which was purchased by a Macquarie Global Property Advisors entity from the Urban Redevelopment Authority of Singapore for approximately US$1.46 billion.

WongPartnership LLP acted for the syndicate of banks in the real estate acquisition and development financing of up to US$0.91 billion to South Beach Consortium Pte. Ltd. to part-finance the purchase of the former NCO Club site at Beach Road, what is likely the last major historically iconic site in Singapore with four buildings gazetted as ‘Conservation Area’ under the Planning Act, on which the South Beach Project (a revolutionary New Eco-Quarter) will be developed.

Yuan Tai has represented Shenzhen-based asset manager China Southern Fund in the launch of China’s first overseas stock fund under the country’s Qualified Domestic Institutional Investor (QDII) scheme. Issued by the China Securities Regulatory Committee in June, China’s QDII scheme is part of Beijing’s efforts to encourage capital outflow. China Southern Fund was the first Chinese FMC to secure QDII approval and to launch QDII fund product.