Deals – 22 January 2009

Freshfields advised as international legal counsel to the audit committee of Yingli Green Energy Holding Co Ltd for their acquisition of Cyber Power Group Ltd at a consideration of US$77.6 million. The firm also advised the audit committee on the related financing arrangements for the acquisition, including issuance of up to US$50 million senior secured convertible notes by the company to Trustbridge. The team was led by Hong Kong-based US partner Calvin Lai.

Gilbert + Tobin has advised a syndicate of banks in the acquisition by Hastings Funds Management of Cairns and Mackay airports in Queensland. Partner John Schembri led the transaction team, where the advised syndicate purchased Cairns Airport for A$530 million and Mackay Airport for A$208.8 million.

Hogan & Hartson has represented Anschutz Entertainment Group in its negotiations to set up a joint venture with the Shanghai Oriental Pearl Group to manage the Shanghai World Expo Performing Arts Center. The team was led by Steve Robinson, co-managing partner of the firm’s China practice.

Hogan & Hartson has represented ALAM Mauritius Holdings in the selling of its equity interest to China Everbright Industrial Investment Holding Ltd. The team was led by Jun Wei, co-managing partner of the firm’s China practice.

JSM acted for the Urban Renewal Authority of Hong Kong on the Sneaker Street Redevelopment project in Mongkok, Kowloon. The firm was appointed appointed to act in connection with the URA’s acquisition of 175 property interests from 14 old buildings. The firm was also involved in handling the tenancies, resumption of interests within the project area, surrender of acquired interests, and other matters leading up to the new land grant. Ellen Tsao was lead partner on the project, where completion is due in 2013.

Khaitan & Co has advised Batelco in their purchase of a 49 percent shareholding in S Tel, for a total consideration of US$220 million. The company partnered with Millennium Private Equicy, a Dubai Financial Services Authority regulated entity, to form a new entity, Batelco Millennium India Company, under which the shares were purchased.

Kim & Chang has advised IBM Korea in relation to their merger with Cognos Korea Co Ltd. 100 percent of the shares of the target were acquired in this transaction as part of the global integration of the Cognos Group into IBM.

White & Case represented TPV Technology Ltd in its acquisition of the IT display and public signage businesses of Royal Philips Electronics in more than 45 jurisdictions. Seung Chong, a partner based in the firm’s Hong Kong office, led the transaction team.

Sidley Austin advised Strong Petrochemical Holdings Ltd on its IPO, the first listing on the Stock Exchange of Hong Kong this year. Constance Choy was the lead partner on this transaction, which raised HK$250 million.

Slaughter and May acted for Koninklijke Philips Electronics NV on the sale of its monitors and public signage products business to TPV Technology Ltd under a share sale and purchase agreement. Partner Neil Hyman led the advisory team.

Slaughter and May advised Morgan Stanley & Co International plc and ABN Amro Bank NV Hong Kong Branch as placing agents in relation to the placing of 10,809,154,259 existing H shares in Bank of China Ltd held indirectly by the Royal Bank of Scotland Group plc. Benita Yu acted as lead partner in the placing, the proceeds of which were approximately US$2.4 billion.

Slaughter and May advised NYK Lines on its share swap with the Hutchison Port Holdings Group of a controlling interest in Ceres Terminals Europe in Amsterdam for a minority interest in European Container Terminals in Rotterdam. George Goulding was lead partner on the transaction.