|Allens Arthur Robinson acted for global steel manufacturer and distributor OneSteel Ltd in the company’s accelerated non-renounceable rights issue with institutional placement. The capital raising comprises an A$240 million fully underwritten institutional placement and a non-renounceable 2-for-5 pro-rata entitlement offer to all eligible shareholders to raise up to A$878 million in total. Partners Vijay Cugati, Tom Story and Andrew Finch led the team on this matter.
Orrick, Herrington & Sutcliffe LLP represented Antara Holdings (Asia) Ltd in the negotiation of an early stage investment by Preferred Freezer Services LLC. The project involves an environmentally-friendly cold storage facility in Ho Chi Minh City, which aims to have a zero-carbon footprint. The firm also represented Antara in connection with a US$14 million long term fixed rate loan provided to the company. The team was led by corporate partner David Halperin.
Orrick, Herrington & Sutcliffe LLP represented Gmarket Inc in eBay’s all cash public tender offer for up to 100 percent of Gmarket for US$1.2 billion. Subject to regulatory approvals, the transaction is expected to close in June 2009. The team included corporate partners Mark J Lee and David Cho in Hong Kong and M&A co-chair Richard Vernon Smith in San Francisco.
Orrick, Herrington & Sutcliffe LLP has advised Woori Investment & Securities in relation to the establishment and launch of two hedge funds, Woori Absolute Asia Multi-Strategy Fund and Woori Absolute Global Opportunities Fund, with initial capital of US$100 million. The advisory team was led by partners Sook Young Yeu in Hong Kong and Eugene Chang in Tokyo.
Paul, Hastings, Janofsky & Walker has advised Shimao Property Holdings in its HK$1.9 billion (approximately US$240 million) top-up placement. Morgan Stanley and JP Morgan were the joint book runners of the offering. Hong Kong partner Sammy Li led the advisory team.
Troutman Sanders has represented The Carlyle Group in its US$20 million investment in Ellassay. The investment was funded by the Carlyle Asia Growth Partners Group, and led by Hong Kong-based partner and head of Greater China practice, Olivia Lee.
Watson, Farley & Williams LLP acted for Precious Shipping Public Co Ltd in relation to the extension of a credit facility of up to US$100 million arranged by DnB NOR for the financing of second-hand vessel acquisitions. The deal was led by Chris Lowe, partner in the international finance group and head of the Singapore office.
WongPartnership LLP acted as Singapore counsel to IEIL Japan Co Ltd and Arysta LifeScience in the mix of senior debt, senior mezzanine and junior mezzanine multi-jurisdictional financing in relation to the acquisition of Arysta LifeScience. Partner Alvin Chia led the transaction.
WongPartnership LLP acted as Singapore counsel to for SP Chemicals Holdings Ltd and SP Chemicals Ltd in the acquisition financing for the delisting of SP Chemicals Ltd via a voluntary conditional cash offer. The facility availed is also to be used for the acquisition of shares pursuant to the exercise of right of compulsory acquisition. Partner Christy Lim led the transaction.