|Allen & Overy has advised AEGON International N.V. (AEGON) on its Sino-Foreign fund management joint venture with Industrial Securities. AEGON has secured a 49 percent stake in Industrial Fund Management Company (IFMC) while Industrial Securities will hold 51 percent. The joint venture will be renamed as AEGON Industrial Fund Management Company (AIFMC).
Allen & Overy has advised Dubai’s Depa Ltd (Depa) on its US$430 million IPO involving an international offering of shares on the Dubai International Financial Exchange (DIFX) and global depositary receipts on the London Stock Exchange. The listing is the first ever listing by a privately held UAE company on the DIFX and the first equity listing on DIFX this year. Depa has executed projects such as the Burj Al Arab, Burj Dubai, Emirates Palace Hotel in the UAE, and the Museum of Islamic Art in Qatar.
Amarchand & Mangaldas & Suresh A. Shroff & Co. acted for Goldman Sachs (GS) in its acquisition (through its indirect subsidiary, GS Strategic Investments Ltd), of 39.36 percent of the issued share capital in M Pallonji Enterprises Private Ltd (MPEL). The total cash consideration was INR1.84 billion (equivalent to US$46 million). MPEL currently holds 10 percent of the issued share capital of MetLife India Insurance Company Ltd, a public limited company.
Amarchand & Mangaldas & Suresh A. Shroff & Co. acted for Indiabulls in their joint venture agreement with Sogecap, the insurance arm of French financial major Societe General. The joint venture company will be called Indiabulls Societe Generale Life Insurance Company Ltd and will have an initial equity capital of INR3,000 million (equivalent to US$76 million).
Baker & McKenzie.Wong & Leow has advised the Al-Futtaim Group on its successful take-over of Singapore-listed Robinson and Company Ltd.
DLA Piper represented Shanghai Media Group Broadband subsidiary, SMGBB, a media application and service provider, in a significant round of equity financing, uniting SMGBB with Intel Capital to facilitate the co-development of wireless broadband and mobile technology for high-definition TV programmes.
Gide Loyrette Nouel A.A.R.P.I. (GLN) has advised Areva’s Transmission and Distribution Division (Areva T&D) on the creation of three joint venture companies in China as part of a US$20.4 million (€13 million) infrastructure investment plan. GLN’s China team assisted Areva T&D on the entire contractual process, including the drafting and negotiation of the joint venture agreements as well as technology license agreements.
KhattarWong acted for Aqua-Terra Supply Co. Ltd (Aqua-Terra) in the acquisition of 80 percent Oceanic Offshore Engineering Pte Ltd (Oceanic) by its wholly owned subsidiary, Marinehub Pte Ltd (the Acquisition). With the Acquisition, Oceanic becomes a subsidiary of Aqua-Terra. Oceanic is a company incorporated in Singapore and is a specialist for rigging and testing of wire ropes and related services.
Paul Weiss Rifkind Wharton Garrison LLP has represented IFIL Group, in its closing of an investment in Vision Investment Management Ltd, the holding company of an Asia-based alternative investment management group specializing in funds management, in the form of a 5-year mandatory convertible bond in the principal amount of US$90 million. On conversion the deal will entitle IFIL group to 40 percent of the equity capital of Vision.
Yuan Tai has represented Shenzhen-based asset manager China Southern Fund Management in the launch of China’s first overseas stock fund under the country’s Qualified Domestic Institutional Investor (QDII) scheme. Issued by CSRC in June, China’s QDII scheme is part of Beijing’s efforts to encourage capital outflow. China’s foreign exchange reserves swelled to US$1.33 trillion in the first half of 2007.
Yuan Tai has advised ICBC-Credit Suisse Asset Management in the launch of its first fund product under China’s QDII scheme. Only 12 fund managers have been granted QDII licences as yet; and since September only four have launched QDII funds.
Watson, Farley & Williams LLP has advised The CSL Group Inc. (CSL) on its sale to Altus Group Ltd (Altus) of indirect interests in the joint venture company, Paiton Shipping Inc., a subsidiary of which currently provides shipping services under a contract of affreightment to Indonesian independent power producer, PT Jawa Power.