|Clifford Chance Hong Kong office has advised the Wu Jieh Yee Co Ltd on the joint auction sale of the Wu family’s controlling stake in Wing Lung Bank. The purchaser was China Merchants Bank. Wing Lung Bank is valued at approximately US$4.66 billion or 3.1 times book value. The consideration was approximately US$1.3 billion.
Clyde & Co LLP has advised the Yemen Gulf of Aden Port Corp on a significant joint venture with Dubai Port World (DP World). The joint venture to operate, manage and develop the container terminal facilities at the Port of Aden includes the lease of both Aden Container Terminal and of nearby Ma’alla Container Terminal, and a commitment by the joint venture to make an initial investment of US$200 million in further developing the port.
Hadiputranto, Hadinoto & Partners represented PT Adaro Energy Tbk in its US$1.3 billion IPO. In Rupiah terms, this was Indonesia’s largest ever IPO, and Asia’s third largest IPO this year outside of Japan. The majority of the funds raised will be used to acquire stakes in remaining shares of subsidiaries.
Hadiputranto, Hadinoto & Partners represented PT Medco Energi Internasional Tbk in the divestment of US$340 million of Medco’s shares in Apexindo.
Rajah & Tann LLP acted as counsel to Fraser and Neave Ltd and Frasers India (I) Pte Ltd which entered into an agreement with Kotak India Real Estate Fund-I and KS Realty Constructions Private Ltd to acquire 74 percent shareholding interest in KS Realty.
Rajah & Tann LLP acted as counsel to Zhong Nan Holdings Ltd (the offeror) in the delisting of Midsouth Holdings Ltd (MS) from the official list of the Singapore Exchange Securities Trading Ltd pursuant to an exit offer by the offeror to the shareholders of MS. The deal value was approximately S$66 million.
Slaughter and May advised Fubon Bank (Hong Kong) Ltd on the updating of its US$1 billion Euro Medium Term Note Programme. Notes issued under the Programme may be listed on the Hong Kong Stock Exchange.
Slaughter and May acted as Hong Kong legal adviser to United Energy Group Ltd in relation to its acquisition of a substantial interest in Transmeridian Exploration Inc valued at approximately US$212 million.
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