|White & Case Thailand has advised Barclays Capital, Citigroup Global Markets Asia Ltd, and a consortium of Thai banks, including Bangkok Bank Public Company Limited, Krungthai Bank Public Company Limited, Government Savings Bank, Siam City Bank Public Company Limited, The Siam Commercial Bank Public Company Limited, and TMB Bank Public Company Limited in connection with an US$805 million bridge-loan facility for Thai Petrochemical Industry Public Company Limited.
Baker & McKenzie has advised China BlueChemical Ltd, as Hong Kong and US law counsel, on its US$341 million (HK$2.66 billion before exercise of the over allotment option) global offering. The shares commenced trading on the Hong Kong Stock Exchange on 29 September 2006. China BlueChemical is the one of the largest nitrogenous fertilizer makers by production volume in China. The proceeds from the IPO will be used for building a production plant, reducing debt and for working capital purposes.
Clifford Chance has advised The Coca Cola Company on the acquisition of a controlling shareholding in Kerry Beverages Limited, its bottling joint venture with the Kerry Group, a conglomerate based in Hong Kong.
Johnson Stokes & Master has advised China Star Entertainment Limited on, and finalised, the sale of a Film Library which comprises 100 movies to Fortune Star, a subsidiary of the STAR (TV) Group. The consideration is for US$18,000,000. Of the Film Library, 48, 31 and 21 Pictures are Grade A, B and C respectively.
Freshfields Bruckhaus Deringer has advised Mitsui on the possible acquisition of a 25 percent stake in China’s Erdos Electrical Power & Metallurgical Co Ltd for an estimated US$155 million.
Watson, Farley & Williams has advised DVB Bank, ING Bank and BTMU Capital Corporation on the purchase and manage-back arrangements and financing to acquire 60 percent of Florens Container Holdings’ container portfolio. Florens, a wholly-owned subsidiary of Cosco Pacific Ltd, sold approximately 600,468 TEUs for approximately US$870 million to BUSS Group, a leading KG issuing house for container funds.
Deacons has acted as the Hong Kong legal adviser for DBS Asia, the Global Coordinator, the Sponsor and the Underwriters of the IPO of Beijing Jingkelong on the Hong Kong GEM board. Beijing Jingkelong, a Beijing-based supermarket chain operator owned by the Beijing Chaoyang Government runs about 170 retail outlets in Beijing, offered 132 million H-shares and raised about HK$600 million in its IPO. This is one of the largest GEM listing in the recent years.
Clifford Chance has advised Asian Development Bank on its investment of up to US$30 million in Hangzhou City Commercial Bank, equivalent to approximately 5 percent of the total outstanding shares.
Latham & Watkins LLP has acted as US counsel to Lehman Brothers, sole bookrunner of the US$100 million offering of convertible senior notes due 2011 of ChipMOS Technologies (Bermuda) Ltd, a leading independent provider of semiconductor testing and assembly services. ChipMOS is based in Taiwan and listed on the Nasdaq Global Select Market. This is Latham’s first deal in Taiwan and was led out of the firm’s Hong Kong office.
Clifford Chance has advised The Small and Medium Enterprise Development Bank of Thailand on a US$80 million loan from the Japan Bank for International Co-operation. Small Thai businesses that support Japanese businesses in Thailand will be able to borrow money from the SME Bank for the purchase of new technology or machinery.
Linklaters has advised Volvo Construction Equipment on its acquisition of a 70 percent stake in Shandong Lingong Construction Equipment Machinery Co Ltd (Lingong), a major construction machinery manufacturer with a comprehensive dealer network throughout China. The transaction is subject to regulatory approval.
Herbert Smith has advised JP Morgan and UBS as joint global coordinators on the global offering of China BlueChemical, the fertilizer unit of CNOOC, China’s third largest petroleum company. The transaction raised HK$2.66 billion (approximately US$342 million) and included both a Hong Kong public offering and an international offering within and outside the United States. China BlueChemical successfully offered a total of 1.4 billion shares at HK$1.90 per share.
Clifford Chance has advised Shell China Holdings BV on its indirect acquisition of a 75 percent share in Beijing Tongyi Petroleum Chemical Company Limited and Xianyang Tongyi Petroleum Chemical Company Limited.
Sidley Austin has represented Agile Property Holdings Limited, a company listed on The Stock Exchange of Hong Kong, as US and Hong Kong counsel in connection with its issuance of US$400 million 9 percent Senior Notes due 2013 including “high yield” covenants, pursuant to Regulation S and Rule 144A, with a listing on the Singapore Stock Exchange. The high-yield issuance marks Agile’s first international debt offering.