|AZB & Partners has advised the promoters of Shree Renuka Sugars Ltd (SRS) in respect of the acquisition by Wilmar Sugar Holdings Pte Ltd of up to 27.5 percent of the post issue shareholding in SRS for approximately INR5.1 billion (US$82m); the open offer by Wilmar Sugar Holdings and the promoters of SRS for 26 percent of the share capital of SRS for approximately INR5.32 billion (US$85.6m); and the acquisition of additional shares in SRS for approximately INR7.2 billion (US$115.8m). Partner Anil Kasturi led the transaction which was signed on 20 February 2014 and is yet to be completed.
AZB & Partners has also advised Bamboo Finance, as investment manager to Oasis Capital (Mauritius) Ltd, in respect of Oasis Capital’s acquisition of 29.41 percent of Modern Family Doctor Private Ltd. Saama Capital acquired further equity shares which, together with its existing investment in the target, had given Saama Capital 25.29 percent of Modern Family Doctor. Partner Srinath Dasari led the transaction which was completed on 17 February 2014 and was valued at approximately US$4 million.
Clayton Utz has advised Macquarie Capital (Australia) Ltd and Evans and Partners Pty Ltd, as joint lead managers and book-runners, in respect of the A$61.2 million (US$54.7m) raising by Saracen Mineral Holdings Ltd. The raising comprises a A$27.7 million (US$24.8m) institutional share placement to institutional and sophisticated investors, undertaken via the institutional bookbuild. The underwritten floor price is A$0.31 (US$0.28) per share with an accelerated 2 for 11 non-renounceable entitlement offer at the same price as the placement (A$0.31) (US$0.28) to raise total proceeds of A$33.6 million (US$30m). Partner Mark Paganin led the transaction which was announced on 25 February 2014.
King & Wood Mallesons has advised Fife Capital Funds Ltd, the responsible entity for the Australian Industrial REIT (ANI), in respect of the A$81.2 million (US$72.6m) acquisition of a portfolio of six industrial properties from Primewest. ANI will partially fund its planned purchase with a A$56.4 million (US$50.4m) equity raising, undertaking a fully underwritten 1 for 2.4 accelerated non-renounceable entitlement offer. The properties are located in well-established industrial precincts in Melbourne and Perth, and will increase the value of ANI’s portfolio to A$286.5 million (US$256.2m) on a pro forma basis. Partners Brian Murphy and Stuart Dixon-Smith led the transaction. Gadens Lawyers, led by partner Andrew Kennedy, acted for Primewest.
Paul Hastings is advising CDH Investments, a leading asset fund manager focusing on investments in private equity, venture capital, real estate, mezzanine and public equity markets, in respect of the US$40 million acquisition from Eldorado Gold Corporation of a 20 percent interest in the Eastern Dragon project, a gold mine in Heilongjiang Province, China. Partners Vivian Lam and Nan Li are leading the transaction.
Rajah & Tann has advised SGX-listed Hwa Hong Corporation Ltd in respect of the disposal of its entire interest in Phratra Sdn Bhd to Nam Heng Oil Mill Co Sdn Bhd and Guan Meng Kuan for an aggregate consideration of RM17 million (US$5.18m). Phratra Sdn Bhd is incorporated in Malaysia and owns 51 pieces of freehold land located along Jalan Kluang in Batu Pahat, Johor, Malaysia. Partners Lawrence Tan and Soh Chai Lih, with partner Yon See Ting from the firm’s Malaysian office, Christopher & Lee Ong, led the transaction which was completed on 17 February 2014.
Skadden has advised BNP Paribas Securities (Asia) Ltd as sole sponsor and sole global coordinator in respect of the HK$698.8 million (US$90m) global offering and listing of shares on the HKSE of China Metal Resources Utilisation Ltd (CMRU), a copper recycler and producer of downstream copper products based in China. CMRU is among the first Chinese companies taken-private from a US stock exchange to have re-listed some of its business in Hong Kong. Partners Alec Tracy and Christopher Betts led the transaction.
Please note, due to staff holidays the remainder of this week’s deals will appear in next week’s Weekly Briefing. Apologies for any inconvenience.