Deals – 8 January 2009

Baker & McKenzie has advised Asahi Breweries Ltd on the US$1.2 billion share and asset purchase of Schweppes Australia from Cadbury plc. The bid is pending regulatory approval and subject to a right of negotiation for the acquisition of the Schweppes business granted to the Coca-Cola Co. Lead partners on the transaction were Steven Glanz for the Australia team, Hiroshi Kondo for the Japan team and Skip Rankin for the New York team.

Clifford Chance Dubai’s Mike Taylor led the team advising Arabian Co for Water and Power Development on the US$126 million capital increase by its affiliate International Co for Water and Power Projects and related investment by certain strategic Saudi partners.

Clifford Chance Dubai has advised Mediaset SpA in relation to its acquisition of a 25 percent interest in Nessma SA. Mediaset acted in parallel with another Italian entity, Prima TV SpA, which also acquired a 25 percent interest in the business. Simon Clinton in Dubai and Joachim Fleury in London acted as lead partners on the transaction

Clifford Chance has advised NTT Data on disposition of majority shares in its financial data provider subsidiary, NTT Data Financial. Tokyo corporate partners Atsushi Yamashita, Naoki Watanabe and Tracy Whiriskey led the transaction.

Dechert LLP represented One Equity Partners in its recent investment in DC Chemical Co Ltd of Korea. The investment represents a 66.75 percent stake in the company. Partners Sang Park, Edward Lemanowicz and Joshua Rawson led the team on the transaction.

Gide Loyrette Nouel has advised the French State on the construction of its new embassy in Beijing. The €25 million embassy will form part of a new campus that will concentrate all French diplomatic services present in a single location. The firm assisted the French Foreign Affairs Ministry and its local real estate branch in preparing the bidding procedure, including the preparation of all relevant legal documentation, and in drafting a construction agreement compliant with both French Administrative practices and Chinese law. The Beijing-based team was led by partner Guillaume Rougier-Brierre.

Kim & Chang acted as Korean legal counsel to the managers in Sinbo 2008 Second Securitization Specialty Co Ltd’s issuance of asset backed securities in the amount of ₩250 billion. The issuance was structured as a domestic primary CBO transaction to assist financing of small and medium-sized enterprises in difficult market conditions. Partner YH Kim led the transaction team.

Kim & Chang have assisted a group of lenders led by BNP Paribas for financing of the purchase price of four LNG carriers partially covered by Korea Export Insurance Corp. HS Yoon led the firm’s advisory team on this transaction.

Kim & Chang ’s Yong-Seung Shun led the firm’s team in advising BNP Paribas Group on the merger of Shinhan BNP Paribas ITMC and SH Asset Management Co Ltd into a single asset management company and on the later sale of shares to BNP of shares in the surviving company.

Kim & Chang advised Doosan Corp and MBK Partners in the sale of TechPack solutions to MBK. Key partners SY Park and JK Park led the advisory teams on this deal, valued at approximately ₩400 billion.

Kim Chang & Lee has advised Shinhan Bank in the refinancing of the Woomyunsan Tunnel private participation project. This deal is the first case of profit sharing between government and concessionaire through reorganization of the capital structure of the concessionaire under the refinancing guidelines announced by the Korea Development Institution. Yongki Ko and Sangyup Byon were lead partners on the transaction.

LOGOS Law LLC represented DS LCD & MonAmi Co in a bellwether case with combined losses of over US$21 million in KIKO contracts. The court found in favour of the client on the grounds that the bank had not met its obligations to recommend additional measures to limit losses, nor to sufficiently explain possible risks. Partner and former senior judge Young Ho Kim led the suit with the assistance of partner Moo Kyum Kim.

Mayer Brown JSM acted for Hempel AG on the conditional buy-out of its joint venture partner China Merchant Holdings (International) Co Ltd in Hempel-Hai Hong. The total consideration for the sale of the sale shares, the assignment of the joint venture IP rights and the grant of all other rights to Hempel was over HK$1.1 billion (US$145 million). Stephen Bottomley acted as lead partner on this transaction.

Orrick, Herrington & Sutcliffe LLP has advised Dentsu Inc in creating a joint venture advertising agency based in Moscow, Russia. The new joint venture represents the first acquisition by a Japanese advertising agency of a Russian advertising agency. A team of Russia-qualified lawyers led by partner Sergey Milanov advised on the formation of the joint venture and the acquisition of assets.

Watson, Farley & Williams has advised a syndicate of lenders led and arranged by Bank of China Ltd (Grand Cayman Branch) and Bank of China (Hong Kong) Ltd in relation to certain loan facilities made available to two subsidiaries of COSCO in relation to financing the acquisition of two bulk carrier new buildings. The international finance team was led by partner Madeline Leong on this transaction.

White & Case has advised the mandated lead arrangers, Bank of China, Standard Chartered Bank, Industrial and Commercial Bank of China, Calyon, The Hongkong and Shanghai Banking Corp, Standard Bank Plc and Sumitomo Mitsui Banking Corp on the financing of the acquisition of Awilco Offshore ASA, a Norwegian oil and gas drilling contractor. Hong Kong partner Hallam Chow led the advisory team on the transaction.

WongPartnership LLP acted for EPURON Pte Ltd in setting up Renewable Energy Trust Asia, the first private business trust investing in renewable energy projects in the Asia-Pacific region. The trust plans to build a portfolio of some 200 megawatts through potential investments totaling US$250 million within the next five years. The transaction was led by partner Low Kah Keong.

WongPartnership LLP acted for Asia Cement (China) Holdings Corp as Singapore counsel in connection with its IPO on the Hong Kong Stock Exchange which raised approximately HK$2 billion. The transaction was led by partners Chan Sing Yee and Quak Fi Ling.