Deals – 9 April 2009

Azmi & Associates acted as Malaysian counsel for Ingress Corp Berhad in a joint venture and the associated transactions with Mayur Industries Ltd, for the establishment of a new joint entity in the city of Gurgaon to undertake automotive parts manufacture.

Clifford Chance advised UBS as sole global coordinator and sponsor on the listing of Silver Base Group Holdings Ltd on the main board of the Hong Kong Stock Exchange. The final offer price was HK$3.45, raising gross proceeds of approximately US$133 million. Corporate partner Amy Lo led the advisory team in the transaction.

Freshfields Bruckhaus Deringer advised Atlantis Resources Corp on its fund raising from Statkraft and its existing shareholders. The firm also advised on the company’s strategic collaboration to develop tidal current electricity projects in Europe. The deal was led by partner and head of the firm’s China IP/IT practice, Connie Carnabuci, and corporate partner Stuart Grider.

Gide Loyrette Nouel partner Guillaume Rougier-Brierre led the firm’s team advising Domaines Baron de Rothschild on its investment in China’s wine industry. The team acted as international counsel in all legal aspects of the joint venture.

Gide Loyrette Nouel has advised Veolia Transport China Ltd on a 50-50 partnership with Wharf Transport Investments Ltd to operate Hong Kong Tramways Ltd. The advisory team was led by partner Rebecca Silli.

Gilbert + Tobin has advised Westpac Banking Corp on its $900 million offer of non-innovative tier 1 hybrids in conjunction with the redemption of existing St George Bank hybrids. Partners Janine Ryan and John Williamson-Noble led the transaction.

Harry Elias Partnership successfully acted for a number of minority subsidiary proprietors in their objection to the S$500 million collective sale of Horizon Towers. The landmark decision marks the first time that the Court of Appeal has decided in favour of minority owners in a disputed en bloc sale in Singapore, and sets out the extent of the duties of a sales committee and the responsibility of the Strata Titles Board in a challenged en bloc transaction. Lead counsel in the case were Philip Fong, head of civil & commercial litigation, and partners Harry Elias and KS Rajah.

Lovells advised Dubai Islamic Bank PJSC, Emirates Bank International PJSC, Noor Islamic Bank PJSC, Union National Bank, Mashreqbank psc, Commercial Bank of Dubai, Industrial and Commercial Bank of China Ltd and WestLB AG, London branch on a US$635 million equivalent multicurrency ijara sovereign financing for the Government of Dubai. The Lovells team was led by Rahail Ali, the firm’s head of Islamic finance.

Lovells has advised on the listing of Silver Base Group Holdings Ltd, raising approximately US$133 million. The team advising the client was led by corporate partner Terence Lau.

Maples and Calder acted as the Cayman Islands legal adviser for Shinsei Bank and two subsidiaries in the raising of 48 billion Japanese yen by way of issue of preferred securities.

Watson, Farley and Williams LLP acted for Standard Chartered Bank in relation its role as agent, arranger, security trustee and as one of the lenders in relation to a loan facility to Contender Marine Ltd. The transaction was structured along traditional ship finance lines but contained highly structured terms of security which required the involvement of numerous jurisdictions in relation to in particular, Nigerian and Angolan legal issues. The deal was led by Chris Lowe, partner in the international finance group and head of the Singapore office.

WongPartnership LLP acted for Raffles Education Corp Ltd, through several of its subsidiaries in their acquisition of the entire share capital of Hefei Wanbo Education Management Co Ltd for 208.5 million renminbi. Partner Joseph He led the transaction.

WongPartnership LLP acted for Raffles Education Corp Ltd in the placement of 80 million shares at an issue price of S$0.381 per share. The placement successfully raised gross proceeds of approximately S$30.5 million. Partner Raymond Tong led the transaction.

WongPartnership LLP acted as Singapore legal counsel for The Ascott Residence Trust in the acquisition of the entire issued share capital of The Ascott (Vietnam) Investments Pte Ltd from The Ascott Holdings Ltd and Somerset (Vietnam) Investments Pte Ltd. Partners Quak Fi Ling and Owyong Eu Gene led the transaction.