Allen & Gledhill has acted as transaction counsel to Wavemaker Pacific 4 on leading the US$3 million series seed round investment in Singapore-headquartered customer data platform Meiro, which helps brands use customer data to significantly improve customer experience and marketing campaign performance, empowering brands to gain a holistic understanding of customer preferences and behaviours across various touchpoints and ultimately maximizing customer satisfaction and business profitability. Partner Nicholas Soh led the firm’s team in the transaction.
Allen & Gledhill has also acted as transaction counsel to ARA Trust Management (Suntec), as manager of Suntec Real Estate Investment Trust (Suntec REIT), on the S$950 million (US$707m) sustainability-linked term loan facility to HSBC Institutional Trust Services (Singapore), as trustee of Suntec REIT. Partner Jafe Ng led the firm’s team in the transaction.
Moreover, Allen & Gledhill has also advised Temasek Financial (I) and Temasek Holdings on the issue of Rmb750 million (US$104m) 3.2 percent guaranteed notes due 2029, under the US$25 billion guaranteed global medium term note programme established by Temasek Financial (I). The notes are unconditionally and irrevocably guaranteed by Temasek Holdings and is its inaugural issuance of offshore renminbi- denominated bonds. Partners Yeo Wico, Wu Zhaoqi, Kern Wong and Sunit Chhabra led the firm’s team in the transaction.
AZB & Partners has advised Aegon India Holding on the acquisition by Bandhan Financial Holdings of 95.8 percent equity stake of Aegon Life Insurance from Aegon India Holding and Bennett Coleman & Company. Partners Darshika Kothari, Nandish Vyas, Kritika Agarwal, Nandan Pendsey, Nishanth Ravindran, Gaurav Bansal and Aditya Singh Chandel led the firm’s team in the transaction, which was completed on February 23, 2024.
AZB & Partners has also advised Accenture on its acquisition of Database Parent, including acquisition of the Indian target Navisite India, Dickinson Technology Consulting Services and Velocity Tech-Sol India. Partners Vaidhyanadhan Iyer, Malaveeka Chakravarthy and Nishanth Ravindran led the firm’s team in the transaction, which was completed on January 29, 2024.
Baker McKenzie has advised APG Asset Management, the investment manager of the largest pension provider in the Netherlands, on its investment into ESR Group’s open-ended Korea logistics Core Fund, which exceeds US$400 million. The Core Fund is South Korea’s first perpetual open-ended core fund, established by ESR Kendall Square (ESRKS), the Seoul-based subsidiary of APAC’s leading real asset manager ESR Group. The Core Fund grows out of the original joint venture between CPP Investments, APG and ESRKS in 2015, and is seeded with seven “best-in-class” warehouses in strategic prime locations, mainly in the Greater Seoul and Greater Busan areas. As an open-ended vehicle, the Core Fund aims to acquire high-quality income producing stabilized assets, including those from an extensive pipeline of development assets managed by ESRKS, to deliver long-term returns for its investors. Funds partner Jason Ng led the firm’s team in the transaction.
Baker McKenzie Wong & Leow, the Singapore member firm of Baker McKenzie, has represented Dutch pension investor APG Asset Management and a wholly-owned subsidiary of Abu Dhabi Investment Authority (ADIA) on an investment, alongside the Indonesia Investment Authority (INA), in the Trans Java Toll Road sections of Kanci-Pejagan and Pejagan-Pemalang in Indonesia. The toll road sections are the initial seed assets for the platform, which is targeting up to US$2.75 billion of investment opportunities in Indonesia’s toll road networks. These sections are instrumental in boosting regional connectivity in Indonesia, and have seen a 1.5 times surge in traffic volume from 2016 to 2021. Singapore M&A principal Boo Bee Chun and Jakarta partner Nadia Soraya led the firm’s cross-border team in the transaction.
Allen & Gledhill has acted as transaction counsel to Wavemaker Pacific 4 on leading the US$3 million series seed round investment in Singapore-headquartered customer data platform Meiro, which helps brands use customer data to significantly improve customer experience and marketing campaign performance, empowering brands to gain a holistic understanding of customer preferences and behaviours across various touchpoints and ultimately maximizing customer satisfaction and business profitability. Partner Nicholas Soh led the firm’s team in the transaction.
Allen & Gledhill has also acted as transaction counsel to ARA Trust Management (Suntec), as manager of Suntec Real Estate Investment Trust (Suntec REIT), on the S$950 million (US$707m) sustainability-linked term loan facility to HSBC Institutional Trust Services (Singapore), as trustee of Suntec REIT. Partner Jafe Ng led the firm’s team in the transaction.
Moreover, Allen & Gledhill has also advised Temasek Financial (I) and Temasek Holdings on the issue of Rmb750 million (US$104m) 3.2 percent guaranteed notes due 2029, under the US$25 billion guaranteed global medium term note programme established by Temasek Financial (I). The notes are unconditionally and irrevocably guaranteed by Temasek Holdings and is its inaugural issuance of offshore renminbi- denominated bonds. Partners Yeo Wico, Wu Zhaoqi, Kern Wong and Sunit Chhabra led the firm’s team in the transaction.
AZB & Partners has advised Aegon India Holding on the acquisition by Bandhan Financial Holdings of 95.8 percent equity stake of Aegon Life Insurance from Aegon India Holding and Bennett Coleman & Company. Partners Darshika Kothari, Nandish Vyas, Kritika Agarwal, Nandan Pendsey, Nishanth Ravindran, Gaurav Bansal and Aditya Singh Chandel led the firm’s team in the transaction, which was completed on February 23, 2024.
AZB & Partners has also advised Accenture on its acquisition of Database Parent, including acquisition of the Indian target Navisite India, Dickinson Technology Consulting Services and Velocity Tech-Sol India. Partners Vaidhyanadhan Iyer, Malaveeka Chakravarthy and Nishanth Ravindran led the firm’s team in the transaction, which was completed on January 29, 2024.
Baker McKenzie has advised APG Asset Management, the investment manager of the largest pension provider in the Netherlands, on its investment into ESR Group’s open-ended Korea logistics Core Fund, which exceeds US$400 million. The Core Fund is South Korea’s first perpetual open-ended core fund, established by ESR Kendall Square (ESRKS), the Seoul-based subsidiary of APAC’s leading real asset manager ESR Group. The Core Fund grows out of the original joint venture between CPP Investments, APG and ESRKS in 2015, and is seeded with seven “best-in-class” warehouses in strategic prime locations, mainly in the Greater Seoul and Greater Busan areas. As an open-ended vehicle, the Core Fund aims to acquire high-quality income producing stabilized assets, including those from an extensive pipeline of development assets managed by ESRKS, to deliver long-term returns for its investors. Funds partner Jason Ng led the firm’s team in the transaction.
Baker McKenzie Wong & Leow, the Singapore member firm of Baker McKenzie, has represented Dutch pension investor APG Asset Management and a wholly-owned subsidiary of Abu Dhabi Investment Authority (ADIA) on an investment, alongside the Indonesia Investment Authority (INA), in the Trans Java Toll Road sections of Kanci-Pejagan and Pejagan-Pemalang in Indonesia. The toll road sections are the initial seed assets for the platform, which is targeting up to US$2.75 billion of investment opportunities in Indonesia’s toll road networks. These sections are instrumental in boosting regional connectivity in Indonesia, and have seen a 1.5 times surge in traffic volume from 2016 to 2021. Singapore M&A principal Boo Bee Chun and Jakarta partner Nadia Soraya led the firm’s cross-border team in the transaction.
K&L Gates has advised Dash Living on its new joint venture with PGIM Real Estate for the acquisition and development of The Sheung Wan by Ovolo, a 56-key boutique hotel located in Hong Kong’s central business district. This is Dash Living’s second co-living joint venture with PGIM Real Estate, strengthening their existing partnership following the opening of Dash Living on Hollywood, the recently launched co-living residence acquired in connection with their first joint venture. The new property will mark Dash Living’s 26th location in the Asia-Pacific, and will be converted into Dash Living on Queen’s – an expansion of Dash Living on Hollywood, a co-living residence which is a three-minute walk away. Founded in Hong Kong in 2014, Dash Living has grown its footprint in key locations across the region, including Singapore, Japan and Australia. PGIM Real Estate is the US$210 billion real estate investment and financing business of PGIM. Hong Kong corporate partner William Ho led the firm’s team in the transaction.
Shardul Amarchand Mangaldas & Co has advised 3Fate Technologies on its Pre-Series A fundraise by Jungle Ventures IV and its secondary transfer of securities from certain existing shareholders. The fundraising round saw participation from new investors, such as Jungle Ventures IV (Singapore) and Accion Venture Lab Holdings (USA). Existing investors involved in the fundraise were Strive III Investment Limited Partnership (Japan), Gemba Capital Fund I and Titan Capital, and debt partners Alteria Capital and Stride Ventures. Partner Navruz Vakil led the firm’s team in the transaction, which was valued at approximately US$6.5 million and closed in November 2023. Jungle Ventures IV was advised by Argus Partners. Accion Venture Lab Holdings was advised by Tatva Legal, and Gemba Capital Fund I was advised by LexStart Partners.
Shardul Amarchand Mangaldas & Co has also advised Deepak Fertilizers and Petrochemicals on a long-term supply and purchase agreement for Liquefied Natural Gas (LNG) with Equinor ASA. The agreement covers an annual supply of around 0.65 MPTA of LNG for a 15-year period. Partner Prashant Sirohi led the firm’s team in the transaction, which is valued at approximately US$4 billion and was executed on February 19, 2024.
Moreover, Shardul Amarchand Mangaldas & Co has advised Sandeep Sankhla and Vrinda Deval on their sale, with other shareholders, of the entire shareholding of GM Insights Solutions and its subsidiary, Glocal Mind, to Apollo Intelligence Operating. Partner Devesh Pandey led the firm’s team in the transaction, which was signed on January 5, 2024. White Summers Caffee & James and Baker Newman Noyes acted for the sellers as international counsel and tax counsel, respectively. Goodwin Procter and Cyril Amarchand Mangaldas acted as international counsel and Indian counsel, respectively, to Apollo Intelligence Operating.
K&L Gates has advised Dash Living on its new joint venture with PGIM Real Estate for the acquisition and development of The Sheung Wan by Ovolo, a 56-key boutique hotel located in Hong Kong’s central business district. This is Dash Living’s second co-living joint venture with PGIM Real Estate, strengthening their existing partnership following the opening of Dash Living on Hollywood, the recently launched co-living residence acquired in connection with their first joint venture. The new property will mark Dash Living’s 26th location in the Asia-Pacific, and will be converted into Dash Living on Queen’s – an expansion of Dash Living on Hollywood, a co-living residence which is a three-minute walk away. Founded in Hong Kong in 2014, Dash Living has grown its footprint in key locations across the region, including Singapore, Japan and Australia. PGIM Real Estate is the US$210 billion real estate investment and financing business of PGIM. Hong Kong corporate partner William Ho led the firm’s team in the transaction.
Shardul Amarchand Mangaldas & Co has advised 3Fate Technologies on its Pre-Series A fundraise by Jungle Ventures IV and its secondary transfer of securities from certain existing shareholders. The fundraising round saw participation from new investors, such as Jungle Ventures IV (Singapore) and Accion Venture Lab Holdings (USA). Existing investors involved in the fundraise were Strive III Investment Limited Partnership (Japan), Gemba Capital Fund I and Titan Capital, and debt partners Alteria Capital and Stride Ventures. Partner Navruz Vakil led the firm’s team in the transaction, which was valued at approximately US$6.5 million and closed in November 2023. Jungle Ventures IV was advised by Argus Partners. Accion Venture Lab Holdings was advised by Tatva Legal, and Gemba Capital Fund I was advised by LexStart Partners.
Shardul Amarchand Mangaldas & Co has also advised Deepak Fertilizers and Petrochemicals on a long-term supply and purchase agreement for Liquefied Natural Gas (LNG) with Equinor ASA. The agreement covers an annual supply of around 0.65 MPTA of LNG for a 15-year period. Partner Prashant Sirohi led the firm’s team in the transaction, which is valued at approximately US$4 billion and was executed on February 19, 2024.
Moreover, Shardul Amarchand Mangaldas & Co has advised Sandeep Sankhla and Vrinda Deval on their sale, with other shareholders, of the entire shareholding of GM Insights Solutions and its subsidiary, Glocal Mind, to Apollo Intelligence Operating. Partner Devesh Pandey led the firm’s team in the transaction, which was signed on January 5, 2024. White Summers Caffee & James and Baker Newman Noyes acted for the sellers as international counsel and tax counsel, respectively. Goodwin Procter and Cyril Amarchand Mangaldas acted as international counsel and Indian counsel, respectively, to Apollo Intelligence Operating.
Skadden is also advising VX Logistic Properties, a subsidiary of China Vanke, on the proposed spin-off and separate listing of three warehouse logistic park projects through a publicly traded infrastructure securities investment fund on the Shenzhen Stock Exchange. China-based China Vanke principally engages in real estate development and property management. Following notice of acceptance from the CSRC on March 1, 2024, China Vanke will commence the application process for the listing of the infrastructure REIT comprising high-standard warehouse logistic parks, owned by VX Logistic properties, as CAMC-VX Warehousing and Logistic Close-end Infrastructure Securities Investment Fund. The spin-off and proposed listing will ensure that the value of the spun-off assets is better reflected, assist in continuous capital raising, enable China Vanke to remain more competitive and allow the company’s high quality assets to be listed separately in the Chinese market. Beijing partner Kai Sun led the firm’s team in the transaction.
TT&A has advised Renew Group on the sale of 300 MW solar project in Rajasthan for a total enterprise value of US$199 million. Partners Gautam Saha, Punita Gupta and Akshay Malhotra led the firm’s team in the transaction.
TT&A has also advised CleanMax Enviro Energy Solutions on the supply of power on captive basis to Bangalore International Airport from a 45.9 MW (36 MW of solar and 9.9 MW wind) power project located in Karnataka. Partner Akshay Malhotra led the firm’s team in the transaction.
