Allen & Gledhill is advising CapitaLand Integrated Commercial Trust (CICT) on the sale of 100 percent of its interest in Asia Square Tower 2 to IOI Marina View, a wholly-owned subsidiary of IOI Properties Group, for an agreed property value of S$2.48 billion (US$2b). A separate team is advising DBS Bank on the S$123.8 million (US$97.6m) term loan facility to IOI Marina View to finance the option fee for the proposed acquisition of MVKimi (BVI), which owns, through its wholly-owned subsidiary Asia Square Tower 2, the Asia Square Tower 2 property. Partners Prawiro Widjaja, Eudora Tan, Teh Hoe Yue, Jessie Lim and Chua Xinying are leading the firm’s team advising CICT, while partner Lim Wei Ting is leading the firm’s team advising DBS Bank.
Moreover, Allen & Gledhill (Vietnam) has advised Offgrid Advanced Sustainable Infrastructure Solutions (Oasis), a commercial and industrial solar platform affiliated with SUSI Partners, on its acquisition of Asia Clean Capital Vietnam (ACCV), a pioneering company in the renewable energy sector committed to promoting sustainable solutions across Vietnam. Managing partner Oh Hsiu-Hau and partner Jonathan Lin led the firm’s team in the transaction.
AZB & Partners has advised the Mankekar Family Office on its Rs13.8 billion (US$146m) acquisition of stake, along with Everdoc and Param Pal Singh Kandhari, in Wingify Software. Partner Anand Shah led the firm’s team in the transaction, which was completed on March 31, 2026.
AZB & Partners has also advised Innomotics India on its Rs22 billion (US$233m) acquisition of the Low Voltage Motors business from Siemens. Partner Bharat Budholia led the firm’s team in the transaction, which was approved by the CCI on February 12, 2026.
Moreover, AZB & Partners has advised Advent International on its Rs27 billion (US$286m) acquisition of stake by Advent International entity Indriya in Aditya Birla Housing Finance. Partner Kirthi Srinivas led the firm’s team in the transaction, which was approved by the CCI on April 7, 2026.
Baker McKenzie has advised leading Hong Kong-listed biopharmaceutical company Abbisko Cayman on raising approximately HK$522 million (US$66.6m) through the Rule 144A and Regulation S placement of new shares. Abbisko is a clinical stage biopharma company committed to the research, discovery and development of innovative and differentiated medicines designed to address unmet medical needs in China and globally. The net proceeds will be used for the research and development of innovative oncology and non-oncology drug candidates, the advancement of international multi-centre clinical trials, and potential commercialization activities, as well as for general and corporate use. Partner Sheng Chen and FenXun Partners (Baker McKenzie China joint operation partner) partner Yolanda Zheng led the firms’ team in the transaction.
Baker McKenzie Wong & Leow, the Singapore member firm of Baker McKenzie, has advised Vale Indonesia on its US$750 million sustainability-linked loan, making this one of the first sustainability-linked financings in the global resources and mining sector. This syndicated loan facility also marks Vale’s inaugural entry into the international syndicated loan market. The financing, which comprises a US$500 million facility with an upsizing feature, was fully upsized to US$750 million, following strong lender demand and oversubscription. The sustainability-linked loan facility is a crucial step in Vale’s financial resilience and strategy while being aligned with its commitments to environmental sustainability and social responsibility. Singapore finance & projects principal Chu Kah Chin, supported by local principal Simonette Santos, and on Indonesian law by HHP Law Firm (Baker McKenzie Indonesia member firm) Jakarta finance & projects principal Mita Guritno, led the firm’s cross-border team in the transaction, which closed on April 23, 2026.
Clifford Chance has acted as international counsel to Star Sports Medicine on its IPO and listing in Hong Kong. Star Sports Medicine is China’s largest domestic provider of sports medicine implants and instruments, specialising in clinical sports medicine solutions that encompass sports medicine implants, active equipment, associated medical consumables and surgical instruments, as well as regenerative repair products. It offers holistic solutions for the treatment of soft tissue injuries to rotator cuffs, ligaments and meniscus across the shoulders, knees, hips, feet, ankles, elbows, hands and wrists, as well as for the rehabilitation and prevention of sports-related injuries. Partners Fang Liu and Virginia Lee, supported by Beijing partner Claire Cao, led the firm’s team in the transaction.
Davis Polk has advised Shanghai Sunmi Technology on its IPO and listing in Hong Kong, and its Regulation S international offering. The gross proceeds of the offering were approximately HK$908.7 million (US$116m). Shanghai Sunmi Technology is a leading global Business Internet of Things (BIoT) solution provider, with disruptive solutions which integrate smart hardware, software and data insights to enable the digital transformation of a vast array of offline commercial scenarios, streamlining essential business operations, such as payments, membership management, order fulfillment, inventory control and workforce management. Partners Li He and Jason Xu led the firm’s Hong Kong and Beijing team in the transaction.
Davis Polk has also advised Shanghai Xizhi Technology on its IPO and Chapter 18C listing in Hong Kong, and its Rule 144A and Regulation S international offering. The gross proceeds of the offering were approximately HK$2.5 billion (US$319m), prior to the exercise of the over-allotment option. Dedicated to the field of optoelectronic computing, Shanghai Xizhi Technology provides advanced optical interconnect and optical computing solutions. Partners Li He, Jason Xu and Ran Li led the firm’s Hong Kong, Beijing and London team in the transaction.
Moreover, Davis Polk has advised Mabwell (Shanghai) Bioscience on its IPO and listing in Hong Kong, and its Regulation S international offering. Net proceeds of the offering were approximately HK$1.2 billion (US$153m). Mabwell is a pharmaceutical company in China recognized for its ability to innovate in drug development, and for its end-to-end capabilities from drug discovery to commercial sales. Partners Xuelin (Steve) Wang and Jason Xu led the firm’s Hong Kong, Beijing and London team in the transaction.
DLA Piper has advised CITIC Securities (Hong Kong) and CCB International Capital, as the joint sponsors, on the IPO and H share listing of Star Sports Medicine, a China-based medical device company specialising in clinical sports medicine solutions, in Hong Kong. The offering raised approximately HK$830 million (US$106m). The Hong Kong public offering was oversubscribed by 7,823.13 times – the highest oversubscription rate in the history of Hong Kong-listed medical device IPOs – highlighting the exceptionally strong retail investor demand. The IPO attracted strong support from cornerstone investors, including JSC International Investment Fund SPC – Shenghai SP, OAP IV (HK), Mega Prime Development and Poly Platinum Enterprises. Star Sports Medicine is the largest domestic provider in the sports medical device sector. The company offers a comprehensive portfolio of implants and instruments designed to support the diagnosis, treatment and rehabilitation of sports-related injuries, underscoring its strong market position and leadership within China’s rapidly expanding sports medicine sector. APAC equity capital markets head George Wu, supported by APAC capital markets and corporate finance head Sherlyn Lau, led the firm’s team in the transaction.
JSA Advocates & Solicitors has acted as sole and lead counsel to Grasim Industries, the flagship company of the Aditya Birla Group, before the National Company Law Appellate Tribunal (NCLAT) on successfully obtaining an order remanding the CCI order, which imposed a penalty of approximately Rs3 billion (US$32m) and certain behavioural directions on Grasim. The CCI order has been set aside by the NCLAT on grounds of violation of principles of natural justice, and the matter remanded to the CCI for a fresh hearing. Partners Nisha Kaur Uberoi (competition chair) and Sarthak Pande led the firm’s team in the matter.
JSA Advocates & Solicitors has also advised Tata Capital on multiple rupee term loan facilities aggregating to approximately Rs3 billion (US$32m) extended to Enerparc group entities. The financing comprised of rupee term loan facilities to Enerparc Solar Power 6, Enerparc Solar Power 9 and Enerparc Solar Power 10. Partner Karan Mitroo led the firm’s team in the transaction.
Moreover, JSA Advocates & Solicitors has advised E2E Networks on its qualified institutional placement of up to 428,000 equity shares with face value of Rs10.00 (US$0.10) each, aggregating to Rs1 billion (US$10.6m). InCred Capital Wealth Portfolio Managers acted as the lead manager to the QIP. Among the earliest in India to offer cloud GPU-as-a-service, E2E Networks is a multi-region cloud infrastructure provider offering its services in multiple countries. Partner Arka Mookerjee, supported by partner Anshu Bansal, led the firm’s team in the transaction.
Norton Rose Fulbright has advised the lender group on the financing of a 440 MWp solar power project in the Philippines developed by TotalEnergies and Nextnorth, marking the largest internationally financed solar project in the country. Located in Ilagan City in the province of Isabela, the project has reached financial close, and has commenced construction. It is expected to be fully operational by the end of 2027. More than half of the output from the project will be contracted under long‑term power supply arrangements with retail electricity suppliers AdventEnergy and PrimeRES. The remaining power will be sold into the national grid, pursuant to an award in Round 4 of the Green Energy Auction Program (GEAP). The approximately US$300 million project financing is being provided by an international syndicate comprising ING Bank, Sumitomo Mitsui Banking Corporation and Standard Chartered. Partner Ben Carrozzi, supported by partners Nick Merritt and Vittorio Casamento, led the firm’s team in the transaction.
Paul Hastings has advised HD Korea Shipbuilding & Offshore Engineering (KSOE) on its Regulation S issuance of US$1.55 billion Zero Coupon Exchangeable Bonds due in 2031, exchangeable into common shares of HD Hyundai Heavy Industries. The bonds were listed in Singapore. The Hongkong and Shanghai Banking Corporation, JP Morgan Securities and UBS Hong Kong Branch acted as the joint global coordinators, joint lead managers and joint book-runners. KSOE is an intermediate holding company overseeing HD Hyundai Group’s shipbuilding and offshore businesses, with its principal subsidiaries collectively forming a globally leading shipbuilding and heavy industries powerhouse. The proceeds of the bonds will be used to fund global investments, provide operating capital for overseas business operations, and support working capital needs for high-value-added, eco-friendly marine equipment businesses, as well as for general corporate purposes. Corporate partner Iksoo Kim, supported by London partner Dan Hirschovits, led the firm’s team in the transaction, which represents the largest exchangeable bond issuance by an Asian issuer year-to-date.
Shardul Amarchand Mangaldas & Co has advised ICICI Prudential Office Yield Optimiser Fund AIF-II, a fund managed by ICICI Prudential Asset Management, on its acquisition of two Grade-A office properties, namely EcoWorld 21 (Bengaluru) and RMZ Edge (Pune), from the RMZ Group for a composite deal value of approximately Rs26 billion (US$275m). Partners Anuj Bhasme, Harshita Srivastava and Rishikesh Desai led the firm’s team in the transaction.
Shardul Amarchand Mangaldas & Co has also advised POSCO Group (POSCO and POSCO-India) on its proposed 50:50 joint venture with JSW Steel for the establishment of a greenfield six million tons per annum integrated steel manufacturing plant in Odisha, India. The transaction involves POSCO Group subscribing to equity shares in Saffron Resources, a wholly-owned subsidiary of JSW Steel. Upon completion of the transaction, Saffron Resources will operate as a 50:50 joint venture between POSCO Group and JSW Steel. Partners Shruti KRsa and Rohan Sharda, supported by partners Rohan Arora, Supritha Prodaturi, Sanjiv Malhotra (tax head), Gouri Puri, Aayush Nagpal, Rahul Yadav, Rohit Garg, Misha, Vaijayant Paliwal, Siddhant Kant, Binsy Susan, Akshay Sharma, Radhika M Dudhat, Mrinal Kumar, Rohit Bajaj, Pallavi Shroff (managing partner) and V R Neelakantan, led the firm’s multi-disciplinary team in the transaction, which is subject to satisfaction of certain conditions precedent.
Simpson Thacher is representing Blackstone-affiliated funds on the merger of EPL and Indovida India. The transaction values EPL at Rs339.00 (US$4.22) per share, 70 percent higher than the closing price on the trading day immediately prior to signing. The combined platform will have a valuation of approximately US$1.9 billion, with EPL being valued at approximately US$1.2 billion and Indovida being valued at approximately $700 million. Upon completion of the merger, Indorama Ventures and Blackstone will own approximately 51.8 percent and 16.6 percent of the merged entity, respectively. EPL is a leading global packaging company, manufacturing laminated plastic tubes catering to the FMCG and pharmaceutical space. Employing over 6,000 people representing over 23 different nationalities, EPL operates in 11 countries through 21 state-of-the-art manufacturing facilities. EPL is a leader in sustainability, and is continuing to grow every year. Indovida is one of the leading rigid PET packaging platform, producing preforms, bottles and closures for food & beverages, healthcare and consumer markets, with 19 manufacturing facilities across nine countries, primarily in Southeast Asia and Africa. One hundred percent owned by Indorama Ventures, Indovida benefits from supply chain resilience, strong sustainability capabilities, and a growing footprint across emerging markets. Partners Ian Ho (Hong Kong- M&A), Erik Wang (Hong Kong- M&A) and Etienne Renaudeau (London/Brussels-antitrust) led the firm’s team in the transaction, which is subject to the satisfaction of customary closing conditions and regulatory approvals.
Skadden has advised the special committee of the board of directors of Smart Share Global and the company on its US$327 million merger with Mobile Charging Merger, a wholly-owned subsidiary of Mobile Charging Group Holdings. As a result of the merger, Smart Share Global has become a wholly-owned subsidiary of Mobile Charging Group Holdings, and will cease to be a publicly traded company. Smart Share Global, or Energy Monster, is a consumer tech company providing mobile device charging service. China co-head and corporate partner Haiping Li led the firm’s team in the transaction.
Trilegal is advising the Lakshmi Mittal family on the Mittal–Poonawalla consortium’s proposed acquisition of the Rajasthan Royals IPL franchise, in a transaction valued at approximately US$1.65 billion. The proposed transaction involves the acquisition of Rajasthan Royals, along with its overseas franchises – Paarl Royals (South Africa) and Barbados Royals (St. Lucia) – by the Lakshmi Mittal family and Adar Poonawalla from a consortium led by Manoj Badale. The Mittal family is the lead member of the consortium, and will acquire approximately 75 percent stake in the franchise, with Adar Poonawalla holding around 18 percent. The remaining 7 percent is expected to be held by certain existing investors, including Manoj Badale. The transaction is expected to be among the highest-valued acquisitions of an Indian Premier League franchise. Partners Nishant Parikh, Arnav Dayal and Mitali Halbe, supported by partners Komal Dani, Himanshu Sinha, Kirti Balasubramanian, Mohit Rohatgi, Kunal Gupta, Aparna Mehra, Jishnu Sanyal and Parvathy Tharamel, are leading the firm’s team multi-disciplinary team in the transaction, which is subject to receipt of customary regulatory approvals, including approvals from the Board of Control for Cricket in India and the Competition Commission of India.
Trilegal has also advised Apollo on its subscription to US$500 million investment-grade rated senior secured privately-placed notes issued by ATSOL Global IFSC, a step-down subsidiary of Adani Energy Solutions, one of India’s largest private-sector power transmission and distribution companies. The proceeds from the notes issuance will be utilised towards the refinancing of existing indebtedness and funding capital expenditure requirements. The transaction was undertaken through an innovative GIFT City-based financing framework, leveraging a global treasury centre structure. This is one of the first transactions to utilise such a structure, and marks an important milestone in the evolution of financing solutions emerging from GIFT City. This transaction further underscores the growing significance of GIFT City as a global financial hub, and highlights the increasing sophistication of cross-border financing structures being implemented through the IFSC ecosystem. Partners Richa Choudhary, Maitreya Rajurkar, Kunaal Shah, Neeraj Menon, Vishrov Mukerjee, Siddharth Ranade and Janmali Manikala led the firm’s multi-disciplinary team in the transaction.
TT&A has advised WestBridge Capital on its subscription to Series F CCPS issued by Spinny, and on its acquisition of shares from existing shareholders of Spinny. The Series F round of investment comprised of additional investment by other existing investors, including Accel, Elevation and Think Capital. Partners Gautam Saha, Amrita Patnaik and Sonam Mathur led the firm’s team in the transaction. Argus Partners advised Spinny, while Samvad Partners advised Fundamentum, one of the sellers in the secondary transaction.
WongPartnership is acting for Seatrium and Seatrium Financial Services on the S$400 million (US$315m) fixed rate notes issuance by Seatrium Financial Services, under its S$3 billion (US$2.36b) multicurrency debt issuance programme. Partner Trevor Chuan is leading the firm’s team in the transaction.
WongPartnership is also acting for United Overseas Bank, as the arranger and dealer, CSCGlobal Capital Markets (Singapore), CSCGlobal Trust (Singapore) and Banque Internationale à Luxembourg, collectively as the trustee and agents, on City Developments’ establishment of a S$2 billion (US$1.58b) multicurrency perpetual securities issuance programme, pursuant to which perpetual securities may be issued from time to time. Partners Trevor Chuan and Ho Soon Keong are leading the firm’s team in the transaction.
