Allen & Gledhill has acted as transaction counsel and issuer counsel for the trustee-manager of Hutchison Port Holdings Trust (HPH Trust) in respect of HPH Trust’s IPO which raised gross proceeds of approximately US$5.45 billion. The offering also includes a preferential offer of units in Hong Kong to qualifying shareholders of Hutchison Whampoa Ltd and a public offer without listing in Japan. Partner Jerry Koh led the transaction. Allen & Gledhill has also advised Temasek Holdings (Private) Ltd (Temasek Holdings) and Temasek Financial (II) Private Ltd (Temasek Financial) in respect of Temasek Financial’s establishment of a US$5 billion Euro-commercial paper programme which is unconditionally and irrevocably guaranteed by Temasek Holdings. Partners Yeo Wico and Sunit Chhabra led the transaction. Allens Arthur Robinson has advised Bush Heritage Australia (BHA), a non-profit organisation dedicated to protecting Australia’s wildlife, in respect of the acquisition of two parcels of land at Liffey, 47km south-west of Launceston, Tasmania. A long-standing pro bono client of the firm, BHA was founded by Greens leader Bob Brown 20 years ago. The land at Liffey, measuring 14ha, includes the property known as ‘Oura, Oura’, which was Brown’s personal retreat for almost 40 years and is also home to native animals including platypus, falcons, quolls and bandicoots. Brown donated the property to BHA so that it can be preserved for the enjoyment of future generations. Partners Mark Stubbings and Adrian Chek led the transaction. Amarchand & Mangaldas has advised JP Morgan Advisors Private Ltd, the Indian non-banking financial company arm of JP Morgan, in respect of real estate financing provided to Parsvnath Landmark Developers Private Ltd, a subsidiary of...

Allen & Gledhill has advised Noble Group Ltd in respect of the placement of approximately 306.5 million ordinary shares in its capital which raised net proceeds of approximately S$625 million (US$487.5m). The placement agents were Goldman Sachs (Singapore) Pte and The Hongkong and Shanghai Banking Corporation Ltd Singapore Branch. Partner Leonard Ching led the transaction. Allen & Gledhill has also advised Deutsche Bank AG Singapore Branch as the financial adviser of Cathay Asset Management Company Ltd (Cathay Asset) in respect of Cathay Asset and a consortium of acquirers’ share purchase agreement for the acquisition of approximately 422 million ordinary shares in the capital of Jaya Holdings Ltd (Jaya) held by Nautical Offshore Services. The acquisition represents approximately 54.70 percent of Jaya’s issued share capital and is valued at approximately S$202.6 million (US$158m). Pursuant to the initial acquisition, Cathay Asset and the consortium made a mandatory unconditional cash offer for all the ordinary shares in the capital of Jaya, excluding those shares owned, controlled, or agreed to be acquired by Cathay Asset and other parties acting in concert with it. The offer is valued at approximately S$167.8 million (US$131m). Partner Christopher Koh led the transaction. Allen & Overy has acted for Wanhua Industrial Group (Wanhua), a majority owned entity of the Yantai municipal government of the PRC, in respect of its acquisition of Hungarian chemicals company BorsodChem, creating the world’s third largest isocyanate manufacturer. BorsodChem, previously owned by Permira, completed a restructuring of its senior and mezzanine debts in June 2010. Under the restructuring plan, Wanhua acquired a 38 percent stake in BorsodChem and agreed to provide working capital facility...

Allen & Gledhill has advised DBS Bank Ltd (as the arranger, the issuing and paying agent and the agent bank), Boardroom Corporate & Advisory Services Pte Ltd and DBS Trustee Ltd in respect of the establishment by HSBC Institutional Trust Services (Singapore) Ltd (HSBC Trust) of a S$2.5 billion (US$1.97b) retail bond programme. HSBC Trust is the trustee of CapitaMall Trust (CMT) while CMT is managed by CapitaMall Trust Management Ltd (CTML). CTML also announced an offer of up to S$200 million (US$158m) in principal amount of bonds due 2013. Partners Margaret Chin, Jerry Koh, Long Pee Hua and Teh Hoe Yue led the transaction. AZB & Partners has advised BPTP Ltd and its subsidiary, Rose Infracon Private Ltd, in respect of the acquisition of the entire shareholding of DD Housing Ltd. Partner Hardeep Sachdeva led the transaction which was completed in February 2011. AZB & Partners has also advised Specialty Minerals Inc in respect of its acquisition, through its subsidiary MTI Holding Singapore Pte Ltd, of a 74 percent stake in Prisure Promotion and Tradings Ltd. Partner Gautam Saha led the transaction which was signed on 1 February 2011 and is yet to be completed. Clayton Utz is advising AMP Ltd in respect of its A$14.6 billion (US$14.76b) merger with AXA Asia Pacific Holdings Ltd (AXA APH), which has now received FIRB and court approval. The deal involves the sale of AXA’s Australian business to AMP and AXA’s Asian businesses to AXA SA. The firm’s team was led by partners Rod Halstead and Jonathan Algar. De Brauw Blackstone Westbroek has acted as Dutch counsel for the Chinese company...

Allen & Gledhill has acted as Singapore law counsel to Shangri-La Asia Ltd in respect of its rights issue to its shareholders, raising approximately HK$4.69 billion (US$602m). The proceeds of the rights issue will be used to settle Shangri-La’s bank loans and fund its ongoing hotel expansion programme, primarily in the People’s Republic of China. Partners Lim Mei and Hilary Low led the transaction. Allen & Gledhill has also advised STATS ChipPAC Ltd in respect of its issue of US$200 million aggregate principal amount of 5.375 percent senior notes due 2016. The proceeds from the issue of the notes, together with cash in hand, were used to prepay in full the US$234.5 million outstanding under the company’s US$360 million senior term loan facility. Deutsche Bank AG Singapore Branch acted as the initial purchaser for the offer. Partners Tan Tze Gay and Bernie Lee led the transaction. Allens Arthur Robinson has advised the New South Wales Government’s primary transport delivery agency, Transport Construction Authority, in respect of Phase Two of the construction of the A$2 billion (US$2.03b) South West Rail Link project, which includes a major upgrade of Glenfield station and a new twin-track passenger rail line from Glenfield to Leppington via Edmondson Park. Phase Two of the project involves the construction of about 11 kilometres of twin track electrified rail line from Glenfield to Leppington, two new passenger stations at Leppington and Edmondson Park, and a train stabling yard at Rossmore. Work on the project will commence early this year and is expected to be completed in 2015. Partner Leighton O’Brien led the transaction. AZB & Partners has advised...

Allen & Gledhill has advised Sino-Singapore Tianjin Eco-City Investment and Development Co Ltd (SSTEC) in respect of its agreement with Sunway City Bhd (SunCity) to form a 40:60 JV to co-develop an eco-themed project in Tianjin Binhai New Area in China with an expected total investment value of about RMB5 billion (US$760m). SunCity has also nominated its wholly owned Singapore subsidiary Sunway City (S’pore) Pte Ltd to enter into an equity JV contract with SSTEC to start phase 1 of the JV development. Partners Penny Goh and Tan Boon Wah led the transaction. Allen & Gledhill has also advised the same client, Sino-Singapore Tianjin Eco-City Investment and Development Co Ltd (SSTEC) in respect of its equity JV agreement with a subsidiary of Ayala Land Inc (Ayala Land), one of the Philippines’ top integrated city develop, to develop Ayala Land’s flagship project in China, at an estimated cost of RMB1.5 billion (US$228m) when completed in 2013. The partners have also signed a memorandum of understanding to explore co-development opportunities in the eco central business district. Partners Penny Goh and Tan Boon Wah also led this transaction. AZB & Partners is advising Reliance Industries Ltd in respect of the acquisition by BP of a 30 per cent stake in 23 oil and gas production sharing contracts that Reliance operates in India, including the producing KG D6 block. The transaction, valued at approximately US$7.2 billion with future performance payments of up to approximately US$1.8 billion, was signed on 21 February 2011. Baker & McKenzie has advised Kohlberg Kravis Roberts & Co (KKR) in respect of the sale of its stake in Seven...