Allens Arthur Robinson is acting for Conquest Mining Limited (Conquest) in respect of its scrip and cash off-market takeover bid for gold producer North Queensland Metals Limited. Conquest’s long-term goal is to create a genuine mid-tier gold producer with significant production scale and upside, and the offer is the first step on its path to realising its goal through organic growth and future acquisitions. Partner Guy Alexander is leading the firm’s advisory team. Akin Gump has advised Bridas Corporation (Bridas) – Argentina’s second-largest oil producer – in respect of the formation of a 50-50 joint venture with China’s state-owned energy company CNOOC. The transaction involves the purchase by CNOOC of half of Bridas for approximately US$3.1 billion. The transaction is conditional on certain governmental approvals in the PRC and is expected to be completed in the first half of 2010. Partner James C Langdon Jr led the firm’s advisory team. Baker & McKenzie advised CNOOC. Blake Dawson has advised ExxonMobil in respect of the sale of almost 300 of its service station assets to 7-Eleven Australia (7-Eleven). The transaction is expected to be completed before the end of the year. Initially, the assets were proposed to be sold to Caltex but the Australian Competition and Consumer Commission opposed the sale and agreements relating to that proposed transaction were terminated in April. The deal positions 7-Eleven as the largest independent fuel retailer in Australia and has created a new business opportunity with an expected annual turnover of more than A$2.8 billion (US$2.3b). Peter Stirling led the firm’s advisory team, whilst ExxonMobil was also advised by Middletons. Minter Ellison’s team, led...

Allen & Gledhill LLP has advised Standard Chartered Bank (the arranger and the dealer) and British and Malayan Trustees Limited (the trustee) in respect of the issuance by SBS Transit Ltd (SBS) of S$250 million (US$177m) multi-currency medium term note programme, under which SBS may from time to time issue notes not exceeding S$250 million or the equivalent in other currencies. Partner Margaret Chin led the firm’s advisory team. Allen & Gledhill LLP has also acted as Singapore counsel to Prudential plc (Prudential) in respect of the listing of its shares on the SGX-ST. Prudential, which currently has a dual primary listing on both the London Stock Exchange and the HKSE and a secondary listing on the SGX-ST, had a market capitalisation of approximately £13.4 billion (US$19.7b) upon admission to the HKSE and the SGX-ST. Partner Tan Tze Gay led the transaction. In addition, Allen & Gledhill LLP has advised Fraser & Neave Holdings Bhd in respect of the divestment of its entire equity interest in Malaya Glass Products Sdn Bhd to Berli Jucker Public Company Limited and ACI International Pty Ltd (a wholly-owned subsidiary of Owens-Illinois Inc), for a total cash consideration of US$221.7 million. Together with the settlement of intercompany loans, the total amount of cash proceeds is US$259.6 million. Partner Oh Hsiu Hau led the transaction. Finally, Allen & Gledhill LLP has acted as Singapore counsel to Bakrie Telecom Pte Ltd, a wholly-owned Singapore-incorporated subsidiary of PT Bakrie Telecom Tbk (Bakrie Telecom), in respect of its issuance of US$250 million 11.5 percent guaranteed senior notes due 2015. The high yield bonds are guaranteed by Bakrie Telecom,...

Clifford Chance has advised Qatar Telecom (Qtel) QSC in respect of a new US$2 billion revolving facility agreement which is being used to refinance Qtel’s existing forward start facility and for general corporate purposes. The firm’s advisory team was led by Dubai partner Peter Avery. Clifford Chance and Al-Jadaan & Partners have advised the sponsors, Saudi Tabreed, in respect of the SAR 1.84 billion (US$491m) BOO / BOT 27,000 RT District Cooling System project for Saudi Aramco’s office in Dhahran, Saudi Arabia. The project is being financed by Banque Saudi Fransi and is the first of its kind in Saudi Arabia to be financed on a limited recourse basis. Following a bid process, Saudi Aramco selected Saudi Tabreed to develop the project, which represents the first application of a fixed and variable component payment structure to a district cooling project and is the first BOO or BOT based central cooling project to be awarded in the Middle East. The advisory team was led by partners Richard Parris and Mohamed Hamra-Krouha. Davis Polk & Wardwell LLP has advised Renhe Commercial Holdings Company Limited (Renhe) in respect of its US$300 million Rule 144A/Reg S offering of its 11.75 percent senior notes due 2015. BOCI Asia Limited, JP Morgan Securities Ltd, Merrill Lynch International and UBS AG acted as initial purchasers for the offering. Renhe is a PRC-based underground shopping centre operator and developer that focuses on wholesale and retail sales of apparel and accessories in China. The firm’s corporate team included partners William F Barron and Show-Mao Chen. Renhe was advised by Jingtian & Gongcheng as to PRC law, by Conyers...

AZB & Partners has advised Kalpataru Power Transmission Limited in respect of its issuance of approximately 4 million equity shares. At a price of approximately INR 1,075 per equity share, the issuance, which was completed on 10 May 2010, aggregates approximately INR4.5 billion (US$100m). Partner Shameek Chaudhuri led the transaction. In addition, AZB & Partners has advised EID–Parry (India) Limited in respect of its acquisition of approximately 65 percent of the capital of GMR Industries Limited (GMRI). The acquisition was made both by way of a negotiated sale with GMR Holding Private Limited, GMRI’s selling promoter, and following an open offer to the public shareholders of GMRI. The transaction was signed and announced on 25 April 2010 and is yet to be completed. The deal value is approximately INR5.6 billion (US$124m). Partner Srinath Dasari led the transaction. Further, AZB & Partners has also advised the New York Stock Exchange (NYSE) in respect of its agreement to transfer a 5 percent stake in the National Stock Exchange of India Limited (NSE) to Aranda Investments, a Temasek investment entity. Pursuant to the stake sale, NYSE will undertake a full exit from its 2007 investment in the NSE. The deal, which was completed on 3 May 2010, was valued at approximately INR8.2 million (US$175m). Partner Darshika Kothari led the transaction. Finally, AZB & Partners is advising Kohlberg Kravis & Roberts & Co LP, through an affiliate SPV, in respect of its proposed investment to acquire equity shares and fully convertible debentures issued by Avnija Properties Limited (APL), a 100 percent subsidiary of Dalmia Cement (Bharat) Limited (DCL). DCL is currently reorganizing and...

Allen & Gledhill LLP has acted as Singapore counsel to PSA Corporation Limited (PSA), DBS Bank Ltd as the lead manager and the paying agent, and DBS Trustee Limited as the trustee, in respect of the issuance by PSA of its S$400 million (US$290m) fixed rate notes due 2020. Partners Tan Tze Gay and Margaret Chin led the firm’s advisory team. Allens Arthur Robinson has acted for New Zealand-owned Meridian Energy Ltd (Meridian) in respect of its acquisition of South Australia’s Mt Millar wind farm from ASX-listed entity Transfield Services Infrastructure Fund. Completion of the transaction is expected by 31 May 2010. The transaction, valued at A$191 million (US$171m), marks an important step for Meridian in strengthening its position in the Australasian renewables energy market. Partner Anna Collyer led the firm’s advisory team. Allens Arthur Robinson has also acted for Catalyst Investment Managers Pty Ltd (Catalyst), a leading independent firm in the Australasian private equity market, in respect of its acquisition of Actrol Parts, a market leading wholesaler and distributor of refrigeration and air-conditioning systems and parts. The transaction is the first leveraged buyout of its kind in Australia since Archer Capital’s acquisition of MYOB in early 2009. Partners Steve Clifford and Richard Gordon led the firm’s advisory team. Freehills advised the vendor whilst Corrs Chambers Westgarth advised the relevant banks to the transaction, Westpac and Commonwealth Bank of Australia. Baker & McKenzie has acted for Castlemaine Goldfields Limited (CGL) in respect of the acquisition of the Ballarat Gold Project and the associated A$32 million (US$28.7m) capital raising. The acquisition settled on 7 May 2010 following its announcement on...