Allens Arthur Robinson has advised Illawarra Retirement Trust (IRT), Australia’s largest not-for-profit community-based retirement living and aged care provider, on its acquisition of ‘The Links Seaside’ high rise retirement village and aged care facility in Wollongong from Horizon Living. One of the largest single purchases of a combined retirement village and aged care facility in Australia in recent times, the transaction involved complex compliance requirements under the Aged Care Act 1997(Comth) and the recently amended Retirement Villages Act 1999 (NSW). Partners Mark Stubbings, Tom Story, Alan Maxton, and Ross Stitt led the deal. Allens Arthur Robinson has also acted for world leading mining and resources group Rio Tinto on its non-binding memorandum of understanding (MoU) with Aluminium Corporation of China (Chinalco), one of China’s largest aluminium companies. The MoU covers the development and operation of the Simandou iron ore project in Guinea. Rio Tinto owns 95 percent of the project, with the remaining five percent owned by the International Finance Corporation, the World Bank’s financing arm. Under the MoU, Rio Tinto’s interest in the Simandou project will be held in a new joint venture, in which Chinalco will acquire a 47 percent interest valued at approximately US$1.35 billion on an earn-in basis through sole funding of development expenditure. Once Chinalco has paid its obligation, the Rio Tinto and Chinalco effective interests in the Simandou project will be 50.35 percent and 44.65 percent, respectively. Partner Scott Langford led the advisory team. Baker & McKenzie advised Chinalco, led by Beijing partners Stanley Jia and Andrew Lucas. Allen & Gledhill LLP has advised Jardine Strategic on Singapore law in respect of its...

Allen & Gledhill LLP has acted as Singapore counsel to Deutsche Bank Securities Inc, Barclays Capital Inc, Morgan Stanley & Co Inc and Citigroup Global Markets Inc, as representatives of several underwriters, in respect of Avago Technologies Limited’s (Avago) secondary offering by existing shareholders of 28.75 million ordinary shares of Avago. The offering raised gross proceeds of approximately US$500.5 million. Partners Rhys Goh and Sophie Lim led the advisory team. Allen & Gledhill LLP has also advised in respect of Perennial Real Estate Pte Ltd’s acquisition of Katong Mall and the funding thereof, the latter through the issuance of S$154 million (US$110.4m) junior bonds by PRE 1 Investments Pte Ltd (PRE 1) via a securitisation structure and a S$213 million (US$152.7m) bank facility. Katong Mall, Singapore’s popular four-storey shopping complex, will undergo a major asset enhancement initiative which will be funded by the bank facility. Advising PRE 1 as borrower under the bank facility and on the issue of the junior bonds and preference shares are partners Jerry Koh and Chua Bor Jern. Advising DBS Bank Ltd and United Overseas Bank Limited as the lenders under the bank facility are partners Mark Hudspeth and Chew Mei Choo. Advising British and Malayan Trustees Limited (junior bonds trustee), The Bank of New York Mellon (paying agent) and United Overseas Bank Limited (arranger and lead manager of the junior bonds) are partners Margaret Chin and Magdalene Leong. AZB & Partners is advising Thermax Limited (Thermax) in respect of its proposal to set up a joint venture company in India with Babcock & Wilcox Power Generation Group Inc (B&W). Under the proposal, Thermax...

Allens Arthur Robinson is acting for Royal Dutch Shell in respect of its joint A$3.8 billion (US$3.5m) bid, with oil and gas producer and distributor PetroChina, for Brisbane-based international coal seam gas company Arrow Energy. Shell’s 50:50 joint venture with PetroChina signals China’s arrival as a significant investor in Australia’s emerging coal seam gas industry and a successful deal will substantially enhance the Shell Curtis Island LNG project. Partners Andrew Knox and Chelsey Drake are leading the firm’s advisory team. Allen & Gledhill LLP has advised Glencore International AG (Glencore) in respect of a share purchase agreement entered into by Singfuel Investment Pte Ltd (Singfuel), an indirect wholly-owned subsidiary of Glencore, with the Chandran Family Trust (CFT). Under the agreement Singfuel agreed to purchase from CFT approximately 657 million issued ordinary shares in the capital of Chemoil Energy Limited (Chemoil), which represents approximately 50.81 percent of Chemoil’s issued share capital. Following completion of the acquisition on 26 February 2010, Singfuel announced its intention to make a mandatory unconditional cash offer for all shares in the capital of Chemoil other than those already owned, controlled or agreed to be acquired by Singfuel and parties acting in concert with it. The total value of the deal is approximately US$457 million. Partners Andrew M Lim and Christopher Koh led the firm’s advisory team. Allen & Gledhill LLP has also advised the Singapore University of Technology and Design, Singapore’s new publicly funded university, in relation to its signing of an agreement with Massachusetts Institute of Technology formalising a collaboration between the two institutions. Partners Tham Kok Leong, Kelvin Wong and Jean Wan led...

Allen & Gledhill LLP has advised Singapore Press Holdings Limited on the establishment of a Multicurrency Medium Term Note Programme, under which the company may from time to time issue medium term notes. The aggregate nominal amount of notes outstanding will not at any time exceed S$1 billion (approx US$714.7m), or the equivalent in other currencies. Partner Margaret Chin Siew Hoong led the firm’s team in advising the company, whilst partners Tan Tze Gay and Glenn David Foo Chuen-Shao advised Oversea-Chinese Banking Corporation Limited, as the arranger and dealer, and British and Malayan Trustees Limited, as the trustee, in relation to the transaction. Allen & Gledhill LLP has also advised Singapore Press Holdings Limited in respect of its first issuance – of S$600 million (US$427.8m) 2.81 percent notes due 2015 – under its S$1 billion Multicurrency Medium Term Note Programme. Partner Margaret Chin Siew Hoong again led the transaction, with partners Tan Tze Gay and Glenn David Foo Chuen-Shao advising Oversea-Chinese Banking Corporation Limited as dealer in the transaction. Appleby has acted as BVI counsel to Sino-Forest Corporation (Sino-Forest) in respect of its acquisition of the forestry-owning Mandra Forestry Holdings Limited (Mandra). Listed on the Toronto Stock Exchange, Sino-Forest is a leading commercial forest plantation operator in China, and the acquisition of Mandra strengthens the position of the company by extending their geographical reach eastward and immediately adding 155,600 hectares of trees to their portfolio. The firm also acted as BVI and Cayman counsel to Sino-Forest’s group of companies in the related financing of more than US$187 million in connection with a related notes issue and exchange offer. Under...

Allen & Gledhill LLP has advised PT Chandra Asri in its issuance of US$230 million 12.875 percent Senior Secured Guaranteed Notes due 2015, through its wholly-owned Singapore-incorporated subsidiary Altus Capital Pte Ltd. These high yield bonds are guaranteed by PT Chandra Asri and PT Styrindo Mono Indonesia and have the benefit of a security package. DBS Bank Ltd, Deutsche Bank AG, Singapore Branch and Standard Chartered Bank, Singapore Branch acted as joint bookrunners and joint lead managers. Partners Au Huey Ling, Jafe Ng, Patricia Seet, Sunit Chhabra and Glenn Foo led the firm’s advisory team. Allen & Overy LLP has advised Ek-Chai Distribution System Company Limited (Ek-Chai Distribution) on a THB 4 billion (US$121m) unsubordinated bond issuance guaranteed by its parent company, Tesco PLC. Ek-Chai Distribution operates Tesco Lotus Supercenter in Thailand and is the market leader in the retail business, with over 650 Tesco Lotus stores across Thailand. The bonds, rated “AA+” by Fitch Ratings, were divided into two tranches of 3 year and 5 year maturity. The proceeds will be used to finance the issuer’s business expansion and operations. The Hongkong Shanghai and Banking Corporation Limited was Lead Arranger and TMB Bank Public Company Limited was Debenture Holders’ Representative and Registrar. The firm’s advisory team was led by partner Suparerk Auychai. Allens Arthur Robinson is advising Charter Hall Group (CHG), an Australian property funds management and development company, on its agreed A$108 million (US$96.33m) acquisition of the majority of Macquarie Group Limited’s core real estate management platform. CHG will gain the management rights to two listed and three unlisted funds, and will also acquire investment stakes in...