Allens Arthur Robinson has acted for ALE Property Group (ALE), Australia’s largest listed freehold owner of pubs, in connection with the sale of six hotels via a live simulcast auction in four states. In addition to the people who attended the auction at Melbourne’s Crown Casino, another 170 people participated in auction rooms in Sydney, Brisbane and Adelaide through phone and video link-up. Sydney-based partner Nicholas Cowie led the firm’s team in advising on the sale of the properties, which was valued at more than A$36 million (approx US$33.1m), with team members from the firm and the Adelaide agent, Finlaysons, present at the four auction venues to coordinate the sales in accordance with various jurisdictional requirements. AZB & Partners has advised NGP II Mauritius Company Limited (the fund), an investment fund set up by Nokia in Mauritius for making technology investments in India and elsewhere, in connection with the fund’s US$10 million equity investment into Web18 Holdings Limited (Cayman Islands), the internet arm of India’s leading media conglomerate Television Eighteen India Limited. The investment in Web18, which provides news, information data and analysis in business, finance and general consumer spaces on the internet, was achieved through a subscription of cumulative convertible preference shares. Partner Gautam Saha led the firm’s team. AZB & Partners has also advised the underwriters – JM Financial Consultants Pvt Ltd, JP Morgan India Pvt Ltd, Enam Securities Pvt Ltd, Macquarie Capital Advisers (India) Private Limited and Kotak Mahindra Capital Company Limited – in respect of the proposal by Ambience Ltd to undertake an IPO. Ambience Ltd has already filed the Draft Red Herring Prospectus with...

Allen & Gledhill LLP has acted as Singapore counsel to Suhyup Bank in respect of its issuance of US$300 million 6.375 percent senior notes due 2014. The issuance falls under the bank’s US$1 billion Euro Medium Term Note Programme. Partner Au Huey Ling led the firm’s advisory team. Allen & Gledhill LLP has also advised K-REIT Asia Management Limited (KAM), as manager of K-REIT Asia, in connection with its announcement of a proposed underwritten renounceable one-for-one rights issue of approximately 666.7 million new units in K-REIT Asia. It is anticipated the issuance will raise gross proceeds of approximately S$620 million (approx US$445.2m). Both Keppel Corporation Limited and Keppel Land Limited have provided irrevocable undertakings to KAM and BNP Paribas, Singapore Branch (BNP) to subscribe for their (and their respective wholly-owned subsidiaries’) total provisional allotments of rights units. Led by partners Rachel Eng and Long Chee Shan, WongPartnership LLP acted for BNP as lead manager, underwriter and financial adviser to the issue, with BNP underwriting the remaining balance of the rights units. Partners Jerry Koh and Chua Bor Jern were involved from Allen & Gledhill. Allen & Overy has acted for Terminal KMS de GNL, S. de RL de CV (KMS), a Mexican special purpose subsidiary of the sponsors – Mitsui & Co Ltd, Samsung C&T Corporation and Korea Gas Corporation – in respect of a US$875 million liquefied natural gas (LNG) terminal project located in Mexico. The first major project to be jointly sponsored by Japanese and Korean conglomerates in recent times, the transaction has now reached financial close. Under the project, KMS is constructing an LNG reception, storage,...

Allen & Gledhill LLP is advising Noble Group Limited (NG) and its substantial shareholder, Noble Temple Trading Inc (NTT), in respect of the agreement by the Chinese sovereign wealth fund China Investment Corp (CIC) to acquire 573 million shares in NG. The shares to be acquired include 438 million new shares in the capital of NG, which are valued at over S$925 million (approx US$655.6m), with the remaining shares to be acquired from NTT. Partners Lim Mei, Leonard Ching and Lee Kee Yeng are advising. Baker & McKenzie is advising Regal Real Estate Investment Trust (Regal REIT) on its agreement to buy 75 percent of the total issued share capital of a subsidiary of Paliburg Holdings Limited, which owns a property located in Wanchai, Hong Kong. Under the agreement, Paliburg will undertake an asset enhancement programme on the property, which will be converted to include a 50-room hotel. With an agreed price of HK$468 million (approx US$60.3m), completion of the acquisition is conditional upon the satisfaction of certain conditions which are to be met by a long-stop date of 31 October 2009. Partners Milton Cheng and Debbie Cheung are leading the firm’s advisory team. Baker & McKenzie has also acted as Hong Kong and US counsel to Sinopharm Group Co Ltd (Sinopharm), the largest distributor of pharmaceutical and healthcare products in China, in respect of its global share offering. Net proceeds from the global share offering, which is valued at HK$8.73 billion (US$1.13b) before exercise of the over-allotment option, will be used primarily to expand and improve the coverage of Sinopharm’s distribution network in the eastern, central and northwestern...

Allen & Gledhill LLP is advising Genting Singapore PLC in respect of its launch of a one-for-five rights issue of over 2 billion new shares. One of the largest rights issue announced in Singapore this year, the transaction is expected to raise gross proceeds of up to S$1.63 billion (approx US$1.15b) and be completed in October 2009. The issue involves nine financial institutions acting as joint financial advisers, joint lead managers and joint lead underwriters. Partners Tan Tze Gay, Bin Wern Sern and Wong Sook Ping are advising. Allen & Gledhill LLP is also advising Nine Dragons Paper (Holdings) Limited (Nine Dragons), which had previously issued US$300 million 7.875 percent Senior Notes due 2013 which are listed on the Singapore Exchange Securities Trading Limited, in respect of its second tender offer for the notes. Having commenced a tender offer in February this year, with approximately US$165 million of the principal amount of the notes validly tendered, this second tender offer has resulted in valid tenders of approximately US$71 million of the principal amount. Partner Tan Tze Gay is leading the firm’s advisory team. Additionally, Allen & Gledhill LLP is advising SMRT Capital Pte Ltd, a wholly-owned subsidiary of SMRT Corporation Ltd (SMRT Corp), as the issuer of a S$1 billion (approx US$707.5m) multicurrency guaranteed medium term note programme. Partner Margaret Chin is leading the team advising on the programme, which is guaranteed by SMRT Corp. Finally, Allen & Gledhill LLP is advising DBS Bank Ltd, as the arranger, and The Bank of New York Mellon, as Trustee, in connection with the establishment of a S$1 billion (approx US$707.5m) multicurrency...

ABNR has represented Credit Suisse as underwriter of PT Gajah Tunggal Tbk and its subsidiary GT 2005 Bonds BV, in connection with the successful completion of an exchange offer and consent solicitation of outstanding Guaranteed Secured Bonds. Approval has been obtained from bondholders to exchange all the outstanding bonds due 2010 for approximately US$435 million in guaranteed callable step-up bonds of the issuer due 2014. The firm also represented The Hongkong and Shanghai Banking Corporation (HSBC) as the security agent on this deal. Partners Ferry P. Madian and Chandrawati Dewi advised Credit Suisse whilst partner Zacky Z. Husein led the team in advising HSBC. Allen & Gledhill LLP has advised Indiabulls Property Management Trustee Pte Ltd, as trustee-manager of Indiabulls Properties Investment Trust (IPIT), in respect of the proposed underwritten 53-for-100 renounceable rights issue of 1.25 billion new units in IPIT. The issue is expected to raise gross proceeds of approximately S$200 million (approx US$141.8m). Partners Jerry Koh, Foong Yuen Ping and Chua Bor Jern were involved. Allen & Gledhill LLP has also advised FSL Trust Management Pte Ltd (FSL), as trustee-manager of First Ship Lease Trust (FSL Trust), in respect of the placement of 80 million new units in FSL Trust. The placement has raised net proceeds of up to S$40.9 million (approx US$29m). This is the first placement of new units in a business trust involving the declaration of a stub distribution. Partner Leonard Ching led the firm’s advisory team. Allen & Gledhill LLP has acted as Singaporean counsel to PSA International Pte Ltd (PSAI) in respect of its issuance of US$500 million 4.625 percent notes due...