Allen & Gledhill LLP has advised Singapore Petroleum Company Limited (SPC) in relation to the acquisition of over 234.5 million issued shares in the company by PetroChina International (Singapore) Pte Ltd (PC), an indirect wholly-owned subsidiary of PetroChina Company Limited. The shares in SPC were sold by Keppel Oil and Gas Services Pte Ltd. PC has subsequently made a mandatory general cash offer to acquire all the issued shares in SPC, with an offer price of S$6.25 per share, which values SPC at approximately S$3.23 billion (approx US$2.2b) and makes the takeover offer one of the largest in Singapore corporate history. Partners Andrew Lim and Steven Lo were involved. Allen & Overy LLP has acted for the joint-lead managers, Standard Chartered Bank (Thai) Public Company Limited and Bangkok Bank Public Company Limited, in relation to the THB12 billion senior unsecured debenture issued by Bangkok Mass Transit System Public Company Limited (BTS). The largest bond offering in the transportation and logistics sector in Thailand this year, the bonds consist of five groups with interest rates ranging from 4.75 percent per annum for a three-year term to 6.75 percent for a seven-year maturity. Partners Stephen Jaggs and Suparerk Auychai worked on the transaction, from which funds raised will be used to pay BTS’s existing debts. Allens Arthur Robinson has acted for the syndicate banks – Bank of China (Hong Kong), ANZ, Bank of China (Macau Branch) and Nanyang Commercial Bank – in relation to a A$510 million (approx US$439.1m) syndicated loan to Cheung Kong Infrastructure Finance (Australia) Pty Limited (CKI Australia). Guaranteed by its listed parent company Cheung Kong Infrastructure Holdings...

Allen & Gledhill has advised ARA Asset Management (Singapore) Limited, as manager of Fortune Real Estate Investment Trust (Fortune REIT), in relation to the fully underwritten and renounceable one-for-one rights issue of more than 824.8 million new units in Fortune REIT. The rights issues is expected to raise gross proceeds of approximately HK$1.889 billion (approx US$243.7m), of which HK$1.591 billion will be used to partially fund the acquisitions of Metro Town, Carribean Bazzar and Hampton Loft in Hong Kong. The firm is also advising Cheung Kong (Holdings) Limited (CKH), which is the sponsor of Fortune REIT. As part of the transaction, Fortune REIT is acquiring Metro Town from one of CKH’s wholly-owned subsidiaries and a third party. Partners Jerry Koh, Chua Bor Jern and Foong Yuen Ping were involved in advising. Allen & Gledhill has also represented SP AusNet in connection with its non-renounceable pro-rata entitlement offer made to eligible retail security-holders in Singapore. Under the terms of the offer, eligible security-holders can subscribe for new stapled securities offered for issue at a price of S$0.86 cents (approx US$0.59) each. Partners Yeo Wico and Shawn Chen were involved. Finally, Allen & Gledhill LLP has acted for LaSalle Asia Opportunity II S.A.R.L. in respect of its signing of a share purchase agreement for the disposal of a 100 percent stake in Quayside Gem Limited (Quayside). Quayside is the holding company of Merchant Quay Pte Ltd, which owns Swissotel Merchant Court Singapore. Partner Steven Seow led the transaction, which was valued at approximately S$260.04 million (approx US$180.5m). Amarchand & Mangaldas & Suresh A. Shroff & Co has acted for Wockhardt Hospitals...

Allen & Gledhill LLP has advised both CitySpring Infrastructure Management Pte Ltd (CSIM), the manager of CitySpring Infrastructure Trust (CitySpring), and CitySpring’s largest unit holder Temasek Holdings (Private) Limited (Temasek), in relation to CSIM’s one-for-one renounceable rights issue. Fully underwritten by DBS Bank Ltd and UBS AG (acting through its business division, UBS Investment Bank), who have also been appointed as lead managers and joint financial advisers, it is anticipated the rights issue will raise gross proceeds of approximately S$235.2 million (approx US$162.7m). Through its wholly-owned subsidiaries Napier Investments Pte Ltd (Napier), CSIM, and Bartley Investments Pte Ltd (collectively, the Temasek entities), Temasek holds over 27 percent of the total number of issued units in CitySpring. Napier has provided an irrevocable undertaking to CSIM and the underwriters that the Temasek entities will subscribe and pay in full their respective pro rata entitlements under the rights issue. Partners Prawiro Widjaja, Bin Wern Sern, Lim Mei and Lee Kee Yeng were involved. Allen & Gledhill LLP has also acted for YTL Pacific Star REIT Management Limited (YTL), as manager of Starhill Global Real Estate Investment Trust (Starhill), in connection with the fully underwritten one-for-one renounceable rights issue of new units in Starhill. The issuance of more than 963.7 million new units raised gross proceeds of approximately S$337.3 million (approx US$233.3m). DBS Bank Ltd, Merrill Lynch (Singapore) Pte Ltd, and Credit Suisse (Singapore) Limited acted as joint lead managers and underwriters to the issue. Partners Jerry Koh and Chua Bor Jern advised. Allens Arthur Robinson has acted for Healthscope Limited (Healthscope), a leading private healthcare provider, in connection with a capital raising...

Allen & Gledhill LLP has advised Ascendas Funds Management (S) Limited, the manager of Ascendas Real Estate Investment Trust (A-REIT), in respect of the private placement of 185 million new units in A-REIT. Proceeds of approximately S$301.6 million (approx US$208.6m) raised from the placement will be used to fund the development of the high-tech built-to-suit facility for Singapore Telecommunications Limited, to fund potential acquisitions of income-producing properties and development opportunities, and for general corporate purposes. This transaction marks the first Singapore equity fund raising by a REIT in 2009 whereby the issue of new units will not result in a dilution of the net asset value per unit in the REIT. Partners Jerry Koh and Foong Yuen Ping led the firm’s advisory team. Allen & Gledhill LLP has also advised sole bookrunner, lead manager and underwriter Credit Suisse (Singapore) Limited in respect of the proposed issue by CapitaLand Limited of S$1.1 billion (approx US$761m) 2.875 percent convertible bonds due 2016. The bonds, which are convertible into new ordinary shares in the capital of CapitaLand, have been fully placed to institutional and sophisticated investors. Under the terms of the issuance, Credit Suisse has an option to increase the size of the issue by up to S$100 million, which is exercisable by 29 August 2009. Partners Lim Mei and Hilary Low were involved. Allens Arthur Robinson has acted for Amcor Limited (Amcor) in connection with its A$3.1 billion (approx US$2.58b) equity and debt funding package for the proposed acquisition of Alcan Packaging (Alcan) from the Rio Tinto Group. The acquisition is valued at over US$2 billion and involves Amcor acquiring businesses...

Allen & Gledhill LLP has advised Cambridge Industrial Trust Management Limited (CITML), as manager of Cambridge Industrial Trust (CIT), in respect of its private placement of more than 71.1 million new units of CIT. The units have been placed to a group of sophisticated investors which had been identified by CITML and by DMG Securities Pte Ltd, which acted as placement agent for the transaction. The placement will raise gross proceeds of approximately S$28 million (approx US$19.4m), which will be used for asset enhancement initiatives and general working capital purposes. Partners Jerry Koh and Chua Bor Jern led the firm’s advisory team. Allens Arthur Robinson has acted for the ALE Property Group (ALE), Australia’s largest listed freehold owner of pubs, in connection with an equity raising via an accelerated entitlement offer and an institutional placement. Valued at A$105 million (approx US $87.6m), the raising was fully underwritten by Macquarie Capital Advisers and consisted of a A$76 million one-for-two renounceable entitlement and an institutional placement which raised a further A$29 million. Partner Stuart McCulloch led the firm’s team in advising ALE on the transaction, which is one of the company’s initiatives to strengthen its balance sheet. Blake Dawson acted for Macquarie Capital Advisers. Allens Arthur Robinson has also acted for Goodman Group (Goodman), an international integrated property group, in respect of its recent capital raising activities valued at A$1.8 billion (approx US$1.5b). The fully underwritten capital raising was achieved by way of placement, JUMBO entitlement offer and preference security placement. Led by corporate partner Brendan Groves, Clayton Utz advised the underwriters of the raising, Macquarie Capital Advisers and RBS Equity...