Herbert Smith Freehills is advising Thai state-run PTT Exploration and Production Pcl. on a $1 billion purchase of Hess Corp.’s energy assets in the country. PTTEP is paying cash for a 15 percent interest in an offshore natural gas project in the Gulf of Thailand, as well as a 35 percent stake in an onshore gas field in the northeast of the country. The deal for the offshore assets, which comprise two blocks, closed on Tuesday, while the onshore transaction is expected to close next month. Seoul managing partner Lewis McDonald led the Herbert Smith Freehills team acting for PTTEP. Walkers served as the company’s Cayman Islands counsel. Freshfields Bruckhaus Deringer Singapore partner Gavin MacLaren is acting for Hess, with Weerawong, Chinnavat & Peangpanor and Maples and Calder acting as Thai and Cayman Islands counsel, respectively. [Read full story]
Hogan Lovells Hong Kong partner Tim Fletcher has advised Dublin-based generic pharmaceutical company Actavis Plc. on its $100 million acquisition of Silom Medical Co. Ltd., Thailand’s largest generic drug company. Clifford Chance Bangkok partner Andrew Matthews acted for Silom Medical.
Amarchand & Mangaldas & Suresh A. Shroff & Co. advised state-run Oil India Ltd. on a $1 billion notes issue on the Singapore Exchange. Mumbai partner Niloufer Lam led the Amarchand team advising Oil India on the sale. Herbert Smith Freehills Singapore partner Philip Lee and Hong Kong partner Kyle Wombolt acted for joint lead managers Standard Chartered Bank, Royal Bank of Scotland Plc., Citigroup Global Markets Ltd., Deutsche Bank AG and Hongkong and Shanghai Banking Corp. Ltd. [Read full story]
Linklaters and Allen & Gledhill have advised Oversea-Chinese Banking Corp. Ltd. on a $1 billion notes issue. The Singaporean bank sold the ten-year bonds in order to raise money for general corporate purposes. The notes also serve as reserve capital under new regulatory rules set by the Monetary Authority of Singapore. Linklaters Singapore partners Kevin Wong and David Ludwick acted for OCBC, with Allen & Gledhill partners Glenn Foo and Sunit Chhabra serving as local counsel. Sidley Austin Singapore partner Prabhat Mehta represented underwriters Hongkong and Shanghai Banking Corp. Ltd., J.P. Morgan (S.E.A.) Ltd., Merrill Lynch (Singapore) Pte. Ltd. and OCBC Bank. [Read full story]
Clifford Chance Hong Kong partner Connie Heng advised a subsidiary of state-owned Aluminum Corp. of China Ltd. on a $400 million bond issue, which was done to raise cash for general corporate purposes. Maples and Calder Hong Kong partner Christine Chang served as British Virgin Islands counsel to the subsidiary, Chalco Hong Kong Investment Co. Ltd. Linklaters acted for joint global coordinators Australia and New Zealand Banking Group Ltd., Hongkong and Shanghai Banking Corp. Ltd. and UBS AG.
Cleary Gottlieb Steen & Hamilton Beijing partners Ling Huang and Clay Johnson are advising a consortium of buyers on a proposed $332 million deal to take U.S.–listed Chinese information technology services provider iSoftStone Holdings Ltd. private. The group is led by iSoftStone chairman Tianwen Liu and includes other company officers as well as funds managed by China Everbright Investment Management Ltd. The company’s board of directors has recommended that shareholders approve the deal. Zhong Lun Law Firm and Conyers Dill & Pearman are serving as Chinese and Cayman Islands legal advisers to the consortium, respectively. O’Melveny & Myers San Francisco partner Kurt Berney is advising iSoftStone on the deal, with Han Kun Law Offices and Maples and Calder acting as Chinese and Cayman Islands counsel, respectively. Kirkland & Ellis Hong Kong partners David Zhang, Jesse Sheley and Stephanie Tang are advising the independent committee of the board of directors that has recommended the deal.
DLA Piper Sydney partner Les Kolta has advised German property investor Union Investment Real Estate GmbH on its $186 million purchase of Flight Centre Travel Group Headquarter Development, a 16-story mixed-use office and retail building in Brisbane that is part of the Southpoint development in that city. Allens Brisbane partner Paul Newman acted for Anthony John Group, the seller and developer behind Southpoint.
Skadden, Arps, Slate, Meagher & Flom is acting for Leju Holdings Ltd., which operates real estate websites in China, on its $100 million initial public offering on the New York Stock Exchange. The company said it was raising the money in order to boost its information technology infrastructure, launch new products and services and expand its geographical footprint. Hong Kong partner Julie Gao and Beijing partner Michael Gisser advised Leju, with Fangda Partners serving as Chinese counsel. Maples and Calder Hong Kong partner Mark Western is advising on Cayman Islands and British Virgin Islands law. O’Melveny & Myers Beijing partners Ke Geng and David Roberts and Hong Kong partner David Johnson acted for joint bookrunners Credit Suisse Securities (USA) and J.P. Morgan Securities. Haiwen & Partners is serving as the banks’ Chinese counsel.
Linklaters Shanghai consultant Richard Gu advised Singapore-based Global Logistic Properties on its purchase of a Beijing warehouse park for $35.6 million. Paul Hastings Shanghai partner Wayne Ma represented seller Forterra Trust, an investment company also based in Singapore.
Allens Sydney partner Guy Alexander is representing Bank of Queensland Ltd. on its $409 million proposed acquisition of Investec Bank Australia Ltd.’s finance and leasing business. London-based Investec has been seeking to exit a business that has been dragging on its operations in other markets, particularly the United Kingdom and South Africa. The deal offers Bank of Queensland a larger footprint in Australia, as well as a $2.2 billion loan portfolio and $2.5 billion in deposits. King & Wood Mallesons Sydney partners Susan Hilliard and Scott Heezen and Perth partner Nigel Hunt are acting for Investec.
Willkie Farr & Gallagher has acted for U.S. private equity company Insight Venture Partners on a $250 million investment in Australian email marketing company Campaign Monitor. New York partners Gordon Caplan, Rosalind Fahey Kruse, Christopher Peters, William Dye and Jeffrey Goldfarb advised Insight Venture Partners. Johnson Winter & Slattery Sydney partners James Rozsa and Jim Hunwick served as Australian counsel. Herbert Smith Freehills Sydney partner Peter Dunne advised Campaign Monitor.
Cooley San Diego partner Tom Coll has advised Novo A/S, the investment arm of Danish pharmaceuticals company Novo Nordisk A/S, and U.S. venture capital company Canaan Partners on a $45 million financing round for Australia’s Spinifex Pharmaceuticals Pty. Ltd. Spinifex, which has redomiciled to Delaware as a part of the financing, will use the money to further develop a drug for chronic pain treatment. Johnson Winter & Slattery Sydney partner James Rozsa served as Australian counsel to Novo. Goodwin Procter San Francisco partner Maggie Wong and Menlo Park partner Anthony McCusker are acting for Spinifex. Australian intellectual property firm Solubility Pty. Ltd. is also advising Spinifex.
Correction, 4/25/14: As a result of an editing mistake, the abstract for a previous version of this story mistakenly named Linklaters as the second firm on PTTEP’s acquisition of Hess Oil assets in Thailand, along with Herbert Smith Freehills. In fact, it was Freshfields Bruckhaus Deringer. We regret the error.