The largest recent transactions, all worth at least $500 million, involving targets or acquirors from each of six Asian jurisdictions or regions: Greater China, Japan, Southeast Asia, India, Australia, and South Korea. All deals were announced between March 15, 2012, and September 1, 2012. Deals that were pending at press time are starred( * ). Research by mergermarket and Rebecca Geiger.

CHINA/HONG KONG/TAIWAN

Target: Nexen Inc. *
Counsel: Blake, Cassels & Graydon; Covington & Burling; Norton Rose; Paul, Weiss, Rifkind, Wharton & Garrison
Counsel for Nexen board: Richard A. Shaw Professional Corporation; Burnet, Duckworth & Palmer
Bidder: China National Offshore Oil Corporation (CNOOC Limited)
Counsel: Davis Polk & Wardwell; Herbert Smith Freehills; Stikeman Elliott
Counsel for financial adviser Citigroup Global Markets Inc.: Cleary Gottlieb Steen & Hamilton
Counsel for financial adviser BMO Nesbitt Burns: Morrison & Foerster
Value: $15.1 billion

Target: China Telecom Corporation Limited (certain CDMA network assets) *
Seller: China Telecom Corporation Limited
Bidder: China Telecom Corporation Limited
Counsel: Freshfields Bruckhaus Deringer; Jingtian & Gongcheng; Sullivan & Cromwell
Value: $13.3 billion

Target: Bank of Communications Co. Ltd (16.67% stake)
Counsel: King & Wood Mallesons
Bidders: The Hongkong and Shanghai Banking Corporation (HSBC) Limited; China FAW Group Corporation; Yunnan Hongta Group Co. Ltd; China Life Insurance (Overseas) Company Limited; National Council for Social Security Fund; New China Life Insurance Company Ltd; China National Tobacco Corporation; Ministry of Finance of the People’s Republic of China; Ping An Asset Management Co. Ltd.; China Reinsurance (Group) Corporation; Best Investment Corporation; and Shanghai Haiyan Investment Management Company Limited
Counsel for HSBC: Freshfields Bruckhaus Deringer
Value: $8.9 billion

Target: Alibaba Group Holding Limited (20% stake)
Seller: Yahoo! Inc.
Counsel: Conyers Dill & Pearman; Skadden, Arps, Slate, Meagher & Flom; Weil, Gotshal & Manges
Counsel for Yahoo board: Munger, Tolles & Olson
Counsel for UBS Investment Bank: O’Melveny & Myers
Bidder: Alibaba Group Holding Limited
Counsel: Fangda Partners; Fenwick & West; Freshfields Bruckhaus Deringer; Maples and Calder; Wachtell, Lipton, Rosen & Katz
Counsel for eight underwriters for Alibaba’s $1 billion financing: King & Wood Mallesons; Walkers; White & Case
Counsel for lender China Development Bank: Allen & Overy
Counsel for Alibaba investor Softbank Corp.: Morrison & Foerster
Counsel for Alibaba investors Silver Lake and Temasek Holdings (Private) Limited: Paul, Weiss, Rifkind, Wharton & Garrison
Counsel for Alibaba investors CIC International Ltd., CITIC Capital Holdings Limited, and Boyu Capital: Sullivan & Cromwell
Value: $7.6 billion

Target: Hebei Shougang Qian’an Iron and Steel Co. Ltd *
Counsel: Not available
Seller: Shougang Group
Counsel: Not available
Bidder: Beijing Shougang Construction Group Co. Ltd.
Counsel: Grandway Law Offices
Value: $4.2 billion

JAPAN

Target: Tokyo Electric Power Company Incorporated (75.84% stake)
Counsel: Nagashima Ohno & Tsunematsu
Bidder: Nuclear Damage Compensation Facilitation Corporation
Counsel: Nishimura & Asahi
Counsel for financial adviser Nomura Securities Co. Ltd.: Anderson Mori & Tomotsune
Value: $12.6 billion

Target: Gavilon Group LLC *
Counsel: McGrath North Mullin & Kratz
Sellers: General Atlantic LLC.; Orascom Construction Industries; Soros Strategic Partners LP of Soros Fund Management LLC; and Ospraie Special Opportunities (Offshore) Ltd., The Ospraie Intermediate Fund Ltd., The Ospraie Fund L.P., Ospraie Special Opportunities L.P.; Dwight Anderson; Quantum Strategic Partners Ltd; and other investors
Counsel: Jones Day
Counsel for General Atlantic: Paul, Weiss, Rifkind, Wharton & Garrison
Bidder: Marubeni Corporation
Counsel: Skadden, Arps, Slate, Meagher & Flom
Value: $5.6 billion

Target: Aegis Group plc *
Counsel: Blake, Cassels & Graydon; Moses & Singer; Slaughter and May
Counsel for Aegis shareholder Vincent Bolloré: Sullivan & Cromwell
Bidder: Dentsu Inc.
Counsel: Baker & McKenzie; Linklaters
Counsel for bidder’s financial adviser Morgan Stanley: White & Case
Value: $5 billion

Target: Delhi Mumbai Industrial Corridor Development Corporation Limited (26% stake)
Seller: Life Insurance Corporation of India and India Infrastructure Finance Company Limited
Counsel: Not available
Bidder: Japan Bank for International Cooperation
Counsel: Not available
Value: $4.5 billion

Target: Goodman Global Group Inc. *
Seller: Controlling shareholders, investment funds affiliated with Hellman & Friedman LLC
Counsel: Nagashima Ohno & Tsunematsu; Simpson Thacher & Bartlett
Bidder: Daikin Industries Ltd.
Counsel: Blake, Cassels & Graydon; Davis Polk & Wardwell; Mori Hamada & Matsumoto
Value: $3.7 billion

SOUTHEAST ASIA

Target: PT Bank Danamon Indonesia Tbk (67.37% stake) *
Counsel: Makes & Partners
Seller: Temasek Holdings (Private) Limited
Counsel: Allen & Gledhill; Melli Darsa & Co.
Bidder: DBS Group Holdings Ltd
Counsel: Hadiputranto, Hadinoto & Partners; WongPartnership
Counsel for financial advisers Credit Suisse Group AG and Morgan Stanley: Shook Lin & Bok
Value: $7.3 billion

Target: Progress Energy Resources Corporation *
Counsel: Burnet, Duckworth & Palmer
Bidder: Petronas International Corporation Ltd.
Counsel: Norton Rose
Value: $5.4 billion

Target: Asia Pacific Breweries Limited (58.1% stake) *
Counsel: Allen & Gledhill
Seller: Fraser and Neave Limited
Counsel: Loyens & Loeff; Stamford Law
Bidder: Heineken N.V.
Counsel: Duane Morris & Selvam; Rodyk & Davidson
Value: $4.6 billion

Target: Industrial and Commercial Bank of China Limited (1.3% stake) *
Seller: The Goldman Sachs Group Inc.
Counsel: Linklaters
Bidder: Temasek Holdings (Private) Limited
Counsel: Clifford Chance
Value: $2.3 billion

Target: Fraser and Neave Limited (21.9% stake) *
Sellers: Oversea-Chinese Banking Corporation Limited; Great Eastern Holdings Limited; Lee Rubber Company (Pte) Limited
Counsel: Rajah & Tann
Bidder: Thai Beverage Public Company Limited for International Beverage Holdings Limited
Counsel: WongPartnership
Value: $2.2 billion

INDIA

Target: Delhi Mumbai Industrial Corridor Development Corporation Limited (26% stake)
Counsel: not available
Sellers: Life Insurance Corporation of India and India Infrastructure Finance Company Limited
Counsel: not available
Bidder: Japan Bank for International Cooperation
Counsel: not available
Value: $4.5 billion

Target: JSW Ispat Steel Limited (53.25% stake) *
Counsel: Economic Laws Practice
Seller: Ispat Industries Limited
Counsel: Amarchand & Mangaldas & Suresh A. Shroff & Co.
Bidder: JSW Steel Limited
Counsel: Amarchand & Mangaldas & Suresh A. Shroff & Co.
Value: $1.4 billion

Target: Genpact Limited (30.49% stake) *
Counsel: Amarchand & Mangaldas & Suresh A. Shroff & Co.; Cravath, Swaine & Moore
Sellers: General Atlantic LLC and Oak Hill Capital Partners
Counsel: Nishith Desai Associates; Paul, Weiss, Rifkind, Wharton & Garrison
Bidder: Bain Capital LLC
Counsel: Amarchand & Mangaldas & Suresh A. Shroff & Co.; Ropes & Gray
Value: $1 billion

Target: Mahindra Satyam (formerly Satyam Computer Services Limited) (57.35% stake) *
Counsel: AZB & Partners
Bidder: Tech Mahindra Limited
Counsel: AZB & Partners
Value: $1 billion

Target: Decision Resources Group
Seller: Providence Equity Partners LLC
Counsel: Weil, Gotshal & Manges
Bidder: Piramal Healthcare Limited
Counsel: Amarchand & Mangaldas & Suresh A. Shroff & Co.; Mintz, Levin, Cohn, Ferris, Glovsky and Popeo
Value: $635 million

AUSTRALIA

Target: Open Grid Europe GmbH
Counsel: Glade Michael Wirtz
Seller: E.ON AG
Counsel: Hengeler Mueller
Bidders: Consortium led by Macquarie Infrastructure and Real Assets (MIRA) including: Macquarie European Infrastructure Fund 4; asset management arm of Munich Re and Ergo (MEAG); British Columbia Investment Management Corporation; Abu Dhabi Investment Authority (via its subsidiary Infinity Investments SA)
Counsel: Linklaters
Counsel for bidder financing banks: Clifford Chance
Value: $4.1 billion

Target: Roy Hill Holdings Pty Ltd (30% stake)
Seller: Hancock Prospecting Pty Ltd
Counsel: Latham & Watkins
Bidders: Marubeni Corporation; POSCO; and STX Corporation
Counsel: Herbert Smith Freehills
Value: $3.2 billion

Target: Sydney Desalination Plant Pty Limited
Counsel for Veolia Water (Sydney Desalination Plant Pty Limited operator): Herbert Smith Freehills
Seller: Sydney Water Corporation and New South Wales government
Counsel: King & Wood Mallesons
Bidders: Consortium including Ontario Teachers’ Pension Plan (OTPP) Board, Utilities Trust of Australia, and The Infrastructure Fund
Counsel: Allens
Counsel for OTPP board: Baker & McKenzie; Osler, Hoskin & Harcourt
Counsel for Utilities Trust of Australia: Gilbert + Tobin
Counsel for consortium lenders: Gilbert + Tobin
Value: $2.3 billion

Target: Woodside Petroleum Ltd., Browse LNG Development Project (14.7% stake)
Seller: Woodside Petroleum Ltd.
Counsel: Ashurst
Bidder: Japan Australia LNG (MIMI Browse) Pty Ltd.
Counsel: Allen & Overy
Value: $2.0 billion

Target: Spotless Group Limited
Counsel: Clayton Utz
Bidder: Pacific Equity Partners
Counsel: Gilbert + Tobin; Simpson Grierson
Counsel for consortium of financial advisers including Citigroup Inc.; Deutsche Bank AG; and Investec: King & Wood Mallesons
Value: $1.2 billion

SOUTH KOREA

Target: Roy Hill Holdings Pty Ltd (30% stake)
Seller: Hancock Prospecting Pty Ltd
Counsel: Latham & Watkins
Bidders: Marubeni Corporation; POSCO; STX Corporation
Counsel: Herbert Smith Freehills
Value: $3.2 billion

Target: Hi-mart Co. Ltd. (65.25% stake) *
Sellers: Consortium including Eugene Corporation; HI Consortium Investment Co Ltd; and Seon Jong-koo
Counsel: Lee & Ko
Bidder: Lotte Shopping Co Ltd.
Counsel: Yulchon
Value: $1.1 billion

Target: Kyobo Life Insurance Co. Ltd. (24% stake)
Seller: Daewoo International Corporation
Counsel: Yoon & Yang
Bidders: Government of Singapore Investment Corporation Pte Ltd.; Baring Private Equity Asia; Affinity Equity Partners; and IMM Private Equity Inc.
Counsel: Kim & Chang
Counsel for Affinity Equity Partners: Linklaters
Counsel for IMM Private Equity Inc.: Shin & Kim
Counsel for Baring Private Equity Asia: Weil, Gotshal & Manges
Value: $1.1 billion

Targets: GS Power (50% stake) and GS Caltex Corporation (oil and gas exploration, electric and gas utilities, and alternative energy business units)
Seller: GS Caltex
Counsel: Bae, Kim, & Lee
Bidder: GS Energy Corporation
Counsel: Yulchon
Value: $938 million

Targets Daewoo Engineering and Construction Company Limited (12.28% stake); Kumhobuslines (100% stake); and Seoul Express Bus Terminal Co. Ltd. (38.74% stake)
Seller: Kumho Industrial Co. Ltd. (subsidiary of Kumho Asiana Group)
Counsel: Kim & Chang
Bidder: IBK Securities Co. Ltd. and Kstone Partners, through their KOFC IBKS Kstone Private Equity Fund
Counsel: Hankyul Law Firm
Counsel for IBK Securities Co. Ltd. and Kstone Partners: Yulchon
Value: $819 million

Data: mergermarket and The Asian Lawyer research