Davis Polk & Wardwell has advised Thai telecom company True Corp. Pcl. on the establishment and $1.8 billion initial public offering of a new infrastructure fund.

True Corp. is a subsidiary of Thai conglomerate Charoen Pokhphand Group Co. Ltd., which is controlled by billionaire Dhanin Chearavanont. The company sold 6,000 telecommunication towers, a fiber optic cable grid and a broadband system in Thailand to the newly created True Telecommunications Growth Infrastructure Fund. The money raised in the IPO was used by the fund to pay True Corp. for the assets.

Hong Kong partner William Barron, London partner John Paton and New York partner Daniel Budofsky led the Davis Polk team serving as international counsel to True Corp. on the asset spinoff. They also advised True Corp., the fund and management company SCB Asset Management Co. on the IPO.

Baker & McKenzie Bangkok partners Thinawat Bukhamana and Chaveewan Likhitwattanachai were Thai counsel to True Corp. on the spinoff and True Corp., the fund and the management company on the stock offering.*

Linklaters Bangkok partner Wilailuk Okanurak advised joint global coordinators Credit Suisse (Singapore) Ltd. and Siam Commercial Bank Pcl. on U.S. and Thai law matters. Linklaters also advised the fund and the management company on the spinoff.

Emaiil: tbrennan@alm.com.

*Updated, 1/3/14: This story has been udpated to include the Baker & McKenzie partners involved in this transaction.