Morrison & Foerster is advising Singapore’s Global Logistic Properties Ltd. on its proposed $1.4 billion acquisition of logistics facilities in Brazil. GLP is purchasing 34 warehouses, totaling 13 million square feet and located mainly in Rio de Janeiro and São Paulo, from commercial real estate group BR Properties SA. The deal, which is subject to due diligence as well as regulatory and GLP board approval, is expected to close by Aug. 31. Singapore partner Eric Piesner is acting for GLP. KLA-Koury Lopes Advogados is serving as Brazilian counsel. Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados is representing BR Properties. [Read full story]
Drew & Napier has represented Singapore-based chocolate maker Petra Foods Ltd. in the establishment of a $500 million multicurrency medium-term note program. Petra said the money would be used for general corporate purposes. Allen & Gledhill partner Margaret Chin advised DBS Bank Ltd. as arranger of the notes, and DBS Trustee Ltd. as trustee for holders of the notes. Allen & Gledhill partner Sunit Chhabra advised on tax issues.
Allen & Gledhill partners Margaret Chin, Jerry Koh, The Hoe Yue and Sunit Chhabra have advised CapitaMall Trust Management Ltd. on a $313.7 million bond issue. Allen & Overy advised underwriters DBS Bank Ltd., Oversea-Chinese Banking Corp. Ltd. and United Overseas Bank Ltd. Rodyk & Davidson partner Nicholas Chong acted for HSBC Institutional Trust Services (Singapore) Ltd. as trustee on the issue.
Latham & Watkins Singapore partner Chei Liang Sin and New York partner Adel Aslani-Far is acting for Singapore Exchange–listed precision engineering company Amtek Engineering Ltd. on its proposed $210 million acquisition of College Point, N.Y.–based Interplex Industries Inc. The target company makes precision parts for the automotive, medical and industrial sectors, among others. The deal is expected to close in the second half of the year. Golenbock Eiseman Assor Bell & Peskoe is advising Interplex on corporate matters related to the takeover. Cuddy & Feder is handling real estate and environmental matters.
Allen & Overy is representing British insurer Hiscox Ltd. on its proposed $55 million acquisition of Asia-based online insurance retailer DirectAsia.com from Singapore investment company Whittington Group Pte Ltd. The website sells auto, travel, health and life insurance to consumers in Singapore, Hong Kong and Thailand. The deal is subject to regulatory approval. Hong Kong partner Chris Moore is leading the Allen & Overy team, with help from London partner Richard Cranfield. Clyde & Co Clasis Singapore partner Ian Stewart is acting for Whittington Group.
Clifford Chance has advised Chinese state-run auction house Poly Culture Group Corp. Ltd. on its $331 million initial public offering on the Hong Kong Stock Exchange. The company will use the bulk of the proceeds to further expand its businesses, which include cinema and theatre management along with auctions. Beijing partners Tim Wang and Jean Yu and Shanghai partner Jean Thio led the Clifford Chance team advising the issuer. Beijing Junzhi Law Firm served as Chinese counsel. Paul Hastings Hong Kong partners Raymond Li, Steven Winegar and Zhaoyu Ren advised sole sponsor CITIC Securities on U.S. law. Baker & McKenzie Beijing partner Jackie Lo and Hong Kong partner Tracy Lam acted as Hong Kong counsel to CITIC, while Jia Yuan Law Offices advised on Chinese law.
Milbank, Tweed, Hadley & McCloy Hong Kong partner Dieter Yih has advised Chinese theme park operator Haichang Holdings Ltd. on a $316 million initial public offering in Hong Kong. According to a regulatory filing, the Dalian-based company will use the proceeds to build two theme parks in Shanghai and Sanya. Jun He Law Offices advised the issuer on Chinese law with Maples and Calder as Cayman Islands counsel. Clifford Chance advised sponsors BNP Paribas Securities (Asia) Ltd. and Merrill Lynch Far East Ltd. with Fangda Partners as Chinese counsel. Maples and Calder Hong Kong partners John Trehey and Derrick Kan advised Haichang Holdings on Cayman Islands law.*
Davis Polk & Wardwell and Skadden, Arps, Slate, Meagher & Flom have the lead roles in Chinese internet giant Tencent Holdings Ltd.’s $214.7 million investment in online retailer JD.com Inc. Tencent will take a 15 percent stake in JD.com, which operates Jingdong Mall, China’s second-largest online shopping site after Alibaba Group Holding’s Taobao.com. A strategic cooperation agreement between Tencent and JD.com will grant the latter ownership of Tencent’s e-commerce units. Tencent will also integrate its popular messaging app WeChat with JD.com, a move widely seen as a large step forward in challenging Alibaba’s dominance in China’s online retail market. Davis Polk Hong Kong partner Kirtee Kapoor advised Tencent, with Zhong Lun Law Firm Shanghai partner Anthony Zhao and Beijing partner Scott Yu acting as Chinese counsel. Skadden Hong Kong partners Julie Gao and Jonathan Stone advised JD.com, with Han Kun Law Firm Beijing partner Charles Li advising on Chinese law. [Read full story]
Davis Polk & Wardwell Hong Kong partner Paul Chow is acting for Chinese online gaming company Forgame Holdings Ltd. on a $94.2 million investment in fellow game maker Magic Feature Inc., which makes Tower of Saviors, a popular game in China. The deal will give Forgame a 20 percent stake in Magic Feature. Dentons Hong Kong partner Gordon Ng is representing Magic Feature.
Rajah & Tann Singapore partner Danny Lim is advising Tianjin-based dumpling restaurant chain Goubuli Group Co. Ltd. on its $16.6 million investment in Singapore directory publisher Global Yellow Pages Ltd. The latter company is selling shares in itself in order to help fund its proposed acquisition of Australian coffee chain Gloria Jean’s. David Lim & Partners is representing Global Yellow Pages.
Kuala Lumpur law firm Mah-Kamariyah & Philip Koh has advised financing company Malaysia Building Society Bhd. on a recent $427.5 million renounceable rights issue on the main board of the country’s stock exchange. Most of the cash raised will be used to expand MBSB’s financing business. Clifford Chance Singapore partner Raymond Tong acted for joint global coordinator Deutsche Bank AG, with Adnan Sundra Low serving as the bank’s Malaysian counsel.
Clifford Chance Singapore partner Raymond Tong represented Malaysia Airport Holdings Bhd. on a $298 million share placement. The company, which is majority controlled by Malaysian sovereign wealth fund Khazanah Nasional Bhd., will use the money to fund the acquisition of 40 percent stakes in two airports in Turkey. Raslan Loong Advocates & Solicitors acted as Malaysian counsel. DLA Piper Hong Kong partner Stephen Peepels advised joint placement agents CIMB Investment Bank Bhd., Credit Suisse (Singapore) Ltd. and J.P Morgan Securities (Malaysia) Sdn. Bhd. Adnan Sundra & Low advised the banks on Malaysian law.
DLA Piper Sydney partner Les Koltai has advised Investa Property Group on its $174 million purchase of a 50 percent stake in two office towers in Sydney’s central business district. Investa will manage the two towers, while seller Stockland Corp. Ltd. will continue to manage a connected two-level shopping center. Lander & Rogers Melbourne partner John Wells represented seller Stockland.
DLA Piper acted for English Premier League soccer club Manchester City on its reported $11 million stake purchase in Australian A-League soccer club Melbourne Heart. Manchester City is acquiring an 80 percent share of the team, with the owners of National Rugby League team Melbourne Storm taking the remaining 20 percent stake. Melbourne partner Mark Burger advised Manchester City on the deal. Hall & Wilcox Melbourne partner Martin Ross advised the Melbourne Storm owners. Saxby’s Lawyers represented the target.
Amarchand & Mangaldas & Suresh A. Shroff Co. Delhi partner Kalpataru Tripathy advised Avantha Holdings Ltd. and a wholly owned subsidiary on a $111.2 million financing. Avantha is a subsidiary of Indian conglomerate Avantha Group and manufactures Spirulina, a dietary supplement, and packaging materials. The company took out loans from and issued bonds to KKR India Financial Services Private Ltd., L&T Finance Ltd., L&T Fincorp Ltd. and Family Credit Ltd. AZB & Partners Mumbai partner Ashwin Ramanathan represented the lenders.
Arnold Bloch Leibler is advising Australian Internet classifieds company carsales.com Ltd. on its $109 million investment in online assets of Korea’s SK Encar, an automotive trading business that is part of the SK Group conglomerate. The deal, which is subject to regulatory and shareholder approval, includes the encar.com automotive classifieds website and will see SK Encar spin off of those assets into a new company, of which carsales.com Ltd. will purchase a 49.9 percent stake. Melbourne partner Jonathan Wenig is acting for carsales.com Ltd. SK Encar is using in-house counsel on the deal.
*Updated 3/14/14: This story has been updated to include Maples and Calder as Cayman Islands counsel to Haichang Ltd. on its Hong Kong IPO.