China/Hong Kong

Simpson Thacher & Bartlett has advised private equity company CVC Capital Partners on the formation of a new $3.5 billion Asia fund. London-based CVC has been raising money since last June for its Asia Pacific IV fund, which will invest in the consumer industry in China, Japan, Korea and Southeast Asia. The fund closed last month. London partner Gareth Earl led the Simpson team advising CVC, with help from London partner Jason Glover and New York partner Tom Bell. Mourant Ozannes Jersey partner Felicia de Laat acted for the private equity company on Jersey law matters. [Read full story]

Simpson Thacher & Bartlett and Skadden, Arps, Slate, Meagher & Flom have had the lead roles on Chinese e-commerce giant Alibaba Group Holding Ltd.’s buyout of mobile Web browser developer UCWeb Inc. Alibaba, which already owns 66 percent of UCWeb, is tendering for the remaining shares. Terms of the deal were not disclosed, but The Wall Street Journal reported that UCWeb chief executive officer Yu Yongfu told staff at an internal meeting that the deal valued the company at more than double the $1.9 billion that Alibaba rival Baidu Inc. paid to acquire smartphone app store 91 Wireless Websoft Ltd, meaning that Alibaba is paying around $1.3 billion for the remaining 34 percent. Hong Kong partner Kathryn Sudol led a Simpson Thacher team representing Alibaba. Skadden Hong Kong partners Julie Gao and Will Cai and Beijing partner Daniel Dusek advised UCWeb. [Read full story]

Skadden, Arps, Slate, Meagher & Flom is advising Chinese Internet search giant Baidu Inc. on a $1 billion bond sale. Baidu is selling the five-year notes in order to raise cash for general corporate purposes, according to a statement. The dollar-denominated bonds are expected to list on the Singapore Exchange. Hong Kong partners Julie Gao and Jonathan Stone are leading the Skadden advisory team. Han Kun Law Offices is serving as Chinese counsel, while Maples and Calder Hong Kong partner Greg Knowles is advising on Cayman Islands law. Davis Polk & Wardwell Hong Kong partner James Lin is acting for underwriters Goldman Sachs (Asia) and J.P. Morgan Securities. Jingtian & Gongcheng is advising the banks on Chinese law. [Read full story]

Kirkland & Ellis is representing state-run Shanghai Pudong Science and Technology Investment Co. Ltd. on its proposed $693 million acquisition of Chinese semiconductor maker Montage Technology Group Ltd. The deal is subject to shareholder and regulatory approval, and no date was given for when the transaction would close. Hong Kong partner David Zhang and Stephanie Tang are acting for PDSTI. O’Melveny & Myers New York partner Paul Scrivano and San Francisco partner Eric Sibbitt are advising Montage on the deal. [Read full story]

Baker & McKenzie Hong Kong partner Jason Ng has acted for Dutch pension fund manager APG Asset Management N.V. on a $650 million investment in Shanghai e-Shang Warehousing Services Co. Ltd. The deal gives APG a 20 percent stake in e-Shang, which is majority-owned by private equity company Warburg Pincus, and will also create a joint venture between APG and e-Shang to develop and operate logistics properties in China. Mourant Ozannes Hong Kong partner Alex Last advised APG on Cayman Islands and British Virgin Islands law. Allen & Overy Shanghai partner Richard Kim and Amsterdam partner Maarten Muller represented e-Shang, with Walkers serving as Cayman Islands counsel.

Davis Polk & Wardwell Hong Kong partners Bonnie Chan and Antony Dapiran and Beijing partner Li He have advised Qingdao Port International Co. Ltd. on its $376.6 million Hong Kong initial public offering. The state-owned company, which operates the port in the northeast coastal city of Qingdao, plans to use the money to bolster its capital base and further grow its business. Jia Yuan Law Offices advised the company on Chinese law matters related to the IPO. Freshfields Bruckhaus Deringer Hong Kong partner Calvin Lai and Beijing partner Richard Wang acted for joint global coordinators BOCI Asia Ltd., CITIC Securities Corporate Finance (HK) Ltd. and UBS AG. Grandall Law Firm was Chinese counsel to the banks.

Paul, Weiss, Rifkind, Wharton & Garrison Hong Kong partner Jack Lang has advised a consortium of investors led by KKR & Co. on an investment in the meat division of Chinese state-owned food company COFCO Group. Financial terms of the investment by the consortium, which included also Baring Private Equity Asia, Hopu Investment Management Co. and Boyu Capital Advisory Company Ltd., were not disclosed, but media reports put the total investment at $270 million. COFCO and the consortium plan to build and operate industrialized hog farms and meat-processing plants in China. Weil, Gotshal & Manges Hong Kong partner Akiko Mikumo acted for Baring. Clifford Chance Beijing partner Terence Foo represented COFCO.

Kirkland & Ellis Hong Kong partners David Zhang and Benjamin Su have represented solar cell maker Trina Solar Ltd. on a $146.3 million notes issue. Fangda Partners advised the company on Chinese law, while Conyers Dill & Pearman was Cayman Islands counsel. Simpson Thacher & Bartlett Hong Kong partner Christopher Lin acted for underwriters Deutsche Bank Securities Inc., Barclays Capital Inc., J.P. Morgan Securities, Goldman Sachs (Asia) and HSBC Securities (USA). Jun He Law Offices and Walkers acted for the banks on Chinese and Cayman Islands law, respectively.

Sidley Austin Hong Kong partner Constance Choy and Chicago partner John Box are acting for China’s Goodbaby International Holdings Ltd. on its proposed $143 million purchase of WP Evenflo Group Holdings Inc., an Ohio-based company that makes baby car seats, strollers and similar products. The deal, which allows Goodbaby to expand its manufacturing footprint to North America, is subject to shareholder approval. No date was given for a closing. Ropes & Gray San Francisco partner Todd Boes, New York partner Leo Arnaboldi and Hong Kong partners Brian Schwarzwalder and Victoria Lloyd are advising private equity company Weston Presidio, Evenflo’s owner.

DLA Piper Hong Kong partners John Shi, Paul Lee and Jeffrey Mak and Singapore partner Ben Sandstad advised state-run Rizhao Port Group Co. Ltd. on a $138 million renminbi-denominated bond issue in Hong Kong. The Shanghai-listed company operates ports in the northeastern province of Shandong. Beijing DHH Law Firm served as Chinese counsel. Davis Polk & Wardwell acted for underwriters ABCI Capital Ltd. and Barclays Bank Plc, with Global Law Office advising the banks on Chinese law.

Gibson, Dunn & Crutcher Hong Kong partner Graham Winter has advised Summit Ascent Holdings, the investment holding company of casino tycoon Lawrence Ho, on a $76 million share placement. Ho, cochairman and chief executive officer of Melco Crown Entertainment Ltd., which operates Macau’s City of Dreams hotel and casino complex, is raising funds for the development of a casino in Vladivostok, Russia. Norton Rose Fulbright Hong Kong partner Psyche Tai acted for BNP Paribas Securities (Asia) Limited as the sole placing agent.


Baker & McKenzie Sydney partner Christopher Saxon is advising Australia’s Origin Energy on the $800 million purchase of a 40 percent stake in two exploration permits in the Browse Basin, an offshore gas field in the country’s northwest. Origin is buying the stake from Melbourne-based Karoon Gas Australia Ltd., which shares the permits with ConocoPhillips Co. and Chinese National Petroleum Corp. ConocoPhillips and CNPC own 40 percent and 20 percent of the licenses, respectively. The deal is subject to joint venture preemptive rights and regulatory approval, and is expected to close in the third quarter. K&L Gates Perth partners Eric Fethers and Simon Salter are acting for Karoon.

Johnson Winter & Slattery Sydney partners James Rozsa and Byron Koster are acting for Australian education company Vocation Ltd. on its proposed $79 million acquisition of Endeavour College of Natural Health, an education and training company in the country’s health and wellness industry. Vocation said the deal offered the company the chance to diversify its sources of revenue while also offering greater exposure to what it said was a growing sector. The deal is expected to close July 1. Gilbert + Tobin is advising Endeavour.


Allen & Gledhill partner Lyn Wee advised Singaporean real estate developer MCL Land Ltd. on a $358 million loan facility from DBS Bank Ltd. A unit of Hong Kong conglomerate Jardine Matheson & Co., MCL will use the money to purchase and develop new properties. Rodyk & Davidson acted for DBS.

Southeast Asia

O’Melveny & Myers Singapore counsel Ratih Nawangsari represented Indonesian coal mining company PT Toba Bara Sejahtra Tbk on a $75 million loan facility from Citibank N.A., PT Bank BNP Paribas Indonesia and Standard Chartered Bank. Toba Bara plans to use the money in order to refinance existing debt, to boost its general working capital requirements and to fund acquisitions of other coal mining assets in Indonesia. Freshfields Bruckhaus Deringer acted for the banks on English law, while Jakarta-based Ali Budiardjo, Nugroho, Reksodiputro served as Indonesian counsel.


Samvad Partners advised Indian electronic security systems maker Securens Systems Private Ltd. on a $5 million investment by Menlo Park, Calif.-based venture capital company Mayfield Fund. The investment, Mayfield’s second in the Mumbai company, brings its total holdings in Securens to 49 percent. Samvad Bangalore partner Harish Narsappa acted for Securens. Economic Laws Practice Mumbai partner Suhail Nathani represented Mayfield.