Linklaters is advising Japanese financial services company Orix Corp. on its $2.16 billion acquisition of a majority stake in the asset management unit of Dutch bank Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A., or Rabobank. Orix, best known for its leasing businesses, will purchase 90 percent of Robeco Groep N.V., with Rabobank staying on as a minority partner. The deal is expected to close within six months. The Linklaters team was led by Tokyo partner Hiroya Yamazaki, as well as Amsterdam partner Pieter Riemer and London partner David Holdsworth. Dutch firm De Brauw Blackstone Westbroek represented Rabobank on the deal, with Amsterdam partners Arne Grimme, Gaby Smeenk, and Bernard Spoor serving as lead advisers. [Read full story]


Skadden, Arps, Slate, Meagher & Flom and Herbert Smith Freehills are serving as lead advisers on U.S. generic drugmaker Mylan Inc.’s $1.6 billion purchase of Agila Specialties Private Ltd., the injectable drug unit of India’s Strides Arcolab Ltd. Skadden New York partners Marie Gibson and Eric Cochran are acting for Mylan on the transaction, with Slaughter and May also playing an advisory role for the company. Herbert Smith Freehills London partner Alan Montgomery is representing Strides Arcolab, with Indian firm DSK Legal serving as local counsel. [Read full story]
Cholamandalam Investment and Finance Co. Ltd., the financial services arm of Indian conglomerate Murugappa Group, has issued $55 million worth of shares to institutional investors. Cholamandalam, which trades on the Bombay and National Stock Exchanges, was represented by Indian firm J. Sagar Associates Mumbai partner Nosh Modi. Jones Day Singapore partner Manoj Bhargava acted for underwriters Kotak Mahindra Capital Co. Ltd., JM Financial Institutional Securities Private Ltd., and Axis Capital Ltd.

China/Hong Kong

New York Stock Exchange–listed WSP Holdings Ltd., which makes drill pipes used in oil and natural gas exploration, is going private in a deal valued at $893.6 million. WSP will merge with a limited liability company controlled by H.D.S. Investments. Kirkland & Ellis Hong Kong partners David Zhang, Jesse Sheley, Pierre Arsenault, and Benjamin Su acted for the special committee formed by WSP’s board of directors to consider H.D.S.’s offer, which was first made in December 2011. Gunderson Dettmer Stough Villeneuve Franklin & Hachigian is advising H.D.S. Investments. Weil, Gotshal & Manges advised UMW China Ventures, a major shareholder in WSP Holdings. Conyers Dill & Pearman is advising WSP’s special committee on Cayman Islands law.
Shanghai Industrial Holdings Ltd., which operates in the infrastructure, real estate, and consumer products sectors in mainland China, has issued $502.7 million in convertible bonds on the Hong Kong Stock Exchange. The money raised will go toward further capital expenditure and investment in the infrastructure business and for general working capital purposes. Freshfields Bruckhaus Deringer Hong Kong partners Teresa Ko, Andrew Heathcote, and Charles Ching advised the issuer. Linklaters Hong Kong partner Hwang Hwa Sim acted for bookrunners Merrill Lynch Far East Ltd., Deutsche Bank AG, and Goldman Sachs (Asia).
Sidley Austin has advised Hong Kong–listed ENN Energy Holdings Ltd. on its $500 million convertible bond issue. The Hebei province–based clean energy company is selling the bonds, which will list on the Singapore Exchange, in order to refinance existing debt and for general corporate purposes. In addition to Sidley Austin, ENN was represented by Commerce & Finance Law Offices on Chinese law and Maples and Calder on Cayman Islands law. Clifford Chance Hong Kong partner Edward Bradley acted for lead managers J.P. Morgan Securities Plc. and UBS AG, with Haiwen & Partners advising on Chinese law.

Southeast Asia

Herbert Smith Freehills has advised Malaysian telecommunications company Axiata Group Bhd. on the merger of its Cambodian unit with market rival Latelz Co. Ltd., which operates under the Smart Mobile brand in the country. The Cambodian unit, Hello Axiata Co. Ltd., controls a 90 percent share of the newly formed company, which has an enterprise value of $180 million. Singapore partners Veronica O’Shea and Brian Scott acted for Axiata, while local firm Sciaroni & Associates advised on Cambodian law. Lebanon-based Abou Jaoude & Associates represented Latelz, with VDB Loi acting on local matters.


Stamford Law Corp. and Allen & Gledhill have advised on a $111.8 million investment by Malaysian conglomerate Genting Group in Singapore’s TauRx Pharmaceuticals Ltd. The deal comprises a 20 percent stake in TauRx, and the funds will be used for Phase III clinical trials of the company’s Alzheimer’s drug LMTX. Allen & Gledhill partners Tan Su May and Alexander Yap acted for TauRx, with Stamford representing Genting on the deal.
Singapore Post Ltd. has purchased a 62.5 percent stake in regional freight forwarder Famous Holdings Pte. Ltd. for $48.5 million. SingPost, an associate company of Temasek Holdings–controlled Singapore Telecommunications Ltd., struck the deal in order to further grow its logistics business in Asia and the United States. Allen & Gledhill partners Richard Young, Lim Chong Ying, Lauren Chung, Yap Lune Teng, and Tan Siau Yan represented SingPost. Local firm Derrick Wong & Lim advised Famous Holdings.


London-based automobile distributor Inchcape Plc. will purchase Australian luxury car retailer Trivett Automotive Group for $117.8 million. The transaction is expected to close March 1. Minter Ellison Melbourne partners Matthew Hibbins and Peter George are representing Inchcape in negotiations, while Trivett is being advised by Robinson Legal Sydney partner Julie Briscoe.
Email: tbrennan@alm.com .