Mori Hamada & Matsumoto and Simpson Thacher & Bartlett are advising Osaka-based beverage maker Suntory Holdings Ltd. on what is expected to be Japan’s largest initial public offering this year. Privately held Suntory, perhaps best known as a maker of whiskey, is looking to raise $4.7 billion by listing its wholly owned food and nonalcoholic beverage unit—Suntory Beverage & Food—on the Tokyo Stock Exchange. The IPO is planned for July 3. Mori Hamada Tokyo partners Toru Ishiguro and Taro Omoto are acting as Japanese counsel to the issuer, while Simpson Thacher Tokyo partner Alan Cannon is advising on U.S. law issues. Anderson Mori & Tomotsune Tokyo partner Hironori Shibata and Sullivan & Cromwell Japan practice head Izumi Akai are advising underwriters Nomura Holdings Inc., Morgan Stanley, and JPMorgan Chase & Co. [Read full story]
Vedanta Resources, a London-based metals and mining company that primarily operates in India, has issued $1.7 billion in bonds on the Singapore Stock Exchange. Latham & Watkins Singapore partners Rajiv Gupta and Timothy Hia, London partner Lene Malthasen, and Hong Kong partner David Miles advised Vedanta on English law and U.S. law. Shearman & Sterling Hong Kong partner Kyungwon Lee and London partner Mei Lian represented underwriters Barclays, Citigroup Global Markets, J.P. Morgan Securities, Merrill Lynch, Pierce, Fenner & Smith Inc., The Royal Bank of Scotland, Standard Chartered Bank, and Deutsche Bank AG, Singapore Branch. Amarchand & Mangaldas & Suresh A. Shroff & Co. Delhi partners Prashant Gupta and Monal Mukherjee advised both Vedanta and the underwriters as to Indian law. [Read full story]
Rolta India, an information technology solutions provider, has launched a $200 million bond offering on the Singapore Stock Exchange. Rolta was represented by DLA Piper and AZB & Partners on U.S. law and Indian law, respectively. Trilegal Mumbai partner Srinivas Parthasarathy along with Davis Polk & Wardwell acted for underwriters Barclays, Citigroup, DBS Bank, and Deutsche Bank.
Just Dial Ltd., an Indian search engine, is hoping to raise $165 million in what is expected to be the largest initial public offering in India this year. Amarchand & Mangaldas & Suresh A. Shroff & Co. Mumbai partner Yash J Asharas is advising the issuer. Latham & Watkins Singapore partner Rajiv Gupta, New York partner Jiyeon Lee-Lim, and Los Angeles partner Sam Weiner are advising underwriters Citigroup Global Capital Markets India and Morgan Stanley India, along with local firm S&R Associates.
Indian media company Sun TV Network Ltd. is selling 2 percent of its equity for a floor price of $56 million. Amarchand & Mangaldas & Suresh A. Shroff & Co. is advising Sun TV with a team led by Bangalore partner Arjun Lall. Axis Capital, India Infoline, and UBS Securities India were the brokers on the deal and were advised by Baker & McKenzie.Wong & Leow on the U.S. law.
Amarchand & Mangaldas & Suresh A. Shroff & Co. Bangalore partner Arjun Lall is also advising Indian real estate developer Puravankara Projects Ltd. on a $55 million share placement. Clifford Chance and S&R Associates are acting for underwriters Axis Capital Ltd., J.P. Morgan India Private Ltd., and Kotak Mahindra Capital Co. Ltd.
Amarchand & Mangaldas & Suresh A. Shroff & Co. Mumbai partner Niloufer Lam has advised Khubchandani Hospitals Pte. Ltd. on a $49 million loan from Standard Chartered Bank. Phoenix Legal represented Standard Chartered.
Mauritius-based ChrysCapital has invested $44 million in Indian hair and skin care products company Cavinkare Pte. Ltd. Cavinkare was represented by Amarchand & Mangaldas & Suresh A. Shroff & Co. Bangalore partner Arjun Lall, while ChrysCapital was advised by Wadia Ghandy & Co.
Amarchand & Mangaldas & Suresh A. Shroff & Co. Mumbai partners Cyril Shroff and Ipsita Dutta are advising Morgan Stanley on the sale of its Indian wealth management business to Standard Chartered Bank. Trilegal Mumbai partner Nishant Parikh is acting as counsel to Standard Chartered. The terms of the transaction have not been disclosed.
Australian property group Federation Centres has agreed to sell 50 percent of its interest in six Australian shopping centers to Challenger Group for $602 million. Herbert Smith Freehills Brisbane partner Michael Back is representing Federation Centres on the deal.
Skadden, Arps, Slate, Meagher & Flom and Herbert Smith Freehills Brisbane partner Michael Back have advised Queensland property group QIC Global Real Estate on its $435.6 million acquisition of a 49 percent stake in eight U.S. regional shopping malls from Cleveland-based Forest City Enterprises. QIC will form a joint venture with Forest City, which will continue to operate the malls.
Gilbert + Tobin is advising online insurance broker iSelect on its $215 million IPO on the Australian Securities Exchange. Sydney partner Peter Cook and Melbourne partner Neil Pathak led the Gilbert + Tobin team. Herbert Smith Freehills Melbourne partner Michael Ziegelaar acted for the underwriters including Credit Suisse and Baillieu Holst.
Australian Web portal company ninemsn, which will be selling its 30 percent stake in iSelect through the IPO, is being represented by Baker & McKenzie Sydney partner Guy Sanderson. Allens Sydney partner Jeremy Low has advised New Zealand power utility Transpower New Zealand Ltd. on its $52 million sale of its derivatives trading unit d-cyphaTrade to the Australian Securities Exchange. The Allens team is led by Sydney partner Jeremy Low. Herbert Smith Freehills acted for ASX Ltd.
Davis Polk & Wardwell is advising China Huiyuan Juice Group Ltd on its $631.6 million acquisition of a fruit juice concentrate business from its parent company, China Hui Yuan Juice Holdings Co Ltd. Hong Kong partners Paul Chow and Miranda So and Beijing partner Howard Zhang led Davis Polk’s work on the deal. Morrison & Foerster is acting for the parent.
Sidley Austin Singapore partner Matthew Sheridan is advising Central China Real Estate Ltd. on a planned offering of $400 million in senior notes. Li & Partners is acting as Hong Kong counsel to the issuer with Conyers Dill & Pearman advising on Cayman Islands and British Virgin Islands law. Davis Polk & Wardwell Hong Kong partner William Barron and London partner John Paton are acting for the initial purchasers, including DBS, Deutsche Bank, J.P. Morgan, Morgan Stanley, Nomura and UBS, with Jingtian & Gongcheng acting as Chinese counsel.
Simpson Thacher & Bartlett Hong Kong partner Christopher Wong is advising Henan-based luxury car dealer China Harmony Auto Holdings on a planned $314 million IPO. Kirland & Ellis Hong Kong partners Dominic Tsun, David Zhang, Li-Chien Wong, and Fan Zhang are advising Goldman Sachs and China International Capital Corp., the joint underwriters and sponsors of the deal.
Baker & McKenzie Hong Kong partners Milton Cheng and Andrew Lockhart have advised Regal Real Estate Investment Trust on a $150 million bond offering. Appleby acted as British Virgin Island counsel to the issuer. Mayer Brown JSM acted as the trustee’s counsel, and Clifford Chance Hong Kong partner Matthew Fairclough acted for the underwriters, which included Industrial and Commercial Bank of China (Asia) Ltd., UBS AG Hong Kong Branch, and Wing Lung Bank.
Paul Hastings Hong Kong partners Raymond Li and Vivian Lam and London partner Christian Parker have represented China Daye Non-Ferrous Metals Mining Ltd. on a $133.7 million bond offering on the Hong Kong Stock Exchange. Linklaters advised initial purchasers DBS Bank and CIMB.
China Everbright International has an agreement with International Finance Corp. for a $70 million loan to finance its waste water development plants in China. Paul Hastings Hong Kong partners Raymond Li and Vivian Lam represented China Everbright, and White & Case advised the lender.
Latham & Watkins Singapore partner Sin Chei Liang has represented Singapore property group Hiap Hoe Ltd. on a $400 million bond issue. Allen & Gledhill partners Margaret Chin and Sunit Chhabra acted for DBS Bank Ltd. and DBS Trustee Ltd., the respective underwriter and trustee.
Allen & Gledhill partner Christopher Koh has advised Asia Pacific Breweries Ltd., a subsidiary of Heineken N.V., on a joint venture agreement to brew beer in Myanmar. DFDL Singapore Pte. Ltd. acted as Myanmar counsel to Asia Pacific. Local joint venture partner Alliance Brewery Co. Ltd. was represented by Colin Ng & Partners. The joint venture has pledged to invest $60 million on a brewery.
Pearson Singapore has acquired a 50 percent stake in Educomp, a vocational training provider in India. Rajah & Tann partner Evelyn Wee and Freshfields Bruckhaus Deringer acted for Pearson in the transaction. Singapore firm Tan Kok Quan Partnership represented Educomp. The terms of the deal were not disclosed.