Asia Deal Digest, published periodically, is a compilation of some of the largest deals carried out in Asia and Australia.
• Kirkland & Ellis Hong Kong partners Neil McDonald, Robert Sandes, Daniel Margulies and Daniel Abercromby, London partners Kon Asimacopoulos, Matthew Czyzyk and Cedric Van den Borren, and Chicago partners Marc Kieselstein and Adam Paul advised Singapore-listed commodity trader Noble Group Ltd. on a $3.5 billion debt restructuring that involved delisting Noble Group and creating a new privately held holding company, Noble Group Holdings Ltd. Allen & Gledhill served as Singaporean counsel. Conyers Dill & Pearman served as Bermuda counsel. White & Case advised Noble’s management. Clifford Chance advised Deutsche Bank as a creditor. Allen & Overy represented ING Bank as a creditor. Akin Gump Strauss Hauer & Feld London partners Neil Devaney and Barry Russell, and Hong Kong partner Naomi Moore advised a different ad hoc group of creditors. Latham & Watkins is advising Noble’s perpetual bonds holders within the ad hoc group.
• Morrison & Foerster San Francisco partners Susan Mac Cormac and Mike O’Bryan, Tokyo partner Leo Aguilar and Ken Siegel, London partner Gary Brown and Hong Kong partner Marcia Ellis are advising Japanese conglomerate SoftBank Group Corp. on a $2 billion investment in U.S. shared-office space provider WeWork Cos. Inc. Zhong Lun Law Firm Shanghai partner Anthony Zhao served as Chinese counsel. Skadden, Arps, Slate, Meagher & Flom Boston partners Graham Robinson, Laura Knoll and Moshe Spinowitz, New York partners Ryan Dzierniejko, Regina Olshan and Bruce Goldner, Palo Alto partner Leif King, Hong Kong partners Jonathan Stone and Will Cai, and Tokyo partner Mitsuhiro Kamiya are advising WeWork.
• MinterEllison Melbourne partners David Inglis and Tony Dhar, Sydney partner David McElhone and Canberra partner David Moore are advising Singapore-listed real estate investment trust SPH REIT Management Pte. Ltd. and Moelis Australia Ltd. on a $147 million acquisition of Sydney-based Figtree Grove Shopping Centre, from Australian asset management firm Swordfish Australian Mid TC Pty. Ltd. The acquisition will be made through a new joint venture trust established by SPH REIT and Moelis Australia, with SPH REIT holding a 85 percent stake. The deal is subject to regulatory approvals, including from the Foreign Investment Review Board. Corrs Chambers Westgarth is representing Swordfish.
• Clifford Chance Hong Kong partner Virginia Lee and Shanghai partner Jean Thio advised Weimob Inc., a marketing service provider on Chinese social media app WeChat, backed by Chinese tech giant and WeChat operator Tencent Holdings Ltd., on a $96 million initial public offering in Hong Kong. JunHe served as Chinese counsel. The issuer plans to use the majority of the proceeds to upgrade its research and development capability and technology infrastructure, and fund strategic cooperation, investment and acquisitions. Paul Hastings Beijing partner Nan Li and Hong Kong partner Zhaoyu Ren advised Deutsche Securities and Haitong International Capital as the joint sponsors. Jingtian & Gongcheng advised the banks on Chinese law.