Japanese brewery Asahi Group Holdings Ltd.’s European subsidiary, Asahi Europe Ltd., plans to acquire the premium beer business of London-based pub operator and brewer Fuller, Smith & Turner Plc. / Credit: DigitalMammoth/Shutterstock

Asia Deal Digest, published periodically, is a compilation of some of the largest deals carried out in Asia.


• Allen & Overy Sydney partner Mark Leemen represented the State Bank of India on a $1.25 billion bond sale, which includes $850 million in five-year notes and $400 million in three-year notes, on the India International Exchange. Shardul Amarchand Mangaldas & Co served as Indian counsel to the issuer. Linklaters advised the lead managers of the bond sale. J. Sagar Associates served as Indian counsel to the banks.

Southeast Asia

• Davis Polk & Wardwell Hong Kong partner Miranda So represented Indonesian ride-hailing service PT Aplikasi Karya Anak Bangsa (Go-Jek) on a Series F funding round, which raised about $1 billion, according to media reports, led by tech giants Google, JD.com and Tencent, Japanese conglomerate Mitsubishi Corp. and investment firm Provident Capital.


• Hunton Andrews Kurth Bangkok partners Edward Koehler and Chumbhot Plangtrakul, and Dubai partner Patricia Tiller represented Thai power company Electricity Generating Public Co. Ltd., on a $800 million acquisition of a 49 percent stake in Korean power generator Paju Energy Service Co. Ltd. from conglomerate SK Holdings Co. Ltd.’s energy investment arm. Kim & Chang served as Korean counsel to the acquirer. Baker McKenzie Seoul partners Won Lee and Winton Kim, Bangkok partners Sawanee Sethsathira and Kullapa Stavorn, and Hong Kong partner Simon Leung advised seller SK E&S Co. Ltd. Shin & Kim served as Korean counsel to SK.


• Hogan Lovells London partners Ben Higson, Peter Watts, Karen Hughes, Suyong Kim, Ed Bowyer, Edward Brown, Sahira Khwaja, Nicola Fulford and Dan Norris, and Tokyo partner Jacky Scanlan-Dyas are advising Japanese brewery Asahi Group Holdings Ltd.’s European subsidiary, Asahi Europe Ltd., on a $327 million acquisition of the premium beer business of London-based pub operator and brewer Fuller, Smith & Turner Plc. The deal is expected to be completed in the first half of 2019, subject to regulatory approvals, including from the U.K.’s Competition and Markets Authority, as well as approval from Fuller’s shareholders. Freshfields Bruckhaus Deringer London partners Claire Wills, David Sonter, David Brooks, Peter Clements, Vicky Hills, Martin McElwee, Kathleen Healy, Charles Magoffin and David Trott are representing Fuller.

China/Hong Kong

• Clifford Chance Beijing partner Tim Wang and Hong Kong partners Amy Lo and Fang Liu advised Maoyan Entertainment, a Beijing-based movie ticketing app backed by Chinese tech giant Tencent, on a $250 million initial public offering in Hong Kong. Commerce & Finance Law Offices Beijing partner Andrew Zhang served as Chinese counsel to the issuer. Maoyan plans to use the majority of the proceeds to improve its platform, invest in research and development, and for potential investments and acquisitions. Kirkland & Ellis Hong Kong partners David Zhang, Li-Chien Wong and Qi Peng, and Beijing partner Steve Lin represented the joint sponsors and underwriters, which includes Morgan Stanley and Bank of America Merrill Lynch. Jingtian & Gongcheng Beijing partners Gao Xiang, Wang Liangliang and Tian Mingzi advised the banks on Chinese law.

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