Ulaanbaatar, Mongolia (Photo: Shutterstock)

 

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

Australia

• Herbert Smith Freehills Sydney partners Andrew Griffiths and Erin Wakelin, and Melbourne partners Nick Baker and Erin Wyeth represented Momentum Trains, a consortium that includes Spanish rail system equipment manufacturer and supplier Construcciones y Auxiliar de Ferrocarriles S.A. (CAF), Australian engineering firm UGL Ltd. and Australian construction contractor CPB Contractors Pty Ltd., on a $900 million project from Australian government agency Transport for NSW to build a rail fleet. The project is expected to commence later this year. King & Wood Mallesons advised the consortium’s financiers. Pinsent Masons advised CAF. Allens advised CAF Investment Projects. Corrs Chambers Westgarth advised UGL. MinterEllison advised CPB Contractors. DLA Piper Toronto-based Canada projects practice co-chair Ian Bendell, Brisbane partners David Harley and Kate Papailiou, Sydney partner Alex Regan and former Sydney partner Alex Guy (now at Ashurst) advised Transport for NSW.

Mongolia

• Mayer Brown Hong Kong partners Jason Elder and Thomas Kollar, and New York partners Jason Bazar and Jared Goldberger represented mortgage-backed securities issuer Mongolian Mortgage Corp. on a $250 million bond sale. Batbayar and Partners served as Mongolian counsel. Shearman & Sterling advised Credit Suisse as the initial purchaser. GTs Advocates advised the bank on Mongolian law.

China/Hong Kong

• O’Melveny & Myers advised Chinese property developer Dexin China Holdings Co. Ltd. on a $189 million initial public offering in Hong Kong. Commerce & Finance Law Offices Beijing partner Kong Xin served as Chinese counsel to the issuer. Dexin plans to use the majority of the proceeds to develop its existing property projects, fund land acquisitions and cover construction costs. Paul Hastings Hong Kong partners Raymond Li and Zhaoyu Ren advised CCB International as the sole sponsor. Jingtian & Gongcheng advised the banks on Chinese law.

• O’Melveny & Myers Beijing partner Ke Geng and Hong Kong partner Li Han are advising Xiaomi Corp.-backed Chinese online brokerage UP Fintech Holding Ltd. on a $150 million initial public offering on Nasdaq. DaHui Lawyers is serving as Chinese counsel to Beijing-based UP Fintech with Withers advising on Hong Kong law. Ashurst is serving as the issuer’s Australian counsel. Tompkins Wake and Buddle Findlay are advising UP Fintech on New Zealand law while Allen & Gledhill is acting on Singaporean law matters. The issuer plans to use the majority of the proceeds for general corporate purposes, expand into new markets, cover regulatory capital requirements and for acquisitions and investments. Davis Polk & Wardwell Hong Kong partner Li He is advising the underwriters, which include Citigroup, Deutsche Bank and China Merchants Securities. Fangda Partners is advising the banks on Chinese law.

• Weil, Gotshal & Manges Hong Kong partner Tim Gardner and New York partners Marc Silberberg and Amy Rubin advised Boston-based private equity firm Advent International on an acquisition of a majority stake in San Diego-based life sciences contract research and development firm BioDuro, which has operations in Beijing and Shanghai. Wilson Sonsini Goodrich & Rosati represented BioDuro.

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