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Kudun and Partners has represented a group of high-net-worth buyers on the 69.18 percent share acquisition transaction, including preparing tender offer for all shares of One to One Contacts (OTO), from Samart Engineering and Samart Corporation in the total amount of β464.88 million (US$14.1m). Part of the transaction includes the firm providing escrow services for the buyer and the seller. Partner Kom Vachiravarakarn led the firm’s team in the transaction.
Kudun and Partners has also represented STARK Corporation on the issuance of derivatives in the form of warrants to purchase ordinary shares, with a term of four years from the issuance date of the warrants, of Stark Corporation Limited Series 1 (STARK-W1) for β20 billion (US$606.7m). Partner Kom Vachiravarakarn also led the firm’s team in the transaction.
Allen & Gledhill has acted as transaction counsel to Temasek Financial (I) on its issue of S$1.5 billion (US$848m) 2.8 percent guaranteed notes due 2071, under its US$25 billion guaranteed global medium term note program. The notes are unconditionally and irrevocably guaranteed by Temasek Holdings. Partners Yeo Wico, Wu Zhaoqi and Sunit Chhabra led the firm’s team in the transaction.
Allen & Gledhill has also acted as transaction counsel to Mapletree Investments on the issue of S$600 million (US$442.3m) 3.7 percent subordinated perpetual securities by Mapletree Treasury Services, under its US$5 billion euro medium term note program. The securities are guaranteed by Mapletree, and are the first subordinated fixed-for-life perpetual issuance in the Singapore dollar market. Partner Glenn Foo led the firm’s team in the transaction.
AZB & Partners is advising Internet Fund VII, a fund managed by Tiger Global Management, on its Rs2.6 billion (US$35m) acquisition via Series A equity funding round, along with other investors, of equity stake in The GOAT Brand Labs and its wholly-owned subsidiary Goat Brand Labs. Partners Srinath Dasari and Bhuvana Veeraragavan are leading the firm’s team in the transaction, which was signed on July 21, 2021 and is yet to be completed.
AZB & Partners has also advised Internet Fund V, a fund managed by Tiger Global Management, on its Rs9.31 billion (US$125.5m) acquisition of equity stake via Series D equity funding round in Hella Infra Market. Partners Ashwath Rau, Srinath Dasari and Bhuvana Veeraragavan led the firm’s team in the transaction, which was signed on July 28, 2021 and was completed on August 17, 2021.
Baker McKenzie has advised pension fund manager APG Asset Management on its agreement with Singapore-listed ESR Cayman and another global institutional investor on the formation of ESR’s latest logistics development platform in China, the “ESR China Development Platform”. The ESR China Development Platform has an initial equity commitment of US$1 billion, and focuses on developing and owning modern, institutional-grade logistics facilities in major logistics hubs across China. Co-chair of global funds group partner Jason Ng, supported by partner Stephen Crosswell, led the firm’s team in the transaction, which is subject to relevant regulatory approval.
Davis Polk has advised the underwriters on Baidu’s SEC-registered offering of its US$300 million 1.625 percent notes due 2027 and US$700 million 2.375 percent notes due 2031. The notes are issued as “Sustainability Bonds” under Baidu’s Sustainable Finance Framework. Baidu is a leading search engine, knowledge and information-centered internet platform and AI company. Baidu’s ADSs currently trade on the Nasdaq, while its Class A ordinary shares are currently traded in Hong Kong. Partners James Lin and Gerhard Radtke led the firm’s team in the transaction.
J Sagar Associates has advised ixigo (Le Travenues Technology) on the private equity investment in Series C1 preference shares by GIC. GIC also purchased certain preference shares from Fosun, an existing investor of ixigo. Joint managing partner Vivek Chandy and partner Archana Tewary led the firm’s team in the transaction.
J Sagar Associates has also advised ProPharma Group and its PE shareholder Odyssey Investment Partners on their 100 percent buyout of iSafety Systems. ProPharma Group is one of the leading global providers of pharmacovigilance and medical information services serving pharmaceutical, biotechnology and medical device companies. Headquartered in Hyderabad, iSafety Systems provides end-to-end pharmacovigilance and safety solutions globally. Partner Rishabh Gupta led the firm’s team in the transaction.
Khaitan & Co has advised Jindal India Thermal Power on the debt resolution of an outstanding obligation. To resolve the stress in the thermal power project, Jindal India Thermal Power approached the lenders with its primary proposal. The lenders conducted a ‘Swiss challenge’, inviting bids for the resolution of the debt, with Jindal awarded as the successful bidder. After issuance of Jindal’s letter of intent and approval of the resolution plan, the parties entered into definitive documents for detailed terms and conditions on the payment of the resolution amount to the lenders to settle the outstanding dues. Partner Siddharth Srivastava led the firm’s team in the transaction, which was valued at Rs25 billion (US$337m) and was announced on July 7, 2021.
Khaitan & Co has also advised Manjushree Technopack, India’s largest rigid plastic packaging company, on its acquisition, via business transfer agreement, of the commercial operations and manufacturing facilities of Classy Kontainers, one of the largest manufacturers of rigid plastics containers in India. Partner Aashutosh Sampat, supported by partners Anisha Chand and Anshul Prakash, led the firm’s team in the transaction, which was announced on August 16, 2021.
Maples and Calder has acted as Republic of the Marshall Islands counsel to Taylor Maritime Investments (TMI) on its IPO in London, certain seed asset vessel acquisitions and vessel financing. This is the first shipping IPO in London for a number of years. The offering, which closed on May 27, 2021, was over-subscribed. It raised US$160 million and issued approximately 93 million shares in connection with the acquisitions. TMI’s market capitalization on admission was US$253 million. Asia head of shipping partner Jonathan Silver led the firm’s team in the transaction.
Maples and Calder has also acted as BVI counsel to New Metro Global on its issuance of US$300 million 4.625 percent guaranteed senior notes due 2025, guaranteed by Seazen Holdings, and listed in Singapore. The notes are issued as green bonds. Partner Lorraine Pao led the firm’s team in the transaction, while Shearman & Sterling acted as the US counsel and Shu Jin Law Firm acted as Chinese counsel. Paul Hastings and Commerce & Finance Law Office acted as the US and Chinese counsel, respectively, to the initial purchasers.
Paul Hastings has advised Krafton, a leading game developer well-known for its PlayerUnknown’s Battlegrounds, on its US$3.8 billion global offering and listing in Korea. Credit Suisse, Citigroup, JP Morgan, Mirae Asset Securities and NH Investment & Securities acted as the joint global coordinators and joint book-runners. Krafton’s listing marks the second largest IPO in the South Korean capital markets. Corporate partner Dong Chul Kim led the firm’s team in the transaction.
Shearman & Sterling has represented HSBC, Valuable Capital, CCB International, CMB International, Shenwan Hongyuan (HK), SPDB International and YONXI Securities, as the initial purchasers, on the offering by Shinsun Holdings (Group) of US$200 million 12 percent senior notes due 2023. Shinsun Holdings is a comprehensive real estate developer in China, focusing on the development of quality residential properties in select regions in China. Hong Kong capital markets partner Alan Yeung led the firm’s team in the transaction.
S&R Associates has represented SBI Capital Markets, DAM Capital and IIFL Securities, as book-running lead managers, on the Rs4.01 billion (US$54m) IPO by Windlas Biotech, one of the top five companies in the domestic pharmaceutical formulations CDMO industry in India, in terms of revenue. Partner Jabarati Chandra led the firm’s team in the transaction.
WongPartnership has acted for TSI Metals HK on its general offer for the 356.54 million issued and paid-up ordinary shares in Dutech Holdings. Partners Joseph He, Liang Weitan and Soong Wen E led the firm’s team in the transaction.
WongPartnership has also acted for RBC Investor Services Trust Singapore, as trustee of ESR-REIT, on the A$60.5 million (US$43.7m) acquisition of 10 percent of the issued units in ESR Australia Logistics Partnership from ESR Queensland Hold Trust, a wholly-owned subsidiary entity of ESR Cayman. Partners Long Chee Shan and Loh Jen Vern led the firm’s team in the transaction.
