AZB & Partners has advised Lone Star Global Acquisitions on Rajiv Rattan’s Rs6.1 billion (US$73.5m) acquisition of equity stake in RattanIndia Finance from Lone Star Global Acquisitions. Partners Ajay Bahl, Anil Kasturi, Vijayendra Pratap Singh, Abhinav Ashwin, Abhimanyu Chopra, Anisha Shridhar, Aditya Jalan and Dhiraj Kumar Totala led the firm’s team in the transaction, which was completed on February 1, 2024.
AZB & Partners has also advised TPG Capital-TPG SG Magazine (TPG Asia VIII) and Phoenix Bear Investments (CalPers) on their acquisition of equity stake in Manipal Health Enterprises from Kabru Investments (Temasek). Partners Vaidhyanadhan Iyer, Bhuvana Veeraragavan and Bharat Budholia led the firm’s team in the transaction which was completed on January 8, 2024.
Moreover, AZB & Partners is advising Nordic Capital on the acquisition by its portfolio entity, Sepia Holdco, of Zafin Labs Americas and its Indian subsidiary, Zafin Software Centre of Excellence, from multiple sellers, including Al Karim Somji and 1464086 BC. Partners Ashwath Rau and John Raghav are leading the firm’s team in the transaction, which was signed on February 8, 2024 and is yet to be completed.
Baker McKenzie has advised Weave Living, Asia Pacific’s preeminent living sector specialist, on its joint venture with a fund managed by BlackRock, the world’s largest asset manager, to acquire Citadines Mount Sophia, a serviced apartment residence at 8 Wilkie Road in Singapore. The newly acquired property, which marks Weave’s second in Singapore and 22nd location in Asia Pacific, will undergo an extensive year-long renovation, and will reopen under the company’s contemporary serviced accommodation brand, Weave Suites, in early 2025. The JV partners anticipate a significant increase in yield and eventual capital value of the property through Weave Living’s active operations and asset enhancement capabilities. Partner Jason Ng led the firm’s team in the transaction.
Clifford Chance has advised BlackRock’s Climate Finance Partnership on its investment in Ditrolic Energy Holdings (DEH), one of the largest renewable energy developers in Malaysia and South East Asia. The investment will support Ditrolic Energy’s plans to reach its targeted 1GW+ pipeline of solar projects through the expansion of its portfolio of commercial and industrial and utility-scale solar assets in Malaysia, Bangladesh, Indonesia and the Philippines. The portfolio is expected to eliminate an estimated 2.7 million tonnes of CO2 emissions, while improving access to electricity for approximately 52,000 consumers and providing around 3,500 jobs. The development of these solar assets is expected to contribute to these countries’ energy resilience and transition. A flagship public-private finance vehicle managed by BlackRock, the Climate Finance Partnership seeks to accelerate the flow of capital into climate-related investments in emerging markets. It is formed by a global consortium of investors, including institutional investors, the governments of France (AfD), Germany (KFW) and Japan (JBIC), and leading impact US organisations. A fully-integrated value chain from project development, financing, EPC through to O&M and asset management, Ditrolic Energy is currently operating and constructing more than 450MW of solar assets in Malaysia, other Southeast Asia countries, Bangladesh and China. Partner Nadia Kalic, supported by partner Chad Bochan, led the firm’s multi-jurisdictional team in the transaction. Kadir Andri & Partners, DFDL, Fikry Gunawan and PJS Law advised on local law in Malaysia, Bangladesh, Indonesia and the Philippines, respectively.
Rajah & Tann Singapore has acted for Neurowyzr on its additional US$2.1 million seed funding led by Jungle Ventures and Peak XV Partners’ Surge. Neurowyzr is a Singapore-based neuroscience and brain capital company which uses discoveries in neuroscience, advanced analytics and AI to optimize corporate and population brain health and performance. Partners Tracy Ang and Penelope Loh led the firm’s team in the transaction.
Rajah & Tann Singapore has also acted for Jebsen & Jessen on the acquisition of the industrial products division of the Konecranes group across various countries, including Singapore, Australia, Indonesia, Malaysia, the Philippines, Thailand and Vietnam. Partner Terence Quek led the firm’s team in the transaction.
Shardul Amarchand Mangaldas & Co has advised Inventurus Knowledge Solutions on its offshore financing to acquire Aquity Solutions via reverse merger process, including issuance of guarantee to JP Morgan Chase Bank, Sumitomo Mitsui Banking Corporation and Citibank (the lenders). The deal also included the creation of a special purpose vehicle based in the US for acquiring and merging with the Aquity Solutions. Partners Veena Sivaramakrishnan, Zubin Mehta and Mohit Bhatia, supported by partner Nikhil Naredi, led the firm’s team in the transaction, which was valued at US$200 million and closed on November 15, 2023.
S&R Associates has represented JM Financial and ICICI Securities, as the book-running lead managers, on the Rs6 billion (US$72.3m) IPO by Rashi Peripherals, a leading national distribution partner for global technology brands in India for information and communications technology products. Partner Jabarati Chandra led the firm’s team in the transaction.
AZB & Partners has advised Lone Star Global Acquisitions on Rajiv Rattan’s Rs6.1 billion (US$73.5m) acquisition of equity stake in RattanIndia Finance from Lone Star Global Acquisitions. Partners Ajay Bahl, Anil Kasturi, Vijayendra Pratap Singh, Abhinav Ashwin, Abhimanyu Chopra, Anisha Shridhar, Aditya Jalan and Dhiraj Kumar Totala led the firm’s team in the transaction, which was completed on February 1, 2024.
AZB & Partners has also advised TPG Capital-TPG SG Magazine (TPG Asia VIII) and Phoenix Bear Investments (CalPers) on their acquisition of equity stake in Manipal Health Enterprises from Kabru Investments (Temasek). Partners Vaidhyanadhan Iyer, Bhuvana Veeraragavan and Bharat Budholia led the firm’s team in the transaction which was completed on January 8, 2024.
Moreover, AZB & Partners is advising Nordic Capital on the acquisition by its portfolio entity, Sepia Holdco, of Zafin Labs Americas and its Indian subsidiary, Zafin Software Centre of Excellence, from multiple sellers, including Al Karim Somji and 1464086 BC. Partners Ashwath Rau and John Raghav are leading the firm’s team in the transaction, which was signed on February 8, 2024 and is yet to be completed.
Baker McKenzie has advised Weave Living, Asia Pacific’s preeminent living sector specialist, on its joint venture with a fund managed by BlackRock, the world’s largest asset manager, to acquire Citadines Mount Sophia, a serviced apartment residence at 8 Wilkie Road in Singapore. The newly acquired property, which marks Weave’s second in Singapore and 22nd location in Asia Pacific, will undergo an extensive year-long renovation, and will reopen under the company’s contemporary serviced accommodation brand, Weave Suites, in early 2025. The JV partners anticipate a significant increase in yield and eventual capital value of the property through Weave Living’s active operations and asset enhancement capabilities. Partner Jason Ng led the firm’s team in the transaction.
Clifford Chance has advised BlackRock’s Climate Finance Partnership on its investment in Ditrolic Energy Holdings (DEH), one of the largest renewable energy developers in Malaysia and South East Asia. The investment will support Ditrolic Energy’s plans to reach its targeted 1GW+ pipeline of solar projects through the expansion of its portfolio of commercial and industrial and utility-scale solar assets in Malaysia, Bangladesh, Indonesia and the Philippines. The portfolio is expected to eliminate an estimated 2.7 million tonnes of CO2 emissions, while improving access to electricity for approximately 52,000 consumers and providing around 3,500 jobs. The development of these solar assets is expected to contribute to these countries’ energy resilience and transition. A flagship public-private finance vehicle managed by BlackRock, the Climate Finance Partnership seeks to accelerate the flow of capital into climate-related investments in emerging markets. It is formed by a global consortium of investors, including institutional investors, the governments of France (AfD), Germany (KFW) and Japan (JBIC), and leading impact US organisations. A fully-integrated value chain from project development, financing, EPC through to O&M and asset management, Ditrolic Energy is currently operating and constructing more than 450MW of solar assets in Malaysia, other Southeast Asia countries, Bangladesh and China. Partner Nadia Kalic, supported by partner Chad Bochan, led the firm’s multi-jurisdictional team in the transaction. Kadir Andri & Partners, DFDL, Fikry Gunawan and PJS Law advised on local law in Malaysia, Bangladesh, Indonesia and the Philippines, respectively.
Rajah & Tann Singapore has acted for Neurowyzr on its additional US$2.1 million seed funding led by Jungle Ventures and Peak XV Partners’ Surge. Neurowyzr is a Singapore-based neuroscience and brain capital company which uses discoveries in neuroscience, advanced analytics and AI to optimize corporate and population brain health and performance. Partners Tracy Ang and Penelope Loh led the firm’s team in the transaction.
Rajah & Tann Singapore has also acted for Jebsen & Jessen on the acquisition of the industrial products division of the Konecranes group across various countries, including Singapore, Australia, Indonesia, Malaysia, the Philippines, Thailand and Vietnam. Partner Terence Quek led the firm’s team in the transaction.
Shardul Amarchand Mangaldas & Co has advised Inventurus Knowledge Solutions on its offshore financing to acquire Aquity Solutions via reverse merger process, including issuance of guarantee to JP Morgan Chase Bank, Sumitomo Mitsui Banking Corporation and Citibank (the lenders). The deal also included the creation of a special purpose vehicle based in the US for acquiring and merging with the Aquity Solutions. Partners Veena Sivaramakrishnan, Zubin Mehta and Mohit Bhatia, supported by partner Nikhil Naredi, led the firm’s team in the transaction, which was valued at US$200 million and closed on November 15, 2023.
S&R Associates has represented JM Financial and ICICI Securities, as the book-running lead managers, on the Rs6 billion (US$72.3m) IPO by Rashi Peripherals, a leading national distribution partner for global technology brands in India for information and communications technology products. Partner Jabarati Chandra led the firm’s team in the transaction.
