Allen & Gledhill has advised Certis & Lendlease Property Trust (CLPT) on its procurement of an operator to design, build, own and operate an integrated chilled water plant system, which will be implemented at the new Paya Lebar Green development, as part of major redevelopment works to be carried out on the site. The project demonstrates CLPT’s commitment to contribute to the “80-80-80 in 2030” key targets set by the Singapore Government under the Singapore Green Building Masterplan. Partners Yeo Boon Kiat and Sathiaseelan Jagateesan led the firm’s team in the transaction.
Allen & Gledhill has also advised CapitaLand Development on the implementation of Cooling-as-a-Service (CAAS) arrangements for Raffles City Singapore provided by Keppel DHCS. The provision of CAAS at Raffles City Singapore is expected to reduce carbon emissions by at least 118,680 tonnes over a 15-year period. Partners Yeo Boon Kiat and Tan Wee Meng led the firm’s team in the transaction.
Moreover, Allen & Gledhill has advised Wavemaker Pacific 4, a venture capital firm, on leading the Series A round of investment in Digital Property Hub, the Singapore-based holding company of Fit Hub, an Indonesia-based fitness platform start-up which operates over 80 tech-enabled premium and affordable gyms across Indonesia. Partner Nicholas Soh led the firm’s team in the transaction.
AZB & Partners has advised Accenture on its acquisition of Logic Global and its subsidiaries, including its Indian subsidiary Logic Information Systems (India). Partners Vaidhyanadhan Iyer, Malaveeka Chakravarthy and Nishanth Ravindran led the firm’s team in the transaction, which was completed on August 13, 2024.
AZB & Partners has advised Accenture on its acquisition of Cientra, including its Indian subsidiary Cientra Techsolution. Partners Vaidhyanadhan Iye and Bhuvana Veeraragavan led the firm’s team in the transaction, which was completed on July 9, 2024.
Moreover, AZB & Partners has advised Accenture on its acquisition of stake in ANSR Holdings, including acquisition of its Indian subsidiaries ANSR Global Corporation and ANSR Consulting India. Partners Vaidhyanadhan Iye and Vasudha Asher led the firm’s team in the transaction, which was completed on July 17, 2024.
Christopher & Lee Ong, member firm of Rajah & Tann Asia, has acted for AmInvestment Bank, as the principal adviser and lead arranger, on the M$1.85 billion (US$423m) establishment of a medium term notes programme by Saracap Ventures. Partner Jennifer Lee led the firm’s team in the transaction.
Cyril Amarchand Mangaldas has advised Amphenol on the Indian law aspects of its acquisition of the CommScope Group’s mobile network business for an aggregate of US$2.1 billion. Amphenol has entered into a Purchase Agreement dated July 18, 2024, with CommScope Holding Company to acquire the mobile networks businesses of the CommScope Group, subject to customary post-closing adjustments. The deal includes the acquisition of the CommScope Group’s Outdoor Wireless Networks (OWN) segment, as well as the Distributed Antenna Systems (DAS) business, which resides in CommScope’s Networking, Intelligent Cellular and Security Solutions (NICS) segment. Partner Anchal Dhir, supported by partners Bishen Jeswant, Abhilash Pillai, Rishiraj Bhatt and SR Patnaik, led the firm’s team in the transaction, while Latham & Watkins acted as international counsel.
Cyril Amarchand Mangaldas is also advising Kedaara Capital and Partners Group on their sale of controlling stake in Aavas Financiers to CVC. CVC has entered into a separate share sale agreement with each of Lake District Holdings, Partners Group ESCL and Partners Group Private Equity (Master Fund) for the acquisition of their respective shareholding in Aavas Financiers, aggregating to approximately 21 million equity shares representing 26.47 percent of the share capital of Aavas Financiers. The execution of the share sale agreements has also triggered an obligation on CVC to make an open offer to the public shareholders of Aavas Financiers under the SEBI Regulations 2011. Partners Anchal Dhir and Anshu Choudhary, supported by partners Aditi Manchanda, Abe Abraham, Pururaj Bhar, Gazal Rawal and Avaantika Kakkar (competition head), led the firm’s team in the transaction, which was signed on August 10, 2024.
Davis Polk has advised YXT.com Group Holding on its SEC-registered IPO of 2.75 million American Depositary Shares for total proceeds of approximately US$25 million. Each ADS represents three Class A ordinary shares of YXT. YXT has granted the underwriters an option to purchase up to an additional 412,500 ADSs. The ADSs are listed on the Nasdaq. YXT is a leader and disruptor of the digital corporate learning industry in China. It is the largest digital corporate learning solution provider in China, in terms of total revenue, subscription revenue and number of subscription customers in 2023. YXT has innovated an SaaS model that integrates software and content, effectively assisting customers in the digital transformation of corporate learning. Partners Li He and Ran Li, supported by partner Gregory Rowland, led the firm’s team in the transaction.
Maples and Calder has acted as Cayman Islands counsel to Black Sesame International Holding on its IPO of 37 million shares, and the listing in Hong Kong. Black Sesame is an automotive-grade computing system-on-chips and SoC-based intelligent vehicle solution provider, and is one of the first specialist technology companies listed under the Listing Rules. The offering, which closed on August 8, 2024, raised approximately HK$1.04 billion (US$133.5m). Partner Derrick Kan led the firm’s team in the transaction, while Clifford Chance advised on Hong Kong and US laws and Zhong Lun Law Firm advised as to Chinese law. The joint sponsors, CICC and Huatai, and the underwriters were represented by Wilson Sonsini Goodrich & Rosati as to Hong Kong and US laws and by JunHe as to Chinese law.
Maples and Calder has also acted as Cayman Islands counsel to Ruichang International Holdings on its IPO of 125 million shares and the listing in Hong Kong. Ruichang is a petroleum refinery and petrochemical equipment manufacturer based in Henan Province, China. The offering, which closed on July 10, 2024, raised approximately HK$131.1 million (US$17m). Partner Matt Roberts led the firm’s team in the transaction, while O’Melveny & Myers advised on Hong Kong law and Jia Yuan Law Offices advised on Chinese law. The sole sponsor, First Shanghai Capital, was advised by Eric Chow & Co in association with Commerce & Finance Law Offices as to Hong Kong law, and by JunHe as to Chinese law.
Moreover, Maples and Calder has advised Chenqi Technology on its IPO of more than 30 million shares in Hong Kong. The offering, which closed on July 10, 2024, raised gross proceeds of approximately HK$1.3 billion (US$167m). Chenqi Technology is the world’s first mobility platform to launch a commercialised hybrid operation of manned ride-hailing and self-driving services for autonomous vehicles called Robotaxis, and is also the second-largest mobility service platform in the Greater Bay area in China. Founded by state-owned automaker Guangzhou Automobile and tech giant Tencent, Chenqi Technology serves and connects various participants of the mobility industry, including the riders, drivers, automobile OEMs, vehicle service providers and autonomous driving solution providers. Hong Kong corporate partner Juno Huang led the firm’s team in the transaction, while Clifford Chance advised on Hong Kong and US laws and Haiwen & Partners advised on Chinese laws. The joint sponsors, China International Capital Corporation Hong Kong Securities, Huatai Financial Holdings (Hong Kong) and ABCI Capital, and the underwriters were advised by Paul Hastings as to Hong Kong and US laws, and by Commerce & Finance Law Offices as to Chinese laws.
Shardul Amarchand Mangaldas & Co has advised Brainbees Solutions on its IPO through a fresh issue and an offer for sale by SVF Frog (Cayman), Mahindra & Mahindra, PI Opportunities Fund-1, TPG Growth V SF Markets, NewQuest Asia Investments III, Ratan Tata and other shareholders. The IPO was subscribed over 12 times, with the Qualified Institutional Buyers (QIB) portion subscribed over 19 times, and the Non-Institutional Buyers (NIB) portion subscribed over four times. Kotak Mahindra Capital, Morgan Stanley India, BofA Securities India, JM Financial and Avendus Capital acted as the book-running lead managers on the transaction. Partners Prashant Gupta (capital markets national practice head) and Sayantan Dutta led the firm’s team in the transaction, which is valued at approximately US$500 million. Sidley Austin advised the issuer on the international aspects. Khaitan & Co and Linklaters Singapore advised the book-running lead managers on the Indian and international aspects, respectively. Cyril Amarchand Mangaldas, Trilegal and IndusLaw advised the selling shareholders.
Shardul Amarchand Mangaldas & Co has also advised Juniper Networks on securing an unconditional approval from the Competition Commission of India for its US$14 billion acquisition by Hewlett Packard Enterprise. Partners Aparna Mehra and Ritwik Bhattacharya led the firm’s team in the transaction, which is one of the largest deals in the global networking solutions sector. Skadden, Arps, Slate, Meagher & Flom advised Juniper on the global aspects. Freshfields Bruckhaus Deringer and Touchstone Partners advised Hewlett Packard Enterprise on the global and Indian aspects, respectively.
Moreover, Shardul Amarchand Mangaldas & Co has advised Ceigall India on its IPO of approximately 31.2 million equity shares, raising approximately Rs12.5 billion (US$149m). The IPO, which includes a fresh issue and an offer for sale, was subscribed over 14 times overall. The deal is valued approximately at US$149.2 million. ICICI Securities, IIFL Securities and JM Financial served as the book-running lead managers. Partners Prashant Gupta (capital markets national practice head) and Sayantan Dutta led the firm’s team in the transaction. Trilegal and Hogan Lovells Lee & Lee advised the book-running lead managers on the Indian and special purpose international aspects. Wadia Ghandy & Co Advocates & Solicitors advised the promoter selling shareholders, promoter group selling shareholders and individual selling shareholder on the Indian aspects.
Skadden has advised Consonant Investment Management on an equity offering by Invincible Investment of 939,750 new units, including the over-allotment option shares. Invincible Investment is a Japanese investment corporation which owns and operates real estate properties and other real estate-related assets. The global offering of up to ¥60 billion (US$411m) closed on July 30, 2024. Invincible Investment’s units are listed in Tokyo. Tokyo partner Kenji Taneda led the firm’s team in the transaction.
S&R Associates has represented multinational telecommunications company Vodafone Group on obtaining the approval of the Competition Commission of India for Vodafone’s strategic partnership with Accenture Holdings, pursuant to a proposed acquisition of shares of Vodafone Shared Operations, which provides shared services to Vodafone group entities. Competition practice head Simran Dhir and partner Akshat Kulshrestha led the firm’s team in the transaction.
TT&A has advised Norfund on a fund-raising round by Fourth Partner Energy, which saw participation from IFC, ADB and DEG, for an aggregate amount of US$275 million. Such investment by the consortium will help with Fourth Partner Energy’s business expansion plans, which include a target portfolio of 3.5 GW of renewable energy assets by 2026. Partner Dushyant Bagga led the firm’s team in the transaction.
