Latest deals from law firms and legal services providers in Asia and Middle-East, as of 26th January 2022.

Latest Deals from Law Firms and Legal Services Providers Allen & Gledhill, together with its associate firm in Malaysia Rahmat Lim & Partners, has advised URC Snack Foods (Malaysia) on its approximately M$2 billion (US$477m) “cash-free debt free” acquisition of a 100 percent stake in Crunchy Foods. Munchy Food Industries and Munchworld Marketing, subsidiaries of Crunchy Foods, are manufacturers of snacks and edible food in Malaysia. Munchy Food is Malaysia’s number one biscuit brand, and is also a recognised brand across the region. Partners Christian Chin and Mark Quek, together with partners Chen Lee Won, Kelvin Loh, Lee Yee Ling and Raymond Yong of Rahmat Lim & Partners, led their respective firm’s team in the transaction. Allen & Gledhill has also advised SIX Group on its joint venture with SBI Digital Asset Holdings to engage in businesses related to the issuance, trading, settlement and custody (wallet solutions) of digital assets, including without limitation security tokens and cryptocurrencies, in the Asia Pacific region. Partners Chiam Tao Koon and Alexander Yap led the firm’s team in the transaction. AZB & Partners has advised Internet Fund VII, a fund managed by Tiger Global Management, on its acquisition, along with other investors, of equity stake via series B equity funding round in Soul Vision Creations, the operator of an augmented reality platform for B2B operations d/b/a Avataar.Me. Partners Ashwath Rau, Srinath Dasari, Nanditha Gopal and Aditya Singh Chandel led the firm’s team in the transaction, which was valued at Rs3.3 billion (US$44.2m) and was completed on December 17, 2021. AZB & Partners has also advised Healthcare At Home India on the acquisition of equity...

Featured Deal Kudun and Partners has represented BG Energy Solution, a subsidiary of BG Container Glass (BGC) and Bangkok Glass, on a cross-border refinancing transaction via a loan facility from Vietcombank for approximately Vnd760.6 billion (US$33.6m) for My Son 1 and Vnd640.6 billion (US$28.3m) for My Son 2, totaling Vnd1.4 trillion (US$62m). The refinancing was extended for the early redemption of all outstanding bonds, with Tan Viet Securities acting as the bondholder representative. Partner Chai Lertvittayachaikul led the firm’s team in the transaction. Allen & Gledhill has advised Allianz Real Estate on its subscription of interests in GBTC II, a platform managed by the Godrej group, as part of Allianz’s strategy to invest in fast-growing markets, such as China and India. The platform targets the development of premium Grade-A offices in tier one cities in India. Partners Richard Young, Ko Xiaozheng, Jonathan Lee and Lee Bik Wei led the firm’s team in the transaction. Allen & Gledhill has also advised CIMB Bank Singapore Branch, DBS Bank, Oversea-Chinese Banking Corporation, Standard Chartered Bank (Singapore) and United Overseas Bank, as the dealers, on the issue of S$300 million (US$222m) 3.29 percent notes due 2026 by GLL IHT, under its S$3 billion (US$2.22b) multicurrency medium term note programme. Partners Margaret Chin and Sunit Chhabra led the firm’s team in the transaction. Assegaf Hamzah & Partners has acted as Indonesian counsel to Morgan Stanley Asia (Singapore), UBS (Singapore Branch), Credit Suisse (Singapore) and DBS Bank, as the international selling agents, and Mandiri Sekuritas, Morgan Stanley Sekuritas Indonesia and Credit Suisse Sekuritas Indonesia, as the underwriters, on Avia Avian’s IPO, which raised approximately Rp5.8 trillion (US$405.8m)....

Allen & Gledhill has advised SIA Engineering on the establishment of its S$1 billion (US$738m) euro medium term note program. Partners Margaret Chin and Sunit Chhabra led the firm’s team in the transaction. Allen & Gledhill has also advised Medco Energi Internasional on the issue of US$400 million 6.95 percent senior notes due 2028. Partner Glenn Foo led the firm’s team in the transaction. AZB & Partners has advised Michael & Susan Dell Foundation on its acquisition of equity stake in Arthan Finance. Partners Hardeep Sachdeva and Priyamvada Shenoy led the firm’s team in the transaction, which was signed on December 15, 2021 and completed on December 20, 2021. AZB & Partners has also advised PAG Asia Capital affiliates PAGAC Ariane and Asia Pragati Strategic Investment Fund on their Rs10.54 billion (US$141.3m) acquisition of a more than 50 percent controlling stake in Acme Formulations. Partners Ashwath Rau, Atreya Bhattacharya and Jasmin Karkhanis led the firm’s team in the transaction, which was completed on September 30, 2021. Baker McKenzie has acted as international counsel to CITIC Group on its investment into China Huarong Asset Management, pursuant to a Rmb42 billion (US$6.6b) capital increase exercise undertaken by China Huarong. Besides CITIC, China Huarong has also received investments from other investors, including China Insurance Investment, China Cinda, China Life Insurance and ICBC Investment. China Huarong is one of the four major state-owned financial asset management companies in China. Its main business covers distressed asset management, financial services, and asset management and investment, with distressed asset management as its core business. As a result of this investment, CITIC will become one of the...

Allen & Gledhill has acted as transaction counsel to United Overseas Bank and CIMB Bank Singapore Branch, as lenders, on the S$380 million (US$280m) term and revolving credit facilities to Empress Investments, a vehicle sponsored by CapitaLand Mall Asia. The facilities will be used to finance the acquisition of a data center campus, comprising data center buildings with a total planned gross floor area of up to 75,000 square meters located at Minhang District, Shanghai. Partner Lim Wei Ting led the firm’s team in the transaction. Allen & Gledhill (Vietnam) has advised Manhattan Resources on the US$4.3 million sale and purchase agreement to acquire the entire issued and paid-up share capital of Athena Energy Holdings, a renewable energy company with 4MW of operating and 30MW commitment in rooftop commercial and industrial solar projects in Vietnam, and a strong pipeline of renewable energy projects. This acquisition is a key milestone for Manhattan Resources, as it will strengthen its ability to accelerate growth in the renewable energy business. Managing partner Oh Hsiu-Hau and partners Phan Vinh Nhan and Jonathan Lin led the firm’s team in the transaction. AZB & Partners has advised Anand Rathi Wealth on its IPO of equity shares with face value of Rs5 (US$0.067) each, via an offer for sale by the selling shareholders of 12 million equity shares for cash at Rs550 (US$7.36) per equity share, aggregating to Rs6.59 billion (US$88.2m). The equity shares were listed in the stock exchanges on December 14, 2021. Partners Varoon Chandra and Lionel D’Almeida led the firm’s team in the transaction. AZB & Partners has also advised Apax Partners on the...