AZB & Partners has advised Investcorp and Public Sector Pension Investment Board on their acquisition of stake in PKF O’Connor Davies, including its Indian entity PKF O’Connor Davies. Partners Aarthi Sivanandh and Avinash Subramanian led the firm’s team in the transaction, which was completed on November 18, 2024. AZB & Partners has also advised Capfloat Financial Services on its Rs1.6 billion (US$19m) sale of more than five percent stake to Amazon. Partner Srinath Dasari led the firm’s team in the transaction, which was completed on August 28, 2024. Moreover, AZB & Partners are advising Footpath Ventures SPV VI on its acquisition of equity stake in Emerging Media Ventures, including its Indian subsidiary Royal Multisport. Partners Vaidhyanadhan Iyer and Vasudha Asher are leading the firm’s team in the transaction. Chandler MHM has advised Lotus’s Retail Growth Freehold and Leasehold Property Fund (LPF) on its conversion to the Axtra Future City Freehold and Leasehold Real Estate Investment Trust (AXTRART). This groundbreaking conversion involves 23 Lotus shopping centers valued at over β32 billion (US$933m) across Thailand, establishing AXTRART as one of the four largest REITs to date. AXTRART commenced trading in Thailand on December 12, 2024, and is now ranked among the top four REITS by value on the Real Estate Mutual Fund and Property Investment Trust Index (PF&REIT). AXTRA Future City Property Reit, the REIT Manager of AXTRART, is a subsidiary of CP Extra (CPAXT), which focuses on the wholesale and retail business, and CP Future City Development Corporation (CPFC), dedicated to real estate development. This transaction resulted in AXTRART assuming all assets, liabilities, rights, obligations and contracts of LPF. The assets include...

Allen & Gledhill has advised the Housing and Development Board on the issue of S$900 million (US$671m) fixed rate notes due 2031, under its S$32 billion (US$24b) multicurrency medium term note programme. Partners Margaret Chin and Sunit Chhabra led the firm’s team in the transaction. Allen & Gledhill has also advised United Overseas Bank, as the issue manager, on the secondary listing, via introduction, of PC Partner Group in Singapore. Founded in 1997 and listed in Hong Kong in 2012, PC Partner is a global leading manufacturer and distributor of electronic products, particularly graphic cards, motherboards and mini-PCs. Partners Rhys Goh and Kern Wong led the firm’s team in the transaction. AZB & Partners is advising FIH Mauritius Investments on its Rs21.5 billion (US$253m) acquisition, via Fairfax, of equity stake of Bangalore International Airport from Siemens. Partners Darshika Kothari and Kritika Agarwal are leading the firm’s team in the transaction, which was signed on December 3, 2024 ad is yet to be completed. AZB & Partners has also advised Willowbay Investment on its Rs9 billion (US$106m) sale of stake in Diliigent Power to the DB Group Entities and their promoters (part of Dainik Bhaskar Group). Partners Anil Kasturi, Niladri Maulik and Siddharth Khanna led the firm’s team in the transaction, which was completed on November 28, 2024. Moreover, AZB & Partners is advising Intelligencenode Consulting and its subsidiary Intelligence Node on their Rs8.5 billion (US$100m) sale of stake to IPG Nederland, a part of the Interpublic Group. Partner Kunal Kumbhat is leading the firm’s team in the transaction, which was signed on December 3, 2024 and is yet to be...

AZB & Partners is advising JSW Steel on its Rs40 billion (US$472m) acquisition, along with other acquirers, of Thyssenkrupp Electrical Steel. Partner Rajendra Barot is leading the firm’s team in the transaction, which was signed on October 18, 2024 and is yet to be completed. AZB & Partners has also advised Kohlberg Kravis Roberts & Co, via its portfolio company Ness USA and its Indian subsidiary Ness Digital Engineering (India), on the acquisition by Ness Digital Engineering of Raja Software Labs. Partners Ashwath Rau, Kashish Bhatia and John Raghav are leading the firm’s team in the transaction, which was completed on November 22, 2024. Moreover, AZB & Partners has advised Apollo Radiology International on its acquisition of InHealth Reporting (IHR UK). Partners Anand Shah and Shriram Shah led the firm’s team in the transaction, which was completed on November 15, 2024. Allen & Gledhill has advised Winchamp Investment on the S$540 million (US$402m) green term loan and revolving credit facilities granted by Oversea-Chinese Banking Corporation and United Overseas Bank, the original lenders for the financing of the acquisition and development of a Government Land Sales site, River Valley Green (Parcel A). Partner Daselin Ang led the firm’s team in the transaction. Allen & Gledhill has also advised CapitaLand Ascott Trust Management, manager of CapitaLand Ascott Real Estate Investment Trust, and CapitaLand Ascott Business Trust Management, trustee-manager of CapitaLand Ascott Business Trust, on the S$263 million (US$196m) acquisition of lyf Funan Singapore. The acquisition involves CapitaLand Ascott REIT acquiring 100 percent of the issued units in Victory SR Trust, which holds lyf Funan Singapore, from Victory SR. Upon completion of...

Allen & Gledhill has advised Wemix on the sale of some of its shares in Lightscale Holdings to ZKcandy and JB Investment. The sale is in connection with the investments by ZKcandy and JB Investment in Kroma, Lightscale’s innovative Layer 2 blockchain solution. Partners Nicholas Soh, Adrian Ang and Alexander Yap led the firm’s team in the transaction. AZB & Partners is advising UPL on its Rs29.5 billion (US$350m) sale of stake in Advanta Enterprises to Alpha Wave Global. Partners Ashwath Rau and Atreya Bhattacharya are leading the firm’s team in the transaction, which was signed on November 19, 2024 and is yet to be completed. Baker & McKenzie has advised J-STAR and Potentia Capital on their joint acquisition of jinjer, one of Japan’s leading HR SaaS players. The transaction involved the purchase of all outstanding shares in the company. A prominent Japanese private equity firm specializing in mid-cap companies with approximately ¥200 billion (US$1.3b) in assets under management, J-STAR invested in jinjer via its ¥75 billion (US$486m) JSTAR No. 5 Fund. Potentia, Australasia’s leading technology-focused private equity and growth capital firm with over A$2 billion (US$1.3b) in assets under management, invested via its Fund 2, which was established with A$670 million (US$346m) from institutional investors in 2022. jinjer is a provider of multi-module, cloud-based HR SaaS solutions to enterprise customers in the Japanese market. It has seen rapid growth for the last three years, as its product line has expanded. jinjer’s market-leading SaaS platform covers the full employee lifecycle — from HR management to payroll, time and attendance, expenses, workflow, performance evaluation and talent management. With a single...

AZB & Partners is advising Bharti Enterprise on its Rs12.9 billion (US$153m) sale of Del Monte Foods to Agro Tech Foods. Partners Anil Kasturi, Ashish Pareek and Hemangini Dadwal are leading the firm’s team in the transaction, which was signed on November 14, 2024 and is yet to be completed. AZB & Partners is also advising Weaver Services on its Rs2.6 billion (US$31m) acquisition of Capital India Home Loans. Partners Nandish Vyas and Bhargavy Ramesh are leading the firm’s team in the transaction, which was signed on October 17, 2024 and is yet to be completed. Moreover, AZB & Partners is advising Jaro Institute of Technology Management and Research on its IPO of equity shares aggregating up to Rs5.7 billion (US$67.5m) and an offer for sale by the promoter selling shareholder aggregating up to Rs4 billion  (US$47.4m). Partners Varoon Chandra and Agnik Bhattacharyya are leading the firm’s team in the transaction, which was signed on September 30, 2024 and is yet to be completed. JSA has advised Tech UniApps (India) Services and its founder on UnifyApps’ Series B fundraise round. The Series B round involved investments by incoming investors ICONIQ Capital and Kamath Technology, existing investor Elevation Capital, and UnifyApps’ founder. The firm is also advising UnifyApps on an ongoing basis, including on commercial contracts, corporate compliances and group structuring. UnifyApps is engaged in software and application development, and deals in cloud and artificial intelligence-based software applications. Partner Rishabh Gupta, supported by partner Minu Dwevedi, led the firm’s team in the transaction. K&L Gates has acted as fund counsel to Intudo on the recent closings of Intudo Ventures IV, which has secured total capital...