Allen & Gledhill has advised Vanguard International Semiconductor (VIS) on its proposed US$7.8 billion joint venture with NXP Semiconductors to build a new 300mm semiconductor wafer manufacturing facility in Singapore. The joint-venture fab will support 130nm to 40nm mixed-signal, power management and analog products targeting the automotive, industrial, consumer and mobile end markets. Partners Richard Young, Zhao Jiawei, Yeo Boon Kiat, Elsa Chen and Peh Aik Hin led the firm’s team in the transaction. Allen & Gledhill has also advised venture capital firm Granite Asia on leading the US$4.5 million Series A+ financing of McEasy, an Indonesia-based logistics management solutions provider. McEasy’s solutions comprise a real-time vehicle tracking software, a transportation management system and a fleet management app, among other features. Partners Julian Ho from Allen & Gledhill and Aris Budi Prasetiyo from AGI Legal led the firm’s team in the transaction. Moreover, Allen & Gledhill has advised venture capital firm Wavemaker Pacific 5 on leading the US$1.8 million seed round investment in iBind Systems, an India-based technology company that solves the problem of slow and unstructured deal cycle closures for banks with their corporate and retail customers. Partner Nicholas Soh led the firm’s team in the transaction. AZB & Partners has advised Hindustan Unilever on its Rs6 billion (US$72m) sale of its water purification business carried under the brand ‘Pureit’ to AO Smith and AO Smith India Water Products. Partners Vaidhyanadhan Iyer, Roxanne Anderson and Aditya Singh Chandel led the firm’s team in the transaction. AZB & Partners has also advised AIRRO (Mauritius) Holdings II, an affiliate of The Rohatyn Group, on the acquisition by Riviera Holdings (DIFC), an affiliate of Brookfield Asset Management,...

Allen & Gledhill has advised DBS Bank on the S$400 million (US$298m) Taskforce on Nature-related Financial Disclosures (TNFD) targets-aligned sustainability-linked revolving credit facility to City Developments. This is a first-of-its-kind transaction with criteria guided by targets set by City Developments in its adoption of TNFD disclosures, and is designed to incentivise its ongoing efforts to achieve significant environmental, social and governance milestones. Partner Daselin Ang led the firm’s team in the transaction. Allen & Gledhill has also advised CIMB Bank Singapore Branch and The Hongkong and Shanghai Banking Corporation on the issue of S$100 million (US$74.6m) fixed rate sustainability-linked guaranteed bonds due 2029 by HSBC Institutional Trust Services (Singapore), as trustee of Sabana Industrial Real Estate Investment Trust (Sabana Industrial REIT). The bonds are unconditionally and irrevocably guaranteed by the Credit Guarantee and Investment Facility (CGIF), a trust fund of the Asian Development Bank. CIMB was appointed sole global coordinator and, together with HSBC, as joint lead managers, joint book-runners and joint sustainability-linked framework structuring advisors to the bonds. The bonds are the first Singapore dollar-denominated CGIF-guaranteed sustainability-linked bonds in Asia, the first listed CGIF-guaranteed bonds aligned to the ASEAN Sustainability-Linked Bond Standards, and the first CGIF-guaranteed bonds issued by an industrial REIT in Asia. The bonds are also Sabana Industrial REIT’s first non-sukuk bond offering.  Partners Margaret Chin, Delwin Singh and Sunit Chhabra led the firm’s team in the transaction. Moreover, Allen & Gledhill has advised Suntec City Development on the implementation and execution of Cooling-as-a-Service (CAAS) arrangements for Suntec City provided by SP Group. The provision of CAAS will enable Suntec City to reduce its carbon emissions by...

  AZB & Partners is advising United Al Saqer Group (UASG), via Freshfields, on its Rs16 billion (US$192m) acquisition of stake in DNEG and its Indian targets, namely Prime Focus Technologies, DNEG India Media Services, Apptarix Mobility Solutions and Prime Focus Academy of Media and Entertainment Studies. Partners Darshika Kothari and Kritika Agarwal are leading the firm’s team in the transaction, which was signed on July 1, 2024 and is yet to be completed. AZB & Partners has also advised Oravel Stays on the Rs4.16 billion (US$50m) acquisition of stake in Oravel Stays by Incred Wealth and Investment Services. Partners Niladri Maulik and Anshuman Vikram Singh led the firm’s team in the transaction, which was completed on July 4, 2024. Moreover, AZB & Partners is advising Rane Holdings on its Rs450m (US$5.4m) acquisition of 51 percent stake in Rane NSK Steering Systems from NSK. Partner Aarthi Sivanandh is leading the firm’s team in the transaction, which was signed on July 1, 2024 and is yet to be completed. Clifford Chance has advised China Merchant Port Holdings (CMP) on the international aspects of its proposed acquisition of a 51 percent controlling stake of Indonesia’s port operator Nusantara Pelabuhan Handal (NPH) from Episenta Utama Investasi (EUI), which will trigger a mandatory tender offer for the remaining shares in NPH held by other eligible public shareholders. Indonesia-listed NPH operates two container terminals in Jakarta’s largest port, Tanjung Priok. The transaction will mark CMP’s market entry into Indonesia, further expanding its port network in South East Asia. Hong Kong-listed CMP is a global port and shipping developer, investor and operator with an extensive network covering...

AZB & Partners has advised Peninsula Land on its Rs7.6 billion (US$91m) acquisition, along with Delta Corp and Alpha Alternatives Fund Advisors, of significant stake in Harborpeak Real Estate. Peninsula Land will contribute its human resources, infrastructure and Intellectual Property know-how to Harborpeak Real Estate. Partners Ashwath Rau, Anand Shah and Kashish Bhatia led the firm’s team in the transaction, which was completed on June 24, 2024. AZB & Partners has also advised Peninsula Land on the Rs1.5 billion (US$18m) acquisition of stake in Peninsula Land by Arsenio Strategies. Partners Ashwath Rau, Anand Shah and Kashish Bhatia also led the firm’s team in the transaction, which was completed on June 24, 2024. Moreover, AZB & Partners has advised Peak XV Partners Investments VIII-1 on its Rs834 million (US$10m) acquisition, along with Elevar Equity and Panthera Peak, of stake in Cloudphysician International. Partners Srinath Dasari and Nanditha Gopal led the firm’s team in the transaction, which was completed on June 14, 2024. A&O Shearman is advising e& enterprise, the digital transformation arm of global technology and investment group e&, on its 100 percent acquisition of GlassHouse, a leading Turkish-based IT infrastructure services company. This move aligns with e&’s strategic ambition to scale e& enterprise, strengthen its digital capabilities and expand its international footprint. This acquisition, which is subject to customary closing conditions, is set to provide e& enterprise entry to the Turkish IT services and cloud market, allowing it to expand its existing solutions to Türkiye, and leverage GlassHouse SAP capabilities in both the UAE and the Kingdom of Saudi Arabia. Established in 2004, GlassHouse Technologies employs more than 150 people and...

Allen & Gledhill has advised DBS Bank, The Hongkong and Shanghai Banking Corporation Singapore Branch, Industrial and Commercial Bank of China Singapore Branch and Oversea-Chinese Banking Corporation on the issue of S$250 million (US$185m) green notes due 2027 under the S$2 billion (US$1.48b) multicurrency debt issuance programme established by OUE REIT Treasury. DBS, HSBC Singapore and OCBC were appointed joint lead managers and book-runners of the notes, while ICBC Singapore was appointed joint lead manager and book-runner (no book). OCBC was also appointed sole global coordinator of the notes, as well as green finance adviser to OUE REIT for the offering of the notes. The net proceeds raised from the issue of the notes will be applied exclusively to finance or re-finance, in whole or in part, new or existing eligible green projects that meet one or more of the categories of eligibility, as recognised in the Green Bond Principles and Green Loan Principles, in accordance with the Green Financing Framework established by OUE REIT. Partners Margaret Chin and Sunit Chhabra led the firm’s team in the transaction. Allen & Gledhill has also advised Oiltanking Group on its divestment of Oiltanking Karimun to Novus Middle East DMCC. In connection with the divestment, Oiltanking Finance, a wholly-owned finance company of Oiltanking, transferred all rights in a loan it extended to Oiltanking Karimun to Novus Middle East DMCC. Allen & Gledhill partner Oh Hsiu-Hau and AGI Legal partners Kevin Omar Sidharta, Elsie F Hakim and Aris Budi Prasetiyo led their respective firm’s team in the transaction. Moreover, Allen & Gledhill has advised ClavystBio Investments, which co-led the US$14.5 million financing round...