Allen & Gledhill has advised DBS Bank, Malayan Banking Singapore Branch, Oversea-Chinese Banking Corporation, Sumitomo Mitsui Banking Corporation Singapore Branch and United Overseas Bank, as mandated lead arrangers and book-runners and green loan coordinators, on the approximately S$2.185 billion (US$1.64b) term loan facilities to Boulevard Development and Boulevard Midtown, companies sponsored by IOI Properties Group, to finance the acquisition and construction of a mixed use development comprising residential and hotel components at Marina View Singapore. Partners Lim Wei Ting and Ernest Teo led the firm’s team in the transaction. Allen & Gledhill has also advised EC World Real Estate Investment Trust and its trustee DBS Trustee on the S$348.9 million (US$261m) offshore facility agreement and Rmb745.5 million (US$104m) onshore facility agreement on obtaining secured term loan facilities. Partner Ong Kangxin led the firm’s team in the transaction. Moreover, Allen & Gledhill has advised DBS Bank and United Overseas Bank, as arrangers and green loan coordinators, on the S$270 million (US$202m) term loan and revolving credit facilities to STT Loyang, a company sponsored by STT GDC, to refinance existing borrowings relating to its data centre located at 1 Loyang Close. Partners Lim Wei Ting and Ernest Teo led the firm’s team in the transaction. Allen & Overy has advised Hub71, Abu Dhabi’s unique global tech ecosystem, on the development of its incubator investment framework for the intake of the latest cohort of start-ups joining its company-building programme. Hub71 welcomed 15 new ventures to their community, operating in priority sectors aligned with Abu Dhabi’s strategic ambitions, such as fintech, healthtech, proptech, e-commerce, data science, edtech and cyber security. The addition of the...

  AZB & Partners has advised Accenture Solutions on its acquisition of 100 percent equity share capital of Flutura Business Solutions. Partners Srinath Dasari and Nanditha Gopal led the firm’s team in the transaction, which was completed on June 21, 2023. AZB & Partners has also advised WWD Ruby on its Rs4.17 billion (US$51m) sale of equity shares of Sapphire Foods India. Partners Varoon Chandra and Lionel D’Almeida led the firm’s team in the transaction, which was completed on June 28, 2023. Moreover, AZB & Partners has advised Bain Capital entities BC Asia Investments III, BC Asia Investments III and Integral Investments South Asia IV on their Rs21.78 billion (US$265.6m) sale of equity stake of Axis Bank. Partners Anil Kasturi and Nandita Govind led the firm’s team in the transaction, which was completed on June 15, 2023. Further, AZB & Partners has advised Alpine Investors on the acquisition by Medusind Solutions (as the US acquirer) and Medusind Solutions India (as the India acquirer) of Bright Drive HCS LLC (as the US seller) and Bright Drive HCS Private Limited (as the India seller), respectively. Partners Ashwath Rao and John Adwet Raghav led the firm’s team in the transaction, which was completed on May 12, 2023. Baker McKenzie is advising Prenetics Global, a leading genomics-driven health sciences company listed on Nasdaq, on the creation of a US$200 million joint venture named “Insighta” with globally renowned scientist Professor Dennis Lo to offer multi-cancer early detection screening. Insighta is expected to begin a multi-country 5,000-patient clinical trial of its breakthrough test, Presight, in early 2024. The initial Presight tests, which focus on liver and lung cancer, are set to...

AZB & Partners is advising Housing Development Finance Corporation (HDFC) on the Rs110.64 billion (US$1.35b) acquisition by Kopvoorn, a part of the BPEA EQT group, and ChrysCapital group entities Moss Investments, Defati Investments Holding and Infinity Partners of HDFC Credila Financial Services from HDFC and HDFC Bank. Partners Nandish Vyas, Varoon Chandra, Ajay Solanki and Nishanth Ravindran are leading the firm’s team in the transaction, which was signed on June 19, 2023 and is yet to be completed. AZB & Partners has also advised FIH Mauritius Investments on its US$250 million acquisition of 10 percent equity stake in Bangalore International Airport from Siemens Project Ventures. Partners Darshika Kothari, Divya Mundra and Shivanand Nayak led the firm’s team in the transaction, which was completed on June 21, 2023. Moreover, AZB & Partners has advised Tata Motors Finance and Tata Motors Finance Solutions on the demerger of the non-banking finance-related business of Tata Motors Finance to Tata Motors Finance Solutions. In its order dated May 12, 2023, the NCLT sanctioned the scheme of arrangement. Partners Gautam Ganjawala and Karthik Mudaliar led the firm’s team in the transaction, which was valued at more than US$50 million. Further, AZB & Partners has advised FIH Mauritius Investments on its Rs2.5 billion (US$30.5m) sale of shares of IIFL Finance. Partners Darshika Kothari and Divya Mundra led the firm’s team in the transaction, which was completed on June 16, 2023. Clifford Chance has advised Mitsui & Co on its ¥20 billion (US$139m) acquisition of a partial stake in Italian food business Euricom, one of Europe’s biggest producers and suppliers of rice, processed rice products, pulses and...

AZB & Partners has advised Alter Domus on the acquisition by Alter Domus Data Solutions of Solvas from Deloitte & Touche. Partner Vasudha Asher led the firm’s team in the transaction, which was completed on May 10, 2023. AZB & Partners has also advised JMAN Digital Services and JMAN Group on the acquisition of 100 percent shareholding of JMAN Digital Services by JMAN Group. Partners Srinath Dasari and Bhuvana Veeraragavan led the firm’s team in the transaction, which was completed on May 26, 2023. Moreover, AZB & Partner has advised LAI Investment Manager, a joint venture of Logos and Ivanhoe Cambridge, on the acquisition by Asia Pacific logistics real estate major Logos and its venture partner Ivanhoe Cambridge from Foton Motors Manufacturing India of a 77-acre industrial land parcel in Pune’s Chakan industrial area to develop a large-scale logistics park. Partner Ananya Sharma led the firm’s team in the transaction, which was completed on May 23, 2023. Further, AZB & Partner has advised JM Financial Institutional Securities, as the broker, on Sequoia’s sale via India’s stock exchanges of Go Fashion India’s equity shares. Sequoia sold its shareholding in the company, aggregating to approximately 5.5 million equity shares, representing 10.18 percent of Go Fashion’s total issued and paid-up capital, with face value of Rs10 (US$0.122) each, at a sale price of Rs1,136.10 (US$13.84) per equity share. Partners Varoon Chandra and Lionel D’Almeida led the firm’s team in the transaction, which settled on June 13, 2023. Baker McKenzie has advised Subway, one of the world’s largest restaurant brands, on its new master franchise agreement with Shanghai Fu-Rui-Shi Corporate Development (FRS) to significantly expand...

Allen & Gledhill has advised Bayfront Infrastructure Management on the issue of US$500 million 4.257 percent notes due 2026, guaranteed by the Government of Singapore. The Hongkong and Shanghai Banking Corporation Singapore Branch and Standard Chartered Bank (Singapore) were appointed joint lead managers of the notes. Partners Yeo Wico, Jeanne Ong and Sunit Chhabra led the firm’s team in the transaction. AZB & Partners has advised Olive Vine Investment, an affiliate of Warburg Pincus, and Avanse Financial Services on the Rs8 billion (US$97m) acquisition by Kedaara Capital Growth Fund III of 15.3 percent stake in Avanse Financial Services. The first tranche of the acquisition was completed on January 19, 2023, while the second tranche was completed on May 24, 2023. Partner Vaidhyanadhan Iyer led the firm’s team in the transaction. AZB & Partners has also advised Clean Max Enviro Energy Solutions and its founder, Mr Kuldeep Jain on the Rs28 billion (US$340m) acquisition of 51 percent of equity stake by BGTF One Holdings (DIFC) in Clean Max Enviro Energy from Augment India I Holdings, DSDG Holding APS, UK Climate Investments Apollo, Founder and Mrs Nidhi Jain. Partners Niladri Maulik, Harsh Kabra, Anuja Tiwari, Mallika Anand and Hemangini Dadwal led the firm’s team in the transaction, the first closing of which was completed on May 25, 2023. Moreover, AZB & Partners has advised Trelleborg Holding AB on the acquisition by Trelleborg Group, through Trelleborg Holding AB & Trelleborg AB, of 100 percent shareholding of Moldura Tech. Partners Bhuvana Veeraragavan, Aditya Singh Chandel and Gautam Rego led the firm’s team in the transaction, which was completed on May 25, 2023. Further, AZB & Partners has advised Air India Express and AIX Connect...