Ashurst has acted as international counsel, advising on both English and Hong Kong laws, to the issuer and guarantor on the issuance of US$200 million 6.5 percent guaranteed bonds due 2023 issued by ITG Holding Investment (HK), unconditionally and irrevocably guaranteed by Xiamen ITG Holding Group. The bonds are listed in the Chongwa (Macao) Financial Asset Exchange, and were cleared through Macao Central Securities Depository and Clearing (MCSD). ITG Holding Investment is a diversified service provider engaged in five main business sectors, namely supply chain, urban construction and operation, consumer and health, financial services and advanced manufacturing businesses. It is a state-owned company established in 1995 under Xiamen Municipal Bureau of Finance, the predecessor of Xiamen SASAC. Partner Jessica Li led the firm’s team in the transaction, which is the largest issuance by a Chinese non-financial institution since the launch of MCSD. AZB & Partners has advised India Infrastructure Fund II, a fund managed by Global Infrastructure Partners India, on the Rs28 billion (US$338m) acquisition by Green Infra Wind Energy, a wholly-owned subsidiary of Sembcorp Green Infra, of 100 percent stake in Vector Green Energy from India Infrastructure Fund II. Partners Zia Mody, Atreya Bhattacharya and Aditya Periwal led the firm’s team in the transaction, which was completed on January 10, 2023. AZB & Partners has also advised Oiltanking and Oiltanking India on the Rs10.5 billion (US$127m) acquisition by Adani Ports and Special Economic Zone of Oiltanking India’s 49.38 percent equity stake in Indian Oiltanking, and Oiltanking’s 10 percent equity stake in IOT Utkal Energy Services. Partner Divya Mundra led the firm’s team in the transaction, which was completed...

Allen & Gledhill has acted as transaction counsel to DBS Bank and Industrial and Commercial Bank of China Singapore Branch on the US$250 million revolving loan facility to Olam Treasury. DBS Bank also acted as the agent for the transaction. Partner Mark Hudspeth led the firm’s team in the transaction. Allen & Gledhill has also acted as transaction counsel to venture capital firm Wavemaker Pacific 4, which led a Series A round investment in Lemonaide, a digital aggregator company based in Southeast Asia providing software solutions for the pre-owned car market. Partner Nicholas Soh led the firm’s team in the transaction. AZB & Partners is advising Cellcure Cancer Centre and Dr Ashish Joshi, Dr Kshitij Joshi, Dr Preetam Kalaskar, Dr Vashista Maniar and Dr Chandrashekhar Pethe on the Rs749 million (US$9m) acquisition of equity stake by Tata Capital Healthcare Fund II in Mumbai Oncocare Centre, a unit of Cellcure Cancer Centre. Tata Capital Healthcare Fund II is registered under the SEBI (Alternate Investment Funds) Regulations 2012 as a Category II Alternate Investment Fund, acting through its trustee, Tata Trustee, represented by Tata Capital, the investment manager. Partners Anand Shah and Shriram Shah are leading the firm’s team in the transaction, which was signed on January 12, 2023 and is yet to be completed. AZB & Partners has also advised Alpine Investors, via its affiliate Helium Acquirer Corporation, on its acquisition of Medusind Holdings and its group companies, including its Indian subsidiary, Medusind Solutions India. Partners Ashwath Rau, John Adwet Raghav and Shivanand Nayak led the firm’s team in the transaction, which was valued at more than US$10 million and was completed on...

Allen & Gledhill has acted as transaction counsel to APAC Realty, a Singapore-listed controlled investee company of Morgan Stanley Private Equity Asia, on the acquisition of an additional 22 percent of the shares in each of ERA Viet Nam Real Estate and Eurocapital, to increase its total stake in each of ERA Vietnam and Eurocapital to 60 percent. ERA Vietnam and Eurocapital both operate real estate brokerage businesses in Vietnam. The maximum consideration payable by APAC is S$15.4 million (US$11.7m), subject to earn-outs. Managing partner Oh Hsiu Hau and partner Tran Thi Phuong Thao led the firm’s team in the transaction. Allen & Gledhill has also advised Vard Vung Tau, a Vietnamese subsidiary of Vard, on the purchase of land use rights over a parcel of land with an estimated area of around two hectares and facilities attached to such land located in Dong Xuyen Industrial Park, Vung Tau City, Vietnam from Southern Petroleum Construction. Vietnam partner Tran Thi Phuong Thao led the firm’s team in the transaction. Allen & Overy has advised the Abu Dhabi Investment Office (ADIO) and the Department of Municipalities and Transport (DMT) in Abu Dhabi on Phase 2 of its Road Lighting public-private partnership project in Abu Dhabi, UAE, which reached commercial close in December 2022. The project will be delivered by Nojoom, a joint venture between Eléctricité de France and ENGIE, and involves the finance, supply, installation, operation and maintenance of 133,473 LED energy-efficient road lights. The project forms part of the wider Abu Dhabi Road Lighting Programme, and will reduce power consumption by 74 percent over a 12-year concession period. The firm also supported ADIO and DMT on earlier phases...

Allen & Gledhill has advised Swire Coca-Cola, a subsidiary of Hong Kong-listed British conglomerate Swire Pacific, on its US$1 billion acquisition of CC Cambodia Holdings and Coca-Cola Indochina from Coca-Cola Japan. CC Cambodia and Coca-Cola Indochina package and distribute the Coca-Cola beverage in Cambodia and Vietnam, respectively. Partners Christian Chin and Nicholas Soh led the firm’s team in the transaction. AZB & Partners has advised Kohlberg Kravis and Roberts & Co on its acquisition of Ness Digital Engineering entities Jersey Holding and Ness Europe Technologies from The Rohatyn Group. Partners Ashwath Rau and Kashish Bhatia led the firm’s team in the transaction, which was completed on December 27, 2022. AZB & Partners has also advised Acuity Knowledge Partners (UK), acting through MT Bidco Consulting Solutions, on its acquisition of Cians Analytics, along with its subsidiaries Cians Analytics Inc and Lever Data. Partner Roxanne Anderson led the firm’s team in the transaction, which was completed on September 12, 2022. Clifford Chance has advised the Export–Import Bank of China, as anchor sponsor, on the US$1 billion target closing of the China-ASEAN Investment Cooperation Fund II. This ASEAN-focused private infrastructure fund will aim to invest across the region in infrastructure and energy resources, with a targeted focus on sustainability and ESG standards. The Export-Import Bank of China is a state-funded and state-owned policy bank with the status of an independent legal entity. Under the direct leadership of the State Council, the bank is dedicated to supporting China’s foreign trade, investment and international economic cooperation. Beijing partner Ying White led the firm’s team in the transaction. IndusLaw has advised SarvaGram and Elevar on the...

AZB & Partners is advising LIC Mutual Fund Asset Management and LIC Mutual Fund Trustee on their acquisition of IDBI Asset Management and IDBI MF Trustee. Partner Rushabh Maniar is leading the firm’s team in the transaction, which was signed on December 29, 2022 and is yet to be completed. AZB & Partners has also advised KKR & Co on its acquisition of 13.3 percent stake in Advanta Enterprises, a subsidiary of UPL, under which UPL shall consolidate its Indian as well as global seeds. Partners Nandish Vyas and Bharat Budholia led the firm’s team in the transaction, which was valued at Rs24.6 billion (US$301m) and was completed on December 16, 2022. Baker McKenzie has advised CapitaLand Investment (CLI), a leading global real estate investment manager with a strong Asia foothold, on its strategic partnership with Ally Logistic Property (ALP) and Pruksa Holding (PSH), to establish a S$1 billion (US$751m) CapitaLand SEA Logistics Fund (CSLF). ALP is a total warehousing solution provider in the Taiwan logistics industry. One of Thailand’s top real estate developers, Thailand-listed PSH primarily develops affordable residential projects, including townhouses, single detached houses and condominiums for all customer groups, notably in Bangkok. CLI, ALP and PSH have committed an initial equity investment of S$270 million (US$202.7m), with an option to increase their investment up to S$540 million (US$405.4m), and a target to achieve assets under management of S$1 billion (US$US$571m). CSLF will develop smart logistics infrastructure to meet the rising demand in Southeast Asia for warehouses. CLI, ALP and PSH will contribute their respective strengths and network in this partnership to grow CSLF’s logistics portfolio in...