India
Indian firm Trilegal acted as sole advisor to world shopper web group and tech investor Prosus Ventures, and PayU India in securing unconditional clearance from the Competitors Fee of India (CCI) for the acquisition of IndiaIdeas.com Restricted (BillDesk).
It’s India’s largest-ever digital funds acquisition, and the deal, introduced mid-last yr and valued at $4.7 billion, will make the mixed entity the one of many largest on-line cost suppliers on the earth.
In April, the TCC had requested the events to file a brand new request, addressing a number of issues. In keeping with a press launch from Trilegal, the ICC issued a present trigger discover with their At first look competitors issues.
Trilegal’s crew on the deal was led by the agency’s companion and nationwide head of competitors follow Nisha Kaur Uberoi, its co-head of its company follow Yogesh Singh, and his companion Harsh Jain.
Shardul Amarchand Mangaldas & suggested BillDesk and its founders. The corporate’s head of mergers and acquisitions and personal fairness, Raghubir Menon, and enterprise companions Natashaa Shroff and Shiladitya Banerjee led his recommendation.
AZB & Companions legal professionals, Vaidhyanadhan Iyer and Vipul Jain, suggested promoting shareholders, together with Normal Atlantic, Clearstone Group, Temasek Holdings and Visa.
South East Asia
CMS has reached an settlement which marks the most recent international telecommunications supplier to go away the Myanmar market.
The agency suggested Qatari telecommunications firm Ooredoo in its deal to promote its Myanmar unit for $576 million to Singapore-registered 9 Communications. The settlement is topic to the approval of the Myanmar authorities.
The CMS crew advising Ooredoo was led by London companions Chris Watson, Valentina Santambrogio and Jacqueline Vallat.
The proprietor of 9 Communications is U Nyan Win, a Burmese government specializing within the telecommunications sector. His firm was suggested by the Singapore agency Rajah & Tann, whose predominant companions had been Chester Toh and Hiroyuki Ota in Singapore, and Min Thein in Yangon.
Singapore-based Allen & Gledhill acted as transaction advisor for Oversea-Chinese language Banking Company, CIMB Financial institution Berhad, Singapore Department and Maybank Securities Pte. on a $694 million sustainability-linked mortgage. The beneficiary of the mortgage was DBS Trustee Restricted, in its capability as trustee of OUE Industrial Actual Property Funding Belief and OUE Hospitality Sub-Belief.
The deal, which represents OUE’s first sustainability-linked mortgage, additionally marks the most important sustainability-linked mortgage granted to a Singapore actual property funding belief up to now.
The ability will probably be used to refinance present borrowings of OUE Industrial Actual Property Funding Belief and OUE Hospitality Sub-Belief.
The Allen & Gledhill crew was led by companions Lim Wei Ting and Wong Jie Ning.
Pinsent Masons’ Singapore workplace, Pinsent Masons MPillay, suggested two Asian corporations on their itemizing on the London Inventory Trade.
Led by Nick Hanna and Mark Tan, Director and Co-Head of Pinsent Masons’ Asia Pacific Company Observe, the agency has acted for funding agency Ikigai Ventures Restricted and individually for Singapore-based Fintech Asia Restricted on their lists in London.
Ikigai is reportedly trying to elevate round $2.4m whereas Fintech Asia has raised round $1.7m.
Ikigai Ventures was integrated in 2021 to undertake the acquisition of corporations with excessive constructive social influence as a part of their core enterprise in Asia. Fintech Asia was additionally integrated in 2021, however is targeted on buying companies within the Fintech sector.
Offshore agency Carey Olsen and Hamburg-based Sonderhoff & Einsel Regulation and Patent Workplace acted as Guernsey and Japan counsel to Ikigai, respectively. Ikigai’s itemizing underwriters had been represented by London-based Memery Crystal. The three corporations have additionally taken on the identical roles for the itemizing of FinTech Asia.
hong kong
For Hong Kong capital markets, momentum is slowly accelerating, albeit concentrated in small to medium will increase.
Paul Hastings, Zhong Lun Regulation Agency and Chongqing Sound Regulation Agency suggested Chongqing Hongjiu Fruit Co. in its $72 million preliminary public providing (IPO) on the Hong Kong Inventory Trade.
Hongjiu Fruit manages provide chains for fruits grown in China, Thailand and Vietnam.
Paul Hastings’ crew was led by Raymond Li, the corporate’s president for Higher China, and Hong Kong enterprise companions Vincent Wang and Chaobo Fan.
China Worldwide Capital Company Hong Kong Securities Restricted acted as sole sponsor, and Citigroup International Markets Asia Restricted and UBS AG Hong Kong Department acted as joint world itemizing coordinators. The banks had been represented by Clifford Probability and Fangda Companions.
Paul Hastings’ Li additionally acted in a separate Hong Kong IPO by Chinese language digital well being service supplier Dingdang Well being Expertise Group.
The issuer, which raised $51 million by way of its IPO, was suggested by Clifford Probability, Jingtian & Gongcheng and Maples and Calder.
Clifford Probability’s deal crew was led by Chinese language co-manager Tim Wang and Hong Kong companions Fang Liu and Christine Xu.
Li suggested China Worldwide Capital Company Hong Kong Securities Restricted and CMB Worldwide Capital Restricted as co-sponsors and world co-coordinators. Shanghai-based CM Regulation Agency additionally represented the underwriters.
Additionally in Hong Kong, Davis Polk & Wardwell and Walkers represented Interra Acquisition Company in its $127 million issuance of 100,100,000 Class A shares and 40,040,000 warrants listed on the Hong Kong Inventory Trade .
Interra Acquisition Company is a particular objective acquisition firm (SPAC) integrated that focuses on targets which can be excessive progress corporations working within the modern expertise, shopper and new retail, superior manufacturing, well being and local weather motion.
The Davis Polk crew was led by Hong Kong companions James Lin and Yang Chu.
Grace Huang and Arun Balasubramanian, companions of Freshfields Bruckhaus Deringers in Hong Kong, represented the underwriters.
Mainland China
A crew from Linklaters Hong Kong, led by its Asia Managing Companion William Liu, suggested China’s Ministry of Finance (MOF) on its $428 million sovereign bond subject in Macau.
That is the second RMB sovereign bond subject in Macau after the primary in 2019, on which Linklaters additionally suggested the MOF.
MOF’s newest subject consists of two tranches, a two-year, $285 million 2.2% bond and a three-year, $143 million 2.28% bond.
The bonds will probably be listed on the Chongwa Monetary Belongings Trade (Macau) and cleared by Macau Central Securities Depository and Clearing Restricted (MCSD), making it the primary sovereign bond to be cleared by MCSD since its launch final yr.
Linklaters has suggested MOF since 2009. Earlier this yr, the agency additionally represented MOF on its $1 billion and $713 million Hong Kong authorities bond points.
South Korea
In Seoul, Baker McKenzie represented Asia-focused actual property and funding providers firm, ESR Group Restricted (ESR), as worldwide advisor within the institution of ESR Information Heart Fund I, an actual property fund of personal fairness that can put money into knowledge heart tasks. throughout Asia-Pacific.
The fund raised $1 billion in its first shut, which was suggested by Baker McKenzie. Wong & Leow administrators Derek Kwan and Jens Carle in Singapore.
The agency additionally acted as transaction advisor on ESR’s funding in a three way partnership with US hyperscaler STACK Infrastructure to construct a 48-megawatt knowledge heart in Seoul. This deal was suggested by Baker’s companion in Hong Kong, Rico Chan, and particular counsel Mandy Lan.
In Southeast Asia, Baker McKenzie suggested Singaporean clear vitality options supplier EDPR Sunseap Group on its $284 million acquisition of two photo voltaic PV tasks from Vietnamese renewable vitality developer, Xuan Thien Group.
Each tasks are situated in Thuan Bac district, Ninh Thuan province, Vietnam.
The Baker McKenzie crew was led by Ho Chi Minh Metropolis-based company companion Nguyen Lan Phuong.
