Firms advise on Shiseido JV
Clifford Chance advised private equity and investment advisory firm CVC Capital Partners on multijurisdictional merger filings for its USD1.5 billion joint venture with Japanese multinational cosmetic company Shiseido. White & case advised CVC on the financing, and Davis Polk advised Shiseido.
Korea’s DHIC goes nuclear
Yoon & Yang advised Doosan Heavy Industries and Construction (DHIC) in a USD60 million investment in NuScale Power, a US nuclear power plant manufacturer. In addition to DHIC’s initial investment of USD44 million in 2019 with other Korean investors, the funding has raised the total investment to USD104 million.
Lee & Ko assists green bond
Lee & Ko advised South Korean chemical company LG Chem on a USD1 billion global green bond issuance in two tranches: USD500 million with a five-year maturity; and USD500 million with a 10-year maturity. Both tranches had fixed interest rates, with the five-year maturity tranche having an interest rate of 1.48% per annum after adding 0.6% to the five-year US Treasury yield of 0.88%, and the 10-year maturity tranche having an interest rate of 2.38% per annum after adding 0.9 % to the 10-year US Treasury yield of 1.48%.
BCLP adds Korea head
Bryan Cave Leighton Paisner has hired real estate lawyer Kwon Lee as a partner and global head of Korea practice in the New York office. He joined from Mayer Brown in New York, where he was a partner and co-head of the US Asia real estate practice and global head of Korea practice for more than six years.
White & Case recruits four
White & Case has hired capital markets lawyer Margie Chan in Hong Kong, international arbitration lawyer Lee Carroll in Melbourne, and project lawyers Chris Flynn and Tim Kennedy in Sydney. All four are partners.
Skadden guides Xiaomi offering
Skadden advised global tech company Xiaomi in the USD1.2 billion debt offering by a subsidiary of Xiaomi in two tranches on the Stock Exchange of Hong Kong. Xiaomi will issue USD400 million aggregate principal amount of 4.1% senior green bonds due 2051, and USD800 million aggregate principal amount of 2.875% senior bonds due 2031. The Hong Kong-based team was led by corporate partners Julie Gao, Edward Lam and Paloma Wang.
CCRS places private call
China Customer Relations Centres (CCRS), a Nasdaq-listed call centre business process outsourcing service provider in China, went private by way of merger with a British Virgin Islands (BVI) company, Taiying International. Hogan Lovells and Carey Olsen acted as legal counsel to the special committee of the board of directors of CCRS. Haneberg Hurlbert was US legal counsel and Campbells was the BVI counsel to CCRS. Harneys and Chinese firm Commerce & Finance Law Offices assisted Taiying. King & Wood Mallesons (KWM) advised China Merchants Bank as the lender to Taiying.
CMS hires HK finance lawyer
CMS has hired structured finance lawyer Christopher Whiteley as a partner in its finance group in Hong Kong and its established capital markets and derivatives practice. Whiteley joined from Ashurst, where he was a partner for 15 years. He specialises in structured finance and advises financial institutions concerning hedging, trading activities and complex strategic and funding transactions.
Norton Rose hires partner
Norton Rose Fulbright has hired Andrew Digges as a partner in its projects practice in Singapore. He joined from Ashurst where he was also a projects partner in Singapore. Digges has more than 20 years’ experience in project finance and project development, focusing on the energy, renewables, transport, utilities and social infrastructure sectors. He also has in-depth knowledge of the Indonesian market, having worked in Jakarta for five years.
Former SIAC head sets ELF
The former South Asia head of the Singapore International Arbitration Centre (SIAC), Pranav Mago, has established ELF Partners, a specialist litigation finance consultancy firm in Singapore. Apart from connecting litigants to funders, the firm does initial due diligence on matters by evaluating the legal merits of cases, quantum analysis of claim amounts, and investigations into the other side’s assets, to make a consolidated pitch to the funder.
ICC arbitrator joins 39 Essex
39 Essex Chambers has appointed Abhinav Bhushan to the new role of chief executive for Asia, and will be based in the Singapore office at Maxwell Chambers. Bhushan joined from Paris-based International Chamber of Commerce (ICC) International Court of Arbitration, where he was director for South Asia in the Singapore office for more than five years. He joined the ICC International Court of Arbitration in 2012 as deputy counsel before being promoted to director in 2016.
Stephenson adds arbitrator
Stephenson Harwood has hired international arbitration partner Chris Bailey, who will relocate from the firm’s London office to Singapore in due course. He joined from King & Spalding, where he was a partner in the Tokyo office for almost six years. Bailey has 20 years of expertise in arbitration, mediation, litigation, and criminal and regulatory investigations.
Linklaters in Thai IPO
Linklaters advised Ngern Tid Lor (Tidlor), a Thai microfinance company controlled by the Bank of Ayudhya, on its IPO and listing of shares on the Stock Exchange of Thailand. The firm also advised Siam Asia Credit Access and the Bank of Ayudhya, the major shareholders of Tidlor, on the sale of a portion of their existing shares. The team was led by partners Pornpan Chayasuntorn and Pichitpon Eammongkolchai in Bangkok, and partner Ahn Hyung in Hong Kong.
Ashurst hires Jakarta partner
Ashurst’s associate firm in Indonesia, Oentoeng Suria & Partners, has hired Dion Alfadya as a partner in its corporate practice in Jakarta. Alfadya joined from Allen & Overy in Jakarta, where he was a counsel and associate for more than six years. He has 15 years of experience specialising in M&A, joint ventures, fundraisings, strategic collaborations and investments.
VILAF aids bond offer
Vietnam firm VILAF advised Credit Suisse (Singapore) as sole global co-ordinator and bookrunner in the USD300 million offering of convertible bonds due 2026 by Vietnamese real estate company Novaland Group, to be listed on the Singapore Stock Exchange. Founding partner Tran Tuan Phong led the team in Hanoi with the help of counsel Nguyen Lam and senior associate Tu Anh.
Malaysian JV sale
Linklaters advised AXA and Affin Bank in Malaysia on their sale of joint ventures AXA Affin General Insurance (AAGI) and AXA Affin Life Insurance (AALI) to Italian insurance company Generali for MYR688 million (USD165 million). Wong & Partners, a member firm of Baker McKenzie in Malaysia, advised Generali.
Dispute partner joins Holman
Holman Fenwick Willan (HFW) has hired international arbitration partner Jo Delaney in Sydney. She joined after eight years of practising with Baker McKenzie as a partner and special counsel. Delaney has more than 20 years of experience advising on cross-border disputes in the construction, energy and infrastructure sectors.
Baker guides VNLife funding
Baker McKenzie assisted Vietnam-based payments provider VNLife in raising USD250 million in a series B funding. The team was led by partner Nguyen Oanh Hoang Kim in Ho Chi Minh City, with the help of senior associate Daniel Ngo Thai Ninh in Hanoi and associate Ngo Chi Hoang Yen in Ho Chi Minh City.