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China

Firm

Deal

Value

Client

Lawyer(s) involved

Latham & Watkins

Vipshop Holdings’ issuance of Class A ordinary shares and its concurrent entry into business cooperation arrangements

Approximately $604 million (Tencent)
Approximately $259 million (JD.com)

Vipshop Holdings

Partner
Frank Sun

Counsel
Dominik Sklenar

Associates
Richard Han
Kirsten Gao

Paul, Weiss, Rifkind, Wharton & Garrison

Vipshop Holdings’ issuance of Class A ordinary shares and its concurrent entry into business cooperation arrangements

Approximately $604 million (Tencent)
Approximately $259 million (JD.com)

Tencent

Partners
Jeanette Chan
Tong Yu

Counsel
Pual Donnelly

Davis Polk & Wardwell

iClick Interactive Asia’s IPO

$27.5 million

Roth Capital Partners (representative of several underwriters)

Partner
James C. Lin

Registered foreign lawyers
Xuelin (Steve) Wang
Richard Corbett

Counsels
Terrence R. O’Donnell
Alon Gurfinkel
Marcie A. Goldstein

Associate
Veronica Orecharova

Davis Polk & Wardwell

Proposed merger between Tongcheng Network Technology and China E-dragon Holdings

Undisclosed

Tongcheng Network Technology

Partners
Li He
Howard Zhang
Bonnie Y. Chan

Counsels
Lijun (Annie) Yan
Peter Cheng
Stephanie Fung

Baker McKenzie FenXun

Shui On Land’s sale of stakes in Shanghai’s commercial real estate portfolios to further its strategic partnership with the China Life Group

3.87 billion yuan
(approximately $593.9 million)

Shui On Land

Partners
Alex Gong
Rico Chan

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Hong Kong

Firm

Deal

Value

Client

Lawyer(s) involved

Colin Ng & Partners

Shuang Yun Holdings’ global offering on the Main Board of Hong Kong Stock Exchange

HK$113.6 million
(approximately $14.5 million)

Shuang Yun Holdings

Partners
Tan Min-Li
Stephen Soh

Associate
Ge Xiaomeng

Hogan Lovells

Fineland Real Estate Service Group’s IPO and listing on the Growth Enterprise Market

HK$79 million
(approximately $10 million)

RaffAello Capital
RaffAello Securities

Partner
Nelson Tang

Associates
Jeffrey Lee
Jessica Shing

Sidley Austin

CIFI Holdings’ issuance of senior perpetual capital securities

$300 million

CIFI Holdings

 

Davis Polk & Wardwell

CIFI Holdings’ issuance of senior perpetual capital securities

$300 million

HSBC, Standard Chartered Bank, Credit Suisse and Haitong Internation

Partner
William F. Barron

Counsels
Gerhard Radtke
Alon Gurfinkel

Associate
Kelli A. Rivers
Registered foreign lawyer

Tae-Hun Kim

Maples and Calder

CIFI Holdings’ issuance of senior perpetual capital securities

$300 million

CIFI Holdings

Partner
Lorraine Pao

Paul, Weiss, Rifkind, Wharton & Garrison

Pure group’s investment partnership with FountainVest Partners and Ontario Teachers' Pension Plan

Undisclosed.(estimated $400 million)

Ontario Teachers’ Pension Plan

Partner
Betty Yap

Baker McKenzie

Pure group’s investment partnership with FountainVest Partners and Ontario Teachers' Pension Plan

Undisclosed.(estimated $400 million)

Pure Group

Partner
Tracy Wut

Kirkland & Ellis

Pure group’s investment partnership with FountainVest Partners and Ontario Teachers' Pension Plan

Undisclosed.(estimated $400 million)

Consortium comprising FountainVest Partners and Ontario Teachers' Pension Plan

Partners
Nicholas Norris
Derek Poon

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India

Firm

Deal

Value

Client

Lawyer(s) involved

AZB & Partners

SB Group’s acquisition stakes in Flipkart

160.2 billion rupees
($2.5 billion)

SoftBank Group

Partner
Samir R. Gandhi

Associates
Rahul Satyan
Aditi Gopalakrishnan

AZB & Partners

Acquire Services Private  and IGE’s offer for sale of stakes in InterGlobe Aviation

12.65 billion rupees
($197 million)

Acquire Services
IGE (Mauritius)

Partners
Ajay Bahl
Madhurima Mukherjee
Agnik Bhattachharyya

AZB & Partners

Bain Capital and Capital Group’s acquisition of Axis Bank’s shares and convertible warrants

68.5 billion rupees
(approximately $1.6 billion)

Bain Capital

Partners
Anil Kasturi
Nandita Govind
Samir Gandhi

Luthra & Luthra

Krishna Institute of Medical Sciences and ICICI Venture Funds’ IPO

Undisclosed

Krishna Institute of Medical Sciences (KIMS)
ICICI Venture Funds Management Company (ICICI Venture)

Partners
Vishal Yaduvanshi
Manshoor Nazki

Associates
Sanjana Tikkoo
Puneet Passi
Anshul Roy

Shardul Amarchand Mangaldas & Co.

Carlyle Group’s acquisition of majority controlling stake in VCRM

 

Visionary RCM Infotech (VCRM)

Partner
Abhishek Guha

Associates
Ekta Tyagi
Aditi Tralshawala
Keegan Pavrey

AZB & Partners

Xander’s sale of stakes in Sadbhav Infrastructure Projects

4 billion rupees
(approximately $86 million)

Xander Investments Holding XVII

Partners
Hardeep Sachdeva
Abhishek Awasthi

Associate
Gautam Kumar Bhargava

AZB & Partners

Bharti Airtel and Bharti Hexacom’s consumer business merger withTata Teleservices

Undisclosed

Bharti Airtel

Partners
Gautam Saha
Sachin Mehta
Abhinav Ashwin
Amrita Patnaik

AZB & Partners

IndusInd (IBL)’s and Bharat Financial Inclusion (BFIL)’s financial merger

155 billion rupees
($2.4 billion)

BFIL

Partner
Samir R Gandhi

Associate
Aditi Gopalakrishnan

AZB & Partners

Lotte Confectionery’s acquisition of Havmor Ice Cream

9.7 billion rupees
($152.5 million)

Lotte Confectionery

Partners
Alka Nalavadi
Nilanjana Singh

AZB & Partners

Kedaara’s acquisition of additional stake of Spandana Sphoorty

1.25 billion rupees
($19.5 million)

Kedaara Capital

Partners
Ashwin Ramanathan
Rinki Ganguli

AZB & Partners

Canada Pension Plan’s acquisition of stakes in ADB

Undisclosed -- in excess of $10 Million

Asian Development Bank

Partner
Ananya Sharma

AZB & Partners

Cisco’s acquisition of cmpute.io (also known as 47Line Technologies)

Undisclosed

Cisco Systems

Partners
Gautam Saha
Dushyant Bagga

J. Sagar Associates

Issue of guaranteed bonds

$125 million

Lodha Developers

Partners
Dina Wadia
Varghese Thomas
Uttara Kolhatkar

Associates
Shrijita Bhattacharya
Rishabh Jain

AZB & Partners

CPPIB’s acquisition of Asian Development Bank’s  stakes in Renew Power Ventures

In excess of $10 million

Canada Pension Plan Investment Board (CPPIB)

Partner
Ashwin Ramanathan
Roxanne Anderson

Associate
Palaq Vora

AZB & Partners

CPPIB’s acquisition of Asian Development Bank’s  stakes in Renew Power Ventures

In excess of $10 million

Canada Pension Plan Investment Board (CPPIB)

Partner
Samir R Gandhi

Associates
Rahul Satyan
Shivanghi Sukumar
Gaurav Bansal
Nikita Agarwal
Rhea Srivastava

AZB & Partners

Havell India’s sale of stakes in FML to Inesa UK
Havell India’s sale of its entire stake in HS Thailand to Feilo

2.76 billion rupees
($43.1 million)

Havells India and its affiliates/ subsidiaries

Partners
Hardeep Sachdeva
Priyamvada Shenoy

Associate
Devina Gupta

J. Sagar Associates

Reliance Infrastructure’s sale of its entire stake in Mumbai Power Division to Adani Transmission

Rs. 18,800 crore
(approximately $ 2.9 billion)

Reliance Infrastructure

Partners
Dina Wadia
Manav Raheja

Associates
Arup Pereira
Ronak Shah

J. Sagar Associates

Carlyle’s acquisition of significant majority stake in Visionary RCM

Undisclosed

The Carlyle Group

Partners
Vikram Raghani
Pallavi Puri

Associates
Bir Bahadur Singh Sachar
Suren Sundaram
Sahana Chandrika
Bharath Sridhar
Kayal Manivanan
Nidhi Juthani

J. Sagar Associates

Indian Renewable Energy Development Agency’s  (IREDA) proposed IPO

Undisclosed

Yes Securities (India)
Elara Capital (India)
IDBI Capital Markets & Securities
SBI Capital Markets

Partners
Vikram Raghani
Arka Mookerjee

Associates
Pracheta Bhattacharya
Rushab Dhandokia
Ananth Balaji
Bharat Mordani
Harsh Loonker

J. Sagar Associates

Reliance Communications, Reliance Telecom and Reliance Infratel’s debt restructuring

Undisclosed

Joint lenders forum (JLF) convened by the State Bank of India

Partners
Dina Wadia
Soumitra Majumdar

Associates
Kartikeya Dar
Rishab Jain

Khaitan & Co

Reliance Jio’s acquisition of Reliance Communications’ telecommunication assets

Undisclosed

Reliance Jio Infocomm (RJIL),

Partners
Haigreve Khaitan
Rahul Dutt

Associate partner
Sameer Sah

Associate
Aashutosh Sampat

AZB & Partners

Corporate restructuring of IGE, InterGlobe Real Estate Ventures, InterGlobe Business Solutions and Acquire Services

In excess of 15.9 billion rupees
($250 million)

InterGlobe Enterprise  (IGE)

Partners
Ajay Bahl
Vinati Kastia
Vijayendra Pratap Singh
Ravi Prakash
Abhinav Ashwin

Associates
Bharat Apte
Anant Dang

AZB & Partners

Abu Dhabi Investment Authority’s acquisition of minority stake in Cube Highways and Infrastructure

20 billion rupees
($300 million)

Cube Highways and Infrastructure

Partner
Yashwant Mathur

Associates
Esha Pruthi
Abhyudai Singh

AZB & Partners

Altico’s investment in Supertech’s Noida project

4.3 billion rupees
($67.1 Million)

Altico Capital India

Partners
Hardeep Sachdeva
Ravi Bhasin
Abhishek Awasthi

AZB & Partners

LT Foods’ IPO

3.99 billion rupees
($62.2 million)

LT Foods

Partners
Madhurima Mukherjee
Agnik Bhattacharyya

J. Sagar Associates

Indian Railway Finance raised green bonds

$500 million

Indian Railway Finance

Partners
Dina Wadia
Uttara Kolhatkar

J. Sagar Associates

Reliance Industries issued senior unsecured fixed rate notes due 2027

$800 million

 

Partners
Dina Wadia
Uttara Kolhatkar

Associate
Shrijita Bhattacharya
Rishabh Jain

Khaitan & Co

Delivery Hero’s sale of its entire stake in Foodpanda to ANI Technologies (Ola)

Undisclosed

Delivery Hero
Foodpanda

Director
Ketan Kothari

Counsel
Stuti Galiya
Shailendra Bhandare

Associates
Bidya Mohanty
Varun Narayan
Urvashi Mehta
Sourav Dan

Khaitan & Co

Future Supply Chain Solutions’ IPO

6,496.95 million rupees
(approximately $102 million)

Future Supply Chain’s lead managers

Executive director
Sudhir Bassi

Associate partner
Thomas George

Senior associate
Kirti Krishna

Associates
Suman Prabhu Prathiksha Panduranga

AZB & Partners

Electronic Payment Solutions’ acquisition of NCR’s certain assets and contracts

555.14 million rupees
($8.7 million)

NCR Corporation India

Partners
Ashwin Ramanathan
Puneet Parihar

Associate
Pallavi Satpute
Associate

AZB & Partners

Mount Kellett’s sale of stakes in Medplus

6.4 billion rupees
($100 million)

Mount Kellett

Partners
Darshika Kothari
Divya Mundra

Associate
Shwetank Ginodia

AZB & Partners

Bandhan Bank’s IPO

Confidential

International Finance Corporation (IFC) and IFC FIG Investment Company I (IFC FIG)

Partners
Madhurima Mukherjee
Gautam Saha
Pallavi Meena

Associate
Namita Das

Davis Polk & Wardwell

Reliance Jio’s acquisition of Reliance Communications’ telecommunication assets

Undisclosed

Reliance Jio Infocomm (RJIL),

Partners
Jeffrey R. O’Brien
Leo Borchardt

Associate
Adam H. Whitaker

AZB & Partners

Infosys’ acquisition of stakes through repurchase

130 billion rupees
($2 billion)

Infosys

Partners
Sai Krishna Bharathan
Sugandha Asthana
Harsh Maggon

Associates
Palaq Vora

AZB & Partners

Patel Infrastructure’s IPO 

Approximately 4 billion rupees
(approximately $62.8 million)

Book running lead managers:
SBI Capital Markets ; and
IIFL Holdings .

Partners
Varoon Chandra
Lionel D’Almeida

Senior associates
Richa Choudhary
Pamela Kar

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Indonesia

Firm

Deal

Value

Client

Lawyer(s) involved

Baker McKenzie

MUFG’s cross-border strategic investment into PT Bank Danamon Indonesia Tbk

estimated $6 billion

Mitsubishi UFJ Financial Group (MUFG)

Partners
Erwandi Hendarta
Mahardikha Sardjana
Indah Respati
Junya Ae

Principals
Min-tze Lean
Alex Tan

Associates
Bernadeta Tyassita
Eddie Dewanda
David Yong
Heidi Shum
Michio Suzuki

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Malaysia

Firm

Deal

Value

Client

Lawyer(s) involved

Wong & Partners

Ekuiti Nasional Berhad’s acquisition of Davex (Malaysia)

255 million ringgit
(approximately $63.6 million)

Alliance Holding Company

Partners
Stephanie Phua
Brian Chia

Associates
Daniel Tan
Siew Yen Tai

Skrine

Ekuiti Nasional Berhad’s acquisition of Davex (Malaysia)

255 million ringgit
(approximately $63.6 million)

Ekuity Nasional Berhad

 

Wong & Partners

Laureate Education’s sale of its entire stake in INTI University and Colleges

$180 million

Affinity Equity Partners

Partners
Andre Gan
Stephanie Phua
Associate
Daniel Tan

Linklaters

Laureate Education’s sale of its entire stake in INTI University and Colleges

$180 million

Affinity Equity Partners

 

DLA Piper

Laureate Education’s sale of its entire stake in INTI University and Colleges

$180 million

Laureate Education

 

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Singapore

Firm

Deal

Value

Client

Lawyer(s) involved

Allen & Gledhill

Cache Logistics Trusts’ establishment of multicurrency debt issuance programme

S$1 billion
(approximately $749.4 million)

DBS Bank Ltd
The bank of New York Mellon (Singapore)
Bank of New York Mellon (Luxembourg)

Partners
Margaret Chin
Magdalene Leong
Sunit Chhabra

Allen & Gledhill

Issuance of covered bonds under DBS Bank’s $10 billion Global Covered Bond Programme

500 million euro
(approximately $597.9 million)

DBS Bank Ltd.

Partners
Magdalene Leong
Andrew Chan
Hoo Sheau Farn
Evan Lam
Sunit Chhabra

Allen & Gledhill

Q & M Dental Group’s establishment of multicurrency debt issuance programme

S$500 million
(approximately $374.7 million)

DBS Bank Ltd. (DBS)
Oversea-Chinese Banking Corporation  (OCBC)
United Overseas Bank  (UOB).

Partners
Margaret Chin
Sunit Chhabra

WongPartnership

Re-financing of Millenia Tower Investments’ outstanding debt and general working capital

S$700 million
(approximately $524.6 million)

DBS Bank Ltd
Oversea-Chinese Banking Corporation
Sumitomo Mitsui Banking Corporation (Singapore)
The Hong Kong Shanghai Banking Corporation
United Overseas Bank

Partners
Suan Wong
Dorothy Marie Ng
Hui Choon Yuen
Serene Soh
Felix Lee

WongPartnership

COSCO Shipping’s voluntary conditional cash offer for all the issued ordinary shares in Cogent Holdings

Approximately S$488 million
(approximately $365.7 million)

Cogent Holdings

Partners
Ng Wai King
Andrew Ang
Anna Tan

Drew & Napier

COSCO Shipping’s voluntary conditional cash offer for all the issued ordinary shares in Cogent Holdings

Approximately S$488 million
(approximately $365.7 million)

COSCO Shipping International Singapore

Directors
Steven Lo
Julian Kwek
Renu Menon
Tan Teng Sen
Ong Ken Loon

Senior associate
Eugene Luah
Victoria Tan

Associates
Tan Jin Wei
Samuel Loo
Monique Koh

WongPartnership

Grant of financing to Gardens Development’s for proposed condominium project at Serangoon North

S$448 million
(approximately $335.7 million)

Oversea-Chinese Banking Corporation
United Overseas Bank

Partners
Christy Lim
Angela Lim
Felix Lee

WongPartnership

Jacobs Douwe Egberts’ takeover offer OldTown Berhad

Undisclosed

OldTown Berhad

Partners
Andrew Ang
Audrey Chng

Foong & Partners

Jacobs Douwe Egberts’ takeover offer OldTown Berhad

Undisclosed

OldTown Berhad

Partners
Dato’ Foong Chee Meng
Chong Siew Mun
Leong Wai Lun

Allen & Gledhill

Macquarie Infrastructure’s acquisition stakes in Oiltanking Odfjell Terminal

$300 million

Macquarie Infrastructure and Real Assets

Partners
Andrew M. Lim
Christian Chin
Daren Shiau
Scott Clements
Hoo Sheau Farn

Drew & Napier

ComfortDelGro’s acquisition of controlling stakes in Uber Singapore’s car rental subsidiary

S$295 million (approximately $221 million)

ComfortDelGro Corporation

Directors
Petrus Huang
Lim Chong Kin
Corinne Chew

Assistant head
Poh Lip Hang

Senior associate
Michael Kwan

Associates
Joanne Yong
Lau Zhong Ning
Bryan Chua

WongPartnership

Rowsley’s acquisition of Sasteria

Up to S$1.6 billion
(approximately $1.2 billion)

Peter LIM Eng Hock

Partners
Andrew Ang
Kyle Lee

Chang See Hiang & Partners

Rowsley’s acquisition of Sasteria

Up to S$1.6 billion
(approximately $1.2 billion)

Rowsley

 

WongPartnership

Pacific International Lines’ intermediated refinance of bonds in the Singapore bond market.

S$60 million
(approximately $45 million)

Pacific International Lines

Partners
Hui Choon Yuen
Trevor Chuan

Allen & Gledhill

Jardine Cycle & Carriage’s acquisition stakes in Vietnam Dairy Products

$1.15 billion
(approximately $861.8 million)

Jardine Cycle & Carriage

Partners
Lim Mei
Hilary Low

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Thailand

Firm

Deal

Value

Client

Lawyer(s) involved

Latham & Watkins

Gulf Energy Development’s IPO

23.5 billion baht
(approximately $704.7 million)

Gulf Energy Development Public Company

Partner
Posit Laohaphan

Associates
Eric Yiu
Diana Dizon

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Vietnam

 

Firm

Deal

Value

Client

Lawyer(s) involved

Baker Mckenzie

HDBank’s IPO

$300 million

Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank)

Partner
Nguyen HK Oanh

Counsel
Linh Chi Dang

Associate
Thu Huong Dao

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