Deal Watch 3/30/12

Posted on March 30, 2012 at 8:03 PM

            Far East Horizon Share Sale

Far East Horizon, a financial leasing subsidiary of Chinese state-owned Sinochem Group, sold its new shares worth $371 million. Paul Hastings advised this share sale with a team headed by Hong Kong–based partners Raymond Li and Chris Betts along with support from associate Anthony Pang. Freshfields Bruckhaus Deringer advised UBS, the placing agent for this transaction.

            Kinetic Mines Hong Kong IPO

Coal provider Kinetic Mines and Energy Ltd (Kinetic) was advised by Latham Watkins on their IPO of 930 million shares listed on the Hong Kong Stock Exchange. The offering was closed on March 23rd, 2012 and raised HK$1.1 billion ($141.6 million). The underwriters for this IPO were BOCOM International Securities, CCB International Capital, Guotai Junan Securities (Hong Kong), and USB AG’s Hong Kong Branch, and HSBC was the global coordinator and sponsor of the offering.

Latham was the Hong Kong and U.S. counsel to Kinetic, with a team including Hong Kong based partners Jane Ng, Stanley Chow, and Eugene Lee, Los Angeles partner Samuel Weiner, and lawyers from the Shanghai and Singapore offices. Jingtain & Gongcheng also advised Kinetic on PRC Law. A Hong Kong based Norton Rose team advised the underwriters on Hong Kong and U.S. Law and Jun He Law Offices advised them on PRC law.

             DBM’s $580 million Bonds Issuance

The Development Bank of Mongolia (DBM) and the Mongolian Ministry of Finance issued $580 million senior guaranteed bonds. Mayer Brown JSM advised them on this transaction with a Hong Kong based team led by partner Jason Elder. This transaction shows Mayer Brown’s institutional commitment to Mongolia and the countries expected growth in the next decade. Mayer Brown and ARLEX Consulting Services represented the DBM and Allen & Overy and Mongolian firm GTs Advocates represented the dealers.

             Morgan Stanley’s Investment in Tianhe Chemicals

Advised by Paul Weiss, Morgan Stanley Private Equity Asia (MSPEA) made a $300 million equity investment in Tianhe Chemicals (Tianhe), China’s largest producer of lubricant additives. Clifford Chance represented Tianhe on this deal. With the completion of this transaction, MSPEA’s Chief Investment Officer Homer Sun will become a board member of Tianhe.

A Hong Kong, New York, and Washington D.C. team from Paul Weiss led by corporate partners Jang Lange and Yvonne Chan, tax partners Jeffrey Samuels and David Mayo, and litigation partner Mark Mendelsohn advised MSPEA. Haiwen & Partners advised MSPEA on PRC law and Conyers Dill & Pearman was their BVI counsel. Commerce & Finance Law Offices and Ogier served as counsel for Tianhe on PRC and BVI law.

              Nixon Peabody Allies With Chinese Firm

On March 13th 2012 Nixon Peabody announced its new alliance with Hylands Law Firm in Mainland China. This alliance should boost the firm’s presence in China and help it compete closely with international firms like Baker & McKenzie who have longstanding practices in the country. Nixon Peabody already has offices in Shanghai and Hong Kong, and is along with Hylands a member of the Terralex network of independent law firms.

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