ALM Properties, Inc.
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Asia Deal Digest: January 17, 2013
The Asian Lawyer
China/ Hong Kong
Mayer Brown JSM partner Jeckle Chiu is advising Hong Kong Citic Telecom International Holdings Ltd., the telecommunications unit of Chinese state-owned investment firm Citic Group, on its $1.16 billion acquisition of an additional 79 percent stake in Companhia de Telecomunicações de Macau SARL (CTM). The transaction is subject to the approvals of Citic Telecom shareholders and Macanese and Chinese regulators. Slaughter and May partners Andrew Jolly in London and Neil Hyman in Hong Kong are advising U.K.based Cable & Wireless Communications Plc. and Portugal Telecom SGPS SA, which are selling their stakes in CTM to Citic Telecom. Freshfields Bruckhaus Deringer Asia managing partner Robert Ashworth is advising Barclays Capital as financial adviser on the deal. [Read full story]
Baker & McKenzie Hong Kong partners Milton Cheng and Andrew Lockhart are advising Regal Real Estate Investment Trust on the establishment of a $1 billion medium-term note program.The hospitality-focused REIT is raising money to finance call options purchased in relation to two Hong Kong hotels currently in development, according to a filing with the Hong Kong Stock Exchange, as well as for general corporate purposes. Appleby is advising the issuer on matters of British Virgin Islands law. The underwritersAustralia and New Zealand Banking Group Ltd., The Hongkong and Shanghai Banking Corp. Ltd., J.P. Morgan Securities Plc and UBS AG.are being advised by Clifford Chance partner Matthew Fairclough. [Read full story]
DLA Piper has advised on the establishment of reinsurer Peak Reinsurance Holdings. The company received an initial capital base of $550 million, provided jointly by Chinese investment firm Fosun International and the World Bank's private sector investment arm International Finance Corp. Fosun holds an 85 percent stake while International Finance Corp. holds the remaining 15 percent. Clifford Chance Hong Kong partner Simon Cooke represented International Finance Corp. Offshore firm Appleby advised both Peak Reinsurance and International Finance Corp. with a team led by Hong Kong partners Judy Lee and Jeffrey Kirk.
Cheung Kong Infrastructure Holdings Ltd., part of Hong Kong billionaire Li Ka-shing's Cheung Kong group of companies, has acquired New Zealand waste management company EnviroWaste Services Ltd. for $421 million. The sellerSydney-based private equity firm Ironbridge Capital Holdings Pty. Ltdwas advised by Clayton Utz Sydney partner David Stammers and New Zealand firm Webb Henderson. Cheung Kong Infrastructure was advised by Auckland-based Russell McVeagh.