24 July 2013


A round-up of recent global deals and the lawyers who made them happen.

By Charlotte Mullen

News UK is to move to The Place by London Bridge and the Shard tkemot

UK: News on the move

News UK – publishers of The Times, The Sunday Times and The Sun – has moved to a new London headquarters in a high-profile letting deal, Legalweek reports. The former News International is to set up shop in The Place, a new 430,000 square feet development by London Bridge and The Shard. A London team at law firm Hogan Lovells advised News UK, led by real estate partner Dion Panambalana. The property is a joint venture between the State of Qatar and Sellar Property. An Eversheds London team acted for the landlord led by real estate partner Nicholas Bartlett.

Australia: Billabong buy

A $325 million debt refinancing deal sees a consortium of US private equity firm Altamont buying up to 40 per cent of surfware company Billabong and DaKine, its action sports and outdoor accessories brand. According to Lawyers Weekly, Altamont Capital Partners was represented by a Baker & McKenzie team led by partner Stephen Glanz and Ropes & Gray. Billabong International was represented by Allens.

Australia: billion-dollar bank deal

A $1 billion syndicated facility agreement has been provided to Leighton Finance by a syndicate of banks – Australia and New Zealand Banking Group Limited, Mizuho Corporate Bank and National Australia Bank Limited which were represented by Herbert Smith Freehills. Partner Melita Cottrell led the team, supported by senior associate Liam Williams. Clayton Utz acted for Leighton Finance as Australian counsel, Mochtar Karuwin Komar as Leighton’s Indonesian counsel and Mayer Brown JSM as Leighton’s Hong Kong counsel. HSF had previously advised the syndicate on Leighton’s financing in 2008.

Sri Lanka: airport advice

Clifford Chance and Al-Jadaan & Partners have advised BNP Paribas and GIB Capital as lead advisors on the financing of an airport by Saudi Binladin Group (SBG). According to TradeArabia.com, the estimated $3.1 billion (SR12 billion) financing is for the development of King Abdulaziz International airport and one phase of its construction.
BNP Paribas Investment Company KSA and GIB Capital LLC acted a joint lead managers and bookrunners on the financing by SBG Sukuk Limited’s fourth short term sukuk al-murabaha, which has a maturity of 364 days and a profit rate of 2.5 per cent per annum, according to a statement from Clifford Chance.  SBG was represented by Baker & McKenzie whilst SBG Sukuk was advised by Walkers.

Singapore: upstream opportunities

Southeast Asian independent upstream oil and gas company KrisEnergy has been advised by Clifford Chance on its $213 million (S$270.8 million) initial public offering, ALB reports. The Singapore-based company has made the offering of its shares in a bid to fund for capital expenditure and potential acquisitions. Partners Raymond Tong and Johannes Juette led the team for Clifford Chance. The underwriters were advised by Latham & Watkins, led by Singapore partners Michael Sturrock and Sharon Lau. KrisEnergy was advised on Bangladesh law by Syed Ishtiaq Ahmed & Associates, on BVI, Caymand Islands and Jersey law by Walkers, on Cambodian law by Khmer Intellectual Law Firm, on Indonesian law by Makarim & Taira S., on Thai law by Chandler and Thong-ek Law Offices and on Vietnamese law by VILAF. According to Upstreamonline.com, around 151.9 million shares are being offered by KrisEnergy, which is supported by Keppel Corp and Private Equity Firm First Reserve, at S$1.10 per share.

Ireland: lucrative listing

A team from Norton Rose Fulbright has advised joint sponsors and bookrunners JP Morgan Cazenove and Davy on Ireland’s first main market listing of an Irish company for five years – a €310 million initial public offering of Irish property investment company Green REIT plc. The institutional placing in the UK, Ireland, Australia and US proved very attractive worldwide and was over-subscribed, raising  more than €100 million in excess of its target. The cross-border team from Norton Rose Fulbright was led by Mark Lloyd Williams, Tom Vita and Jason Moss. JP Morgan Cazenove and Davy were advised on Irish law by McCann FitzGerald and Green REIT was advised by Arthur Cox and Ashurst.  Mr Vita said of the transaction:  ‘The fact that the placing was oversubscribed shows promising appetite for investment and is encouraging for certain Irish companies seeking to raise capital.’

US: Gulf giants

Apache Corporation, the Houston-based oil and gas company, is to sell its Gulf of Mexico operations for $3.75 billion to Fieldwood Energy, a portfolio company of private equity firm Riverstone Holdings. According to the American Lawyer, Fieldwood is to acquire over 1.9 million net acres of Gulf assets but will collaborate jointly with Apache to develop deepwater locations and jointly own the assets’ exploration blocks. Bracewell & Guiliani led the deal for Apache with lawyers Alan Rafte, Kristen Campana, Bruce Jocz, Elizabeth McGinley, Bryan Loocke and Robin Miles on the project. Fieldwood is represented by Simpson, Thacher & Bartlett and Vinson & Elkins, with team members including Christopher Brown and Robert René Rabalais for Simpson Thacher and David Cohen, Marc Rose and Shay Kuperman for V&E.

Email your news and story ideas to: news@globallegalpost.com