Morrison & Foerster Completes China CITIC Bank’s US$4 Billion A+H Share Rights Issue

Morrison & Foerster advised China International Capital Corp (CICC) and CITIC Securities as joint H-share underwriters in the A+H share rights issue of China CITIC Bank Corporation Limited. Notwithstanding difficult market conditions, China CITIC Bank Corporation Limited raised approximately US$4 billion from the A+H share rights issue. China CITIC Bank Corporation Limited is China’s seventh-largest lender in terms of total assets, and its largest shareholder is China’s largest financial conglomerate, CITIC Group.

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Freshfields Advising Consortium Led by Cheung Kong Infrastructure Holdings on £2.4bn Recommended Acquisition of Northumbrian Water

International law firm Freshfields Bruckhaus Deringer is advising a consortium led by Cheung Kong Infrastructure Holdings Limited, the Hong Kong listed infrastructure company, on its recommended cash acquisition of Northumbrian Water Group plc, the UK listed water company. The acquisition values Northumbrian Water’s issued share capital at approximately £2.4bn.

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Baker & McKenzie Advises Canada Pension Plan Investment Board on its First Direct Real Estate Investment in Hong Kong

Baker & McKenzie recently acted for the Canada Pension Plan Investment Board (“CPPIB”) on its acquisition of 50% of the shares in Hong Kong Interlink from Goodman Group, one of the world’s largest listed fund managers specializing in industrial and business properties with whom CPPIB has a long-standing relationship. The gross purchase price of CPPIB’s interest is approximately CAD285 million (HKD2.26 billion). CPPIB is making an equity commitment of approximately CAD205 million and assuming debt of approximately CAD80 million to purchase the 50% interest.  The other 50% of Hong Kong Interlink will be owned by the Goodman Hong Kong Logistics Fund.

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Covington Advises Joy Global in $1.5 Billion Acquisition Financing

Joy Global Inc. (NASDAQ: JOYG), a worldwide leader in high-productivity mining solutions, reported yesterday that it has signed a definitive agreement to acquire approximately 41 percent of the outstanding common stock of International Mining Machinery Holdings Ltd. (IMM), a Hong Kong listed designer and manufacturer of underground coal mining equipment in China.

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Davis Polk Advises Prada S.p.A. on Its Initial Public Offering

Davis Polk advised Prada S.p.A. in connection with its HK$16.7 billion (US$2.15 billion) initial public offering of ordinary shares. The global offering consisted of a public offering in Hong Kong and an international offering in reliance on Rule 144A and Regulation S. The global offering consisted of both primary and secondary shares, which are listed on the Hong Kong Stock Exchange under the stock code of “1913.”

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Baker & McKenzie Advises Fortune REIT on its HKD3.8 Billion Term Loan and Revolving Credit Facilities

Baker & McKenzie recently advised ARA Asset Management (Fortune) Limited, as manager of Fortune Real Estate Investment Trust (“Fortune REIT”), on a five-year term loan and revolving credit facilities of up to an aggregate principal amount of HKD3.8 billion, comprising a HKD2,830 million term loan facility and a HKD970 million revolving credit facility granted to Fortune REIT.  Part of the new facilities was used to refinance existing facilities of HKD3.1 billion due in October 2013, and the balance will be used for financing the corporate funding requirements of Fortune REIT, including any acquisition opportunities and other yield enhancing asset enhancement initiatives.

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Davis Polk Advises Abax Global Capital in Connection With a Going-Private Transaction Involving Harbin Electric

Davis Polk is advising Abax Global Capital in connection with a going-private transaction which will result in Nasdaq-listed Harbin Electric, Inc. being taken private by Tech Full Electric Company Limited, an acquisition vehicle that will be owned by the chairman and CEO of Harbin Electric, Mr. Tianfu Yang, certain other members of Harbin Electric’s management and Abax Global Capital.

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Troutman Sanders Advises Shandong Weigao Medical Polymer on Deal

Troutman Sanders advised Hong Kong-listed Shandong Weigao Medical Polymer Company Limited, a PRC incorporated, joint-stock company and a major supplier of consumable medical products for hospitals, in connection with its disposal of 50% equity interest in JW Medical Systems Limited to Biosensors International Group, a Singapore-listed company, for approximately HK$3.96 billion.

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