Perkins Coie advised the government of India on the creation and initial public offering of its first central public sector enterprise (CPSE) exchange traded fund (ETF) on the National Stock Exchange.  The ETF raised more than Rs 3000 crore (approximately US$501 million) in its initial public offering. The ETF will purchase and hold stakes in 10 selected central public sector companies (PSCs) through a mutual fund format.

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Paul Hastings LLP, a leading global law firm, announced today that the firm represented Citigroup Global Markets Inc., UBS Securities LLC, Credit Suisse Securities (USA) LLC and BNP Paribas Securities Corp., as joint bookrunners and joint lead arrangers in connection with the financing for the acquisition of Wayne Fuel Systems, LLC, a manufacturer of petroleum fuel and compressed natural gas (CNG) dispensers and other fueling equipment, by affiliates of private equity firm Riverstone Holdings LLC from General Electric Corporation.
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Davis Polk advised underwriters represented by BNP Paribas, Goldman Sachs International, Merrill Lynch, Pierce, Fenner & Smith Incorporated and RBC Capital Markets, LLC in connection with the offering of $1 billion aggregate principal amount of 1.750% U.S. dollar bonds due 2019, issued by Export Development Canada.

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Herbert Smith Freehills has advised Woodside Petroleum Ltd on the exit by Shell Energy Holdings Australia Limited, a subsidiary of Royal Dutch Shell plc, comprising:

• a selective buy-back of 78.3 million Woodside shares owned by Shell for total consideration of A$2.9 billion. The consideration is based on a price per share of A$36.49, representing a 14% discount to the volume weighted average price of Woodside shares over the five trading days before the announcement of the transaction, and

• an underwritten sell-down by Shell of a further 78.3 million shares at A$41.35 per share, for total consideration of A$3.2 billion.

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Mayer Brown JSM advised Hong Kong Huafa Investment Holdings Company Limited on its issue of RMB 850 million 4.25 percent. credit enhanced bonds due 2017 backed by a standby letter of credit issued by Agricultural Bank of China. The deal was jointly lead managed by ABC International, the Hong Kong and Singapore branches of Agricultural Bank of China and OCBC. The Issuer is a wholly owned subsidiary of Zhuhai Huafa Group Co., Ltd., a PRC state-owned conglomerate involved in urban operations, financial services, property development, sales and trading, modern services, education, media and tourism. The bonds were assigned an A1 rating by Moody’s Investors Service.
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In a noteworthy deal aligning two prominent asset managers, Milbank, Tweed, Hadley & McCloy LLP is representing leading UK-based hedge fund Man Group PLC in its announced acquisition of Numeric Holdings LLC, an investment manager based in Boston.

Under their joint agreement, Man will pay $219 million in cash, with up to $275 million payable to Numeric management and employees following after a five-year period. The deal is expected to close in September.

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Founded in 1991, FDM is a UK-based international professional services provider focusing principally on IT, specialising in the recruitment, training and deployment of its own permanent IT consultants across six core service areas: Development; Testing; Project Management Office; Data Analysis; Application Support; and Infrastructure.

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Gannett Co., Inc. (NYSE: GCI) today completed the previously announced sale of KTVK-TV and KASW-TV in Phoenix, AZ, to Meredith Corporation (NYSE: MDP). Gannett and Sander Media LLC conveyed assets to Meredith acquired following the December 2013 Gannett-Belo transaction. This completes the sale of stations to Meredith that was previously announced in December of 2013. The total sale price of the combined stations (those in Phoenix and KMOV-TV in St. Louis) was $407.5 million in cash.

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Goodwin Procter recently advised TA Associates on the announced sale of Numeric Holdings to Man Group. According to the terms of the agreement, Man will pay $219 million in cash at completion, and up to $275 million more payable to various Numeric management and employees at the five year anniversary of the completion of the transaction.

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