Parveet Singh
Gandoak

Mergers and Acquisitions

Axiata Group Berhad in:

- its US$30 billion proposed merger-of-equals with Telenor Group’s Asia Pacific business, across 10 countries; and

- Celcom Axiata Berhad’s merger with Digi.com Berhad. The transaction was valued at over US$12 billion and is expected to be the largest-ever telecom transaction in Malaysia;

Mubadala Investment Company PJSC, a UAE sovereign wealth fund, in its:

- US$844 million investment in Reliance Retail Ventures Limited, a subsidiary of Reliance Industries Limited; and

- US$1.2 billion acquisition of a stake in Jio Platforms Limited, an Indian digital services provider and subsidiary of Reliance Industries Limited;

Twitter, Inc.:

- as the lead investor in the US$100 million series D round of financing by ShareChat, an Indian regional language social networking platform; and

- in its subsequent investment in ShareChat’s US$502 million financing round;

Aflac Ventures in its investment in Sunday, a Southeast Asian insurtech company;

Northstar Advisors, a Southeast Asia private equity fund, in connection with the sale of its shares of PT Centrama Telekomunikasi (towers) to Digital Colony Partners, a global digital infrastructure investment firm;

ST Telemedia Pte. Ltd., an active investor in the communications, media and technology space, in its acquisition of a majority stake of Seattle-based 2nd Watch, Inc., a cloud services provider;

WeWork Inc. in its:

- joint ventures across Asia; and

- acquisition of 100% of the share capital of NakedHub Holdings Limited, a major provider of co-working spaces in China, Hong Kong, Australia and Vietnam;

Equis Funds (Singapore) in its US$5 billion sale of Equis Energy (Singapore) to Global Infrastructure Partners and co-investors, the largest announced renewable energy sector M&A deal in history;

HOPU, Hillhouse Capital, SMG, BOCGI and Vanke in the US$11.7 billion going-private acquisition of Global Logistic Properties Limited (Singapore);

Varuna Investments in its restructuring and sale of Asian Genco Pte. Ltd.’s interest in Teesta Urja, as well as the settlement of certain disputes and regulatory matters;

MassMutual International in its US$1.7 billion sale of MassMutual Asia to an investor group led by Yunfeng Financial Group. This transaction was named as one of the Overseas M&A Deals of the Year for 2017 by China Business Law Journal;;

Times Internet Ltd, the largest media company in India, in its acquisition of a majority stake in MX Media Co Ltd, a multimedia technology company with operations in China and Korea;

Mars in its acquisition of Preferred Brands International, a manufacturer and marketer of Asian food products through its Tasty Bite subsidiary, which is listed on the Bombay Stock Exchange and the National Stock Exchange of India;

Soho Global Health in the sale of a stake by Quadria Capital to CVC;

An international insurance intermediary in restructuring its joint venture in India to comply with new Indian owned and controlled requirements.

Hony Capital as the lead investor in the US$430 million round of financing by WeWork Companies Inc.;

Capital International in its US$200 million acquisition of a minority stake in Mankind Pharma, an Indian pharmaceutical company;

Russia China Investment Fund in its investment in TutorGroup;

Clearwater Capital Partners in the establishment of an Indian credit platform, and the US$300 million collective co-investment by Clearwater Capital Partners and two other large global investors;

Prudential Financial in its strategic cooperation with Fosun Group, China’s leading private investment company, to establish a $600 million private equity fund and a related joint venture in the PRC;

Nereus Capital in its joint venture with Hareon Solar and Treasury Group to invest in solar projects in India;

Apollo Global Management in its acquisition of a majority interest in the asset management business of AR Capital (subsequently withdrawn), its acquisition of the wholesale distribution business of RCS Capital and its substantial minority equity investment in RCS Capital;

AIF Capital as a selling shareholder in the sale of certain female health care businesses of Famy Care, the world’s largest producer of oral contraceptive pills, to Mylan for US$750 million, with additional contingent payments of up to US$50 million;

AXA in the US$335 million sale of its mandatory pension business in Hong Kong to the Principal Financial Group;

A leading international life insurance company in raising its equity stake in its Indian joint venture in light of the new Insurance Laws (Amendment) Act.

AIA Group Limited in its landmark exclusive bancassurance partnership with Citibank to istribute its insurance products to 11 countries in the Asia Pacific region. This was the largest-ever bancassurance deal in Asia;

HarbourVest in the sale of MYOB, an Australian accounting software firm, for US$1.3 billion to Bain;

AIA Group in its US$1.7 billion acquisition of ING’s Malaysian insurance businesses;

D. E. Shaw in its joint venture with Reliance Industries to create a broad financial services and investment business in the Indian markets;

Exal Corporation in the buyout of Mankind Pharma’s stake in Casablanca Industries and a subscription of shares of Casablanca by Exal India BV;

Wyeth in the US$275 million sale of a manufacturing facility and certain pharmaceutical products to Akrimax Pharmaceuticals, LLC; and

One Equity Partners, Oak Investment Partners and Rho Ventures in the US$855 million going-private acquisition of Vertrue Inc.

Capital Markets

American International Group (AIG) in its US$2 billion sale of ordinary shares of AIA Group Limited;

Goldman Sachs, Citi and Credit Suisse as bookrunning managers for the US$6.4 billion combined primary and secondary offerings of common stock by MetLife and AIG;

Interactive Brokers Group in its US$1.3 billion IPO; and

Citi, RBC and Standard Bank as joint book-running managers in Columbus International’s Rule 144A/Regulation S placement of US$450 million senior secured notes.