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Finance & Banking

Opening an era of negotiable instrument securitization in China: King & Wood Mallesons advised on the debut of ABS product backed by rights to payment in negotiable instruments

07 Apr 2016

30 March 2016, King & Wood Mallesons (KWM) advised Huatai Securities Asset Management Co., Ltd. (HTAM) on the successful issuance of HTAM-Bank of Jiangsu Rongyuan No. 1 Asset-backed Specific Plan (Rongyuan No. 1). Rongyuan No. 1 is another innovative and ground-breaking asset-backed securitization (ABS) project in the industry, making it the debut ABS backed by rights to payment in negotiable instruments in China.

Norton Rose Fulbright advises Société Générale and Crédit Agricole on the sale of three rail car fleets to Alpha Trains

07 Apr 2016

Global law firm Norton Rose Fulbright has advised French banks, Société Générale and Crédit Agricole Corporate & Investment Bank (CACIB), on the sale of three rail car fleets and the respective leasing contracts to Alpha Trains Luxembourg (Alpha Trains). The transaction volume was in the three-digit million range. The firm also advised the banks on the repayment of the existing financing on the sold fleets.

Linklaters advises UAE Exchange and Travelex on $890 million loan

07 Apr 2016

Linklaters has advised UAE Exchange Centre LLC (" UAE Exchange ") and Travelex Holdings Limited (" Travelex ") as they secured a US$890 million term loan financing to support the growth of the two companies. The shareholders in both Travelex and UAE Exchange (the "Shareholders") are Centurion Investments ("Centurion"), a leading UAE investment firm, and Dr. B. R. Shetty, a well-known entrepreneur and philanthropist.

KKR to Sell Stake in Scout24

07 Apr 2016

Simpson Thacher is representing KKR & Co. L.P. in the announced sale of its 49% stake in Scout24 Schweiz AG (“Scout24”) to Swiss Mobiliar. Closing of the transaction is subject to regulatory approvals and other necessary closing procedures.

Scout24 is a network of online marketplaces for motor vehicles, real estate and general classifieds. Swiss Mobiliar is Switzerland’s oldest private insurance company.

The Simpson Thacher team includes Alvaro Membrillera (Corporate).

Hengeler Mueller advises Portigon on transfer of PFS to EAA

07 Apr 2016

Portigon AG (“Portigon”) transfers all shares in its service subsidiary, Portigon Financial Services GmbH (“PFS”), to Erste Abwicklungsanstalt (“EAA”). The IT service provider PFS manages the financial portfolio of EAA and currently employs some 550 people in Düsseldorf, New York and London.

The transfer of PFS to EAA is a further step towards winding down the former WestLB in accordance with the conditions imposed by the EU Commission and will secure the

Nctm legal advisor in the district heating project for the Municipality of Valtournenche – Breuil Cervinia (Aosta)

06 Apr 2016

Nctm Studio Legale advised Banca Popolare di Milano (BPM) in the project finance loan to Energie de la Vallèe, as Special Purpose Vehicle (SPV) belonging to the Genoese group Energetica, for the realisation, under the Private-Public-Partnership (PPP) regime, of a district heating system in the Municipality of Valtournenche – Breuil Cervinia (Aosta).

Charles Russell Speechlys advises VinaCapital Group on the move to the Main Market of its flagship fund VOF

06 Apr 2016

Charles Russell Speechlys has acted for VinaCapital Investment Management Limited on the recent admission of VinaCapital Vietnam Opportunity Fund Limited (“VOF”) to the Official List (premium listing closed ended investment funds) and to the Main Market of the London Stock Exchange and the cancellation of its AIM listing and VOF’s migration from the Cayman Island to Guernsey.

Slaughter and May is advising HNA - acquisition of Tysan Holdings

06 Apr 2016

Slaughter and May, Hong Kong, is advising HNA Finance I Co., Ltd. on the proposed acquisition of 66% of the issued share capital of Tysan Holdings Limited from Tides Holdings II, a company controlled by Blackstone. Tysan is listed on the Hong Kong Stock Exchange and is engaged in foundation filing, property development and property investment. Upon completion of the proposed acquisition, HNA Finance I will make a mandatory general offer for the entire issued share capital of Tysan other than the 66% already acquired from Blackstone.