Hong Kong – Paul Hastings LLP, a leading global law firm, announced today that it represented China Life in the US$1.65 billion acquisition of 1285 Avenue of the Americas in Manhattan, the highest value New York City office building transaction this year. The purchaser consortium was led by RXR Realty LLC., a New York Tri-State Area active institutional owner, manager, and developer. China Life is the single largest investor in the transaction.

Global law firm Norton Rose Fulbright has advised Maersk Drilling, a unit of A.P. Moller-Maersk, on its acquisition of a newbuild harsh environment jack-up rig, the Maersk Highlander, from Hercules Offshore.

Clifford Chance has advised Prysmian group on the acquisition of the copper data cable operation located in Neustadt bei Coburg, Germany, from Corning Optical Communications GmbH & Co. KG. The closing of the acquisition is subject to customary closing conditions.

The acquired business reported sales of approximately EUR 22 million in 2015 and consists of a plant for the production of CAT5, CAT6 and CAT7 cables.

An international CMS team headed by Dr Wolfgang Richter and Dr Hendrik Hirsch, co-head of CMS's excellence cluster M&A – industry, advised Stabilus on all legal aspects of the transaction. For US legal issues, CMS was supported by a team from Nixon Peabody. The acquisition is still subject to approval by antitrust authorities. The volume of the planned transaction amounts to USD 339m.

DLA Piper Prague has advised the investment group Prague Prime Homes (owned by the Austrian Meinl Bank) on the acquisition of the famous Secession period Grand Hotel Europa on Prague's Wenceslas Square from the Czech businessman Václav Skala.

Global law firm Norton Rose Fulbright is advising ICBC Standard Bank plc on its proposed acquisition of the UK precious metals vaulting business owned by Barclays Bank plc.

The acquisition, expected to complete in July 2016, will enable ICBC Standard Bank to better execute its strategy of becoming one of the largest Chinese banks in the precious metals market. The business being acquired by ICBC Standard Bank includes Barclays’ London vault, along with the transfer of the associated contracts (subject to consent).

Global law firm White & Case LLP has advised Groupe Legris Industries, the France-based diversified industrial group, on the acquisition of Schiederwerk Germany.

Schiederwerk develops and produces electronic ballasts and ignitors for AC and DC discharge lamps and LED drivers, and offers power supplies for medical engineering, telecommunications, show and lighting industries.

After the completion of the transaction, Schiederwerk will become the fourth division of Legris Industries alongside Savoye Logistics, Clextral and Keller.

Sydney, Brisbane, Australia, 23 May 2016 – Baker & McKenzie acted for a Thai private client in the successful purchase of the Surfers Paradise Marriott Resort and Spa. The vendor, Marriott Vacations, a timeshare operator, retained one third of the hotel for time share use as well as occupying a number of the public areas for timeshare sales operations.

King & Wood Mallesons has advised the South Eastern Australia Gas (Mortlake) Partnership (the SEA Gas Mortlake Partnership), on its sale agreement to acquire the Mortlake Pipeline in Victoria for $245 million.

KWM also advised the SEA Gas Mortlake Partnership on its arrangements with Origin for the provision of long-term gas transportation and storage services on the pipeline.

The transaction is expected to be completed after 30 June 2016, and is part of Origin’s asset divestment process.

AG has advised Manchester Science Partnerships (MSP) and its controlling shareholder Bruntwood, on the purchase of Synergy House, Manchester from Minton Commercial Properties.
The fully let, three storey office development is part of the Corridor Manchester Site and is currently occupied by leading technology companies Equinix (formerly Telecity), ANS Group and CACI.