Herbert Smith Freehills has advised fund manager Propertylink on the establishment of an industrial property vehicle with investments from Goldman Sachs and UK based Grosvenor Group.
The vehicle, called the Australian Industrial Property Partnership, currently has a portfolio of seven industrial assets with a combined value of around A$100 million, and plans to expand the portfolio to A$350 - 400 million.
Freshfields Bruckhaus Deringer has advised Hong Kong conglomerate Hutchison Whampoa on the establishment of a strategic alliance between its subsidiary A.S. Watson Holdings (AS Watson) and Temasek.
The alliance has been formed by Temasek taking up an indirect equity interest of 24.95% in AS Watson for approximately US$5.6bn.
Dechert LLP represented BioAlliance Pharma SA (Euronext Paris - BIO), a biopharmaceutical company dedicated to the development of orphan oncology products, in its successful negotiations with Innocutis Holding LLC over the commercialization of Sitavig in North America. Sitavig (acyclovir Lauriad) is an innovative treatment of recurrent labial herpes. Innocutis, based in Charleston, South Carolina, is a pharmaceutical company dedicated to dermatology, with “best-in-class” branded prescription products in skin related therapies.
Wragge & Co's Life Sciences team has helped to deliver an important deal between Astellas and Basilea. Acting for Astellas, the team worked internationally to deliver an amended agreement for the development and commercialisation of Isavuconazole, a potential new therapy being developed globally to treat invasive, life-threatening, fungal diseases.
Pinsent Masons has advised Yecco, the newly launched social media platform, on its partnership with Allianz Global Assistance UK.
Yecco allows families, care-givers, professionals and other services to communicate together online and on mobile devices. In doing this, Yecco helps to address some of the universal issues of self management of health conditions, loneliness, isolation and care planning faced by the elderly and those living with chronic conditions and associated difficulties faced by families and carers.
American Express Company today announced that it has signed an agreement to create a joint venture for its Global Business Travel division ("GBT"). Under the agreement, American Express will share ownership of the joint venture with an investor group led by Certares. In the proposed transaction, American Express will separate its GBT operations into a dedicated holding structure, which will include certain assets and liabilities that currently comprise GBT, and will have a 50% ownership stake in the joint venture following the closing.
Düsseldorf - Wroclaw-based Work Service Group has established a new joint venture for the German market with the international Fiege Group of Greven. The new company will comprise the three German Work Service firms and Fiege subsidiaries Fiege uni/serv GmbH and FIEGE worksess GmbH. The transaction is currently awaiting approval from the competition authorities.
Beijing: Leading international law firm Clifford Chance has advised COFCO Corporation on the acquisition of a 51% stake in Nidera, a global commodity trader and agribusiness company headquartered in the Netherlands.
COFCO, a Fortune 500 company, is the largest grain, oil and foodstuff company in China with a business portfolio covering agriculture commodity trading and processing, branded consumer foods, packaging materials and products, hotels & real estate, finance and others.
Davis Polk is advising Solvay S.A. on its joint venture with New Biomass Energy for the production of torrefied biomass at an industrial scale.
Davis Polk is advising Tencent Holdings Ltd. in connection with its strategic business partnership with JD.com. Tencent is subscribing to new shares representing an approximately 15% stake in JD and will also subscribe to an additional 5% at IPO price after JD completes an IPO. JD will acquire 100% interests in Tencent’s online marketplace businesses, including QQ Wanggou B2C and PaiPai C2C, its logistics personnel and assets, and will also acquire a minority stake in Yixun, with a right to acquire the remaining stake of Yixun in the future.