As China’s global hunt for energy resources continues, Vinson & Elkins and Linklaters are advising on the $4.2 billion sale of a stake in French gas and electricity utility GDF Suez to Chinese sovereign wealth fund China Investment Corporation (CIC). The deal will give CIC, which is advised by Vinson & Elkins, access to GDF Suez’s exploration and production division and a liquefied natural gas plant located in Trinidad and Tobago. Meanwhile, GDF Suez will expand its waste water business in China through the deal, which is pending regulatory and shareholder approvals. Linklaters’s Marc Loy is leading the firm’s team advising GDF Suez from Paris, along with French co-counsel firm Bredin Prat. [Read full story]
Mayer Brown JSM has steered a Mongolian bank through establishing a $300 million program to issue euro medium term notes. Hong Kong-based partner Jason Elder advised the bank, XacBank LLC, on English law. Chinese firm Lehman, Lee & Xu advised on Mongolian law aspects of the program. The underwriters sought advice from Allen & Overy Hong Kong partner Walter Son, with Mongolian advice provided by Ulaanbaatar firm GTs Advocates.
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