Linklaters has advised Chinese sovereign wealth fund China Investment Corp. on its acquisition of an interest in Thames Water Utilities Ltd., the U.K.’s largest water company. China Investment Corp. (CIC) paid around $1 billion for the 8.8-percent stake in Thames Water, London’s main water supplier. Hong Kong partner Matthew Middleditch and London partner William Buckley led Linklaters’ team acting for CIC. Among the members of the selling consortium was Spanish bank Santander Group, which turned to Clifford Chance partners José María Fernández-Daza in Madrid and David Pudge in London. [Read full story]
Hong Kong firm P.C. Woo & Co. was lead advisor to Allied Cement Holdings Ltd. in its Hong Kong initial public offering, which raised $19 million. The cement maker and trader’s main business is in China’s Shandong province and Shanghai. It will mainly use the proceeds to repay existing debt. Beijing’s Zhong Lun Law Firm provided Chinese counsel to the issuer. Judy Lee of Appleby‘s Hong Kong office led a team providing Cayman Islands counsel to Allied Cement. Hong Kong firm Mason Ching & Associates advised the sponsor, Altus Capital Ltd., and underwriter, Sun Hung Kai Investment Services Ltd.
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