Norton Rose, Ashurst and Hogan Lovells score lead roles on billion-dollar PPP
Norton Rose and Ashurst have won lead roles on the largest-ever sports facilities public private partnership (PPP) - the S$1.4bn (£664m) development of a major sports complex in Singapore. Singapore Sports Hub Consortium, which was appointed by the Singapore Government as the preferred bidder in 2008, has instructed Norton Rose as primary legal adviser.
August 26, 2010 at 11:42 AM
2 minute read
Norton Rose and Ashurst have won lead roles on the largest-ever sports facilities public private partnership (PPP) – the S$1.4bn (£664m) development of a major sports complex in Singapore.
Singapore Sports Hub Consortium, which was appointed by the Singapore Government as the preferred bidder in 2008, has instructed Norton Rose as primary legal adviser.
The top 10 UK firm is fielding a Singapore-based team led by infrastructure partner Nick Merritt, working alongside banking partner Jeff Smith. Corporate partner Daniel Yong is leading on the corporate aspects of the project, while London-based banking partner Mark Berry is providing specialist PPP advice.
Smith said: "It has been an immensely complex transaction because of the design and build, facilities maintenance and operational aspects of the project. It will run as a business with multiple parties taking responsibility for different aspects of the commercial operation.'
Meanwhile, Ashurst advised the consortium of lenders providing senior debt financing to SportsHub, which comprised 11 banks including BNP Paribas, Credit Agricole and HSBC.
The City firm fielded a Singapore-based team led by finance partner Matthew Bubb, while London structured finance partner Chris Whiteley also played a key role.
Other firms to take roles on the deal include Hogan Lovells Lee & Lee – the local affiliate of the newly-merged firm – which is advising the Singapore Government with a team led by Asia head of infrastructure James Harris.
Additional Singapore law and real estate advice is being provided by Singapore firm Rajah & Tann, while specialist sports law firm Onside Law is providing advice in relation to the sale of commercial sports rights.
The project is due for completion in April 2014.
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