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Photo: Shutterstock[/caption] Asia Deal Digest, published periodically, is a compilation of some of the largest deals carried out in Asia.
China/Hong Kong
• Skadden, Arps, Slate, Meagher & Flom Hong Kong partners Julie Gao and Jonathan Stone and Shanghai partner Haiping Li represented Chinese mobile chat app Momo Inc. on a $650 million convertible senior notes offer. The proceeds will fund Momo's $800 million acquisition of Tinder-like competitor Tantan Ltd. in February. The offer was announced days after short seller Spruce Point Capital Management accused Momo of concealing Chinese regulatory challenges it might face for live video product. Davis Polk & Wardwell Hong Kong partner James Lin advised the underwriters on the senior notes. • Clifford Chance Beijing partner Tim Wang, Hong Kong partner Amy Lo and Singapore partner Jean Thio have represented Chinese commercial lender Bank of Jiujiang Co. Ltd. on a $486 million initial public offering on the Hong Kong Stock Exchange. Proceeds will be used as working capital, according to a prospectus. JunHe Beijing partner Li Zhi advised Bank of Jiujiang on Chinese law. Sidley Austin acted for ABCI Capital Ltd. and China Securities Corporate Finance Co. Ltd. as joint sponsors. Haiwen & Partners Beijing partner Liu Su and Shanghai partner Wang Jianyong were Chinese counsel to the sponsors. • Skadden, Arps, Slate, Meagher & Flom Hong Kong partner Geoffrey Chan has advised Hong Kong-based venture capital firm Unicorn Capital Partners on raising a $250 million China-focused fund. Founded in 2015, Unicorn Capital Partners invests in other venture capital funds that invest in the technology, media, entertainment and health care sectors. • French firm Gide Loyrette Nouel Beijing partner Guo Min has advised state-owned Aluminium Corp. of China, or Chalco, on a $164 million investment in aluminum mining projects in the Republic of Guinea. The deal was part of China's $20 billion investment plan into the Western Africa country announced last year. Orrick, Herrington & Sutcliffe Paris partner Pascal Agboyibor represented the Republic of Guinea. • Freshfields Bruckhaus Deringer Hong Kong partners Robert Ashworth and Richard Blair and London partner Peter Clements advised InterContinental Hotels Group on a 51 percent stake acquisition in luxury brand Regent Hotels and Resorts for $39 million. IHG said it would have the right to buy the remaining stake in a phased manner from 2026. Freshfields Hong Kong partner Alastair Mordaunt and Berlin partner Frank Röhling also advised IHG on the antitrust aspect of the deal. Proskauer Rose Hong Kong partner Yuval Tal and New York partner Jeffrey Horwitz advised Regent Hotels. Maples and Calder Hong Kong partner Lorraine Pao was Cayman Islands counsel to Regent Hotels.