Hong Kong – 4 July – LAWFUEL – The Law News Network – Global law firm Clifford Chance has topped the Thomson Financial Asian M&A league tables for the first half of 2005*. The firm ranked first by value for completed deals with any Asian involvement (excluding Japan), having advised on US$9.1 billion worth of completed transactions, with a market share of 17.9%.
Clifford Chance also ranked second in Thomson Financial’s Worldwide M&A league tables for completed deals, advising on US$122.5 billion worth of completed deals, and secured top rankings in the European league tables.
Headline deals in Asia for in 2005 included advising:
· Lenovo Group Limited on its US$1.75 billion acquisition of IBM’s personal computing business, forming the world’s third-largest PC business;
· Philip Morris International Inc. on its 2-step acquisition of Hanjaya Sampoerna Tbk PT for just under US$5.2 billion (the largest takeover in Indonesian corporate history);
· Mitsui Sumitomo Insurance on its acquisition of Taiwan’s Mingtai Fire & Marine Insurance for NTD$8.4 billion (US$273.6 million) (the first sale by the Taiwanese government to a foreign buyer in the insurance sector);
· ING Bank N.V. on its RMB1.78 billion (EUR166 million) acquisition of up to 19.9% of Bank of Beijing, the second largest commercial city commercial bank in China, as part of a broader strategic alliance;
· NWS Holdings Limited on the disposal of its 31.4% interest in Asia Container Terminals Holdings Limited and the disposal of its wholly owned subsidiary Keen Sales Limited (which had a 33.34% interest in CSX World terminals Hong Kong Limited) to Ports of Singapore Authority (combined value HK$3 billion), and
· Reuters on their acquisition of Quick Moneyline Telerate Corp.
Roger Denny, head of Clifford Chance’s M&A practice in Asia, commented:
“We got off to a flying start this year completing some of the most high-profile deals in Asia, and we are naturally very pleased to have guided our clients through significant and complex transactions.”