Marcus Lee

Singapore Technologies Engineering Ltd (ST Engineering), a company incorporated in Singapore and listed on the Singapore Exchange (SGX-S63 / Bloomberg-STE:SP), has announced that it has delivered to the Board of Directors of Cubic Corporation (Cubic), a company incorporated in Delaware and listed on the New York Stock Exchange (NYSE-CUB), a proposal to acquire all of Cubic’s outstanding stock for US$76 per share in cash. Latham & Watkins LLP represents ST Engineering in the proposed transaction with a cross-border corporate deal team led by Singapore and Hong Kong partners Michael Sturrock, Marcus Lee, and Simon Cooke and associates Carolyn Wong and Gwenlynne Lee; Chicago partner Christopher Drewry and associates Owen Alexander, Andrew Tremble, and Henna Jalal; and Orange County/New York partner Charles Ruck. Advice is also being provided on tax matters by Washington, D.C. partner Nicholas DeNovio and Houston associate Jared Grimley; on employee benefits matters by Chicago partner Robin Struve and associate Leah Segall and London partner Catherine Drinnan and associate Shaun Thompson; on antitrust matters by Bay Area partner Joshua Holian and Washington, D.C. counsel Peter Todaro; on competition matters by Brussels partner Luca Crocco and associates Marine Dewaele and Eva Beyer Blumenthal; on foreign direct investment matters by Hamburg counsel Jana Dammann de Chapto and London associates Jamie Mansour and Stephanie Adams and Milan counsel Cesare Milani and associate Edoardo Cassinelli; on governmental and regulatory matters by Washington, D.C. partners Les Carnegie and Steven Croley, counsels Dean Baxtresser, Andrew Galdes, Kyle Jefcoat, Elizabeth Park and associates Tahura Lodhi and Julie Choi Shin and Frankfurt partner Axel Schiemann, counsel Thies Deike and Boston associate Julia Lippman; on data privacy matters by Washington, D.C. counsel Marissa Boynton and associate Jimmy Smith and London partner Gail Crawford and associate Lorenzo Meusburger; on real estate matters by Chicago counsel Jeffrey Anderson and associate Victoria Wolfe; on technology transaction matters by Washington, D.C. counsel Kieran Dickinson and associates Ryan Clore and Mohammad Akhavannik; on environmental matters by Los Angeles counsel Aron Potash and associate Roopika Subramanian.~~

Mar 22

1 min

Latham & Watkins’ corporate practice earned recognition for advising on three groundbreaking “Deals of the Year” in FinanceAsia’s 2017 Achievement Awards. The awards highlight innovative transactions in the region and aim to recognize “excellence in bringing corporates and investors together and in developing Asia’s capital markets.” The three landmark transactions include: “Best Private Equity Deal” – Latham & Watkins represented Vincom Retail (“VCR”), Vietnam’s largest retail property developer, owner and operator, and its shareholder Warburg Pincus, in connection with VCR’s debut international offering and listing of shares on the Ho Chi Minh City Stock Exchange. VCR is the first Vietnamese shopping mall developer and operator to list its stock. The deal represented the largest ever international offering of shares in a Vietnamese company. The innovative deal structure addressed various legal and regulatory issues that had previously discouraged foreign investor participation in Vietnam and, accordingly, is likely to open up new investment opportunities for a wider pool of domestic and international investors to mobilize capital into Vietnam. The Latham & Watkins team was led by Hong Kong partner Amy Beckingham and Singapore partner Sharon Lau. “Best High-Yield Bond” – Latham & Watkins represented Vedanta Resources, a global diversified metals and mining company, on its issue of US$1bn high yield bonds due 2022. This was the largest single tranche G3 high yield bond issuance in Asia (ex-Japan) since 2015. The Latham & Watkins team was led by Singapore partner Rajiv Gupta with Hong Kong counsel Lou Rabinowitz and Hong Kong partner James Burnett. "Best Myanmar Deal” – Latham & Watkins represented TPG on its sale of a 50% interest in Myanmar Distillery Company to Thai Beverage Public Company Limited, a leading spirits group in Asia. Myanmar Distillery Company is the largest spirits company in Myanmar and produces Grand Royal, the nation’s leading whisky brand. This was a highly publicized, cross-border transaction led by Singapore partner Sharon Lau and senior associate Marcus Lee.~~

Dec 18

1 min

A cross-border deal team has advised Global Renewable Synergy Company Limited (GRSC) in relation to its acquisition of shares in Indian solar power company Avaada Energy Private Limited (Avaada). GRSC has invested, by way of subscription of new shares, approximately 41.6% of equity interest in Avaada with a total investment of THB 14,825 million (or approximately US$453 million). The investment enhances GRSC’s expertise in solar power generation and is intended to capitalize on expected growth in Avaada’s portfolio following the Indian government’s plans to increase the supply of electricity from renewable sources by 2030. GRSC is a wholly owned subsidiary of Global Power Synergy Public Company Limited (GPSC) which engages primarily in the production and distribution of electricity, steam, industrial water, and public utilities. GPSC is a unit of the state-owned energy company, PTT Public Company Limited. Avaada has developed some of the world's largest and highly efficient grid-connected wind and solar power plants in India. The deal team advising GPSC in the transaction was led by Singapore partner Marcus Lee and Hong Kong partner Posit Laohaphan, with associates Carolyn Wong, Alice Li and Nathan Ma.~~

Jul 20

1 min

Latham & Watkins has advised the new strategic investors (New Investors) on the Restructuring Support Agreement (RSA) of 5E Advanced Materials, a boron and lithium company with US government Critical Infrastructure designation for its 5E Boron Americas Complex. The New Investors will commit up to US$25 million under the transaction and acquire 50% of the outstanding principal amount of the convertible notes from the Lender. The transaction will further secure 5E Advanced Materials’ pathway to operations and the extraction of boric acid and lithium at its 5E Boron Americas complex. The Latham team was led by New York finance partners Adam Goldberg and George Klidonas and Singapore corporate partner Marcus Lee, with New York corporate partners Robert Katz and Drew Capurro, and Singapore counsel Jeremy Wang.~~

Jan 16

1 min

Latham & Watkins, Allen & Gledhill, JSA Advocates and Simpson Thacher & Bartlett are among the advisers on KKR and Singapore Telecommunications’ $5.1 billion acquisition of an additional stake in ST Telemedia Global Data Centres (STT GDC). The transaction has also spawned roles for AZB & Partners, Shardul Amarchand Mangaldas and Gibson Dunn & Crutcher. Latham & Watkins is advising seller ST Telemedia on the sale of its remaining stake in STT GDC to a consortium led by KKR and Singtel. The transaction implies an enterprise value of approximately $10.9 billion for the Singapore-based data centre platform. The Latham team is led by Singapore corporate partners Sharon Lau and Michael Rackham. Latham also advised ST Telemedia on receiving the consortium’s earlier $1.3 billion investment in STT GDC in 2024. Allen & Gledhill and JSA Advocates are advising Singtel, according to people with knowledge of the matter. JSA’s team is being led by partners Vikram Raghani and Nisha Kaur Uberoi. Simpson Thacher, retaining its role representing long-time client KKR, is acting as counsel to both KKR and Singtel, with Hong Kong partner Erik Wang once again leading the firm’s team on the transaction. Gibson Dunn is also acting for KKR on the deal. Gibson Dunn’s team is being co-led by Hong Kong partner Tyler Cohen and London partner Till Lefranc. In the initial $1.3 billion stake acquisition in STT GDC in 2024, it was Freshfields that advised the KKR-led consortium. The Freshfields team was then led by former partner Nigel Gleeson and associate Alice Boughton, both of whom have since moved to Gibson Dunn Singapore as partners. According to sources working on the deal, Indian firms AZB & Partners and Shardul Amarchand Mangaldas are advising KKR and ST Telemedia on merger control aspects of the deal. In 2024, AZB acted as sole Indian counsel for the consortium leaders in securing a Competition Commission of India approval for their investment in STT GDC. Milbank also had a role in the deal, the firm advised a large group of lenders made up of global and regional banks on the financing for the acquisition. Its team, sources said, was led by partner Davide Mencacci and special counsel Daniele Sutto. Under the latest agreements, funds managed by KKR and Singtel will acquire the remaining 82% stake in STT GDC from founding shareholder ST Telemedia. Upon completion, KKR will hold a 75% interest in the company, with Singtel owning the remaining 25%, taking into account the conversion of existing redeemable preference shares held by both investors. The transaction is expected to close in the second half of 2026, subject to customary regulatory approvals and closing conditions. Founded in 2014, STT GDC is one of the world’s fastest-growing and most diversified data centre platforms, with 2.3 gigawatts of design capacity across12 markets in Asia Pacific and Europe.

Feb 5

2 min