Sep 17, 2007

Cleary Gottlieb represented Goldman Sachs (Asia) L.L.C. in structuring the disposal by Alcoa International (Asia) Limited through a $2 billion block trade of Alcoa's 7% stake in Aluminum Corporation of China Limited (Chalco), which took place on September 12, and closed on September 17. This is the largest block trade in Asia since April 2006.

Alcoa acquired its stake in Chalco in Chalco's initial public offering in 2001 and had been a significant investor in Chalco since that time. Chalco is listed on the Shanghai, Hong Kong and New York stock exchanges.

Jun 01, 2007

Cleary Gottlieb represented the underwriters in a $486 million SEC-registered initial public offering of LDK Solar Co., Ltd. Morgan Stanley and UBS Investment Bank acted as joint book-running managers for the offering, and Piper Jaffray, CIBC World Markets and CLSA Asia-Pacific Markets were co-managers. The ADRs began trading on the NYSE on June 1.

LDK is a leading manufacturer of multicrystalline solar wafers, the principal raw materials used to produce solar cells. LDK is based in Xinyu City, Jiangxi Province, China.

Apr 15, 2008

Cleary Gottlieb represented the initial purchasers in a Rule 144A offering of $400 million aggregate principal amount of Convertible Senior Notes due 2013 by LDK Solar Co., Ltd. Morgan Stanley, UBS Investment Bank and JPMorgan acted as joint book-running managers for the offering, and Needham & Company, LLC, Cowen and Company and Lazard Capital Markets were co-managers.

Cleary Gottlieb also represented affiliates of the joint book-running managers in related derivatives transactions entered into to facilitate the offering of the notes, including $200 million of pre-paid forward share repurchase contracts with LDK Solar and a Rule 144/Rule 10b5-1 share sales plan and related prepaid forward contracts with an affiliate of LDK Solar. The offering closed on April 15.

LDK is a leading manufacturer of multicrystalline solar wafers, which are the principal raw material used to produce solar cells. LDK sells multicrystalline wafers globally to manufacturers of photovoltaic products, including solar cells and solar modules. LDK is based in Xinyu City, Jiangxi Province, China and its ADSs are listed on the New York Stock Exchange. Cleary Gottlieb was also underwriters' counsel in LDK's initial public offering and NYSE listing in June 2007.

Jan 05, 2007

Cleary Gottlieb represented Bank of America Corporation in its sale of Bank of America (Asia) Limited, through which Bank of America conducts its retail and commercial operations in Hong Kong and Macau, to China Construction Bank Corporation. Bank of America’s Hong Kong and Macau retail franchise includes 17 offices, with approximately $6.3 billion in assets and $3.7 billion in deposits.

Cleary Gottlieb previously represented Bank of America in its 2005 acquisition of an approximately 9.5% interest in China Construction Bank, which was the single largest foreign investment ever in a Chinese company and the first strategic investment in one of China's "big four" state-owned banks.

Jul 26, 2007

Cleary Gottlieb represented the underwriters in Perfect World Co., Ltd.’s $217 million SEC-registered initial public offering. Morgan Stanley and Credit Suisse were joint book-running managers for the offering, and CIBC World Markets and Susquehanna Financial Group, LLP were co-managers. The ADRs began trading on the Nasdaq Global Market on July 26.

Perfect World, based in Beijing, China, is a leading online game developer and operator.