|
|
Korea
Cleary Gottlieb possui vasta experiência em operações públicas e privadas envolvendo a Coréia. Assessoramos clientes coreanos em diversas áreas, incluindo financiamentos bancários e investimentos no exterior, bem como clientes não-coreanos em investimentos na Coréia. Tais operações frequentemente requerem assessoria jurídica em diversas áreas, tais como finanças, governança corporativa, direito tributário e divulgação de informações.
Leia Mais »
Aug 27, 2008
Cleary Gottlieb represented Kookmin Bank in its minority equity stake investment in JSC Bank CenterCredit (“BCC”), a leading commercial bank in the Republic of Kazakhstan. Kookmin Bank acquired 23% of BCC’s common shares for approximately $500 million, and is expected to secure a controlling stake of 50.1% in BCC within the next 30 months. Including such additional shares, the transaction is valued at $1.2 billion and is the largest overseas M&A transaction by a Korean bank to date. The deal closed on August 27.
Kookmin Bank, the largest commercial bank in Korea with a customer base of over 26 million retail customers, is a long-time client of the firm and has American Depositary Receipts listed on the New York Stock Exchange.
Aug 20, 2008
Cleary Gottlieb served as U.S. counsel to the issuer and guarantor in a Reg. S offering of ¥52.795 billion of zero coupon guaranteed exchangeable notes by Zeus (Cayman), a special purpose entity. POSCO, the largest steel company in Korea, guaranteed the notes, which are listed on the Singapore Stock Exchange and are exchangeable into ADSs of SK Telecom Co., Ltd. ABN AMRO Bank N.V., Citigroup Global Markets Limited, Deutsche Bank AG and Goldman Sachs International acted as joint global coordinators. The offering closed on August 19.
The proceeds of the offering were used to make the final redemption payment of ¥51.622 billion on the issuer’s existing zero coupon guaranteed exchangeable notes issued in 2003, which matured on August 20. The issuer also entered into securities lending agreements with the initial purchasers to facilitate on-lending transactions with the investors in the Notes, which would enable such investors to establish their initial hedge positions in respect of the Notes.
Aug 11, 2008
Cleary Gottlieb represented LS Cable Ltd., a leading wire and cable manufacturer based in Korea, in its $1.2 billion acquisition of Superior Essex Inc., a Nasdaq-listed wire and cable manufacturer based in Atlanta, Georgia.
The transaction created the third largest wire and cable manufacturing company in the world, with pro forma consolidated 2007 revenues of $12.8 billion. This transaction represents the largest cross-border tender offer by a Korean company to date.
Jan 15, 2008
Cleary Gottlieb is representing the Korea Investment Corporation in its $2 billion investment in Merrill Lynch & Co. The deal marks the latest example of capital injections into major financial institutions by sovereign wealth funds.
KIC will invest $2 billion in Merrill Lynch’s 9% mandatory convertible preferred stock, which converts into common shares two years and nine months from the closing.
KIC is the sovereign wealth fund of South Korea and was established in 2005. This transaction represents KIC’s largest investment to date.
Jun 25, 2007
Cleary Gottlieb represented Samsung Card Co., Ltd. and the selling shareholders in Samsung Card's Won 576 billion (approximately $620 million) common stock IPO, which was the first IPO on the Korea Exchange to include an international tranche for foreign investors. Merrill Lynch acted as international tranche coordinator for the international syndicate. Korea Investment & Securities acted as lead manager for the Korean domestic syndicate. The stock was sold through a public offering in Korea and a Rule 144A/Reg. S offering elsewhere. The deal priced June 14, 2007 and closed June 25, 2007.
Samsung Card is a leading diversified consumer finance company in Korea. The company offers a broad range of financial products and services to individuals, as well as leasing services to individuals and corporate customers. Samsung Card is a member company of the Samsung Group, Korea's largest business group. Samsung Group has interests in the trading, electronics, construction, heavy engineering, chemical, insurance, finance and hotel industries.
Oct 11, 2007
Cleary Gottlieb represented The Export-Import Bank of Korea in its SEC-registered offering of MXN 1 billion 8.61% notes due 2017, which closed on October 11 and was a takedown from KEXIM’s shelf registration statement under Schedule B. Merrill Lynch was the sole bookrunner for the offering.
The notes were settled through Euroclear and Clearstream (including Indeval, the Mexican central clearing system) and listed on the International Quotation System (Sistema Internacional de Cotizaciones) of the Mexican Stock Exchange. These are the first peso-denominated notes issued by a Korean issuer.
KEXIM was established in 1976 as a special governmental financial institution pursuant to the Export-Import Bank of Korea Act to promote the sound development of the Korean economy and economic cooperation with foreign countries by extending the financial aid required for export and import transactions, overseas investment and the development of natural resources abroad.
Dec 07, 2006
Cleary Gottlieb represented the Republic of Korea (the "ROK") in its €375,000,000 4.250% notes due 2021 and US$500,000,000 5.125% notes due 2016. The notes were listed on the Singapore Stock Exchange and registered with the SEC. The offering closed on December 7.
The ROK global notes included Collective Action Clauses (CACs), which are designed to promote expeditious and orderly restructurings and workout procedures for sovereign debtors should a sovereign debt crisis ever occur. One of the most important CACs in the ROK notes is a majority amendment clause, which allows the holders of 75% of the outstanding principal amount of the notes to approve changes to the payment terms and other key provisions of the notes.
This offering was a takedown from the ROK’s $5 billion debt shelf registration statement filed with the SEC in September 2004. Barclays Capital, Citigroup, Credit Suisse and The Korea Development Bank were the joint lead managers and bookrunners for the transaction.
“With one of the oldest and largest Korea practices among overseas firms, this group has virtually unrivalled name recognition. ‘Clearly a front runner’ in capital markets, the team is widely known for its close relationships with issuers … the ‘tireless team, available at all hours,’ also advise[s] on M&A deals.”
Chambers Global (2009)
Korea Deal of the Year, Asia Equity Deal of the Year
(Samsung Card's IPO)
FinanceAsia (2007)
International Financial Law Review (2007)
Deal of the Year
(Lotte Shopping’s IPO)
Asian-Counsel (2006)
Equity Deal of the Year
(Macquarie Korea Infrastructure Fund’s IPO)
AsiaMoney (2007)
“With one of the oldest and largest Korea practices among overseas firms, this group has virtually unrivalled name recognition. ‘Clearly a frontrunner’ in capital markets, the team is widely known for its close relationships with issuers.”
Chambers Asia (2009)
“Widely renowned for its South Korea practice, the firm has ‘bags of experience working in the region.’ Armed with 12 Korean-speaking lawyers, the team handles a variety of corporate, M&A and finance work for a range of investment banks and private equity funds. However, its ‘undisputed’ capital markets practice is what makes the firm ‘stand out from the crowd.’”
Chambers Global (2008)
“In Asia, the firm is the uncontested leader of the South Korean equity and debt markets…”
Chambers Global (2008)
“This remarkable capital markets and corporate team has strong relationships with a number of Asia’s leading private equity players…”
“The team includes several Korean law experts actively involved in private equity deals in the country.”
Chambers Global (2007)
|
|
|