DEALS

in Shanghai. The REIT, which was recently approved by the China Securities Regulatory Commission and the Shanghai Stock Exchange, shall hold three Chinese logistics parks totaling 350,995 sq mts (1.2 million sq ft) with a combined value of Rmb1.565 billion (US$231.6m). These include the first phase of JD.com Chongqing E-commerce Park, a transshipment and logistics center in Chongqing, as well as the company’s Asia No. 1 Logistics Parks in Wuhan, Hubei province and Langfang, Hebei province. Partners Wang Jianzhao , Yang Guangshui and Bao Zhi led the firm’s team in the transaction.

Gide has advised Multicultural IngenuityTM digital expert Datawords on its acquisition of award-winning integrated communication Chinese company SwitchingTime. The acquisition, which was supported by Keensight Capital, Datawords’ majority shareholder, aims to empower international brands with digital campaign solutions in China. Shanghai partner Fan Jiannian led the firm’s team in the transaction.

Harneys has acted as Cayman Islands counsel to Gaush Meditech on its successful IPO with net proceeds of HK672$ million (US86.4$m). Its shares were listed and commenced trading in Hong Kong on 12 December 2022. Gaush is a leading supplier of ophthalmic medical devices in mainland China. Proceeds from the listing will be used to enhance the company’s research and development capability, accelerate the commercialisation of its patents, and upgrade its equipment product portfolio relating to ophthalmic diagnostic and screening. Shanghai corporate partner Calamus Huang, supported by Hong Kong global banking & finance and corporate partner Raymund Ng, led the firm’s team in the transaction, while Tian Yuan Law Firm, O’Melveny & Myers and Commerce & Finance Law Offices provided Hong Kong, US and Chinese advice, respectively. Sullivan & Cromwell (Hong Kong) advised the joint sponsors and underwriters on Hong Kong and US laws, while Jingtian & Gongcheng advised on Chinese laws.

Herbert Smith Freehills has advised e& enterprise, part of e& (formerly known as Etisalat Group, a UAE-based global technology and investment group), on its joint venture with Bespin Global, a leading global public cloud managed services provider. The joint venture, which responds to huge regional demand for cloud-based services, will create a major player in this field in the Middle East, Turkey, Africa and Pakistan. By combining e& enterprise’s strong local market presence and Bespin Global’s best-in-class skills in cloud operations, the JV will allow to extend products and services to governments and large enterprises to meet their needs to accelerate digital transformation in the region. To operate as Bespin Global MEA, the JV will be 65 percent owned by e& enterprise and 35 percent owned by Bespin Global. The total investment and future commitments are expected to be over US$100 million. Both e& enterprise and Bespin Global will contribute their existing public cloud businesses from the region to the JV. At the same time, e& will access the South Korean market, and potentially unlock further collaboration with existing shareholders of Bespin Global by making a primary investment of US$60 million in Bespin Global, with the option to invest another US$60 million in Bespin Global