DFDL

DFDL continues to have a strong presence in the Cambodian market. The firm is active in banking and finance, capital markets and corporate and M&A work. Case studies show the firm has been busy in the energy, infrastructure and real estate sectors. Chris Robinson, Clint O'Connell, Guillaume Massin and Seka Hep are key figures. The Cambodian office of DFDL has undergone considerable staffing changes with seven hires and departures of two head of practice groups and one deputy head of practice group.

General business law

Work highlights

Advising the Asian Development Bank on the preparation of the request for proposal documents for the initial project and template project agreements. This will be the first large scale solar project which is open to international bidders.

Acted for IFC on matters relating to bond investments in Cambodia as well as reviewing bond documentations.

Advised Mitsui on its acquisition of a strategic interest in the offshore parent company of Smart Axiata.

Advised China Road and Bridge Corporation on the $1.9 billion Sihanoukville Expressway public-private partnership and the concession agreement negotiated with the Royal Government of Cambodia.

Key clients

Emerald Resources NL, Mizuho Bank, Startshine, Urbanland Asia Investment

Established in 1994, ‘Outstanding’ firm DFDL provides legal services in M&A, employment, infrastructure and tax matters. Kristy Newby is the country managing director of the firm’s Laos office. She advises clients on corporate and commercial matters, with a particular focus on M&A and foreign direct investment.

General business law

Work highlights

Acted for MMG on its sale of equity interest to Chifeng Jilong Gold Mining Company.

Acted for Bank of China (Hong Kong) on its acquisition of Bank of China (Vientiane) as part of a reorganisation of Bank of China.

Key clients

ANZ Bank (Lao), Veon Eurasia SARL

With an office in Yangon, DFDL’s Myanmar practice specialises in banking and finance, capital markets, corporate and projects work, with a particular focus on infrastructure, power and mining. The firm’s real estate practice advises on shopping malls, office blocks, and condominium developments. Managing partner William Greenlee is experienced in corporate and M&A, project finance and securities matters.

General business law

Work highlights

Acted as local counsel for DBS, ING, and Oversea-Chinese Banking Corporation in the financing of the acquisition by TPG of a leading Myanmar telecommunications infrastructure company Pan Asia Majestic Eagle.

Advised Alibaba in respect of its acquisition of Daraz Group, a Pakistani online shopping platform which operates in Myanmar as ‘Shop.com’.

Acted as lenders counsel for Korean-owned bank Shinhan in connection with a $20 million loan to a Myanmar cement company.

Assisted in the leasing of two aircraft by Myanmar National Airlines from aerospace corporation Dubai Aerospace Enterprise.

Key clients

Australia and New Zealand Banking Group, Credit Guarantee and Investment Facility, Shandong Electric Power Construction Corporation, State Bank of India

Ranked ‘Outstanding’ in Tax, DFDL has a competitive edge in the banking and financial services, energy, real estate and technology and telecommunications sectors. Managing director Audray Souche is known for her expertise in energy, mining and infrastructure projects as well as diverse experience in corporate and M&A, commercial, regulatory and banking and finance. Tax specialists Jonathan Blaine and Jack Sheehan are also notable.  

Banking and finance

Work highlights

Advised Lao-Thai corporations and Thai banks on the $1.2 billion project financing for the Nam Theun 1 hydropower project in Laos, using an ethical Chinese Wall-type structure.

Key clients

Credit Suisse, Norfund

Capital markets

Work highlights

Advising a company in raising finance through debt and equity.

Advising an asset management company in Singapore on Thai capital markets laws and regulations.

Construction

Work highlights

Advising Laos-China Railway Company on the $5.9 billion development of the China-Laos Railway, drafting the shareholders’ agreement, concession agreement, and documents on the project’s finance and security.

Key clients

Anamaya Samui, International Finance Corporation

Corporate and M&A

Work highlights

Advised Lomligor, a wind power plant operator in Thailand, on its sale of a wind power plant to BCPG, one of Thailand’s largest renewable energy producers.

Acted for Macquarie Capital, the investment arm of the Macquarie Group, on its acquisition of businesses that focus on solar energy engineering, procurement, construction, operations and maintenance services, such as the purchase of Conergy Asia’s solar energy team and development portfolio through its renewable energy investment platform, Green Investment Group.

Key clients

B Grimm, Beehive Asia, Lew Yeo Hotel Management (Thailand), Revolut

Labour and employment

Work highlights

Advising companies on the labour and employment laws and the other relevant issues.

Restructuring and insolvency

Work highlights

Advising companies on corporate restructuring as well as bankruptcy proceedings.

Tax

Work highlights

Advised Axion Ventures, a Canada-based investment entity focused on investments in online video gaming and information technology, on the tax issues connected to its expansion in Thailand.

Key clients

Decathlon

Client feedback

“Very professional and efficient.” – Corporate and M&A

Vinay Ahuja

“Responsive and competent.”

Ivy Liu

“Very professional, efficient and considerate.”

Regional firm, DFDL has a strong foothold in the Vietnam market because of its core strength in banking and finance, capital markets, corporate and M&A and tax. The firm boasts banking and finance experts Martin Desautels, Jerome Buzenet and Phong Anh Hoang. In a bid to bolster its energy and infrastructure practice, the firm hired Angus Mitchell and Ivy Liu from DFDL Thailand as partners during the research period.

Banking and finance

Work highlights

Advising Quadran International on the financing and security arrangements with the Bank for Investment and Development of Vietnam (BIDV) for development of 49.5 MW Cat Hiep solar power project.

Advised Kamaz Trade, the Vietnamese subsidiary of one of the largest automobile corporation in Russia, on the financing of nearly $16 million from the Eximbank of Russia.

Key clients

Australia and New Zealand Banking Group, Weshare

Capital markets

Work highlights

Assisted Discovery Capital Management on its investment in the $1.35 million IPO of Vinhomes, Vietnam’s biggest share issue.

Key clients

Clermont Capital, Ward Ferry Management

Corporate and M&A

Work highlights

Assisting AirAsia’s investment in Hai Au Aviation, an aviation company currently owned by Vietnamese travel and hospitality group Thien Minh Group.

Advised Thai investor, B Grimm Power, in relation to its majority acquisition of a 257 MW Hoa Hoi solar project in Phu Yen Province from Truong Thanh Viet Nam Group.

Key clients

ACA Investments, NewQuest Capital Partners, Probus Opportunities 

Client feedback

“DFDL benefits from a top industry knowledge in renewable energy and is very well aware of the Vietnamese environment. On that basis, they were able to advise us in most efficient way, specifically during the acquisition negotiations (SPA/SHA).” – Energy

Angus Mitchell

“Angus is a great professional, and he was able to deliver and to find solutions to our problems when we first set up in Vietnam. He has been key to help us developing in Vietnam and to be successful.”