HONG KONG, Jun 11, 2012 (BUSINESS WIRE) –
Sidley Austin successfully represented Petron Corporation, the
Philippines’ largest oil refining and marketing company and a subsidiary
of San Miguel Corporation, in connection with the financing of its
US$577.3 million acquisition of ExxonMobil’s downstream oil business in
Malaysia.
The financing transaction included a two-year acquisition bridge loan
with Petron Oil Gas International Sdn. Bhd., a Petron subsidiary, as
borrower, which was used primarily to finance the acquisition. It also
included five-year working capital facilities.
Partner Alex Lloyd led the Sidley team, which also consisted of counsel
Robert Mason and associates Benjamin Carale and Olivia Ngan.
Commenting on the transaction, Mr. Lloyd said, “We are honored to have
had the opportunity to advise Petron in its successful acquisition
financing transaction. This has followed the initial public offering of
GT Capital in April, on which we represented the issuer. We are very
pleased to have closed two significant transactions in the Philippines
in recent weeks and look forward to further utilizing our corporate
finance experience in the Southeast Asia markets to assist more clients
in the near future.”
***********************Note for Editors ***********************
In 2012, Sidley celebrates 30 years in Asia as one of only a few U.S.
law firms with a continuous presence in the region for three decades.
During that time, we have earned a reputation as a leading law firm in
Asia, with extensive knowledge in the critical areas for international
business and a sensitivity to the cultural differences that impact our
clients who are considering and executing cross-border transactions.
Sidley has one of the largest and most active Asia Pacific corporate
finance teams, with over 70 legal professionals in the group. Our
reputation for creativity is evidenced by IFLR Asia’s 2010 award,
Most Innovative U.S. Law Firm. We are also recognized for our corporate
finance practice by legal directories such as Chambers, Asia Pacific
Legal 500 and IFLR 1000. We have acted on several corporate
finance transactions in the Southeast Asia region, such as the
Philippines, Indonesia and Vietnam, as well as in mainland China, Hong
Kong, Macau and Taiwan.
Sidley Austin LLP is one of the premier full-service law firms, with
approximately 1700 lawyers practicing in 18 U.S. and international
cities, including Beijing, Brussels, Frankfurt, Geneva, Hong Kong,
London, Shanghai, Singapore, Sydney and Tokyo. Repeating its performance
in the inaugural 2010 survey, Sidley received the most first-tier
national rankings of any U.S. law firm in the 2011/12 U.S.News —
Best Lawyers “Best Law Firms” survey. Sidley was also named the U.S.News
— Best Lawyers “Law Firm of the Year” in both Corporate Law and
Securities Regulation in the 2011/12 survey (the first year of such
designations). BTI, a Boston-based research and consulting firm, has
named Sidley as one of only three firms to have been in the top ten of
the BTI Client Service rankings every year since the inception of those
rankings in 2001, and as number one in three of those years.
For purposes of the New York State Bar rules, this press release may
be considered Attorney Advertising and the headquarters of the firm are
Sidley Austin LLP 787 Seventh Avenue, New York, NY 10019, 212.839.5300
and Sidley Austin LLP One South Dearborn, Chicago, IL 60603,
312.853.7000.
SOURCE: Sidley Austin
Sidley Austin
Lisa Kong, 852-2509-7899
Marketing Director
lkong@sidley.com
or
Janet Zagorin, 1-212-839-8797
Client Service Officer
jzagorin@sidley.com
Copyright Business Wire 2012
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