Weil Advises China ASEAN Fund on Investment in Negros Navigation and Acquitision of ATS

Weil, Gotshal & Manges is representing China-ASEAN Investment Cooperation Fund in connection with the proposed investment by its subsidiary, China-ASEAN Marine B.V., in leading Philippine shipping company Negros Navigation Co, Inc. (Nenaco) and Nenaco’s proposed acquisition of up to 100% of Aboitiz Transport Systems Corporation (ATS). The transaction will bring together two well-established companies in the Philippine domestic shipping industry. China-ASEAN Investment Cooperation Fund is a private equity fund sponsored by the China Export-Import Bank. It targets investment opportunities in the 10 ASEAN countries, focusing on infrastructure, energy and natural resources. With the ultimate goal of enhancing trade flows and interconnectivity among China and ASEAN nations, the initiative for the Fund was announced by Chinese Premier Wen Jiabao in 2009.

The team was led by Hong Kong partner Peter Feist, and included Shanghai partner Suat-Eng Seah, and Hong Kong associates Erika Evasdottir and Carrie Suen.

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