July has been a strong month for M&A according to IFLR1000's selection of deal announcements, with healthy dealflow in the global equity capital markets and slightly less activity in the debt space across a host of sectors. In the past month there have been many deals cutting across practice areas in energy, financial services, banking, and technology and telecommunications. 

The dearth in high-end Hong Kong IPOs has generated buzz as the city-state struggles to hang on to its reputation as the top listings market. However, July produced two deals of note as Zhongyuan Bank—the largest city commercial bank in China's Henan province—undertook the second-largest HKSE IPO of 2017 raising $1 billion; and China Literature—a Tencent majority owned e-book company—hit the market raising $800 million. Globally, Atacadão—the Brazilian subsidiary of hypermarket Carrefour—offered over 297 million shares as part of its $1.4 billion IPO, which was Brazil's largest in four years.  

M&A deal values were close to $60 billion at the top end of the market, with Kirkland & Ellis supplementing its high volume practice with high value deals such as Cosco Shipping Holdings $6.3 billion acquisition of Orient Overseas and Nesta Investment Management's $12 billion acquisition of Global Logistic Properties. Having said that, it comes as no surprise that Kirkland & Ellis took the double and reclaimed pole position in the deal volume table for the tenth time in the last 12 months with 28 deals.

Elsewhere—from Lithuania to Spain—green bonds have been flourishing. ADIF-AV, which is part of the Spanish Ministry of Public Works, issued the first ever green bond by a publicly-owned company at €600 million; and Lithuania's Lietuvos Energija completed its debut Reg S €300 million green bond under the company's €1 billion EMTN programme, which was also given the highest green designation by the Center for International Climate Research.

In the UK, M&A transactions in the payment processing sector has been a trend as Blackstone and CVC Capital Partners launched a £2.9 billion takeover bid for Paysafe, and Vantiv acquired UK’s leading payment processor Worldpay Group for £9.1 billion. Moreover, LKK Health Products Group—a Hong Kong herbal products manufacturer—acquired 20 Fenchurch Street—the 'Walkie Talkie' building—for £1.28 billion from Land Securities and the Canary Wharf Group in the latest deal in a string of high profile London real estate acquisitions by Asian investors this year. 

If you have any public deal announcements you would like us to take into account for our reports please send them to - amajeed@iflr1000.com

The EMEA launch of IFLR1000 Deal Data—a fully searchable database whose BETA version went live in May last year—is well underway with Asia-Pacific close at hand. This database of significant deal records from over 120 countries will include searchable and filterable data on the most significant legal transactions from around the globe, and all of our featured monthly deals will be included along with many more garnered from the IFLR1000's own research, press releases and other deal announcements.

Below you can access our top picks for July 2017 linked to their record in the new deals database.

Adam Majeed - Asia-Editor


Mergermarket table 1 - Law firms by global M&A deal value

 Mergermarket table 2 - Law firms by global M&A deal volume



Deal 1: ADIF-AV €600 million 0.8% green bond issue


Jurisdictions: Spain

Deal type: Investment grade bond/note issue, Green bond issue

Industry sectors: Energy, Government and public policy 

Deal 2: Attica Bank €1.3 billion NPL securitisation


Jurisdictions: Greece, Luxembourg

Deal type: Investment grade bond/note issue, Private acquisition, Securatisation

Industry sectors: Banking, Financial services 

Deal 3: Blackstone and CVC Capital Partners £2.9 billion bid for Paysafe Group

Jurisdictions: United States, Isle of Man, United Kingdom

Deal type: Public acquisition

Industry sectors: Financial services, Technology and telecommunications 

Deal 4: Budapest Airport €1.32 billion debt restructuring

Jurisdictions: United Kingdom, Hungary 

Deal type: Financial restructuring, Investment grade bond/note issue

Industry sectors: Transport, Aviation 

Deal 5: Carrefour B3 IPO


Jurisdictions: Brazil

Deal type: IPO

Industry sectors: Consumer goods and services

Deal 6: Cheung Kong Property Holdings and CK Infrastructure Holdings €4.5 billion acquisition of Ista

Jurisdictions: China, Germany

Deal type: Private acquisition

Industry sectors: Energy, Technology and telecommunications 

Deal 7: China Literature HKSE IPO

Jurisdictions: Hong Kong

Deal type: IPO

Industry sectors: Technology and telecommunications

Deal 8: Cosco Shipping Holdings $6.3 billion acquisition of Orient Overseas

Jurisdictions: China, Hong Kong

Deal type: Public acquisition

Industry sectors: Shipping

Deal 9: CTE €2.92 billion bond issue

Jurisdictions: France

Deal type: Investment grade bond/note issue 

Industry sectors: Energy

Deal 10: Didi Chuxing and SoftBank $2 billion investment in Grab

Jurisdictions: Singapore

Deal type: Financial investment

Industry sectors: Technology and telecommunications

Deal 11: KKR $2.8 billion acquisition of WebMD Health


Jurisdictions: United States

Deal type: Public acquisition

Industry sectors: Healthcare

Deal 12: Landis+Gyr SIX Swiss Exchange IPO

Jurisdictions: Switzerland

Deal type: IPO

Industry sectors: Energy

Deal 13: Lietuvos Energija €300 million debut green bond issue

Jurisdictions: Lithuania

Deal type: Green bond issue

Industry sectors: Energy

Deal 14: LKK Health Products Group £1.28 billion acquisition of 20 Fenchurch Street (Walkie Talkie)

Jurisdictions: United Kingdom

Deal type: Private acquisition

Industry sectors: Real estate

Deal 15: Markel $919 million acquisition of State National Companies

Jurisdictions: United States

Deal type: Public acquisition

Industry sectors: Insurance

Deal 16: MSU Energy Group $230 million financing

Jurisdictions: Argentina

Deal type: Project finance

Industry sectors: Energy 

Deal 17: Nesta Investment Management S$16 billion acquisition of Global Logistic Properties

Jurisdictions: China, Singapore 

Deal type: Private acquisition 

Industry sectors: Logistics

Deal 18: Vantiv £9.1 billion acquisition of Worldpay Group

Jurisdictions: United States, United Kingdom

Deal type: Public acquisition, Scheme of arrangement 

Industry sectors: Financial services

Deal 19: Zhongyuan Bank HKSE IPO

Jurisdictions: Hong Kong 

Deal type: IPO

Industry sectors: Banking



Sam Duke - Editor

Adam Majeed - Asia-Pacific Editor

Ben Naylor - EMEA Editor

Jon Moore - Journalist EMEA

Anna Kozakova - Journalist EMEA

Wai Yee Tsang - Journalist Asia-Pacific

Rani Mehta - Journalist Latin America

Kurt Stumpo - Journalist - North America and the Caribbean

Katrin Kostadinova - Data Analyst - Global