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David Zemans is Managing Partner of Milbank's Singapore office, where his experience includes project finance, restructurings, banking, direct investment transactions and mergers and acquisitions. David has an especially strong focus in private equity driven acquisitions in the region. He has been based in S ngapore since 1997. David has also acted for both lenders and developers in relation to power and telecommunications projects and other major infrastructure projects throughout Asia. His recent representations include:
the purchasing consortium that acquired PT Adaro Indonesia, Indonesia's largest coal mine, in a US$950 million dollars leveraged buyout. The consortium included Goldman Sachs, Citibank, Farallon Capital, GIC and the Kuok Group. (winner of ALB's SE Asia Deal of the Year; SE Asia M&A Deal of the Year)
the project sponsors (BP, SembCorp, Kyushu Electric and Nissho Iwai) on the 715 MW Phu My 3 power project in Vietnam.
DBS Bank Ltd. in the US$215 million acquisition financing of PT Mitra Global Telekomunikasi Indonesia (MGTI).
DBS Bank Ltd. in the US$130 million financing of the acquisition of the assets and business of Metalform Pte Ltd.
DBS Bank Ltd in the US$265 million acquisition financing of Astro All Asia Networks Limited.
Citigroup and ABN AMRO in connection with the €230 million acquisition financing by IOI Corporation of Malaysia.
ABN AMRO on the US$735 million acquisition financing by Maxis Holdings to purchase all of British Telecom's and AT&T's shares in the capital of Maxis Communications (the largest US dollar loan to a Malaysian corporate entity since the financial crisis).
The FarIndo Consortium in its acquisition of a 51% stake in PT Bank Central Asia Tbk (BCA), (the largest private bank in Indonesia).
JP Morgan and Standard Chartered Bank, as lenders, in the US$230 million leveraged buyout by Citibank Venture Capital and UBS of Wong's Circuits.
JP Morgan, Hana Bank and Kookmin Bank as lenders in the US$300 million leveraged buyout by Citibank Venture Capital, the Carlyle Group and PPM Ventures of Daewoo Telecom's transmission systems and data networks business, fiber optic and cable manufacturing business and digital communication switching business.
the creditors' committee in the US$196 million debt restructuring of PT Danareksa (Persero) in 2002.
Thai Telephone & Telecommunication Public Co. Ltd. in its US$1.4 billion financial restructuring.
the bank creditors and suppliers in the US$285 million financial restructuring of PT Aria West International ("Indonesian Debt Markets Deal of the Year" by Asiamoney magazine in 1999).
David is cited as one of the World's Leading Private Equity Lawyers in IFLR's Expert Guide and is also cited in the 2005 Leading Lawyers Survey as one of Asia's leading business lawyers in Project Finance (AsiaLaw Leading Lawyers 2005-Asia Law & Practice. Euromoney/Institutional Investor) and has been recognized as a leading project finance lawyer in Euromoney's "Best of the Best" Legal Expert Guide 2005. He studied at McGill University in Montreal and received an LL.B from Dalhousie University in Halifax. He is licensed to practice in the Province of Ontario, Canada and is a solicitor in England and Wales. | 