PRZOOM - /newswire/ -
Hong Kong, Hong Kong, 2009/05/06 - Orrick, Herrington & Sutcliffe LLP represented Antara Holdings (Asia) Limited and its founder, Winston A. Barrie, in the negotiation of an early stage investment by Preferred Freezer Services, LLC - Orrick.com.
Orrick, Herrington & Sutcliffe LLP has represented Antara Holdings (Asia) Limited and its founder, Winston A. Barrie, in the negotiation of an early stage investment by Preferred Freezer Services, LLC., one of the leading cold storage and refrigerated warehouse operators in the U.S. Orrick also represented Antara in connection with a US$14 million long term fixed rate loan provided by the International Finance Corporation (IFC) and its Dutch counterpart, FMO.
IFC and FMO also invested US$2 million of equity to finance the construction and operation of Antara's large scale cold storage facility in Ho Chi Minh City. The project, one of the first to be financed by IFC in Vietnam, is intended to provide high quality cold storage facilities to the seafood industry and is the first stage of a plan to establish an integrated national cold storage logistics network in Vietnam.
A team of Hong Kong-based Orrick lawyers led by financial markets of counsel Donna Healy and corporate partner David Halperin represented Antara and its shareholders.
"Small fish farmers suffer considerable losses due to waste and spoilage before their catch can be brought to market because there is currently insufficient cold storage space in Vietnam," explains David. "This innovative project will help to alleviate these losses and regenerate local industry. Orrick has a global commitment to supporting environmental projects so we are particularly pleased to have helped Antara with this major initiative affecting the fishing industry in Vietnam in an eco-friendly way."
Orrick, Herrington & Sutcliffe LLP (orrick.com) is a global law firm with more than 1,100 lawyers in North America, Europe and Asia. The firm focuses on litigation, complex and novel finance and innovative corporate transactions. Orrick clients include Fortune 100 companies, major industrial and financial corporations, commercial and investment banks, high-growth companies, governmental entities, start-ups and individuals. The firm's 21 offices are located in Beijing, Berlin, Düsseldorf, Frankfurt, Hong Kong, London, Los Angeles, Milan, Moscow, New York, Orange County, Pacific Northwest, Paris, Rome, Sacramento, San Francisco, Shanghai, Silicon Valley, Taipei, Tokyo and Washington, D.C.
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