Craig Loveless

Partner
Norton Rose Fulbright (Asia) LLP

Singapore
Singapore
T:+65 6309 5338
Singapore
Singapore
T:+65 6309 5338
Craig Loveless

Craig Loveless

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Biography

Craig Loveless is a corporate finance lawyer based in Singapore.

Craig has very extensive experience in cross border mergers, acquisitions, disposals, restructurings and joint venture arrangements both in Asia and in Europe as well as equity capital markets work.

Craig has a particular focus on the financial institutions, telecoms, real estate and commodities sectors and has worked on numerous high profile and high value transactions for multi-national clients such as AXA SA, Assicurazioni Generali S.p.A, Swiss Reinsurance Company Ltd, HSBC, CLSA, CapitaLand, and Government of Singapore Investment Corporation.

Craig graduated with a Bachelor of Laws degree from University College London and then completed the LPC at BPP Law School, London. He joined the corporate finance team in the Singapore office in 2008.

Prior to joining the practice, Craig worked in Herbert Smith’s financial institutions team in London, practicing corporate law.


Professional experience

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  • Solicitor, qualified in England & Wales

Financial institutions

  • Advising AXA SA on its acquisition of the Asian businesses (valued at A$9.8 billion) in connection with AMP Limited's takeover of AXA Asia Pacific Holdings Limited.  This transaction was shortlisted for Asia Legal Business "SE Asia M&A Deal of the Year".
  • Advising AXA SA on its joint (aborted) bid with National Australia Bank (NAB) for AXA Asia Pacific Holdings Limited (AXA APH), valued at approximately A$13.3 billion, which would have resulted in AXA acquiring the Asian businesses of AXA APH for A$9.4 billion.  
  • Advising HSBC on its acquisition of PT Bank Ekonomi Raharja Tbk, one of the 20 largest banks in Indonesia by assets, for a consideration of US$607.5 million.
  • Advising on the on-going restructuring of a French insurer’s life and general insurance businesses across Asia, involving more than ten jurisdictions and in many cases, multiple businesses in each jurisdiction. The restructuring is being implemented in various phases, the first phase (involving the Hong Kong, China and Singapore businesses) having completed at the end of 2011 following receipt of the relevant regulatory approvals.
  • Advising a multi national client on the proposed disposal of a wealth management and financial services advisory business, operating in various countries in Asia.
  • Advising a multi national client on its bid for Kurnia Insurans (Malaysia) Berhad, a leading general insurer in Malaysia.
  • Advising a multi national client on its bid for AmLife Insurance Berhad and AmFamily Takaful Berhad, a leading life insurer in Malaysia.
  • Advising a client on its proposed acquisition of RBS’s retail businesses across various Asian jurisdictions.
  • Advising a multi national bank on its bid for the corporate and retail business of ING Bank across numerous Asian jurisdictions.
  • Advising a Middle East bank on its proposed acquisition of an Indonesian conventional bank and the proposed conversion of that bank into a Sharia compliant one.
  • Advising a multi national insurer on the proposed restructuring of its life and non-life businesses in India, which will include the replacement of its existing Indian partner with a new Indian partner and subsequent merger of the new partner’s non-life business with the multi national insurer’s business.
  • Advising AXA SA on the disposal of its 60% equity interest in P.T. Asuransi Winterthur Life Indonesia (WLI), a life insurance joint venture company in Indonesia, to its joint venture partner in WLI (the Wanandi group). 
  • Advising a Middle Eastern company proposing to introduce a Sharia compliant investment product in Indonesia.
  • Advising a bidder on its bid for UOB Life Assurance Limited.
  • Advising CLSA on its investment into a vehicle financing company in Indonesia.
  • Advising a leading international insurance company on a proposed joint venture in Singapore.
  • Advising a multi national insurer in respect of its joint venture arrangements in the Philippines.

Real estate

  • Advising CapitaMalls Asia Limited on its establishment of a US$1 billion PRC real estate private equity fund.
  • Advising the Asian arm of, M+W Group GmbH, a multi national engineering and construction group, on the sale of one of its Singapore incorporated subsidiaries that owned and operated a data centre complex in Singapore for US$140 million.
  • Advising CapitaLand and Gainfield Holdings Limited (a wholly owned subsidiary of SGX-listed Auric Pacific Group Limited) on the sale of their respective 25% and 6.25% interests in Keisha Limited (which holds a 73% stake in Raffles City Shenzhen) for S$82.5 million and S$16.8 million respectively.
  • Advising CapitaLand in relation to various matters regarding Raffles City Bahrain Fund.

Telecoms

  • Advising a regional telecoms company, on numerous transactions across Asia including:
    • its proposed acquisition of a mobile operator in Sri Lanka; and
    • its proposed acquisitions of mobile operators in Vietnam and Cambodia.
  • Advising Axiata Group Berhad, the largest mobile operator in Malaysia, in connection with a preferential allotment of shares by, Indian telecoms company, Idea Cellular Limited.
  • Advising Sampoerna Strategic, a large Indonesian family owned private equity house, on:
    • its acquisition of an Indonesian telecoms operator subsequently renamed Sampoerna Telekommunicasi Indonesia (STI); and
    • its proposed structured sale of its investment in STI to Bakrie Telekom.
  • Advising on the sale of Insight Infrastructure, an Asia-focused telecom tower company to American Tower Corporation.

Resources, commodities and renewables

  • Advising the Government of Singapore Investment Corporation on its £100 million investment in Greenko Mauritius, a subsidiary of Greenko Group plc, an Indian renewable energy producer listed on the AIM.
  • Advising Arch Coal Inc on various matters in Indonesia.
  • Advising a sovereign wealth fund on its proposed equity investment into Adani Power.
  • Advising BNP Paribas as global co-ordinator on the IPO on the Indonesia Stock Exchange of BW Plantations Tbk, one of the larger palm oil producers listed in Indonesia.
  • Advising a Hong Kong listed company on its proposed acquisition of a large laterite mine in the Philippines.
  • Advising Bio-Treat Technology Limited (Bio-Treat), a main-board SGX listed entity, and the PRC’s leading waste and wastewater treatment company, on its corporate restructuring, including the restructuring of a S$206 million convertible bond.
  • Advising a clean energy fund on its acquisition of:
    • a wind farm in the Philippines; and
    • a geothermal project in Indonesia.
  • Advising Sindicatum Carbon Capital on its renewable energy investments in the Philippines, India and Vietnam.
  • Advising Climate Change Capital on its renewable energy investments in the Philippines.

Others

  • Advising Aimia Inc on the buy-out of its joint venture partner in Indonesia.
  • Advising Malaysian Airline System Berhad on its joint venture with GMR Hyderabad International Airport Limited for the provision of maintenance, repair and overhaul services at Hyderabad International Airport, India.
  • Advising Fortress Investment Group LLC on its joint venture arrangements in Malaysia.

Knowledge

Sustainable agribusiness hub

Publication | October 2018

Doing Business in Asia Pacific 2016

Publication | December 2016