China & Mongolia
Coal and coal-fired power has featured prominently in our work in China and Mongolia. For example, we advised an Asian coal group on its investment strategy and alternative investment structures in the Chinese coal sector in 2005 and a few years later advised the same client on a $420 million acquisition of a coalmine and coal project in Shanxi Province. In Shanxi Province we also advised a power client on market and regulatory issues in relation to a coal mine and waste coal power project.
In Mongolia we worked for a private equity fund to evaluate a metallurgical and thermal coal project and more recently for a large Asian coal group in relation to the valuation and financial planning for some projects it planned to acquire for around $500 million.
Outbound renewable energy investment has become an increasingly important component of our China advisory activities. Our North American team was active in advising Chinese wind turbine manufacturers on opportunities to acquire projects in the U.S. for placement of wind turbines. For example, AWR Lloyd acted as advisor to a Chinese wind turbine manufacturer on a brownfield acquisition in California and has acted as commercial advisor to one of the largest Chinese wind turbine manufacturers on a series of project opportunities across the U.S.
In the oil and gas sector AWR Lloyd advised an Australian company on gas demand in southern China. We also worked for CNOOC on aspects of the due diligence relating to its bid for UNOCAL a few years ago. We have recently advised a new Hong Kong based energy storage and logistics venture in relation to a $200 million capital raising.
Outside the energy sector, we have advised a UK-based private equity fund on a zinc and lead mine investment in China.