Michael J. Preston advises a broad range of private equity and corporate clients on mergers and acquisitions, co-investments, joint ventures, and other commercial transactions.
He has experience across a range of business sectors, with particular experience in financial services, health care, natural resources, and technology, and he has worked extensively in the emerging markets. Michael also has significant experience advising clients on issues related to investment funds, acquisition finance, and alternative investment structures.
Michael joined the firm in 2005 and became a partner in 2011. From 2005 to 2010, he was resident in the London office. From 2011 to 2015, he was resident in the Hong Kong office. Previously he was an associate at Allen & Overy LLP in London and at Russell McVeagh in Wellington, New Zealand.
TPG Capital and Growth funds in a range of transactions including its:
- equity investment in China International Capital Corporation, the first foreign private equity investment in a Chinese securities firm;
- investment in Moroccan schools operator Ecoles Yassamine, TPG’s debut investment in Africa;
- acquisition of a majority stake in Union Bank of Colombo, TPG’s first investment in Sri Lanka;
- equity investment in Indian microfinance company Janalakshmi Financial Services, Ltd.;
- equity investment in Indian healthcare group, Sutures India;
- investment in PT Delta Dunia Makmur, an Indonesian mining services company;
- acquisition of a majority stake in Indonesia’s PT Bank Tabungan Pensiunan Nasional, in the bank’s subsequent rights offering, and in the disposal of the investment;
- acquisition of approximately 45 percent of BFI Finance Indonesia, an Indonesia-listed consumer lender; and
- equity investment in PropertyGuru, the online real estate services group.
African Minerals in a $1.5 billion investment by Shandong Iron & Steel Group.
China’s Sichuan Hongda Group in its $3 billion joint venture with Tanzania’s National Development Corporation to implement an integrated mining, power production and steel-making project in Tanzania.
Northstar Equity Partners III in its acquisition of approximately 20% of PT Multistrada Arahsarana Tbk, an Indonesia-listed tire manufacturer.
TPG, PAG, and OTPP in their acquisition of DTZ, real estate services firm Cushman & Wakefield, and Cassidy Turley, and subsequently Cushman & Wakefield in its $831 million initial public offering.
Hillhouse in a number of investments in the technology sector in China.
Alnair Capital Holdings JSC in the acquisition of an approximately 25% stake in JSC Kazkommertsbank and assistance with ongoing management of the stake and negotiations regarding recapitalization and infusion of cash.
Helios Investment Partners in its Sh11 billion acquisition of a 24.99% stake in Equity Bank Ltd in Kenya, and in its acquisition of a 22% stake in a joint venture vehicle established by Portugal Telecom to hold all of its telecommunications assets and interests in sub-Saharan Africa valued at $1.2 billion.
Tele2 in its acquisition of a 51% interest in Kazakhstan’s MTS, a mobile telecommunications company.
EuroSibEnergo in its joint venture with China Yangtze Power for the development of hydro and thermal power projects in the Russian Far East.
The founders of KazakhGold Group in the sale of a controlling stake in the company.
Korea’s SK Networks in its $700 million equity investment in Brazil-based MMX Mineração e Metálicos.
Mittal Investments in the acquisition of an interest in Ophir Energy plc, an oil & gas exploration company, and in its participation in Algeria’s second oil & gas licensing round.
TNK-BP in the sale of its oilfield services business to NYSE-listed Weatherford International Ltd.
February 06, 2019