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Jones Day has advised Asian real estate fund manager ARA Asset Management on its $1.28 billion buyout, along with a group of investors that were represented by Allen & Gledhill.

Straits Trading Company, ARA's biggest investor with a 20 percent stake, was represented by WongPartnership. Latham & Watkins, led by partners Amy Beckingham and Gary Hamp, advised investors Warburg Pincus and AVIC Trust. Conyers Dill & Pearman provided ARA with counsel on matters related to Bermuda law.

Trading in ARA, which manages S$30 billion in Asian property assets and has a market value of about $1.1 billion, has been halted since Thursday pending an announcement, reported Reuters.

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