Recently viewed firm profiles
Recently viewed lawyer profiles
The past year saw a general reduction in China-related M&A activity, with the weak global economy, the sovereign debt crisis in Europe and China’s leadership change all being contributing factors. The private equity sector in Greater China has also struggled in recent times, and the continued uncertainty in the global economy and shifting investment strategies have led to an increase in divestments by multinational companies and other foreign investors.
Nonetheless, the enthusiasm of Chinese state-owned enterprises (SOEs) for energy and resources assets continues to drive outbound investment, as indicated by several significant oil and gas deals announced by Chinese oil companies in relation to assets in Latin America, Canada, the US, Australia and Africa, as well as increased activity in the renewable sectors, both on the inbound and outbound sides.
King & Wood Mallesons again provided the legal market’s breaking news, in July 2013 sealing a merger with UK legal practice SJ Berwin LLP; the tie-up is set to go live in November 2013. Other highlights included Norton Rose LLP’s combination with US law firm Fulbright & Jaworski LLP to form Norton Rose Fulbright, adding Hong Kong and Beijing-based Jeffrey Blount and Jie Zhang to the practice.
Recently opened mainland China offices for international firms include Eversheds LLP launching in Beijing with two new partner hires in corporate energy law expert Ingrid Zhu-Clark, who joined from the Beijing office of Morgan Lewis LLP, and corporate lawyer Jay Ze; and Seyfarth Shaw LLP opening a new Shanghai office after hiring DLA Piper’s Wan Li as its chief representative. DLA Piper also recruited, bringing in Hong Kong based China energy head Carolyn Dong from King & Wood Mallesons.
Among other developments, Vinson & Elkins L.L.P. announced the closure of its Shanghai office; Milbank, Tweed, Hadley & McCloy LLP appointed new leadership in China, with Anthony Root, the former head of its Asian corporate practice and Greater China offices, retiring in May 2013 and corporate partner Edward Sun, the chief representative of the firm’s Beijing base, set to leave before the end of the year; and Akin Gump Strauss Hauer & Feld LLP bolstered its Beijing corporate practice with the addition of Chen Li, who joined from Milbank, Tweed, Hadley & McCloy LLP.
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