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Latham & Watkins LLP

Work +852 2912 2500
Fax +852 2912 2600

Cathy Yeung

Work +852 2912 2622
Latham & Watkins LLP




Hong Kong

Corporate (including M&A)

Within: Corporate (including M&A)

Latham & Watkins LLP saw its deal volumes increase significantly in 2017, following a major expansion of the team in 2016. Its high-quality practice comes to the fore in high-profile, domestic and cross-border Greater China deals, as well as transactions across the Asia-Pacific region. Simon Cooke leads the group, whose M&A capabilities work seamlessly with the firm's complementary offerings in areas such as acquisition finance, corporate risk and government investigations, and data privacy and cybersecurity. In 2017, Cathy Yeung and members of the London office acted for China-based Hytera Communications on its acquisition of UK-based Sepura Group; this transaction represented the first acquisition of a UK-listed company by a Chinese company since 2012. In the retail and consumer sector, a more recent highlight saw Frank Sun co-lead a cross-office team that advised CITIC Capital China Partners III on its acquisition of Axilone, a France-based manufacturer of premium plastic and metal packaging for global cosmetic and beauty care brands. David Blumental, who is a fluent Mandarin and Shanghainese speaker, has assisted longstanding client Shandong Ruyi with a number of transactions, as part of the expansion of its global brand; a recent deal involved advising the client on its acquisition of INVISTA's apparel and advanced textiles business. Blumental also led a cross-office team that advised Shandong Ruyi's subsidiary company Jining Ruyi Investment on acquiring the UK-based Aquascutum Group for $117m. Another name to note is Amy Beckingham, who was one of the advisers to Indonesia-based motorcycle taxi fleet operator Go-Jek on an equity investment in it by Tencent. Terris Tang recently made partner.

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Hong Kong: Capital markets

Capital markets (debt)

Within: Capital markets (debt)

Latham & Watkins LLP¬†is one of the most active firms acting as issuer's counsel in the Hong Kong and PRC bond markets. It also has strong capabilities in relation to US listings, where its team is particularly highly regarded for its regulatory expertise. Jointly led by¬†Ji Liu¬†and¬†James Burnett, the team handles a broad cross-section of matters for issuers, underwriters and placement agents. Its wide-ranging areas of expertise include investment grade bonds, convertible bonds, global and European medium-term note programmes and exchange offers. In the high-yield space, Burnett, who has more than a decade of experience of the London high-yield debt market, advised the underwriters on Yango Justice International's $200m bond offering. The firm's other recent work includes Liu acting for China National Chemical (ChemChina) as issuer on a series of bond offerings, and also assisting Tianjin Rail Transit Group with a ‚ā¨400m bonds issuance. In 2017,¬†Cathy Yeung,¬†Allen Wang¬†and Terris Tang, who has recently made partner, advised Franshion Brilliant on a $500m senior guaranteed perpetual capital securities offering. In other developments, the practice was significantly strengthened recently when¬†Benjamin Su¬†re-joined the firm from¬†Kirkland & Ellis.¬†Counsel¬†Daying Zhang¬†has also been hired from the same firm.

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Capital markets (equity)

Within: Leading individuals

Cathy Yeung - Latham & Watkins LLP

Within: Capital markets (equity)

Latham & Watkins LLP combines local law expertise with the resources of its international platform, putting it in high demand among issuers and underwriters for advice on their most challenging, big-ticket Hong Kong and US IPOs, and other equity offerings. The firm has more than two decades' experience of the Greater China market, and assists clients with the full range of issues from a Hong Kong, US and English law angle. A key figure at the firm is Cathy Yeung, who is global co-chair of the capital markets practice and also serves as chair of the Greater China practice. Illustrative of the firm's excellent reputation for assisting PRC banks with Hong Kong listings, Yeung worked alongside Allen Wang, recently promoted partner Terris Tang and others to act for Bank of Gansu on its HK$6bn IPO on the Hong Kong Stock Exchange. In the public utilities sector, Yeung and Tang were the lead advisers to Kunming Dianchi Water Treatment, a Yunnan-based wastewater treatment and reclaimed water supplier, on its $171m Hong Kong Stock Exchange IPO of H shares. In the US, a notable highlight saw Wang lead a cross-office team that acted for the underwriters (including Citigroup Global Markets, Goldman Sachs and J.P. Morgan, among others) in BEST Inc's $450m IPO on the New York Stock Exchange. The team also acted for the underwriters (including Morgan Stanley, UBS and Bank of America Merrill Lynch) on GreenTree Hospitality Group's $143m IPO on the New York Stock Exchange. Other notable individuals include Amy Beckingham and Simon Cooke, who advised MBK Partners HK on a block trade of 34 million H shares on the Hong Kong Stock Exchange. Benjamin Su and Daying Zhang recently rejoined the firm from Kirkland & Ellis. Zheng Wang made counsel in 2017.

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