Firms To Watch: Corporate and M&A: foreign firms

LPA-CGR, an international law firm headquartered in Paris, is a go-to for Sino-French transactions; the team enjoys a strong regional presence, with offices also in Hong Kong, Singapore and Tokyo.
Nishimura & Asahi handles a broad varies of Japan-China transactions and regularly assists Japanese clients with the establishment of local subsidiaries.
Led by Wei Liu, Pinsent Masons advises on inbound and outbound M&A deals in addition to private equity transactions.

Corporate and M&A: foreign firms in China

Clifford Chance LLP

Magic Circle firm Clifford Chance LLP leverages a presence of over 40 years in the local market, fielding a team of over 70 corporate and M&A practitioners across its Beijing, Shanghai and Hong Kong offices. The department is adept in all-manner of transactions and is co-led by Terence Foo, a specialist in the energy, TMT and financial services sectors, who has garnered acclaim for his assisting of multinationals with their inbound investments and Chinese entities with their outbound acquisitions. Glen Ma brings over 20 years of supporting overseas entities with their expansions into China whereas Kelly Gregory is ‘an exceptional advisor’ for joint ventures, disposals, reorganisations; both are extremely knowledgeable of the consumer goods, retail and manufacturing fields. At the more junior end, counsel Yi Yang and Yan Yuan are particularly integral to the offering; the former due to his reputation among international pharmaceutical and healthcare companies and the latter owing to his private equity proficiency. Named lawyers are based in Shanghai with the exception of Foo who also spends time at the firm’s Beijing office.

Practice head(s):

Terence Foo; Glen Ma

Testimonials

‘Kelly Gregory is an exceptional adviser, always helpful, pragmatic and on top of all elements. A true superstar.’

The team has a very collaborative and adaptive spirit.’

Key clients

Carrefour

New World Development / NWS Holdings

Pfizer

EDF

Total Eren

Arla

Haier

COFCO

State Grid

CITIC

Work highlights

  • Advised Shanghai and Frankfurt listed Haier Smart Home Co., Ltd. on the proposed privatisation of its Hong Kong-listed subsidiary Haier Electronics Group Co., Ltd. (stock code: 1169).
  • Advised Kirkbi A/S on its partnership with Merlin Attractions Operations Limited, CMC Holdings HK Limited (an affiliate of China Media Capital) and Shanghai Guoyi Investment Management Co., Ltd. (a Chinese state-owned enterprise and affiliate of the Shanghai Jinshan district government) to establish one joint venture to develop, construct and own the Shanghai LEGOLAND Resort and a second joint venture to operate and manage the Shanghai LEGOLAND Resort.
  • Advised J.P. Morgan on its role as the exclusive financial advisor to S.F. Holding Co., Ltd. (the offeror in the transaction) on S.F. Holding’s HK$17.6bn (US$2.3 bn) acquisition of 51.8% stake in Kerry Logistics Network Limited.

Paul, Weiss, Rifkind, Wharton & Garrison LLP

Paul, Weiss, Rifkind, Wharton & Garrison LLP is home to a highly-specialised practice consisting of lawyers completely dedicated to M&A and private equity mandates. Greg Liu demonstrates long-standing prowess in capital market, take-private and PIPE transactions involving US, PRC, Hong Kong, Thailand, Taiwan and Singapore-listed companies. Based alongside him is Judie Ng Shortell, a TMT sector veteran, whose practice revolves around private equity investments and cross-border M&A. At the more junior end, associate Jack Sun already counts several prominent state-owned enterprises and private equity outfits among his client list. Betty Yap departed in January 2022.

Other key lawyers:

Greg Liu; Judie Ng Shortell; Jack Sun

Key clients

Wumei

State Grid Corporation

Tencent

Didi Chuxing

MagnaChip Semiconductor

Dalian Wanda Group

Hillhouse Capital

KKR

DCP Fund

General Atlantic

Work highlights

  • Advised General Atlantic LLC, a lead member of an investor consortium, in its acquisition of 58.com, China’s largest online classifieds marketplace, for an enterprise value of $8.7bn.
  • Advising State Grid International Development Limited in its approximately $3.04bn acquisition of Compania General de Electricidad S.A. (CGE) from Naturgy Energy Group S.A.
  • Advising Wanda Sports & Media (Hong Kong) Holding Co. Limited in its tender offer, announced on December 23, 2020, to acquire all of the Class A Ordinary Shares of Nasdaq-listed Wanda Sports Group Company Limited, including shares represented by American Depositary Shares.  

Skadden, Arps, Slate, Meagher & Flom LLP

Headquartered in New York, Skadden, Arps, Slate, Meagher & Flom LLP is principally active in the consumer, education, TMT and financial institutions sectors. The group is engaged in a considerable variety of transaction types including inbound and outbound investment, joint venture, company reorganisation and joint venture deals in addition to SPAC and going-private transactions, both of which are increasingly prevalent within the market. Peter Huang, cited as ‘well-connected and fantastic with clients’ leads the Beijing office, counting cross-border acquisitions by Chinese companies and foreign investments into China as the keystones of his practice. Elsewhere in Shanghai, Haiping Li enjoys a formidable track record in advising US-based public companies in respect of M&A, investments, dispositions and business combinations. The firm is also a market leader within the Hong Kong market and runs a workload that is spread across the entirety of the region, encompassing jurisdictions such as Australia, India, the Philippines and Singapore.

Testimonials

‘Peter Huang is extremely well-connected; commercial, fantastic with clients.’

We have used teams of Skadden attorneys in the M&A and PE fund practices (separately and together), in Hong Kong and China. They are deeply experienced in targeted SE Asia acquisitions (especially in China and Hong Kong), together with SE Asia-focused global acquisitions. We were especially impressed with the quality, creativity and business savvy support they provided on an innovative partnership between an MNC and China-focused PE firm, on topics that covered the globe. Few, if any, law firms can provide the depth, breadth and savvy of the Skadden China team/Skadden global team.’

Key clients

Baidu

ByteDance

Huya

JD.com

JOYY

SINA

Auchan Retail

Yixin Group

58.com

BitAuto

Work highlights

  • Advised 58.com Inc. (China) in its US$8.7bn going-private acquisition by a consortium of investors led by Quantum Bloom Group Ltd. and its subsidiary Quantum Bloom Company Ltd.
  • Acted for ByteDance Ltd. in its over US$4bn acquisition of Moonton Holdings Limited, a China-based mobile games developer.
  • Advised the special committee of independent and disinterested directors of HUYAInc.in its US$6bn merger with DouYu International Holdings Limited.

Allen & Overy LLP

At ‘excellent’ Magic Circle firm Allen & Overy LLP, Victor Ho and Benjamin Crawford have recently supported numerous TMT sector clients on the ramifications of US-China trade tensions; the wider team and has also noted an upturn in its privatisation and public M&A work of late and runs a considerably varied workload which also includes joint ventures and restructurings in addition to outbound, inbound and private equity investments. Ho, who splits his time between Hong Kong and Beijing, is engaged by both PRC and multinational clients on a broad array of cross-border transactions, directing particular emphasis towards deals with regulatory and compliance elements; the group also consists of Shanghai-based duo Jack Wang, a lawyer with an ‘excellent understanding’ of the food and beverage, automotive, pharmaceutical and retail sectors, and Jean Ye who supports financial institutions, private equity houses, real estate funds and corporates on the full-array of cross-border transactions.

Practice head(s):

Will McAuliffe; Victor Ho

Testimonials

‘Strengths and capabilities: Excellent team (work), very committed, client-oriented and overall excellent collaboration. Very responsive, very short turnover times. Extremely dedicated serving the client’s needs, in particular under time pressure and identifying the optimal solutions. Proactive, thinking ahead. Strong and close communication.’

‘Jack Wang is our key account lead partner for many years. He is extremely client-oriented, has an excellent understanding of our business needs and is dedicated to finding the optimal solutions. Provides extremely helpful guidance, pro-actively coordinates, strong negotiater.’

‘Paul Jing is an extremely responsive, diligent and fast working Senior Associate. Very committed, excellent collaboration and pro-active communication. Very good negotiation skills.’

The team including the partners, follow the overall progress of the case all the time and makes valuable suggestions on the legal issues specific to the project.’

‘The firm offers expertise in various sectors, from M&A to data protection, and has recently added an IP team.’

‘Benjamin Crawford and Ling Li are very responsible.’

Key clients

Cargill Investments (China) Ltd.

Alimentation Couche-Tard

CCHL Fast Food Holdings Limited

Kingboard Holdings Limited

Zhuhai Holdings Investments Group Limited

CLSA Capital Markets Limited

Guotai Junan Fund Management Limited

International automotive OEM

HP Inc.

China Resources

Work highlights

  • Advised China Datang Corporation on its acquisition of the Indonesia-based power generation plants from PT Dian Swastatika Sentosa Tbk (DSSA) for consideration of US$394m.
  • Advised CITIC Capital Holdings on its $US522m acquisition of a 22% stake in McDonald’s business in mainland China and Hong Kong, the largest McDonald’s franchise outside the United States.
  • Advised Alimentation Couche-Tard on its acquisition from Hong Kong-listed Convenience Retail Asia Ltd. of its entire network of Hong Kong and Macau Circle K-licensed convenience stores for a cash consideration of HK$2.8bn.

Baker McKenzie FenXun

Baker McKenzie FenXun is a joint operation office and was the first of its kind to be approved by the Shanghai Bureau of Justice. Working in close tangent with the Hong Kong office, the group is home to a full-suite M&A service, complimented by the firm’s wider prowess in tax, compliance, employment, disputes and merger control mandates. Shanghai-based Howard Wu is a leading lawyer for M&A within the IT, retail, consumer goods and projects industries and hones his focus on PRC-related cross-border transactions, a forte complimented by his qualification to practice law in California. Elsewhere in Beijing, Bee Boo is frequently engaged in private equity and venture capital transactions while Stanley Jia is a key contact for foreign indirect investment projects; the pair boast expertise in a number of specialised sectors such as oil and gas, mining, energy and aviation and automotive.

Practice head(s):

Tracy Wut

Other key lawyers:

Howard Wu; Bee Boo; Stanley Jia

Testimonials

The most significant strength of this company is that it is truly customer-oriented. The team actively understands the company’s business in order to provide more targeted services. They stand out for their high response efficiency, flexibility and adaptability,  and deep understanding of Chinese state-owned enterprises.’

The firm has wide coverage and comprehensive business, which enables it to provide a total one-stop solution for multinational companies.’

‘Recommended for their all-round knowledge and expertise.’

‘The most remarkable advantage of this firm is that it is truly client-oriented. They understand company’s business to provide more targeted services, with high response efficiency and, flexibility. They know well about Chinese state-owned enterprises. It covers a wide range of jurisdictions and has comprehensive business, which is enough to provide total solution for international enterprises.’

Key clients

AVIC International Holding Corporation

China Evergrande New Energy Vehicle Group Limited

China Merchants Port Holdings

Gaw Capital Partners

HengTen Networks Group Limited

Hengxing Gold Holding Company Limited

Hysan Development Company Limited

Jin Jiang International

Kühne + Nagel International AG

Metlife

Nord Anglia Education

Tencent Holdings Limited

UBS AG

Unilever (China) Ltd.

Yuexiu Property Company Limited

Work highlights

  • Advised Switzerland-based global third-party logistics (3PL) services provider Kuehne+Nagel (K+N) on its largest acquisition to date which is a majority shareholding (approximately 87%) of Apex International Corporation for consideration comprising cash and roll-over into shares of Kühne + Nagel’s listed company, with the remaining shareholding retained by the management shareholders.
  • Advised long-standing client Tencent Holdings Limited on multiple investments for a number of gaming, fintech and technology companies.
  • Advised China Evergrande New Energy Vehicle Group Limited (previously known as Evergrande Health Industry Group Limited), on its acquisition of the remaining 17.6% stake in National Electric Vehicle Sweden AB (NEVS).

Davis Polk & Wardwell LLP

A firm headquartered in New York, Davis Polk & Wardwell LLP thrives in respect of both inbound and outbound transactions and is home to a full-service private equity practice, adept in everything from fund formation through to eventual dispositions; the team is relied upon by a varied list of industry players from emerging companies through to industry leading multinationals and the roster reaches beyond China and Hong Kong to include Japan and India-based companies, in addition to those based in other APAC jurisdictions. Howard Zhang is the key partner-level contact in Beijing and is highly regarded by private equity firms, venture capital funds, investment banks and multinational corporates; he is supported by counsel Annie Yan whose strengths lie in PIPEs, joint ventures, going-private transactions and strategic investments.

Practice head(s):

Miranda So; Yang Chu; Howard Zhang

Other key lawyers:

Annie Yan

Testimonials

‘The team has strong business ability, coordinates experts from various jurisdictions, and is well organized. It is also very solid in technical skills and has a good sense of business.’

‘Howard Zhang is recommended.’

Key clients

Tencent

EF Education First

GOJEK

DouYu

UCommune

Li & Fung

Tiger Brokers

InnoCare Pharma

ADC Therapeutics

Yintech

Work highlights

  • Advising PT Aplikasi Karya Anak Bangsa (“Gojek”) on its business combination with PT Tokopedia (“Tokopedia”) to form GoTo Group, the largest technology group in Indonesia.
  • Advising the special committee of the board of directors of China Biologic in connection with the company’s going-private acquisition by a consortium consisting of Centurium Capital, CITIC Capital, Hillhouse Capital, Temasek and certain senior management members of China Biologic.
  • Advising EF Education First on the investment by Permira Funds in EF Kids & Teens business headquartered in Switzerland with schools in China and Indonesia.

DLA Piper

DLA Piper’s team is China is closely integrated with the firm’s global corporate and M&A, made-up of over 1000 lawyers across 40 different nations. The local team is spread across Beijing and Shanghai, in addition to Hong Kong, and includes lawyers qualified to practice in England and Wales, Singapore, Australia, the PRC, Hong Kong and the US; its foremost industries of focus include aviation, education, life sciences, industrial and semiconductors and the workload covers cross-border, public takeover and corporate finance transactions, among others. Practice co-head Roy Chan also provides the group with intimate knowledge of the financial services and insurance sector while Qiang Li is acclaimed for both inbound and outbound investments pertaining to China. The pair operate from Shanghai alongside private equity, venture capital, debt financing and joint venture expert, Stewart Wang.

Practice head(s):

Luke Gannon

Other key lawyers:

Roy Chan; Qiang Li; Stewart Wang; James Chang

Key clients

Wise Road Capital

Air China Limited

General Electric Company

Scientia Technologies Limited

Work highlights

  • Advised Ping An Life Insurance on its participation in the RMB50.75bn consolidated restructuring of Peking University Founder Group Company Limited.    
  • Advised Wise Road Capital as international counsel on its acquisition of Huba Control AG from Siemens.
  • advised Air China Limited on its participation in the HK$39bn recapitalization plan for Hong Kong based airline Cathay Pacific Airways Limited.

Hogan Lovells International LLP

Led by Beijing-based Liang Xu, a specialist in supporting Western corporations with their business in China, a key point of distinction for Hogan Lovells International LLP is the emphasis it directs towards highly regulated sectors such as TMT, financial institutions, life sciences, healthcare and automotive. Through its association with Fujian Fidelity Law Firm, the practice offers an integrated international and PRC law service and is also home to a dedicated outbound China practice which supports local clients in respect of their global investments. Lu Zhou also operates from the Capital and thrives on private equity and joint venture mandates meanwhile over in Shanghai, Jun Wei garners acclaim for investment structuring in addition to operation and regulatory affairs.

Practice head(s):

Liang Xu

Other key lawyers:

Lu Zhou; Jun Wei; Don Williams; Mo Chen

Testimonials

‘Lu Zhou has shown a strong ability in the professional field. Chen Mo has a solid legal foundation, provides timely feedback on client problems, and her suggestions are to the point.’

‘The team features the experience and industry knowledge needed to successfully complete a case, with little knowledge of innovations introduced by the firm in recent years.’

‘Lu Zhou and Chen Mo both have rich foreign legal knowledge and understand the domestic industry, which facilitates our communication.’

Billing is very fair and flexible.’

Key clients

Fineland Real Estate Services Group Limited

Ping An Global Voyager Fund

Work highlights

  • Advised Fineland Real Estate Services Group Limited on the major and connected acquisition of 66.31% of the equity interests in Guangzhou Fineland E-Life Service Co., Ltd.
  • Advised Ping An Global Voyager Fund in the US$146m Series B-7 financing of iCapital Network, a global alternative investing company.
  • Advised the buyer consortium in the buyout transaction of Nasdaq-listed Gridsum Holding Inc., a leading provider of cloud-based big-data analytics and AI solutions for multinational and domestic enterprises and government agencies in China.

Linklaters

Linklaters, one of the Magic Circle firms, is the chosen counsel of a broad array of corporate and M&A players including Chinese state-owned entities, funds, investment banks and leading Asian conglomerates. The firm is well-positioned to provide a full-service offering in respect of applicable laws across the region; it is closely integrated with the Hong Kong office, led by Matthew Middleditch, and is affiliated with PRC law firm Linklaters Zhao Sheng. In Shanghai, John Xu brings over 20 years’ worth of cross-border M&A to the table, from both an inbound and outbound perspective, focusing primarily on the energy, chemicals, food and beverage, private equity and financial services. Based alongside him is Bryan Chan, a lawyer qualified in both Hong Kong and England and Wales who excels on day-to-day regulatory issues in China and is also a go-to for overseas investors on their market entry issues. Beyond partner-level, counsel Alex Roberts is an ‘excellent local experts and very strong M&A, IP and IT practicioner.’

Practice head(s):

Matthew Middleditch

Other key lawyers:

John Xu; Bryan Chan; Alex Roberts; Amy Ding

Testimonials

‘John Xu is a real trusted adviser of our group.’

Great corporate practice, a standout team for support foreign companies in China.’

Amy Ding – Her performance is beyond professional. It was very reassuring to turn things over to Amy. When we came up with something to ask, Amy had usually thought of it in advance and tried to explore it. Amy is very practical. She understands the essential demands of transactions and knows how to put forward feasible suggestions according to the level of risks to facilitate transactions. She does not blindly risk aversion‘.

Bryan Chan has a profound financial background. For an M&A lawyer, a strong financial background is a particularly useful skill‘.

Key clients

FWD Group Limited

CK Hutchison Holdings Limited

CK Infrastructure Holdings Limited

Charoen Pokphand Group

Kerry Group

Jardine Pacific Limited

The Dairy Farm Company

Russia-China Investment Fund (RCIF)

The Bank of East Asia Ltd.

Morgan Stanley

Asia Commercial Bank

PT Astra International Tbk

Fidelity Management & Research Company LLC

CLSA Capital Markets Limited

Greensill Capital (UK) Limited

Work highlights

  • Advised Schroders on its preparations to establish a Sino-foreign wealth management joint venture with BOCOM Wealth Management Co., Ltd.
  • Advised Intel Corporation on its US$9bn sale of NAND memory and storage business to SK hynix Inc.
  • Advised the Kerry Group on the approximately HK$17.6bn partial offer to be made by S.F. Holding for a 51.8% stake in Hong Kong SAR-listed Kerry Logistics.

Morrison & Foerster LLP

At Morrison & Foerster LLP, key points of differentiation for the practice includes its proficiency in SPAC and de-SPAC transactions, a particular forte of Ruomu Li, as well as its first-rate expertise in the TMT sector. Li, who started her career in the Silicon Valley, also enjoys a notable tenacity for public and private M&A, going-private transactions, divestitures and joint ventures; she operates from Shanghai and is supported in Beijing by Lucy Lu, a cross-border M&A, foreign direct investment, private equity and corporate restructuring specialist who is able to call upon her exhaustive expertise in PRC-related employment regulatory, employment and real estate issues. At associate-level, Alice Li and Tian Zhou are both up-and-coming names for regulatory and compliance, private equity and general corporate mandates.

Other key lawyers:

Alice Li; Tian Zhou

Testimonials

‘A fantastic team.’

‘Rumor Li is a great partner, very knowledgable and has great connections with other professionals in the industry.’

The MoFo team always gives us great advice to legal issues that are thoughtful, technical and commercial, especially over recent matters that require cross practice/office collaboration (credit/equity, US/China, SPAC, etc.). Seamless handoff from one time zone to another, from one specialist to another, without the need for clients to repeat their issues every time. Needless the say, they also produce contracts and transaction structures that fully address our needs in highly efficient, diligent, professional and meticulous manners. I would highly recommend the MoFo team to anyone who is looking for counsels for complex transactions.’

Ruomu Li led two of our most recent, most challenging transactions. Besides being technical and professional, I find her calm demeanor very constructive in high tension negotiation with difficult counterparties.’

‘They are familiar with overseas corporate governance, with professional knowledge of international financing, combined with the local practice and governance requirements of the target company. The team gives professional, comprehensive, and operational opinions and suggestions, especially to accurately understand and grasp the demands of investors in different contexts. They provide reasonable communication and explanation under the framework of corporate governance to help investors reach a consensus, so as to smoothly complete the equity financing plan.’

‘Ruomu Li has assisted our company in completing multiple rounds of financing of more than 1 billion U.S. dollars. Investors include various backgrounds in the United States, Hong Kong, and mainland China. Li’s extensive and in-depth professional knowledge in corporate governance and investment and financing, understanding of investment concepts and operation methods of investors from multiple backgrounds, and every keen grasp of investor concerns, enables her to give Opinions and suggestions that are conducive to the development of the company and the common interests of investors.’

‘Ruomu Li and her team can efficiently learn and grasp and integrate with overseas corporate governance frameworks. In addition, they are very diligent and efficient in their work, able to grasp the pace and efficiency requirements of the project progress, and can work with the company team during the critical period to go all out to submit work results that satisfy customers on schedule.’

‘The lawyers are familiar with overseas corporate governance and has expertise in international financing, able to provide professional, comprehensive and practical opinions and suggestions based on the company’s local practice and governance requirement. In particular, the team can accurately understand the demands of investors under different backgrounds, provide reasonable communication explanations under the framework of corporate governance, and help investors reach an agreement, so as to successfully complete the equity financing plan.’

‘Ruomu Li is able to study and master cases with high efficiency, she also has knowledge on overseas corporate governance framework. It is a self-motivated and learning team. They can grasp the pace of project progress and efficiency requirements, and work together with the company team in key periods to spare no effort and deliver satisfactory results to clients on time.’

Key clients

Ark Pacific Capital

Ally Bridge Group

Alibaba Group

Ascendent Capital Partners

Bain Capital Credit

BlackRock

Celadon Partners

Farallon Capital Asia

GLP

Intudo Ventures

NewQuest Capital Partners

Softbank

Softbank Vision Fund

Silver Crest

SIMIC Holdings

Princeton Digital Group

Vectr Ventures

Work highlights

  • Advising SoftBank Group Corp. and SoftBank Vision Fund in the $40bn sale of UK-headquartered multinational semiconductor and software design company Arm Limited to U.S. chip company NVIDIA.
  • Advising a leading institutional investor in connection with Grab’s proposed merger with a special purpose acquisition company.
  • Advised the subsidiaries of Ping An Insurance (Group) Company of China in its capital and strategic alliance with Shionogi & Co., Ltd.

Norton Rose Fulbright

Norton Rose Fulbright, one of the largest firms globally, counts fintech, TMT, energy, infrastructure, life sciences, healthcare, manufacturing and consumer markets as its most fruitful sectors of activity. The Shanghai practice is led by Sun Hong, ‘one of the best team leaders in any market’, who operates across M&A, foreign direct investment, joint venture and corporate transactions. Elsewhere in the Capital, Wang Yi fronts the Beijing office and is equally adept in advising state-owned companies in their global transactions as she is in guiding international outfits with their inbound activities.

Practice head(s):

Sun Hong

Other key lawyers:

Wang Yi; Lynn Yang

Testimonials

‘This team is made up of local PRC legal counsel who are as familiar with Common Law as they are with PRC law. As an English-speaking westerner, I find communication with the PRC Norton Rose team to be effortless.’

‘Sun Hong is one of the best team leaders (regardless of jurisdiction) I have ever worked with. Sun anticipates our needs, finds the appropriate team players to involve on files, just an excellent lawyer to deal with. ’

Key clients

Dorel Industries

Longship Fund II General Partner

SDIC Power

Sumitomo Corporation

Work highlights

  • Advised Dorel Industries Inc. on the disposal of its juvenile products manufacturing facility in China to Guangdong Roadmate Group.
  • Advising a US pharmaceutical company on setting up a Sino-foreign joint venture company in China to manufacture and sell certain medicine by utilising technologies and knowhow, the IP rights for which are owned by the US company.
  • Advising a Canadian smartech company on its market entry in China by setting up its first legal entity in China.

Orrick, Herrington & Sutcliffe LLP

Orrick, Herrington & Sutcliffe LLP is engaged in a mixture of inbound and outbound M&A transactions, operating an integrated practice with the firm’s US and European offices. In Shanghai, Jeffrey Sun is frequently engaged on prominent TMT deals while over in Beijing, Betty Louie largely focuses on outbound investments and acquisitions by Chinese corporations; she regularly works alongside Jinsong Zhang who is a transactional, regulatory and compliance specialist with foremost expertise in the energy and infrastructure, financial services, automotive technology, life sciences and fintech sectors.

Key clients

JD.com Inc.

Silk Road Fund

Pactera Technology

Haier Group Corporation

Toyota Motor

Trax Retail

LexinFintech Holdings Ltd.

Geo-Jade Corporation

Gosource Holding

Baidu

Work highlights

  • Advised Jomoo Group on the acquisition of the operating business and major assets of Poggenpohl Möbelwerke GmbH, a German premium and luxury kitchen manufacturer.
  • Advising Geo-Jade Petroleum Corporation, the largest private oil exploration and production company in China, in its joint venture and strategic cooperation relating to the exploration, construction, production and refinement of natural gas facilities and pipelines in Kazakhstan and Singapore.
  • Advised Gosource Holding its acquisition of Narni 1, an industrial site in Italy.

Simpson Thacher & Bartlett LLP

Active in Beijing since 2007, Simpson Thacher & Bartlett LLP is well-placed to support on both local and international mandates, fielding a team with lawyers fluent in Mandarin, all of whom are members of either the State of New York or the State of California. The practice is geared to represent prominent state-owned and private Chinese companies in their activities across the US, South America, Europe, the Middle East, Australia, Africa and the rest of Asia, working in close conjunction with the firm’s Hong Kong office. Yang Wang is the key partner in Beijing with a track record spanning M&A, private equity transactions and corporate finance deals. The wider team is adept in all manner of transactions including public and private M&A, dispositions, joint ventures, PIPE deals and minority investments.

Key clients

Alibaba Group Holding Limited

Aluminum Corporation of China

Ant Group

Apax Partners

Athenex Inc.

Bank of America Merill Lynch

The Blackstone Group (and portfolio companies)

BEST Logistics

Bona Film Group

Cainiao Smart Logistics Network

China Life Insurance Company

China National Chemical Corporation

Citigroup Global Markets

Fountainvest

Foxconn

GDS Holdings

GLP

JOYY Inc.

J.P. Morgan

Kolhberg Kravis Roberts & Co. (and portfolio companies)

Koubei Holding Limited

Kyoto Pacific Capital

Lexington Partners

Marelli (f/k/a Calsonic Kansei)

Meili Inc.

Morgan Stanley Private Equity

PAG

Primavera Capital Group

Qudian

Sequoia Capital China Fund

Silver Lake Partners

Warburg Pincus

XPENG Inc.

Yunfeng fund

Work highlights

  • Advised JOYY Inc. (NASDAQ: YY) in connection with the proposed sale of its video-based entertainment live streaming business in China (commonly known as YY Live) to Baidu, Inc.
  • Acted for Blackstone in its acquisition of a controlling stake in Mphasis Limited (NSE: MPHASIS) for up to $2.8bn.
  • Advised XPeng Inc. (NYSE: XPEV) in its US$1.3bn pre-IPO series C/C+ financing, with investors including private equity sponsors, investment management firms and sovereign wealth funds alike, such as Alibaba, Aspex, Coatue, Hillhouse, Sequoia China, Qatar Investment Authority, Mubadala and Xiaomi Corporation.

White & Case LLP

White & Case LLP, Beijing Office is a long-established player in the region, having opened its Hong Kong office in 1978. The group is active in a number of industries, including retail, financial services and manufacturing, and has noted a considerable uptick in its activities in the technology, biopharmaceutical and life science sectors over recent years. A prominent point of distinction for the outfit is its dedicated foreign direct investments group which endeavours to support Chinese clients through their cross-border investments, chiefly in respect of EU, CFIUS and FDI regulatory advisory hurdles. Alex Zhang fronts the China offering, bringing 30 years of representing private and state-owned domestic companies, as well as international corporates, to the table; he divides his time between Beijing and also Shanghai where Vivian Tsoi is the key contact for big-ticket outward investments into the US and European markets.

Practice head(s):

Christopher Kelly; Alex Zhang

Other key lawyers:

Vivian Tsoi; Shaohui Jiang

Testimonials

White & Case’s M&A team has been expanding and building up its capacity in recent years.’

Key clients

Nestlé S.A. / Nestlé Waters

CITIC Capital

Magna International Inc.

Schneider Electric Foundries LLC

China Molybdenum Co., Ltd.

Huhtamaki Oyj

EOG Resources, Inc.

Sony Corporation of America

Takeda Pharmaceutical Company Limited

Duke Street Capital Limited

GlobalWafers Co., Ltd

Special Committee of Cellular Biomedicine Group, Inc.

NetEase, Inc.

BVCF Management Ltd.

Goldman Sachs

CMC Capital

Novasep Holding SAS

SIBUR Holding

Work highlights

  • Advised Nestlé Waters, the no.1 bottled water company worldwide, on the sale of its water business in the mainland China to Tsingtao Brewery Group Company Limited, China’s second-largest beer maker, including the sale of its mainland China Pure Life brand.
  • Acted for Sony Corporation of America, a subsidiary of Sony Corporation, in its investment of approximately US$400m in Bilibili Inc., a China-based provider of online entertainment services, through subscription of new shares.
  • Assisted Magna International Inc., a leading automotive manufacturer and supplier, with its acquisition of a majority stake in HLZX Group, a leading automotive seat supplier in China.

Eversheds Sutherland

Eversheds Sutherland, a UK-founded firm active in over 32 jurisdictions, is geared to support on both inbound Asian transactions for global clients as well as outbound transactions on behalf of China and Hong Kong-based entities. In Shanghai, Jack Cai spearheads the China inbound M&A team, often acting on behalf of major international companies on cross-border transactions. Jay Ze, who operates from the Beijing office, provides the department with transactional prowess in the energy and natural resources sector and fronts the corporate practice.

Practice head(s):

Charles Butcher; Stephen Mok; Jack Cai; Jay Ze

 

Key clients

Baird Capital

Belt Road Investment Group

Cassia Investments

CGN Energy International Holdings Co., Limited

China-LAC Cooperation Fund

Cielo Talent

CITIC Limited

Eaton

FTI Consulting

G4S plc

Hanwha Asset Management

HNA Group

Iron Mountain

JAS Worldwide

Nissin Foods Company Limited

Owens & Minor

Rolls-Royce

Stolt-Nielsen

Tricor Group

Vecor Technologies Pty Ltd

Work highlights

  • Advised CGNEI on its acquisition of the 100% equity interest in the Brazilian wind power company Atlantic Energias Renováveis S.A. (Atlantic) from Actis Capital and the post-completion purchase price adjustment.
  • Advised CLAC Fund on its acquisition of a minority equity interest in the container terminal at Terminal De Containeres de Paranaguá, the second largest port in Brazil.
  • Advised CITIC Limited on its US$533m sale of a 22% stake in McDonald’s mainland China and Hong Kong business to CITIC Capital.

Gibson, Dunn & Crutcher LLP

Operating in close tangent with the firm’s international offices, Gibson, Dunn & Crutcher LLP runs a geographically broad caseload spread across the US, Europe, Hong Kong and China. The team is headed from Beijing by Fang Xue, an M&A and private equity specialist who has previously practiced in New York and Hong Kong; she is supported by Yi Zhang who is well-versed in foreign direct and outbound investments and is particularly knowledgeable of the energy and infrastructure, real estate and investment funds sectors.

Practice head(s):

Fang Xue

Other key lawyers:

Yi Zhang; Yue Qi

Testimonials

In terms of personnel arrangement, from negotiation to agreement writing, experienced partners are deeply involved in the project.’

‘The cooperation between lawyers and teams is also very tacit. Lawyers are very dedicated and always follow up and complete related tasks as quickly as possible, with a high degree of cooperation.’

‘With extensive project experience and international vision, the team is able to provide clients with efficient and professional legal services.’

‘Yue Qi is the most outstanding trading lawyer among the lawyers the law firm works with, and communication with him is very good. He also provide us many practical, rigorous and professional opinions on the design of case structure, solving difficulties in negotiation, avoiding legal risks and so on. He has a strong business sensitivity, is good at breaking deadlock, is very good at handling extremely complex cases, and helps clients find the best solution.’

Key clients

NetEase, Inc

General Electric

Tarena

Macquarie

SINA Corporation

Celanese Corp.

D. E. Shaw

JPMorgan

Anchor Equity Partners

Hillhouse Capital

AGIC Capital

CITIC Capital

CPE Advisors

Ruhnn Holding Limited

Phoenix New Media

Work highlights

  • Advised the Special Committee of SINA Corporation in its $2.6bn going-private transaction. SINA is a leading online media company serving China and the global Chinese communities.
  • Advising the Special Committee in Ruhnn Holding Limited’s going private transaction.
  • Represented CPE in its co-investment in the $4.76bn going private transaction of leading fully integrated plasma-based biopharmaceutical company, China Biologic Products Holdings, Inc. (CBPO).

Herbert Smith Freehills LLP

Acting for state-owned and private enterprises alike, Herbert Smith Freehills LLP supports Chinese clients on a broad variety of M&A transactions. The team counts on its joint legal operation with Shanghai-based Herbert Smith Freehills Kewei to simultaneously deliver international and PRC law expertise and is likewise extremely adept within Hong Kong’s regulatory landscape. In Shanghai, managing partner Nanda Lau hones her focus on foreign direct investment, joint ventures and corporate restructurings, demonstrating a particular tenacity for cross-border transactions; she is supported in Beijing by Tom Chau, the point of contact for several state-owned companies, as well as bond offering, IPO and securities compliance practitioner, Isaac Chen.

Practice head(s):

Matt Emsley; Jason Sung

Other key lawyers:

Nanda Lau; Tom Chau; Isaac Chen

Testimonials

‘A very efficient global team, with the capacity to provide a common rate structure that cuts across regions and countries.’

‘Nanda Lau is a seasoned M&A lawyer who provides top-quality legal services in multi-jurisdictional acquisitions and divestments.’

Key clients

Sun Art Retail Group

Yanzhou Coal Mining Company Limited

Alibaba

China Resources

Amcor

Newborn Town

Technology Crossover Fund

Sinopec

Fosun Pharma

Shunfeng International Clean Energy

British American Tobacco

Associated British Food

Weir Group

Work highlights

  • Advised Sinopec on the disposal of its pipeline assets to China’s new oil and gas pipeline company, PipeChina.
  • Advised China’s Yanzhou Coal Mining Company Limited on a series of asset acquisitions from its parent company, Yankuang Group.
  • Advised China Resources Capital Management Limited on its HK$1.5bn acquisition of City Super Group, which operates a premium food and lifestyle supermarket chain in Hong Kong, Shanghai and Taiwan.

Kirkland & Ellis International LLP

Founded in Chicago, Kirkland & Ellis International LLP fields one of the largest global corporate and M&A practices with over 900 practitioners worldwide and c.100 dedicated attorneys based at the firm’s Hong Kong, Shanghai and Beijing offices. The group thrives on the full array of transaction types, in both Hong Kong and the PRC, handling private equity, SPAC and cross-border deals on behalf of US, Asia and Hong Kong-listed companies. Chuan Li who splits his time between the two China offices, is adept in the full array of corporate transactions from acquisitions, divestitures and joint ventures through to PIPEs, going private deals and growth equity investments.

Key clients

An investor consortium comprised of Warburg Pincus Asia LLC, General Atlantic Singapore Fund Pte. Ltd., Ocean Link Partners Limited, and Mr. Jinbo Yao, Chairman of the Board and Chief Executive Officer of 58.com.

An investor consortium comprised of Centurium Capital, CITIC Capital, Mr. Marc Chan, Hillhouse Capital, Temasek Holdings, and Mr. Joseph Chow, CEO and chairman of the board of directors of CBPO and their respective affiliates.

Morgan Stanley Asia Limited

Hammer Capital

GLP Pte. Ltd. and the consortium offeror comprising GLP and the Fung family

An investor consortium comprised of Ocean Link Partners and Sequoia Capital China

The special committee of the board of directors of Yintech Investment Holdings Limited

Citigroup Global Markets (financial advisor) in proposed merger of Huya and Douyu

Clear Channel Outdoor Holdings, Inc.

Amer Sports and its investor consortium ANTA Sports (HKG: 2020.HK), FountainVest Partners, Anamered Investments Inc. and Tencent Holdings Limited

China International Capital Corporation Hong Kong Securities Limited (CICC)

China International Capital Corporation Hong Kong Securities Limited (CICC)

Loyal Valley Capital

CICC

Skyworth Group Limited

Lion Financial Group Limited

Li & Fung

Huatai Financial Holdings (Hong Kong) Limited

Two controlling shareholders of Sihuan Pharmaceutical Holdings Group

GLP and UBAN Capital

Clene Nanomedicine, Inc.

Silk EV

Work highlights

  • Acted as international co-counsel for an investor consortium in the take-private of 58.com Inc. (NYSE: WUBA), China’s largest online classifieds marketplace, at a valuation of approximately US$8.7bn.
  • Acted as the lead counsel to a consortium of investors in the proposed US$4.76bn take-private of China Biologic Products Holdings, Inc. (NASDAQ: CBPO), a plasma-based biopharmaceutical company.
  • Advising Morgan Stanley Asia Limited as financial advisor to the special committee of the board of directors of Sina Corporation (NASDAQ: SINA), a leading online media company in China, in the potential take-private of Sina.

Morgan, Lewis & Bockius LLP

Morgan Lewis & Bockius LLP has significantly expanded its presence in the Far East over recent years and now boasts a presence across Hong Kong, Beijing, Shanghai, Tokyo and Singapore. Its corporate and M&A practice is split into four key offerings, namely international M&A, handled alongside the firms European and US offices, private equity transactions, supporting overseas clients on their inbound investments and guiding clients through their Hong Kong IPOs. In Shanghai, Mitch Dudek runs a varied workload which sees him engaged on restructuring, foreign direct investment and joint venture transactions in addition to asset and corporate structure divestitures. The other key partner in China is Beijing-based Ning Zhang who also spends time in Hong Kong and has transacted countless investment, acquisition and divestment deals.

Practice head(s):

Maurice Hoo; Edwin Luk; Mitch Dudek

Other key lawyers:

Ning Zhang

Testimonials

‘Our team has worked with the team at Morgan Lewis for more than 20 years, and they are our go-to lawyers for our M&A activities. The team combines the best of being very commercial but very meticulous on legal grounds. They are more than responsive – they anticipate and are a few steps ahead of the game all the time. They frequently will prep us for what the other parties might ask for and how we might analyze these asks and formulate our responses – even before the other parties actually ask. They know the market very well and repeatedly advise us how to come to views and positions that are reasonable. They are a truly exceptional team.’

Key clients

Chengdu Ruizhuo Real Estate Co. Ltd.

Sequoia Capital

Warburg Pincus

GIC

China Distance Education

Boehringer Ingelheim

Meten International Education Group

Kofu Hong Kong Holdings Ltd.

Work highlights

  • Advised Chengdu Ruizhuo Real Estate Co. Ltd. in the acquisition by its joint venture with Yuzhou Group Holdings Co. Ltd., RZ3262019 Ltd., of a property development project in Chengdu, China, from CK Asset Holdings Ltd. at a consideration of approximately HK$7.85bn.
  • Acted for Warburg Pincus in Yuanfudao’s US$2.2bn Series G1 and G2 round investment.
  • Advised Sequoia Capital on its investment of US$450m (HK$3.45bn) in China Evergrande’s spin-off of its property management services arm, Evergrande Property Services Group Ltd.

O'Melveny

Excellent across the board’, members of O’Melveny’s Shanghai and Beijing offices frequently operate in close tangent with the Hong Kong office and are particularly well-regarded for public and private M&A, joint ventures, leveraged acquisitions and private equity buyouts. The team handles transactions from all perspectives, acting for buyers, sellers, investors, shareholders and financial advisors, and counts its track record in supporting Chinese companies on their global expansion as a defining trait. Walker Wallace is ‘the first point of contact’ for foreign direct investments, private equity mandates and matters within the entertainment sector. Ke Geng co-heads the practice with Wallace and is acclaimed for his handling of cross-border deals, particularly those within the life sciences and biotechnology fields.

Practice head(s):

Walker Wallace; Ke GengNima Amini

Other key lawyers:

Alan Bao

Testimonials

‘We have worked with OMM’s China team through their Hong Kong Office and consistent with our experience of OMM in Hong Kong, found them to be excellent as well. I think a focus on recruiting quality practitioners by OMM shines through. ’

‘The key contact we have had has been Alan Bao out of Beijing who has an excellent knowledge of the PRC corporate legal landscape and bureaucracy. He is also very responsive to queries.’

‘I have enjoyed working with a variety of partners and associates at O’Melveny and Myers during the past decade. The service the attorneys there have provided has been exceptional across the board, and I have thoroughly enjoyed working with and learning from each of them. They are my go-to” firm for M&A and international legal matters. In many cases, I do not think we would have been successful in finalizing certain transactions, especially those in the APAC region, without the support of the O’Melveny team. Their ability to provide not only excellent legal advice but also to provide practical business advice is invaluable. In addition, my colleagues and I have learned a great deal from their attorneys about business culture and negotiation styles in different regions.’

‘Walker Wallace, head of O’Melveny’s China practice, is one of the smartest individuals I have ever encountered. His experience with China business practice, knowledge of the law in a variety of areas, and ability to provide practical advice makes him a stand out among other attorneys. He is the first call I would make if I wanted to do anything business-related in China. It has been a pleasure to learn from him as my company attempts to expand its business in that region.’

Key clients

PAG Real Estate

SEEK Limited

Pharmaron Beijing Co., Limited

Viva Biotech

Yunfeng Capital

BOCOM

Faraday Future

SMART Global Holdings

SORL Auto Parts

Buyer Group in Going Private of China XD Plastics

TTM Technologies

Work highlights

  • Acted for PAG Real Estate in disposing of its 40% indirect interest in Wuhan Shenrui Property Co., Ltd.
  • Acting for SEEK Limited on its Strategic Investment from Primavera in Zhaopin and Sale of Zhaopin to Primavera-led Consortium.
  • Recently advised Pharmaron on acquiring 100 percent of the equity of Absorption Systems for up to US$137.5m in cash.

Paul Hastings LLP

Headquarter in LA, Paul Hastings LLP has a presence at 22 locations across the globe and is particularly well-regarded within the TMT, Fintech, life sciences, media and entertainment sectors. David Wang, a Shanghai-based lawyer, is a specialist in M&A, capital markets, joint venture and private equity deals and is often engaged by technology entities on their overseas expansion, leveraging his admission to practice in California as a competitive advantage. Jia Yan is the main partner in Beijing and runs a practice that extends beyond M&A to include financing, IPOs, real estate transactions and disputes. At the more junior end of the partnership spectrum, Sophie Han is not only well-versed in all manner of transactions but also a specialist in FCPA and China compliance regulations.

Other key lawyers:

Sophie Han

Key clients

China COSCO

CDH Investments

Fosun International

Ping An

Binance

China Life

CIMC

ICBC International

City Football Group Limited

Work highlights

  • Acted for Dalian Port (PDA) Company Limited in its proposed merger by absorption with Yingkou Port Liability Co., Ltd., the second largest port in northeastern China and listed on the Shanghai Stock Exchange, through issuing A shares with a consideration at RMB16.7bn.
  • Acted fot the founders of Apex International Corporation in the acquisition of Apex by Kuehne+Nagel International AG, the leading global transport and logistics company with shares listed on the SIX Swiss Exchange.
  • Advised ARA Asset Management, a premier global integrated real assets fund manager, on its formation of a partnership with Straits Real Estate and ICBC International for the acquisition of Sanlin InCity, a retail mall located in the Sanlin District of Pudong in Shanghai via one of its private real estate funds.

Shearman & Sterling LLP

Leveraging a presence in Hong Kong, Shanghai and Beijing, in addition to a far-reaching global network, Shearman & Sterling LLP caters a roster of PRC state-owned enterprises, financial institutions and prominent corporates. Li Chen and Sean Wang both divide their time between the Hong Kong and Beijing offices; the former supports local clients on their investments throughout the globe and counts the energy, healthcare, financial institutions, investment fund and infrastructure sectors are her most active frontiers. As for Wang, he is a member of the project development and finance practice and predominantly focuses on state-owned enterprise and financial institution representation.

Practice head(s):

Li Chen

Other key lawyers:

Lorna Chen

Key clients

China National Petroleum Company International/PetroChina

China Telecom

Investcorp

Leyou Technologies Holdings Limited

Russia-China Investment Fund

SAP

Work highlights

  • Advised Leyou Technologies Holdings on its take private by Image Frame Investment (HK) by way of a scheme of arrangement under Section 86 of the Companies Law of the Cayman Islands.
  • Advised CNODC on its acquisition from ExxonMobil of a participating interest in the West Qurna (Phase 1) Oil Field in Iraq.
  • Advised Investcorp on its acquisition of a minority stake in WeDoctor from Goldman Sachs.

Weil, Gotshal & Manges LLP

Headquartered in New York, Weil, Gotshal & Manges LLP combines public company expertise in both the US and Hong Kong with a tenacity for big-ticket cross-border transactions. The practice targets big-ticket transactions including M&A, takeovers, disposals, distressed M&A, spin-offs and joint ventures. Charles Ching fronts the local practice and is notably referred work by some of the world’s largest investment banks; his team includes senior associate Yujing Liu who is particularly active on the cross-border front and has law degrees in both the US and PRC.

Practice head(s):

Charles Ching; Tim Gardner

Other key lawyers:

Yujing Liu

Testimonials

‘The team is good at complex cross-border M&A transactions and capital market-related transactions.’

‘Charles Ching is a good lawyer who is familiar with both the Chinese market and international M&A transactions.’

Key clients

Montagu Private Equity

Morgan Stanley

Hillhouse Capital

MBK Partners

Synopsys

Micron Technology, Inc.

NWS Holdings

Canadian Solar

BioDuro

Tianjin Zhonghuan Semiconductor Co. Ltd.

Work highlights

  • Advised Tianjin Zhonghuan Semiconductor Co. Ltd. as sponsor investor on the approximately USD 1B sponsored spin-off of Maxeon from SunPower Corporation.
  • Advising Morgan Stanley, financial advisor to the Special Committee of DouYu, in connection with the USD 10B take-private merger of DouYu and HUYA Inc.
  • Advised MBK Partners on the USD 2.2bn (including debt) voluntary general offer for all of CAR Inc., the largest car rental company in China.

Ashurst

At Silver Circle firm Ashurst, lawyers of the Chinese offices frequently work alongside their colleagues, spread across its 29 global offices, on the full array of cross-border M&A deals, both inbound and outbound, in addition to joint ventures, governance and regulatory matters. In Shanghai, Michael Sheng handles both inbound and outbound investments while elsewhere in Beijing, the office was recently bolstered by the relocation from Sydney of Dan Yang, a lawyer whose experience renders him a natural choice for outbound Chinese investment to Australia. The team enjoys a close relationship with Guantao Law Firm, an alliance that renders it well-placed to advise on both international and PRC law considerations.

Practice head(s):

Joshua Cole

Other key lawyers:

Michael Sheng; Dan Yang

Testimonials

‘The team is very knowledgeable with good commercial sense. They understand the business intricacies between the transacting parties and do a great job in advising risks and proposing mitigating actions.’

Key clients

Tyme Group

Mobvista Inc.

SYNthesis med chem Pty Limited

The founder and shareholder of Kokido Development Limited

Beijing Energy International Holding Company Limited

Facebook

Mirae Asset Securities (HK) Limited

Star Combo Phara Limited

Lotus Investment Holdings Pty Ltd

Work highlights

  • Advised Tyme Group, a global digital banking group, on establishing a joint venture with JG Group, one of the largest conglomerates in the Philippines, to create one of the first digital banks and potentially the first foreign invested joint venture in the digital banking business in the country.
  • Advised SYNthesis med chem Pty Limited on the sale of 100% equity interest in its wholly-owned subsidiary, SYNthesis med chem (Hong Kong) Limited to Hong Kong-listed VIVA Biotech Holdings.
  • Acted for Mobvista Inc. as the purchaser in the acquisition of the entire equity interest in Beijing Reyun Technology Co., Ltd. for an aggregate consideration of RMB1,500,000,005.

Bird & Bird

Bird & Bird is extremely active on the cross-border front with approximately 80% of its recent matters for Chinese clients involving other countries. Beijing-based John Shi is considerably well-connected within the aviation, technology and energy fields; he leads the department alongside Sven-Michael Werner who is a prominent name for international clients, particularly those from the retail and consumer, automotive and technology sectors, who are looking to expand in China. The group is particularly proficient in reorganisation matters with a proven capacity for post-acquisition integration strategies.

Practice head(s):

John Shi; Sven-Michael Werner

Other key lawyers:

Shan LaiSarah Zeng

Testimonials

‘Bird & Bird has a very experienced M&A, corporate and commercial contracting team that is very well led by John Shi.’

‘John Shi is highly qualified and experienced, an excellent negotiator and has many contacts, and he very well understands Western practice. He speaks fluently English and has a very quick response time. Solution & deal maker. Very pleasant to work with.’

Key clients

HJ Capital (International) Holdings Company Limited

Southwest Securities (HK) Capital Limited

ICBC International Capital Limited

Wise Ally International Holdings Limited

Jining High Tech Urban Construction Investment Co., Ltd

Royal Cosun

Skyrizon Aircraft Holdings Limited

POET Technologies

Natural Beauty Bio-Technology Limited

Meichem International

Work highlights

  • Advised Royal Cosun in relation to Aviko’s acquisition of a majority stake in local French-fries supplier Inner Mongolia Hongyuan Agriculture Technology Company Limited by Shares.
  • Acted for Skyrizon Aircraft Holdings Limited and other independent Chinese investors in their respective acquisitions of shares in Motor Sich, a listed company in Ukraine mainly engaged in the manufacturing of aircraft engines.
  • Advised POET Technologies Inc on its joint venture with Sanan Integrated Circuit Co. Ltd for the establishment of a semiconductor manufacturing facility and provided advice on its Shenzhen subsidiary.

Cleary Gottlieb Steen & Hamilton

Cleary Gottlieb Steen & Hamilton is home to US and UK qualified lawyers, as well as a Hong Kong law platform, and is the chosen choice of sovereign wealth funds, multinational and Chinese corporations, Hong Kong-listed companies and private equity firms. Beijing-based Denise Shiu heads the practice and is a specialist in cross-border M&A.

Practice head(s):

Denise Shiu

Testimonials

‘Denise Shiu and her team are excellent.’

‘Good team and lots of energy. Speedy turnaround with good quality product.’

‘Very thoughtful and accommodating and resourceful. They help the clients in making the right decision. Very patient too.’

Key clients

CDH Investments

China International Capital Corporation

Hillhouse Capital

HOPU Fund Management Company

L Catterton

Lenovo

PAG Asia

Silk Road Fund

Temasek Holdings

TPG

Work highlights

  • Advising Goldman Sachs, as financial advisor to Tencent Holdings Limited, on Tencent’s proposed stock-for-stock merger of HUYA and DouYu International Holdings.
  • Advising Goldman Sachs, as financial advisor to Tencent Holdings Limited, on Tencent’s proposed going-private acquisition of Sogou.
  • Advised Temasek Holdings in the establishment of a wealth management joint venture with BlackRock and China Construction Bank.

CMS

CMS has built up a strong reputation for M&A, joint venture, corporate governance, compliance, spin-off and IPO matters, among others. Dr Ulrike Glueck, the managing partner of the Shanghai office, leads the department and is a go-to for foreign direct investment and restructuring transactions, particularly within the automotive, mining and minerals, machinery and equipment, manufacturing and energy sectors; she is one of many German-qualified practitioners and the team is also home to a number of French speakers, making it a natural choice for clients based in Europe.

Practice head(s):

Dr Ulrike Glueck

Other key lawyers:

Dr. Falk Lichtenstein

Testimonials

‘The team has excellent comprehensive performance in terms of service speed, quality and cost performance.’

‘Several German lawyers and a team with a long history and deep legal experience in Chinese law, especially working in Shanghai area. Very good in translating and explaining the specific Chinese requirements, rules or rulings to German customers.’

Excellent expertise and professional legal consulting.’

Hands-on, very good value for money, trilingual (German, Mandarin, English), highly experienced in the automotive and manufacturing sector.’

Dr. Ulrike Glueck is absolutely reliable, responsive and highly experienced.’

‘The team has excellent performance in speed, quality and cost performance.’

‘Dr. Ulrike Glueck leads his team to provide us with high quality services based on his deep understanding on our industry and operations.’

Key clients

Freudenberg Group

Work highlights

  • An international team from CMS Germany and CMS China advised Freudenberg Group on its acquisition of TRAXIT International GmbH to further expand its specialist lubricant business.

K&L Gates

K&L Gates enjoys a strong regional presence, benefitting from offices not only in Shanghai and Beijing but also Hong Kong, Sydney, Seoul and Tokyo, among other locations. Simon Poh handles inbound and outbound investments, with notable expertise in the fintech space; he operates from Shanghai alongside Max Gu whose expertise encompasses private equity investments, general corporate matters and corporate compliance along with regulatory matters in the food sector. Frank Voon spends time in Beijing, in addition to Hong Kong, providing both offices with the divestiture, joint venture and restructuring expertise.

Practice head(s):

David Tang

Other key lawyers:

Simon Poh; Max Gu; Frank Voon

Testimonials

‘Knowledge in the industry, excellent service quality with solid advice, full-service covering client’s needs, extensive global reach and reasonable fee arrangements.’

‘Tailored advice, knowledgeable team, always on top of matters. ’

‘Simon Poh, exceptionally available and engaged in clients. Always knowledgeable and gives tailored advice.’

Key clients

17LIVE, Inc.

Brookfield

Chalco Trading Hong Kong Co., Limited

DiDi Chuxing

Hines

Lalamove

Lingfeng Capital

Luye Pharma Group

KaiOS Technology

Koppers Inc.

Ortho Clinical Diagnostics

Prenetics Limited

TCL Holdings

Vela Diagnostics

Work highlights

  • Assisted Hines, a global real estate firm, with its acquisition of a Hong Kong joint venture company formed by Chinese and U.S. fund managers to develop, through a Chinese subsidiary, Walmart’s South China Fresh and Cold Food Supply Chain and Distribution Centre in the Guangdong Province of China.
  • Acted as international counsel for Cree Inc. in relation to the sale of its worldwide LED business to SMART Global Holdings Inc., in a deal valued at around US$300m.
  • Assisted client in its privatisation of Tonly Electronics (HKSE:1249) through a scheme of arrangement in which TCL Industries agreed to acquire Tonly Electronics for US$165m.

Latham & Watkins LLP

LA-founded firm Latham & Watkins LLP is instructed on M&A transactions throughout the entirety of South East Asia. The department is led by Hong Kong-based Simon Cooke and is proficient in public and private M&A, joint ventures, equity investments, disposals and privatisations. The group counts its understanding of the corporate governing components of transactions as a keystone and is complemented by close integration with the firm’s wider capital markets, bank finance, antitrust, competition, private equity, export controls and economic sanction departments.

Practice head(s):

Simon Cooke

Key clients

Tencent Holdings Limited

Kuaishou

Warburg Pincus Asia LLC

Bilibili Inc.

HKBN Ltd.

Sinotrans Limited

Haier Electronics Group Co., Ltd.

CITIC Capital

The Carlyle Group

Vingroup Joint Stock Company Limited

China Jinmao Holdings Group Limited

Work highlights

  • Advising Tencent Holdings Limited (Tencent) on its proposal for Huya, Tencent’s controlled subsidiary, to enter into a stock-for-stock merger with DouYu International, of which Tencent is the largest shareholder.
  • Advised buyer consortium led by Tencent and Hammer Capital on Bitauto’s US$1.1bn privatisation and advising Tencent as a joint offeror on the consequential mandatory general offer for the shares of Bitauto’s Hong Kong-listed subsidiary, Yixin Group Limited, under the Hong Kong Takecovers Code.
  • Advised CITIC Capital, as a member of the buyer consortium, on the US$4.76bn privatization of US-listed China Biologic Products Holdings Inc., a developer of plasma-based therapies.

Reed Smith Richards Butler

Reed Smith Richards Butler routinely supports private and state-owned PRC entities in respect of their offshore transactions and outbound transactions in addition to working with overseas clients on their inbound investments. The team works in close collaboration with the firm’s Hong Kong office which is extremely knowledgeable of local laws and regulations, namely the takeovers code, stock exchange listing rules and securities law, and is led by Jay Yan from Shanghai and Michael Fosh in Beijing. Eric Lin is the other standout name and has a track record in multibillion-dollar joint venture projects, especially those in the energy and natural resources sectors. The group is particularly active on the multi-jurisdictional transactional front with the recent workload reaching beyond the wider Asia Pacific region to include jurisdictions such as the US, Italy, France and Turkey.

Practice head(s):

Denise Jong; Jay Yan; Michael Fosh

Other key lawyers:

Eric Lin; Amy Yin

Cuatrecasas

Spanish firm Cuatrecasas operates from two offices, Shanghai which opened in 2007, and Beijing which commenced operation in 2017. The firm is naturally a go-to for inbound investment from Spain, Portugal and Latin America and likewise supports local entities, both state-owned and private, with their outbound activities in Spanish and Portuguese-speaking countries. Pablo Cubel is active in various industries though has been particularly busy in the sports, waste management, renewable energy and cleantech fields of late; he jointly leads the department with Yao Wang, a specialist in representing automotive, machinery and equipment, construction, pharmaceutical, cosmetics, consumer and retail clients.

Practice head(s):

Pablo CubelYao Wang

Key clients

LABORATORIOS ISDIN

GOIZPER SOCIEDAD COOPERATIVA

NATURA BISSE INTERNATIONAL

APPLUS ITEUVE TECHNOLOGY

FAGOR METAL FORMING MACHINE TOOL (KUNSHAN) CO., LTD.

BALPA SISTEMAS DE GESTION EMPRESARIAL, S.L.

FERMAX

CHINA THREE GORGES

MOTA-ENGIL

LONGI

Work highlights

  • Advised Aldesa’s sale to China Railway via a purchase of shares, a capital increase and through assuming Aldesa’s debt.
  • Advised Isdin on the establishment and daily operation in China; including on regulatory, e-commerce, tax and compliance matters.
  • Advised Goizper on its equity transfer to Shanghai Bingrong Enterprise Management Consultancy Partnership Enterprise, including an equity transfer agreement, a shareholders’ agreement, and articles of association; the termination of a distribution arrangement; and (iii) a trademark licensing arrangement.

Deacons

2021 marked the 170th anniversary since the founding of Deacons, a Hong Kong-headquartered firm which has since expanded to Shanghai, Guangzhou and Beijing; the team excels on all transaction types including M&A, private equity and venture capital investments and exits, public takeovers, privatisations and joint ventures, both local and cross-border. The practice specialises in investment project approvals and outbound investment in or through Hong Kong and is jointly headed from Hong Kong by Ronny Chow and Machiuanna Chu.

Practice head(s):

Ronny Chow; Machiuanna Chu

Other key lawyers:

Eugina Chan

Dechert LLP

Dechert runs a caseload with a strong multi-jurisdictional element, often acting on M&A and corporate transactions which involve assets in Europe, Africa, North America, South America and the wider Asia Pacific region. An equal degree of emphasis is also directed to the local market with the department regularly supporting Hong Kong-listed companies on mandates such as public takeovers, mergers, acquisitions, bond subscriptions and the full array of commercial affairs. Yang Wang, recently appointed as managing partner of the Beijing office, provides distinguished know-how in the initial public offering of Chinese companies on the Hong Kong Stock Exchange.

Practice head(s):

David Cho; Stephen Chan; Yang Wang

Testimonials

‘Dechert’s team led by Yang Wang is very commercial and practical. They help get deals closed – which is very important. Some lawyers fight beyond the clients’ needs and destroy the trust between business people. Dechert is professional, practical and communicates efficiently, which are the key for deals to happen.’

‘Yang Wang is the person we work with. He is very professional, smart, has a very strong commercial sense and he is very quick in understanding commercial issues and fast in taking actions.’

Key clients

China Financial Services Holdings Limited

Chiho Environmental Group Limited

JT China Wealth Management Limited

New Century Asset Management Limited

Sinopec

Talent Property Group Limited

Yuexiu Property Company Limited

Zhejiang New Century Hotel Management Co., Ltd.

Work highlights

  • Advised SK holdings Co., Ltd. in its US$300m investment in Chindata Group Holdings Limited, a data center operator in China.
  • Advised Sinopec on its joint venture development with SIBUR of the Amur Petrochemical Project, projected to be the world’s largest basic polymer production facility.
  • Advised New Century Asset Management Limited on the privatisation of the first China-based hotel REIT in the world.

Gide Loyrette Nouel A.A.R.P.I.

Gide Loyrette Nouel A.A.R.P.I. is headquartered in Paris and is the firm of choice for inward-facing French and European multinationals though is also rapidly developing its outbound China practice. The team is adept in cross-border transactions, business operation matters, M&A and joint ventures in addition to corporate reorganisation, structuring, governance and financing matters and counts several strictly regulated industries among its core strengths, namely health and pharmaceuticals, aeronautics and defence, steels and automotive. In Beijing, Guo Min jointly leads the offering alongside Shanghai-based duo David Boitout and Fan Jiannian.

Practice head(s):

Guo Min; David Boitout ; Fan Jiannian

Testimonials

‘Quick responses, strong business sense and professional.’

Very dedicated team, with simplicity and skills to deeply consider large matters.’ ‘Fan Jiannian provides good communication and is also professional and friendly.’

Min Guo and her team are totally dedicated to the customer’s problems, at any time of the day or night.’

Key clients

Air Liquide

MF Brands

BioMérieux

Icicle

Ipsen

Legrand

PSA Group

Renault

Total

Vallourec

Work highlights

  • Advised GANT (MF Brands) on the acquisition of the distribution network from its distributor and long-standing partner, Longgoal, in order to secure further control of its brand growth in China.
  • Advised Lesaffre on the acquisition of 70% of the entire issued share capital of Inner Mongolia Biohymn Biotechnology Co., Ltd., including its business from Inner Mongolia Biohymn New Agriculture Technology Co., Ltd., a Chinese company specialised in the production of yeast and yeast extracts.
  • Advised PSA Group, the French multinational automaker of Peugeot and Citroën-brand vehicles, on the sale of its 50% equity interest in Chang’an PSA Automobiles Co., Ltd. (“CAPSA”) to Bao Neng Group.

Jones Day

Jones Day is routinely engaged for high-value outbound transactions from China and is particularly acclaimed within the life sciences sector. Angel Huang serves as the firm’s M&A chair for Asia.

Practice head(s):

Angel Huang

Mayer Brown

Mayer Brown is well-equipped to support on cross-border transactions. The practice is led by Hannah Ha in Hong Kong and is adept in a broad variety of transactions including asset sales and purchases, spin-offs, stock transactions, venture capital and private equity transactions, joint ventures and direct inbound investments. The department advises on a balanced mix of strategy and planning through to exit and directs its focus to a number of heavily regulated sectors which include real estate, transportation, banking, culture, media, pharmaceuticals and insurance.

Practice head(s):

Hannah Ha

Testimonials

‘Professional, thoughtful and the lawyers have excellent communication skills.’

‘Hannah Ha is professional, experienced and enthusiastic, with good communication skills.’

Key clients

Cathay Pacific

Kerry Properties

China Overseas Land & Investment Ltd.

China Merchants Group

Dah Chong Hang

Syngenta

Sun Hung Kai

Merlin Entertainments Group

CapitaLand / Ascott

Shui On Land Limited

Tsingtao Brewery Company Limited

Principal International (Asia) Limited

Lai Sun Group

Towngas

Work highlights

  • Advised Link REIT on its acquisition of the office building at 25 Cabot Square (“The Cabot”) in Canary Wharf, London from HGR Liquidating Trust (formerly Hines Global REIT) for £380m (subject to adjustment).
  • Advised a client on its acquisition of a Hong Kong holding company of prominent office towers located in the central business district of a major Asian city from an Asian multinational conglomerate.

Proskauer Rose LLP

Proskauer Rose LLP, an international firm headquartered in New York, is co-led locally by Yuval Tal who splits his time between Hong Kong and Beijing and notably serves as global co-chair of the firm’s hospitality, gaming and leisure group; the aforementioned sectors are core pillars of the group’s M&A offering and so too are private equity transactions. Standout matters of late have included a strategic investment and cross-border share swab, transformative takeovers and a plethora of transactions spread across Asia, Australia, Europe and North and South America.

Practice head(s):

Yuval Tal; Jeremy Leifer; Jay Tai

Key clients

Grifols S.A.

Accor – sbe Hotel

Accor – Faena Group

Accor – Ennismore

Accor – Huazhu

Galaxy Entertainment Group (“GEG”)

Bow Wave Capital Management

Mount Sinai International

Work highlights

  • Advising long-time Barcelona-based client Grifols S.A. in its entry into a strategic alliance with China’s leading blood plasma company, Shanghai RAAS Blood Products Co Ltd.
  • Acted for longtime client Accor in the launch of a global strategic partnership with Faena Group; advised Accor in taking full ownership of the sbe hotel brands; and continue to advise Accor on its negotiations with Ennismore to form the world’s leading lifestyle operator in the hospitality sector.
  • Acting for Galaxy Entertainment in relation to its agreements with Hyatt in connection with the new Andaz Macau, one of the most anticipated hotel projects.

Ropes & Gray LLP

At Ropes & Gray LLP, the corporate and M&A team is fronted by Hong Kong-based James Lidbury who has transacted deals on behalf of Chinese entities and overseas investors valued in excess of $20bn. The group counts the technology sector as its foremost field of expertise and its recent workload often reaches beyond Hong Kong, China and the wider Asia Pacific region and includes several matters pertaining to the US and Europe.

Practice head(s):

James Lidbury

Key clients

Alibaba

Cainiao Smart Logistics Network

Didi Chuxing Technology

National Modern Energy Holdings

NetEase

Profex

Work highlights

  • Advised Alibaba on its US$1.15bn investment (in conjunction with Richemont, the Switzerland-based luxury goods group) in Farfetch, a NYSE-listed leading global online luxury fashion retailer.
  • Advised Alibaba on its equity investment of an up to 9.99 per cent stake in, and its related strategic joint venture in China with, Dufry, a Switzerland-based global travel retailer with operations in over 60 countries.
  • Advised National Modern Energy on the US$379.5m sale of its remaining 17.6 per cent stake in National Electric Vehicle Sweden AB (NEVS), a Swedish electric car manufacturer.

Taylor Wessing LLP Beijing Representative Office

Taylor Wessing LLP Beijing Representative Office supports clients on acquisitions, expansion projects and long-term investment projects. The team has recently noted an uptick in its corporate restructuring and relocation work, owing to local regulatory changes, and is active on a number of sectors such as high-tech, robotics, automotive, life sciences, healthcare, logistics and transportation. Michael-Florian Ranft provides the group with greenfield investment and business transaction expertise while Qun Huang is a standout name for outbound investment into Germany, post-merger issues and restructuring projects.

Testimonials

‘Taylor Wessing is a fully reliable company with high skilled team members which are able to meet the expectation of global companies.’

What we highly appreciate is the mix of the team with local experts and experts which are coming from Europe and are serving in countries as China or Hong Kong as repatriats.’

Taylor Wessing is fully digitised and able to serve our demands in a virtual manner.’

‘The individuals we have worked with are highly skilled and very international. They have been able to translate risks in China to us in a manner that we were able to act in the right manner.’

Long industrial experience and broad network in China.’

Key clients

Shenzhen Goodix Technology

Farasis Energy (Zhenjiang) Co., Ltd

Hai Di Lao

FESTO

Duisburger Hafen AG

LiangDao

China Telecom

Haier

Stemcell Technologies Canada Inc.

Wuxi OFC Carpet Co., Ltd.

Wilo

TTS Tooltechnic Systems Holding

Work highlights

  • Successfully advised Shenzhen Goodix Technology Ltd, Co. on its acquisition of Dream Chip Technologies GmbH (DCT) and Dream Chip Technologies B.V.
  • Advised Duisburger Hafen AG on its acquisition of a participation in a Chinese inland port and logistics hub via a multi-layer joint venture structure in Singapore and Hong Kong.
  • Advising Farasis Energy (Zhenjiang) Co., Ltd in relation to its set-up of a battery cell, module and pack production facility in Bitterfeld-Wolfen / Germany. The client will invest more than €600m in the new plant and create at least 600 new jobs.

Winston & Strawn LLP

Winston & Strawn LLP is extremely active in the realm of SPAC transactions in addition to Hong Kong’s takeover code and general M&A; its foremost sectors of expertise are life science, IT, retail and consumer products, healthcare and pharmaceutical and the group is helmed from Hong Kong by Simon Luk who is dual-qualified in the US and has recently been active in India and Singapore, among other jurisdictions. The firm formed a strategic alliance with Yuanda China Law Offices in June 2020, providing the practice with a holistic PRC, international and Hong Kong law offering.

Practice head(s):

Simon Luk

Key clients

Diginex Limited

Netfin Acquisition Corp.

Weiye Holdings Limited

Strong Petroleum Holdings Limited

Zhongying Int’l Holding Group Limited

China Youzan Limited

Link-Asia International Co. Ltd.

Meilleure Health International Industry Group Limited

Work highlights

  • Acted for Diginex Limited in its business combination with 8i Enterprises Acquisition Corp.
  • Advised Netfin Acquisition Corp. on its business combination with Triterras Fintech Pte Ltd.
  • Advised Weiye Holdings Limited in its very substantial disposal of the entire interest in its subsidiary which is a project company engaged in an urban renewal project in Huizhou city, Guangdong.