Corporate and M&A: foreign firms in China

Clifford Chance LLP

Working across its Beijing, Shanghai and Hong Kong offices, Clifford Chance LLP's sizeable Greater China corporate practice was recently involved in high-profile M&A transactions across several key sectors, including technology, energy and infrastructure, healthcare, consumer goods and financial institutions. On the mainland, Terence Foo advises multinational clients on inbound investments in China, and acts for Chinese clients on their outbound investments; Tim Wang is particularly active in advising large Chinese companies on their outbound investment and overseas listings; and Hong Zhang has substantial experience in corporate affairs. Also on the mainland, Kelly Gregory specialises in M&A and joint ventures in China; Glen Ma has a diversified practice that covers both inbound and outbound investments; and Yan Yuan and Yi Yang are the counsels to note. Andrew Whan heads the Asia Pacific corporate and M&A practice from Hong Kong, which also showcases experienced partners Neeraj Budhwani, Emma Davies, Amy Ho, Virginia Lee and Frank Yuen.

Practice head(s):

Andrew Whan

Key clients

Carrefour

State Grid

New World Development

NWS Holdings

Pfizer

EDF

Dongfeng Motor Group

Fosun

China Baowu Steel Group

CITIC

Hong Kong Broadband Network

Work highlights

  • Advised global asset manager Vanguard on its groundbreaking joint venture with Ant Financial, to provide retail investment advisory services in China.
  • In reportedly the largest Chinese acquisition in Turkey in 2019, the team advised a consortium on its acquisition of a 51% stake in ICA IC İçtaş Astaldi Üçüncü Boğaz Köprüsü ve Kuzey Marmara Otoyolu Yatırım ve İşletme A.Ş.
  • Advising on three investment tranches involving a proposed $5bn recapitalisation plan, which was announced by Cathay Pacific Airways.

Linklaters

A go-to firm for complex and high-stakes M&A transactions, Linklaters' Hong Kong and China corporate M&A practice fields sector experts in financial institutions, healthcare, and energy and infrastructure, along with funds, automotive, technology, insurance and consumer goods. Clients additionally benefit from the practice's multidisciplinary approach, which brings together its expertise across TMT, financial regulation, capital markets, banking, employment and antitrust. In Shanghai, John Xu is an inbound and outbound cross-border M&A specialist; Bryan Chan, who was elected partner in 2020, has broad experience in a wide variety of China-related cross-border corporate transactions; and Alex Roberts is an experienced corporate counsel. Matthew Middleditch in Hong Kong chairs the global corporate practice, and Matthew Bland provides additional corporate law support from Tokyo. The firm's China presence was recently further strengthened after the establishment of a joint operation office with Shanghai's Zhao Sheng Law Firm, which fields Richard Gu and Colette Pan, both of whom previously worked at Linklaters.

Other key lawyers:

John Xu; Bryan Chan; Alex Roberts; Richard Gu; Colette Pan

Key clients

Charoen Pokphane Group

China Merchants Group

China Merchants Port

Suning International Group Co., Limited

Jardine Strategic Holdings Limited

Southeast Asia Commercial Joint Stock Bank

Joint Stock Commercial Bank For Foreign Trade of Vietnam

Ozner Water International Holding Limited

The Siam Commercial Bank Public Company Limited

United Overseas Bank Limited

PT Astra International Tbk

Xtep International Holdings Limited

PingAn Real Estate Capital Limited

Genting Hong Kong Limited

China International Capital Corporation Hong Kong Securities Limited

Work highlights

  • Advised Charoen Pokphand Group on its $10.6bn acquisition of Tesco’s businesses in Thailand and Malaysia, reportedly the largest corporate acquisition in Thailand’s history.
  • Advised China Merchants Port on its strategic acquisition of interests in a portfolio of 10 terminals from CMA CGM.
  • Advised Suning.com on the acquisition of 80% of the shares in Carrefour China.

Skadden, Arps, Slate, Meagher & Flom LLP

Acting for many of the world's largest international companies, Skadden, Arps, Slate, Meagher & Flom LLP has a premier name in the market for big-ticket China and Hong Kong M&A deals, particularly involving Chinese and multinational companies. The practice consistently advises bidders, targets and financial investors on inbound and outbound cross-border M&A and private equity transactions, including share acquisitions and dispositions, asset purchases and divestitures, reorganisations and joint ventures. Clients also appreciate the team's sector strengths in TMT, financial institutions and consumer goods, among others. Beijing office leader Peter Huang is highly rated for his assistance to Chinese companies with cross-border M&A deals, as well as his experience in foreign investment deals in China. Cross-border M&A and investment expert Haiping Li leads the Shanghai office, where Flora Lu is a key corporate associate. The Hong Kong names to note are Julie GaoChristopher Betts, Geoffrey Chan and Shu Du, along with Edward LamPaloma Wang and Jonathan Stone.

Other key lawyers:

Flora Lu

Testimonials

Peter Huang remains a leading M&A lawyer, and almost invariably has a role in high-profile M&A transactions. He is bright, commercial and very good with clients.

Key clients

58.com

BeiGene

Bilibili Inc.

BitAuto Holdings Limited

China YuHua Education Corporation Limited

Ctrip.com

JD.com, Inc.

JOYY Inc.

Meitu, Inc.

Mubadala Investment Company PJSC

Work highlights

  • Advised 58.com on its $8.7bn going-private acquisition by a consortium of investors, led by Quantum Bloom Group and its subsidiary, Quantum Bloom Company.
  • Advised BeiGene, Ltd. (China) on its collaboration with Amgen for the commercialisation and development of three products in China and the joint global development of 20 oncology assets.
  • Advised Axiata Group Berhad on its $30bn proposed merger of equals with Telenor Group’s (Norway) Asia Pacific business (across 10 countries).

Allen & Overy LLP

Working across its Hong Kong, Beijing and Shanghai offices, Allen & Overy LLP is highly regarded for public and private M&A, private equity, joint ventures, privatisations and restructuring, particularly in relation to the energy and TMT sectors. Clients also benefit from the firm's Advanced Delivery & Solutions tools, which offer integrated expertise, technology, resources and consultancy services across the M&A lifecycle. On the mainland, corporate team head Victor Ho is experienced in Asian and PRC-related transactions; Ling Li is a China outbound specialist; Jack Wang specialises in cross-border M&A, joint ventures, and general corporate transactions; and Wayne Lee is a cross-border M&A and investment transactions expert. Growth on the mainland includes the elevation of Benjamin Crawford and Jean Ye to the partnership, as well as the firm's approved joint operation with Lang Yue Law Firm in the Shanghai Pilot Free Trade Zone. Will McAuliffe  heads the Hong Kong corporate practice, which also fields experienced partner Bernardine Lam.

Practice head(s):

Victor Ho; Will McAuliffe

Testimonials

The corporate and M&A team in Shanghai is always very responsive and provides hands-on advice; it also considers issues beyond the scope of the initial legal question. It knows and understand the needs of its clients.

Jack Wang is proactive and client focused.

Key clients

China Ping An Insurance

China Resources

CapitaLand Limited

Reckitt Benckiser

Greater Bay Area Homeland Development Fund

Singamas Container Holdings Limited

Roivant Sciences

FTLife Insurance Company Limited

State Grid Corporation of China

Work highlights

  • Advised State Grid Corporation of China on its acquisition of a 49% stake in Oman Electricity Transmission Company from Nama Holding.
  • Advised Ping An Group and Ping An Overseas Holdings on the acquisition of a controlling interest in iTutorGroup.
  • Advised Reckitt Benckiser Group on the establishment of a joint venture for the distribution of its Hygiene Home products in the PRC, Hong Kong, Taiwan and Macau.

Baker McKenzie FenXun

Excelling in cross-border deals, Baker McKenzie FenXun has over 40 years' corporate and M&A experience in China, including acting for multinational corporations that invest in China and Hong Kong; the team also has a strong track record in advising on M&A transactions that involve the domestic and overseas activities of Chinese companies and SOEs investing abroad. The M&A practice provides a full end-to-end service, which incorporates key specialisms such as tax, merger control, employment, pensions, litigation and IP. In Beijing, Stanley Jia has extensive experience in foreign investment projects in China, particularly those involving the energy, oil and gas and automotive sectors; and Asia Pacific energy, mining and infrastructure practice head, Boo Bee Chun, has approximately 23 years' M&A experience. Other highly rated advisers are Howard Wu in Shanghai, who focuses on cross-border transactions involving the PRC, along with FenXun Partners' senior counsels Zhenyu Ruan and Cherrie Shi. Tracy Wut heads the firm's Greater China M&A group from Hong Kong.

Practice head(s):

Tracy Wut

Other key lawyers:

Stanley Jia; Boo Bee Chun; Howard Wu; Zhenyu Ruan; Cherrie Shi

Key clients

Carlsberg

China Yangtze Power Company

CITIC Metal Co., Ltd

Evergrande Health

GlaxoSmithKline

INEOS Styrolution Group GmbH

Jin Jiang International

Metlife

METRO AG

Tencent Holdings Limited

Trip.com Group Limited

Whirlpool

Wolverine World Wide Inc

Yuexiu Property Company Limited

Work highlights

  • Advised GlaxoSmithKline on the international aspects of the proposed acquisition of a global consumer healthcare business from Pfizer.
  • Advised Yuexiu Property Company on Guangzhou Metro’s acquisition of a strategic stake in the company.
  • Advised China Yangtze Power Company on its $3.59bn purchase of Sempra Energy’s Peruvian businesses.

DLA Piper

DLA Piper's China team is consistently sought out for large and complex corporate and M&A mandates, including both inbound and outbound investment transactions. Sectors of particular strength include insurance, healthcare and life sciences, among others, with clients additionally benefiting from the group's regulatory and compliance expertise. The practice co-heads are Shanghai-based Qiang Li, a corporate, M&A and private equity specialist, and Roy Chan, a leading corporate and M&A adviser to China's insurance and financial services sectors. Also key to the mainland practice are Stewart Wang, who acts across the TMT, manufacturing, pharmaceutical, medical devices, aerospace and real estate sectors; and James Chang, whose practice increasingly includes high-profile, cross-border deals involving Chinese and other non-US buyers acquiring US targets. Luke Gannon leads the Asia corporate practice from Hong Kong.

Practice head(s):

Luke Gannon

Testimonials

The team has extensive experience in cross-border M&A transactions, especially in legal negotiations, transaction structuring, and document drafting and revision. The service is efficient and of high quality, with clients put first; and having abundant resources means collaboration with lawyers in other countries and regions during cross-border M&A, which promotes the smooth completion of transactions.

We have had a very pleasant working experience with Stewart Wang, who is very professional and efficient; in cross-border transactions, he is able to co-ordinate lawyers in various jurisdictions very well.

Key clients

Wanfeng

Ping An

Kerry Logistics Network

Nanjing Xinjiekou Department Store

Laureate Education

Pearson Education

Wise Road Capital

Rajax

Work highlights

  • Advised Nanjing Xinjiekou Department Store Co on its acquisition of the businesses of Dendreon Pharmaceuticals from Sanpower Group.
  • Advised Wanfeng Auto Holding Group on its €320m acquisition of Austria-based aircraft manufacturer, Diamond Aircraft Industries.
  • Acted for Ping An on its approximately $1.5bn exit from its strategic investment in Bigo, a fast-growing, live-stream company.

Hogan Lovells International LLP

In addition to advising foreign companies that invest in China, Hogan Lovells International LLP has a dedicated China outbound practice, which supports the firm's Chinese clients on their investments abroad. It is particularly proficient in working with clients from highly regulated sectors, such as TMT, financial institutions, automotive, and life sciences and healthcare. Beijing-based Liang Xu, who focuses on cross-border M&A, joint ventures, private equity and other corporate transactions, leads the corporate practice in Greater China; and Lu Zhou's broad practice includes advising private equity fund clients and financial institutions on structuring investment deals. Other experienced mainland China partners are Greater China chair Jun Wei and Philip Cheng, while counsel Michael Zou and senior associate Mo Chen provide further support. In Hong Kong, Stephanie Tang is Greater China private equity head and Andrew McGinty is 'very impressive'.

Practice head(s):

Jun Wei

Testimonials

Hogan Lovells is our go-to firm for corporate and M&A advice. It provides high-quality advice and delivers it in a professional manner. The team is diligent, responsive and straight-talking, and it understands the complex aspects of our business very well.

Andrew McGinty is very impressive; he is commercial, pragmatic, highly skilled and an excellent leader. His advice is also sound and practical.

Key clients

Jumei International Holding Limited

A buyer consortium

Sicoya GmbH

Tesca Group S.A.S.

Bobst Group SA

Sedgwick Inc.,

Work highlights

  • Advised a German semiconductor company on the establishment of a Sino-foreign equity joint venture with two Chinese partners in Tianjin.
  • Acted for the buyer consortium on the buyout transaction involving Nasdaq-listed Gridsum Holding, a provider of cloud-based big-data analytics and AI solutions for multinational and domestic enterprises and government agencies in China.
  • Advised the special committee of Jumei International Holding, as US legal counsel, on its acquisition and going-private transaction.

Morrison & Foerster LLP

Morrison & Foerster LLP distinguishes itself through headline technology sector deals, including e-commerce and data centre-related transactions. The practice also fields experts in life sciences, healthcare, real estate and education (particularly online education), who are able to leverage the firm's robust finance and restructuring practices. Also of note is its fast-growing fintech practice. In Beijing, Lucy Lu focuses on a broad range of PRC-related corporate matters; and Shanghai-based Ruomu Li has extensive experience in advising strategic and financial investors on transactions in the technology and life sciences industries. Other key mainland China advisers are Beijing and Shanghai managing partner, Paul McKenzie, and Chuan Sun, who works across the Shanghai and Hong Kong offices, along with associates Tian Zhou, Alice Li, Richard Ji and Sarah Wang. Marcia Ellis and Thomas Chou co-head the Asia private equity practice from Hong Kong, where Vivian Yiu is a cross-border transactions specialist.

Other key lawyers:

Tian Zhou; Alice Li; Richard Ji; Sarah Wang

Testimonials

A professional team that is prompt to respond, considerate and flexible.

This very capable, intelligent team has deep experience. Client service is its biggest strength – it is our go-to adviser for complicated and time sensitive transactions.

Marcia Ellis is experienced, extremely capable, very hardworking, and understands our business.

Key clients

Softbank

Softbank Vision Fund

Alibaba Group

GLP

Ascendent

Ally Bridge

BlackRock

NewQuest Capital Partners

Vectr Ventures

Intudo Ventures

Farallon Capital Asia

Bain Capital Credit

Ark Pacific Capital

Celadon Partners

Work highlights

  • Advised Alibaba Group Holding on Alibaba’s acquisition of a 33% equity interest in Ant Financial.
  • Advised SoftBank Vision Fund on an investment (totalling $1.5bn) in Chehaoduo.
  • Advised on an unconditional mandatory cash offer by ABCI Capital, on behalf of the joint offerors to acquire all the issued shares of Royale Furniture Holdings.

Norton Rose Fulbright

Norton Rose Fulbright's corporate and M&A team is particularly noted for transactions involving key sectors, such as financial Institutions and fintech, TMT, life sciences and healthcare, manufacturing and consumer markets, transport, and energy and infrastructure. Clients also appreciate the practice's assistance with regulatory and compliance, antitrust and IP issues. In Shanghai, office head Sun Hong's corporate practice covers foreign direct investment, M&A, joint ventures and corporate transactions involving PRC assets and entities; and Lynn Yang has extensive knowledge of the transactional and regulatory aspects of PRC-related financial services matters, including insurance and fund management. Other names to note are Beijing head Wang Yi, whose experience extends across the mining, energy, agricultural and transport sectors; Tom Luckock, who specialises in joint venture and M&A transactions in the power, infrastructure and water sectors; and experienced corporate associate Johnny Liu. Former corporate partner Barbara Li left for Rui Bai Law Firm.

Practice head(s):

Sun Hong; Wang Yi

Key clients

BP

China Dili Group

China Mengniu Dairy Company Limited

China International Water & Electric Corporation

Engie

HSBC

HSBC Insurance (Asia) Ltd

Luxury Escape

Schlumberger

SDIC Power

Shun Tak Holdings Limited

Work highlights

  • Advised HSBC Insurance (Asia) on the acquisition of the remaining 50% equity interest in HSBC Life Insurance Company, its life insurance joint venture in China.
  • Advised Luxury Escapes, a well-known brand in the tourism industry, on launching its debut investment in China by setting up a joint venture with Chinese travel brand, Zanadu.
  • Advised a US pharmaceutical company on setting up a joint venture in China.

Paul, Weiss, Rifkind, Wharton & Garrison LLP

Paul, Weiss, Rifkind, Wharton & Garrison LLP's China team is widely respected in the market for its advice on impactful M&A deals in mainland China and Hong Kong. In Beijing, Judie Ng Shortell is recommended for M&A and private equity investments, particularly in the TMT sector; Greg Liu is noted for his work involving M&A and private equity investments across a range of industries, such as TMT, retail, real estate, automotive, and food and beverage. Notable support is provided by associate Jack Sun, who focuses on China-related private equity investments, cross-border M&A and foreign direct investments. In Hong Kong, Betty Yap is managing partner of the China practice, and Edwin Chan is an experienced counsel.

Practice head(s):

Judie Ng Shortell; Greg Liu

Other key lawyers:

Jack Sun; Betty Yap; Edwin Chan 

Testimonials

The team is very capable and efficient, and demonstrates strong levels of professionalism; it also assists clients with setting up defence mechanisms against potential risks.

Key clients

Wumei

State Grid Corporation

Tencent

Baidu

Didi Chuxing

MagnaChip Semiconductor

Microsoft Corporation

Dalian Wanda Group

Ontario Teachers’ Pension Plan

Hillhouse Capital

KKR

DCP Fund

Work highlights

  • Advised Wumei, one of the largest retailers in China, on its €1.9bn acquisition of the retail, wholesale and cash and carry operations in China of Germany’s Metro.
  • Advised China-based utilities company State Grid International Development on its $2.23bn acquisition of Chilquinta Energía from Sempra Energy.
  • Advised KKR on its $794m acquisition of a majority equity stake in NVC Lighting Holding’s China lighting business.

Simpson Thacher & Bartlett LLP

Working across the firm''s Beijing and Hong Kong offices, Simpson Thacher & Bartlett LLP's China practice fields a 13-partner team that advises on the full spectrum of corporate work, including M&A, capital markets, investment funds, and banking and credit transactions. It assists Chinese state-owned and non-state-owned companies, and financial institutions, with their business activities in the US and the Americas, Europe, the Middle East, Africa, Australia and across Asia; and in Greater China matters, the team typically acts for international financial institutions, corporations and investors. In Beijing, Yang Wang's varied practice includes M&A, private equity and corporate finance transactions, and other general corporate matters, while Amy Liu is an experienced associate. Over in Hong Kong, Ian Ho advises public and private corporations, and private equity firms, on complex cross-border transactions throughout the Asia Pacific region; and Celia Lam is China practice head.

Practice head(s):

Ian Ho; Yang Wang; Celia Lam

Other key lawyers:

Amy Liu

Key clients

Alibaba Group Holding Limited

Aluminum Corporation of China

Ant Financial

Apax Partners

Athenex Inc.

Bank of America Merrill Lynch

The Blackstone Group (and portfolio companies)

Bona Film Group

Cainiao Smart Logistics Network

The Carlyle Group

China Life Insurance Company

China National Chemical Corporation

Citigroup Global Markets

Fountainvest

Foxconn

GDS Holdings

iKang Healthcare Group

J.P. Morgan

Kohlberg Kravis Roberts & Co. (and portfolio

companies)

Koubei Holding Limited

Lexington Partners

Meili Inc.

Morgan Stanley Private Equity

Primavera Capital Group

Sequoia Capital China Fund

Silver Lake Partners

Warburg Pincus

Yunfeng Fund L.P

Work highlights

  • Assisted KKR with its announced investment in Jio Platforms.
  • Advised New Frontier Corporation on its acquisition of United Family Healthcare from its existing shareholders, including affiliates of TPG and Fosun Pharma.
  • Advised KKR on its acquisition of certain international operations from Campbell Soup Company.

White & Case LLP

With offices in Beijing, Shanghai and Hong Kong, global law firm White & Case LLP has a strong foothold in China. The practice is highly regarded for its structuring and execution of complex, high-profile inbound and outbound M&A transactions that involve China; clients also benefit from the practice's foreign investment review group, which covers Committee on Foreign Investment in the United States advice. The team's recent deals involved the energy, mining and metals, automotive, financial services, manufacturing, packaging and consumer goods sectors; it has also experienced notable growth in technology, media, online gaming and education industry-related transactions. Both working across the Shanghai and Beijing offices, Alex Zhang is the highly rated China corporate and M&A head, and Vivian Tsoi's key clients include global corporations and Chinese state-owned and private enterprises. In Hong Kong, Christopher Kelly is Asia M&A practice head.

Practice head(s):

Alex Zhang; Christopher Kelly

Testimonials

An excellent firm that combines local knowledge with world-class international expertise and capabilities.

The team, led by Alex Zhang, is well-trained, supervised and works well together. Furthermore, Zhang and the team members he assigns to projects are conscientious and efficient.

Alex Zhang is absolutely one of the best deal lawyers on this planet, with a tremendous sense of the commercial aspects of a transaction, in addition to superb legal advice. He is a fantastic deal lawyer, who is an invaluable external asset that integrates with us on all transactions.

Vivian Tsoi is the absolute gold standard for M&A in China – extremely hardworking and fights to the end to preserve clients’ interests. A true deal maker!

Key clients

Sempra Energy

Bright Scholar Education Holding

Sony Corporation of America

Magna Steyr AG & Co KG

EQT

GPA Global

CAA China, LLC

Groupe Legris Industries

Holmbergs Safety System Co., Ltd.

Salcomp Holdings

IFS AB

Fusion Capital

Goldman Sachs

CMC Capital

Pala Investments

Work highlights

  • Advised Sempra Energy on both the sale of its interest in its Chilean businesses to State Grid International Development and its interests in its Peruvian businesses to China Yangtze Power International (Hong Kong).
  • Advised NYSE-listed Bright Scholar, an operator of international and bilingual K-12 schools in China, on its £150m acquisition of the entire equity interest in CATS Colleges Holdings.
  • Advised Sony Corporation of America, a subsidiary of Sony Corporation, on its $400m investment in Bilibili, a China-based provider of online entertainment services.

Davis Polk & Wardwell LLP

With a strong track record in high-value China M&A, Davis Polk & Wardwell LLP's team consistently advises on complex and significant inbound and outbound transactions in Asia. It is sought out by a broad array of clients across a range of industry sectors, including TMT, financial institutions, retail, energy, healthcare and real estate. Howard Zhang is the firm's M&A and private equity partner in Beijing, where Annie Yan and Yunpeng Fan are experienced corporate counsels. Key Hong Kong contacts include Miranda So and Yang Chu.

Practice head(s):

Howard Zhang; Miranda So; Yang Chu

Other key lawyers:

Annie Yan; Yunpeng Fan

Work highlights

  • Advised Tencent on its participation in a private placement by Pinduoduo of newly issued Class A ordinary shares.
  • Advised Tencent and Tencent Music Entertainment on the planned acquisition by a Tencent-led consortium of a 10% equity stake in Universal Music Group from its parent company, Vivendi.
  • Advised Baidu Holdings, as selling shareholder, on an SEC-registered offering of 36m American depositary shares.

Herbert Smith Freehills LLP

Herbert Smith Freehills LLP has over 30 years' experience in the Greater China market, with the M&A team specialising in complex, highly regulated transactions in Greater China and deals involving Chinese clients. It particularly stands out for energy and TMT-related M&A deals, as well as for its joint legal operation with Shanghai's Kewei Law Firm, which facilitates the provision of PRC law advice. Shanghai managing partner Nanda Lau is a highly rated corporate and M&A expert, while Tom Chau is the partner to note in Beijing. The Hong Kong names to note are Greater China corporate head Matt Emsley, and recently appointed Asia M&A head Jason Sung.

Practice head(s):

Matt Emsley; Jason Sung

Other key lawyers:

Nanda Lau; Tom Chau; Tommy Tong; Hilary Lau

Key clients

Huaneng Renewables Corp. Ltd.

China Telecom

China Merchants Group

China Resources Enterprise

Ant Financial

Alibaba

China Resources Capital Management

Adicon Holdings Limited

HNA International

China National Oil and Gas Exploration and Development Company

Shunfeng International Clean Energy

Associated British Foods

CSSC Offshore & Marine Engineering (Group) Company Limited

Inchcape plc

Essentra Pte. Ltd.

Keppel T&T

Beijing Jinhong Investment and Development Company

Chongqing Jiangxiaobai Wine Co., Ltd.

SML Group Holdings Limited

Work highlights

  • Advised Huaneng Renewables Corp on its privatisation, which was structured as a voluntary general offer by its parent company, China Huaneng.
  • Advised CSSC Offshore & Marine Engineering (Group) Company on its sale of an approximately 27.42% interest in Guangzhou Shipyard International Company to China CSSC Holdings.
  • Advised Shunfeng International Clean Energy on the sale of its solar power module manufacturing and plant management businesses to Asia Pacific Resources Development Investment.

Morgan, Lewis & Bockius LLP

Morgan, Lewis & Bockius LLP's large, experienced China corporate team has a substantial track record in handling complex international M&A and private equity deals. Working across the Beijing and Hong Kong offices, Ning Zhang heads the corporate, M&A and private equity team in Beijing. In Shanghai, Mitch Dudek advises on the structuring, financing, acquisition and divestiture of investments throughout Greater China, while Alex Wang focuses on private equity, M&A, real estate and TMT. Maurice Hoo heads the corporate, M&A and private equity practice in Hong Kong, where Edwin Luk is global leader of the firm’s corporate and securities practice.

Practice head(s):

Maurice Hoo; Edwin Luk; Mitch Dudek

Other key lawyers:

Ning Zhang; Alex Wang; Connie Cheung

Testimonials

They are diligent, focused, and go out of their way to think about scenarios from different angles. They have our best interests in mind, both short-term and long-term.

Maurice Hoo has been an indispensable partner to our business ever since we started using his services. He’s much more than a lawyer – he always give sound advice, which is not only based on legal perspectives but also on business considerations and practicality. We consult with Maurice on almost all business matters and he has never failed to help us.

Maurice Hoo is a very responsible lawyer, who always acts promptly, no matter which day of the year it is or what time of the day it is. Under Maurice’s leadership, his teammates are also very helpful.

Maurice Hoo is exceptional. He is an outstanding lawyer by any measure, as well as being very smart and pleasant to work with.

Maurice Hoo understands every facet of our company, partners and stakeholders, discusses everything in detail, and gives us 150%.

Key clients

Warburg Pincus

ATA Creativity Global

Shanghai Kuokun Investment Management Company Limited

Bohai Fund

China Hengshi Foundation Company Limited

BOCI Financial Products Limited

Kofu Hong Kong Holdings Limited

Meten International Education Group

Work highlights

  • Advised Warburg Pincus on its $500m investment Series B round financing in Ziroom, a China-based home-renting platform.
  • Advised Kofu Hong Kong Holdings, a joint venture between Shenzhen Yitoa Intelligent Control Co and California-based global conglomerate G Tech Systems Group, on its purchase of all outstanding shares of Pioneer Micro Technology Corp.
  • Advised ATA Creativity Global, a NASDAQ-listed educational services provider, on the leveraged management buyout of the company’s primary business.

O'Melveny

O'Melveny's China M&A team is experienced in advising companies and financial investors on merging, acquiring, and investing in and disposing of public and private businesses and assets, whether domestic or international. It acts for clients in a variety of sectors, including TMT, life sciences, real estate, new energy, chemicals, manufacturing and retail, among others. Acting for multinationals, private equity funds and growth companies, Shanghai managing partner Walker Wallace is a highly rated M&A practitioner; and Beijing managing partner Ke Geng is a cross-border deal specialist. Nima Amini and Edwin Kwok are the Hong Kong names to note.

Testimonials

Very knowledgeable and professional.

Ke Geng is very pleasant and professional; he is an expert in his practice, but can also present and articulate very well.

Key clients

Consortium in going-private Acquisition of SORL Auto Parts

Weichai Power

Joy Bright

TTM Technologies

Essence International Capital Limited

UP Fintech Holding Limited

Founders of Nanjing USA, Inc.

Viasat Inc.

Coller Capital

Accuray Incorporated

Seek Limited

The Public Investment Fund of the Kingdom of Saudi Arabia

Lucid Motors

GIC Private Limited

Kordis Holding Limited

Ansun Biopharma

Shenzhen Distinct Healthcare Investment Consulting Co., Ltd.

Work highlights

  • Advised Viasat on its strategic partnership with China Satellite Communications.
  • Advised Weichai Power on its joint venture with Ballard Power Systems.
  • Acted for Joy Bright on its acquisition of Central China Real Estate.

Orrick, Herrington & Sutcliffe LLP

Acting on a balanced mix of inbound and outbound matters, Orrick, Herrington & Sutcliffe LLP's China-based M&A attorneys are well known for their experience in the technology and energy and infrastructure sectors, as well as deals involving the automotive and life sciences industries. On the mainland, Jeffrey Sun is a technology M&A specialist; Betty Louie focuses on Chinese corporations' outbound investments and acquisitions; and Sarah Zeng advises on China outbound M&A, foreign direct investment, and other cross-border transactions with Chinese components. Transactions, regulatory and compliance expert, Jeff Zhang, is a partner in the Beijing and New York offices. The firm closed its Hong Kong office in 2020.

Key clients

JD.com Inc.

Toyota Motor

M17 Entertainment

Highpower International, Inc.

Pactera Technology

Geo-Jade Corporation

Estun Automation and China Renaissance Capital

Investment

Special Committee of the Board of Directors of Gridsum

Holding Inc.

Tianjin Binhai New District Baochang Shipping Investment

Management Co., Ltd.

Neway Valve (Suzhou)

Beijing Aeonmed Co. Ltd

Work highlights

  • Advised JD.com, the largest retailer and e-commerce company in China by revenue, on the $931m Series A financing for its healthcare subsidiary, JD Health.
  • Advised Toyota Motor on its $400m Series B investment in Pony.ai, a Guangzhou-based autonomous driving AI company.
  • Advised M17 Entertainment, a social networking entertainment start-up, on its acquisition of MeMe Live, a live streaming platform that is controlled by Beijing-based social gaming developer, Funplus.

Paul Hastings LLP

With particular strength in major outbound acquisitions, Paul Hastings LLP's China corporate and M&A team consistently attracts high-value, complex TMT, fintech, real estate and life sciences deals. It advises on the full spectrum of transactions, including acquisitions, joint ventures, investments, and other corporate work. Advising for investors in new technology, entertainment, communications and media projects, David Wang's primary areas of focus are M&A, private equity, joint venture and capital markets; corporate and M&A practitioner Jia Yan co-chairs the firm’s Shanghai and Beijing operations; and corporate specialist Sophie Han was made partner in late 2019. Greater China chair Raymond Li and Vivian Lam are the key Hong Kong contacts.

Other key lawyers:

Sophie Han

Testimonials

Business-savvy partners who are well versed in US and Chinese law for both inbound and outbound work. They provide legal solutions for budget-conscious clients.

David Wang is a well-rounded corporate lawyer, with comprehensive cross-border transaction experience in China and the US; he also has very high levels of business acumen.

Jia Yan possesses strong PRC regulatory experience.

Key clients

China COSCO

CDH Investments

Fosun International

Ping An Insurance

Alpha Investment Partners

China Life

CIMC

ICBC International

City Football Group Limited

Work highlights

  • Advised Fosun Pharmaceutical on the sale of stakes in United Family Healthcare.
  • Advised ARA Asset Management on its formation of a partnership with Straits Real Estate and ICBC International for the acquisition of Shanghai retail mall, Sanlin InCity.
  • Advised Fosun Pharmaceutical on forming a strategic alliance with Germany’s Biopharmaceutical New Technologies, to develop and commercialise a vaccine that prevents COVID-19 infections.

Reed Smith Richards Butler

From its Beijing, Shanghai and Hong Kong offices, Reed Smith Richards Butler's China M&A team advises PRC businesses on their outbound investments and offshore transactions. It also acts for Hong Kong-listed corporations on their Greater China and regional deals, and assists foreign clients that invest in mainland China. Beijing managing partner Michael Fosh has sector strength in consumer products, agribusiness, media and entertainment, and energy and natural resources; Eric Lin is an international M&A specialist; Ke Zhang handles a range of M&A and general corporate matters; and Amy Yin and Jay Yan are key names in Shanghai. In Hong Kong, Denise Jong is Asia Pacific managing partner.

Practice head(s):

Michael Fosh; Jay Yan; Denise Jong

Other key lawyers:

Eric Lin; Ke Zhang; Amy Yin

Testimonials

Strong professional ability and conscientious approach to work.

Significant experience in company M&A.

They have a strong sense of the overall situation and provide very professional services.

Shearman & Sterling LLP

In addition to a strong pipeline of outbound investment work, Shearman & Sterling LLP's multidisciplinary Greater China team also has a robust practice in relation to inbound investment matters for multinational corporations. Of particular note, the group has specific expertise in the TMT, infrastructure, energy, financial services and asset management sectors. Li Chen, an M&A, corporate and private equity specialist, and Sean Wang, an energy M&A transactions expert, divide their time between the Beijing and Hong Kong offices, while former Beijing partner Lee Edwards is now of counsel. In Hong Kong, Lorna Chen is Greater China head.

Practice head(s):

Li Chen

Other key lawyers:

Lee Edwards; Lorna Chen; Max Hua

Testimonials

The team has substantial experience in M&A; it is also dedicated and gives constructive opinions.

Li Chen has significant experience in both Chinese and foreign laws. She has successfully participated in many projects on behalf of investors, which have greatly helped our fund’s investments!

Key clients

Bain Capital

Canada Pension Plan Investment Board

CarVal Investors, LLC

China Merchant Funds

China National Petroleum Company International

PetroChina

China State Construction Engineering Corporation

China Telecom Corporation (CTC)

China-LAC Co-operation Fund

Danone Asia Pte Ltd

Huawei

Hubei Science & Technology Investment Group

InfrAlpha Advisors (Hong Kong) Limited

Jiangxi Railway Investment Group Corporation

RCIF Asset Management

Restaurant Brands International Inc. (RBI)

Shanghai Electric Group

Sino Ocean Group

State Grid International Development

Taikang Insurance

Temasek

ZZ Capital

Work highlights

  • Advised CTC on its joint venture with Udenna Corporation, which concerns a telecoms project in the Philippines.
  • Advised RBI on its franchise agreements with Popeyes Shanghai Restaurant Management Co.
  • Advised China National Petroleum Company International and PetroChina on an integrated upstream oil and downstream refinery project in Brazil.

Weil, Gotshal & Manges LLP

Acting for leading global and Asian corporations and private equity sponsors, Weil, Gotshal & Manges LLP's M&A team, which operates as a single platform across the firm's mainland China and Hong Kong offices, is highly sought after for complex, cross-border deals that frequently involve the healthcare, e-commerce and consumer goods sectors. It also stands out for take-private deals involving US-listed Chinese companies. Working across the Shanghai and Beijing offices, China practice head Charles Ching acts for financial sponsors and corporate clients on cross-border M&A and investment transactions; and Hong Kong head Tim Gardner focuses exclusively on private equity and M&A.

Practice head(s):

Charles Ching; Tim Gardner

Key clients

Tianjin Zhonghuan Semiconductor Co. Ltd.

Jinbo Yao, founder, chairman and CEO of 58.com

Eli Lilly

Primavera Capital

Hillhouse Capital

Alibaba Group

MBK Partners

Huanxi Media Group

Synopsys

Anchor Equity Partners

NWS Holdings

Canadian Solar

Work highlights

  • Advised Tianjin Zhonghuan Semiconductor Co, as sponsor investor, on the sponsored spin-off of Maxeon from SunPower Corporation.
  • Advised Eli Lilly on its strategic collaboration and license agreement with Shanghai Junshi Biosciences Co, to co-develop, manufacture and commercialise two antibodies for the prevention and treatment of COVID-19.
  • Advised Synopsys on the setup of a joint venture in China with Huada Semiconductor, Beijing DF Investment, and other parties.

Ashurst

Ashurst's Greater China corporate transactions practice is experienced in inbound and outbound M&A and joint ventures, as well as governance and regulatory issues. It is particularly noted for its sector expertise in energy and resources, infrastructure, mining, retail, digital economy and venture capital. Specialising in foreign direct investment and M&A, Michael Sheng heads the mainland China corporate and M&A practice from Shanghai, where Daniel Oehvall is the counsel to note. Mark Stanbridge heads the Asia Pacific corporate transactions practice from Sydney.

Practice head(s):

Mark Stanbridge

Testimonials

The team is efficient, accurately grasps the key points in M&A transactions, and gives very valuable legal advice.

The firm definitely has broad international expertise and a strong network with high-quality partners. It goes beyond pure legal advice and is extremely commercial.

The lawyers are very efficient and market-sensitive.

Key clients

Hyundai Motor Group

ITOCHU Corporation

Panda Green Energy Group Limited

Inke Limited

CCB International Asset Management Limited

Choi Shun Investment Limited

BGC Partners

Ed Broking (Hong Kong) Limited

Macquarie Capital

Covanta Energy, LLC

Work highlights

  • Advised Hyundai on the establishment of a $4bn joint venture with Aptiv, for the design, development and commercialisation of software technologies (among others) for autonomous driving.
  • Acted for ITOCHU Corporation on its acquisition (alongside Ruyi Group) of the INVISTA apparel and advanced textiles business from Koch Industries.
  • Advised Panda Green Energy Group (together with its subsidiaries) on a subscription agreement for the allotment and issue of shares, which included substantial negotiations.

Bird & Bird

Bird & Bird's corporate department has particular strengths in sectors such as TMT, life sciences and healthcare, private equity and venture capital, retail, sports, automotive and aviation. On the mainland, John Shi has extensive experience in transactional and commercial work; Sven-Michael Werner has approximately 20 years' legal practice experience in China; Shan Lai specialises in cross-border M&A, corporate and commercial matters, and foreign direct investment; and Kaichen Xu is an expert in venture capital and private equity investments in China.

Testimonials

A very pragmatic and diligent team that provides very sufficient support to clients during M&A transactions.

The team’s global integration, collaboration and management model enable a high degree of co-operation among partners; the group also serves a wide range of client industries and understands the core issues when completing transactions.

Bird & Bird’s leading technology research and development and technical service capabilities add value to clients’ commercial transactions.

Shan Lai is able to address issues that arise during transactions. In addition to the legal perspective, she puts forward additional options from the company’s strategic perspective, so as to advance transactions.

Key clients

Air China Limited

Beijing Xinwei Technology Group Co., Ltd.

China Telecom (Europe) Limited

Royal Cosun and its subsidiary Aviko

S.F. Express

Versarien plc

Work highlights

  • Advised UK-based advanced engineering materials group, Versarien, on the establishment of a graphene manufacturing joint venture in China with Young-Graphene (Beijing) Technology Development Co.

Cleary Gottlieb Steen & Hamilton

Cleary Gottlieb Steen & Hamilton's long-established China and Hong Kong M&A team includes US and UK-qualified lawyers, who are well known for international M&A transactions, particularly large, cross-border deals. Working across the Beijing and Hong Kong offices, Denise Shiu focuses on international M&A, private equity, and foreign direct investment transactions in China and the rest of Asia. Tian Gao is an experienced corporate and financial transactions counsel.

Other key lawyers:

Denise Shiu; Tian Gao

Key clients

CDH Investments

China International Capital Corporation

Hillhouse Capital

Hony Capital

HOPU Fund Management Company

Lenovo

PAG Asia

Silk Road Fund

Temasek Holdings

TPG

Work highlights

  • Advised TPG on the sale of United Family Healthcare (by TPG, Fosun and other existing shareholders) to New Frontier Corp.
  • Assisted Amundi Asset Management with obtaining the approval from the China Banking and Insurance Regulatory Commission to commence preparatory work for the establishment of a wealth management joint venture in the PRC.
  • Advised Silk Road Fund Co (and its subsidiary CVXF) on CVXF’s acquisition of 49% of the share capital of ACWA Power Renewable Energy Holding.

CMS

Advising clients in mainland China and Hong Kong for over 40 years, CMS' corporate and M&A practice covers M&A, joint ventures, restructuring, corporate finance, governance and compliance, spin-offs and liquidations, among others. It is particularly well known for cross-border corporate and M&A projects involving the automotive, pharmaceutical, biotechnology, manufacturing, chemicals and TMT sectors. Shanghai managing partner Ulrike Glueck heads the China corporate practice and TMC group. Experienced partner Falk Lichtenstein is the main Beijing contact.

Practice head(s):

Ulrike Glueck

Other key lawyers:

Falk Lichtenstein

Testimonials

The team is familiar with clients’ business and has legal experts in multiple fields, which ensures the quality, speed and appropriate cost levels of its legal services, as well as effectiveness and efficiency.

Ulrike Glueck is an outstanding collaborator in this area, especially in Sino-German/Sino-Europe business. Her deep understanding of cross-jurisdictional business helps clients achieve their maximum business goals.

Key clients

SMA Solar Technology AG

Colgate-Palmolive

Work highlights

  • Advised SMA Solar Technology on the sale of all its shares in its China subsidiaries.
  • Advised Colgate-Palmolive Company on the China aspects of the acquisition of 99.2% of the share capital of Laboratoires Filorga Cosmetiques.

Deacons

Working across offices in Beijing, Shanghai and Guangzhou, Deacons' China practice advises on approvals for investment projects, cross-border M&A, joint ventures, supply and distribution agreements, and setting up offices and operations in China. It is also experienced in assisting Chinese SOEs and privately-owned enterprises with their outbound investment and business activities. Dividing his time between Hong Kong, Shanghai and Eastern China, cross-border investment and M&A expert Myles Seto heads the China offices. Machiuanna Chu is the principal Hong Kong contact.

Practice head(s):

Machiuanna Chu

Other key lawyers:

Myles Seto

Testimonials

Deacons is unique as it has three local offices in China, which can provide on the ground support for cross-border M&A transactions. The lawyers are capable and knowledgeable, and can provide practical advice to suit business needs.

Myles Seto is well versed in both commercial and banking practices, and can provide one-stop-shop services for the M&A and financing aspects of a particular transaction. Myles is responsive and dedicated to the completion of transactions.

Eversheds Sutherland

Eversheds Sutherland's Greater China team covers the full corporate cycle, including fund and entity establishment and fund raising; private equity and venture capital; corporate M&A; exits; and reorganisations, restructuring and insolvency. With substantial experience in mainland China, Shanghai managing partner Jack Cai heads the China inbound M&A team; Beijing managing partner and China corporate head Jay Ze is an energy and natural resources deal expert; and Richard Cao is an experienced counsel. In Hong Kong, Charles Butcher leads the Asia M&A practice and Stephen Mok is Asia corporate head.

Other key lawyers:

Richard Cao

Testimonials

The team’s advantage is that it can work in both Chinese and English, and is familiar with both Chinese law and British and American laws.

It has significant experience in M&A, and provides clients with a variety of solutions to problems. The team is serious and responsible, has a rigorous work style, a strong sense of service, and high-quality work that meets client requirements in a short time.

The team has a deep understanding of the power and energy industry, especially for cross-border M&A projects. Its lawyers have diversified professional backgrounds, high professional standards, and conscientious work attitudes.

Its investment advice has better ensured the safety of clients’ overseas investments.’

Key clients

Baird Capital Partners

Belt Road Investment Group

Cassia Investments

CGN Energy International Holdings Co., Limited

China-LAC Cooperation Fund

Cielo Talent

CITIC Limited

Eaton

FTI Consulting

G4S

Gemalto Group

General Motors

Helly Hansen

HNA Group

Iron Mountain

JAS Worldwide

New World Development Company

NFI Group

Quad/Graphics

Work highlights

  • Advised HNA Group on its HK$4.93bn sale of Hong Kong Express Airways to Cathay Pacific Airways.
  • Advised Baird Capital on its majority acquisition of end-to-end, audio-visual and video collaboration solutions provider, Vega Global Group.
  • Advised Quad/Graphics on its $132m acquisition of advertising agency Periscope.

Gibson, Dunn & Crutcher LLP

Gibson, Dunn & Crutcher LLP's China practice regularly acts on M&A deals involving multiple jurisdictions and practice groups; take-private transactions of US and Hong Kong-listed Chinese companies; US and Hong Kong public company transactions; foreign direct investments; and acquisitions and divestitures in Europe. Fang Xue is an M&A and private equity partner in Beijing, while Yi Zhang, who works across the firm's Hong Kong and Beijing offices, focuses on China corporate matters, and Graham Winter provides additional support from Hong Kong.

Practice head(s):

Fang Xue; Graham Winter; Yi Zhang

Key clients

NetEase, Inc

General Electric

Celanese Corp.

D. E. Shaw

mCube, Inc.

Anchor Equity Partners

Hillhouse Capital

AGIC Capital

CITIC Capital

Special Committee of SORL Auto Parts, Inc

JPMorgan

Macquarie

Work highlights

  • Advised Celanese Corp on its acquisition of Nouryon’s redispersible polymer powders business.
  • Advised the Special Committee of SORL Auto Parts on the going-private transaction for SORL Auto Parts.
  • Advised Anchor Equity Partners on a $100m Series D investment in Yangtuo Technology, a Chinese company that provides mother and baby care products.

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

Gide Loyrette Nouel A.A.R.P.I. has an established record in advising foreign clients on complex, cross-border transactions involving China, including corporate and M&A matters. The firm's growing China outbound practice encompasses significant investments by Chinese investors (both state-owned and private companies) in France, but also elsewhere in Europe, Africa and South East Asia. David Boitout is particularly focused on transactions involving growth markets, and Shanghai office head Jiannian Fan is a cross-border M&A expert. Min Guo leads the Beijing office.

Practice head(s):

David Boitout; Jiannian Fan; Min Guo

Testimonials

A clearly dedicated team, with an excellent grasp of clients’ business.

Key clients

Air Liquide

MF Brands

BioMérieux

Icicle Fashion Group Co Ltd

Ipsen

Legrand

Lesaffre

Renault

Total

Vallourec

Work highlights

  • Advised Legrand on its acquisition of Jobo Smartech (Huizhou) Co.
  • Advised GANT on its acquisition of a distribution network from its distributor Longgoal.
  • Advised PSA Group on the sale of its equity interest in CHANG’AN PSA Automobiles Co to Bao Neng Group.

Jones Day

Consistently advising Chinese companies on significant outbound deals, Jones Day is particularly well known for life sciences-related transactions in China. Angel Huang, who serves as the Shanghai partner in charge and M&A chair for Asia, focuses her practice on cross-border M&A transactions, foreign direct investment, private equity and venture capital transactions, and strategic investments. Additional key mainland advisers are Beijing partner in charge Jessie Tang, experienced partner Liming Yuan, and of counsel Ross Keene.

Practice head(s):

Angel Huang

Other key lawyers:

Jessie Tang; Liming Yuan; Ross Keene

K&L Gates

K&L Gates' Greater China team focuses on inbound and outbound corporate and M&A deals, including corporate, commercial and venture capital transactions, and private equity fund investments. Known for advising Chinese SOEs, the practice also acts for start-ups, and mid-market and large-cap public and private companies. Simon Poh is a cross-border M&A specialist in Shanghai, where Max Gu  and of counsel Rong Fan are key advisers; and Frank Voon is a corporate partner in the Beijing and Hong Kong offices. Hong Kong's David Tang is Asia managing partner.

Practice head(s):

David Tang

Key clients

Beijing Hines Property Management Co., Ltd.

Bluescope Steel

DIC Corporation

Greentown Education Investment Co. Ltd

Investor AB Limited

KaiOS Technology

Koppers Inc.

Luye Medical

Luye Pharma Group

TCL Holdings

Work highlights

  • Advised Koppers on the sale of its entire equity interests in Koppers (Jiangsu) Carbon Chemical Company, a Sino-foreign joint venture, to Fangda Carbon New Material Co and C-Chem Co.
  • Acted for TCL Holdings before the Hong Kong Security and Futures Commission on Hong Kong Takeovers Code issues.
  • Advised a subsidiary of HKSE-listed Greentown Service Group Co on its acquisition of a majority interest in Montessori Academy Group Pty.

Kirkland & Ellis International LLP

Kirkland & Ellis International LLP's Greater China practice covers a range of transactional work in Hong Kong and the PRC, including cross-border investments, divestments and take private transactions, public takeovers and privatisations. Clients particularly benefit from the firm's supporting debt finance and Foreign Corrupt Practices Act practices. Chuan Li is a cross-border transactions specialist on the mainland; and the names to note in Hong Kong are Daniel Dusek, David Patrick Eich, Gary Li , Nicholas Norris, David Zhang and Joey Chau.

Key clients

Showa Denko K.K.

Investor consortium comprising Warburg Pincus Asia LLC, General Atlantic Singapore Fund Pte. Ltd., Ocean Link Partners Limited, and Jinbo Yao, chairman of the board and chief executive officer of 58.com

A consortium of investors comprising PW Medtech Group Limited, CITIC Capital, Hillhouse Capital, Temasek and Marc Chan

iKang

Hammer Capital

TPV Technology Limited

An investor consortium led by Bizuo (Tony) Liu, the chief executive officer of Cellular Biomedicine Group Inc.

The founders of Topcast Aviation Supplies Company Limited

Cushman & Wakefield

Sea Limited

Nan Fung

Shougang Concord International Enterprises

Partners Group

Warburg Pincus

Bain Capital

Cartesian Capital Group

Hitachi, Ltd.

Hitachi Automotive Systems, Ltd.

Skyworth Group

L Catterton

Work highlights

  • Advised Showa Denko, a chemical company based in Japan, on its proposed tender offer to acquire Hitachi Chemical Company for $8.9bn.
  • Advised the investor consortium on the $8.7bn take-private of 58.com.
  • Advised the consortium of investors in the take-private of China Biologic Products Holdings.

Winston & Strawn LLP

Winston & Strawn LLP's China team is highly regarded for its experience in special purpose acquisition company transactions. The corporate team in China is particularly focused on the life sciences, IT, and retail and consumer products sectors. Shanghai office managing partner Brinton Scott has industry expertise in China-related insurance and healthcare matters; and international corporate securities and cross-border M&A expert, Simon Luk, chairs the firm's Asia practice from Hong Kong.

Practice head(s):

Brinton Scott; Simon Luk

Key clients

Chart Industries, Inc.

New Frontier Corporation

Diginex Limited

Koppers Holdings Inc.

Sanbase Corporation Limited

Aidigong Maternal & Child Health Limited

Sino Energy International Holdings Group Limited

Work highlights

  • Assisted Chart Industries, a NASDAQ-listed medical supply company, with the sale of an oxygen-related products business to Japanese-listed company, NGK Spark Plug Co.
  • Advised Diginex, a global blockchain financial services and technology company on a share exchange agreement with 8i Enterprises Acquisition Corp, a special purpose acquisition company.
  • Advised New Frontier Corporation, a special purpose acquisition company, on an agreement to acquire United Family Healthcare.

Baker Botts L.L.P.

Baker Botts L.L.P.'s corporate and M&A practice in China is led by Beijing-based Manuel (Bing) Maisog, who is experienced in the financial services, retail, technology, energy and natural resources, and life sciences and healthcare sectors. He also has notable expertise in China-related cross-border transactions, as well as data privacy and cybersecurity.

Practice head(s):

Manuel (Bing) Maisog

Cuatrecasas

The mainland China offices of Iberian law firm Cuatrecasas advise Spanish and Portuguese companies (and increasingly Latin American clients) on their investments in China. The practice also assists with Chinese investments in Spanish and Portuguese-speaking countries. Pablo Cubel is the Beijing corporate and M&A partner, while associate Yao Wang heads Shanghai's corporate practice. Former Shanghai head Omar Puertas relocated to the Barcelona office.

Practice head(s):

Yao Wang; Pablo Cubel

Key clients

SEAT

ISDIN

Wallbox

Lucta

Mondragon Assembly

Hospital Clínic de Barcelona

Kosmos Holdings

KPS Capital Partners, LP

Work highlights

  • Advises SEAT on its daily operations in China, including the contractual framework for the production, sale and distribution of automobiles.
  • Advises ISDIN on its daily operations in China; including in relation to regulatory, e-commerce, tax and compliance matters.
  • Advised Jinko Solar on selling a 51% stake in Novasol Invest La Isla, the developer of a 182.5 MW photovoltaic power plant in Spain.

Garrigues

Garrigues' China team acts for Spanish and foreign companies that commence business activities in the PRC, through joint ventures and wholly-owned foreign entities, among others. The practice also assists with outbound activities, including in relation to the Latin America market, where it is particularly expert in the infrastructure, energy and financial sectors. Manuel Torres Salazar is the experienced China partner in charge.

Practice head(s):

Manuel Torres Salazar

Key clients

Cecotec Innovaciones, S.L.

Sherpa Capital

Iberia

Alfil Logistics, S.A.

Puig, S.L.

Plasbox, S.L.

Fundación Tecnalia Research & Innovation

Soltec Energias Renovables, S.L.

RioHuan (Inner Mongolia) Solar Co., Ltd

Laboratorios Suavinex, S.A.U.

Aerox Advanced Polymers, S.L

Work highlights

  • Acted for Iberia, the Spanish airline company, on its operational activities in China.
  • Advised investment fund Sherpa Capital on the corporate and business restructuring of its operations in China.
  • Advised Cecotec Innovaciones, which develops electrical household appliances, on setting up a legal entity in China.

Latham & Watkins LLP

Latham & Watkins LLP's Greater China lawyers regularly act on significant outbound and inbound acquisitions; a key component of the M&A practice is its deal-related corporate governance expertise. Former long-serving Shanghai managing partner, Rowland Cheng, is highly regarded for significant M&A transactions. In Hong Kong, Simon Cooke is Asia private equity head, and Frank Sun 'gives clients practical and effective legal advice'.

Practice head(s):

Simon Cooke

Testimonials

The professional skills of the Latham team are impeccable, including in relation to our cross-border M&A deals.

The team gives various risk analyses to help us make business judgements, communication is smooth, and the quality of the work results is high.

The team has rich experience in corporate M&A and venture capital investment transactions; it also understands business logic and gives pragmatic legal advice.

Frank Sun has comprehensive legal knowledge, strong levels of professionalism and patience. He can provide legal consulting services in a timely manner, no matter where or when, and gives clients practical and effective legal advice that advances negotiations towards a successful deal.

Key clients

Vipshop Holdings Limited

TOTAL S.A.

Warburg Pincus Asia LLC

Tencent Holdings Limited

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

  • Advised a buyer consortium, led by Tencent and Hammer Capital, on Bitauto’s $1.1bn privatisation.
  • Advised Amgen on its $2.7bn acquisition of a 20.5% stake in BeiGene.
  • Advised Carlyle Asia Investment on the privatisation of Hong Kong-listed Asia Satellite Telecommunications.

Mayer Brown

Headed from Hong Kong by Hannah HaMayer Brown's full-service corporate and M&A practice assists with the entire lifecycle of a deal, from M&A planning and strategy, to transactional support and exits. Beijing managing partner Ian Lewis has significant experience in China-related commercial, real estate and hospitality matters.

Practice head(s):

Hannah Ha

Other key lawyers:

Ian Lewis; Sheng Wu

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

Work highlights

  • Advised SOCAM Development on the sale of a commercial building.
  • Advised AK Medical Holdings on a placing and subscription agreement.
  • Advised Germany’s DEG, an international development finance institution, on its investment inThe Thai Credit Retail Bank Public Company.

Milbank

Milbank’s China corporate and M&A practice handles cross-border deals across the South East Asia region, often with private equity components. Its recent corporate work spanned the energy, finance, telecoms, and travel and leisure sectors. In Beijing, Shepard Liu's practice covers M&A, projects and infrastructure, both in China and globally, while James Grandolfo heads the Hong Kong office.

Practice head(s):

James Grandolfo

Other key lawyers:

Shepard Liu

Key clients

Udenna Corporation

Metro Pacific Investments Corporation

GIC Private Limited

Converge Information and Communications Technology Solutions Inc.

Atlantic, Gulf and Pacific Company

Trustmark Holdings

Philippine Airlines Inc.

Work highlights

  • Advised Udenna Corporation on the establishment of its joint venture company with China Telecommunications Corporation.
  • Advised Metro Pacific Investments Corporation and Singapore Sovereign wealth fund, GIC Private, on the sale of interests in Metro Pacific Hospital Holdings, the Philippines’ largest hospital chain.
  • Advised Converge Information and Communications Technology Solutions on Warburg Pincus’ investment in a minority stake in the company.

Proskauer Rose LLP

Proskauer Rose LLP's M&A group is complemented by the firm's robust private equity and real estate practices, as well as the team's particular focus on the hospitality sector. Global co-chair of the hospitality, gaming and leisure group, Yuval Tal, and Ying Li, a cross-border transactions specialist, work across the Hong Kong and Beijing offices. Jeremy Leifer provides further key support from Hong Kong.

Practice head(s):

Yuval Tal; Ying Li; Jeremy Leifer

Key clients

Grifols S.A.

Accor – Huazhu

Accor – Tribe

Partners Group

Corsair Capital

Varde Partners

WiZ Connected

OCI Capital

Galaxy Entertainment Group

Work highlights

  • Advised Barcelona-based Grifols on its entry into a strategic alliance with Shanghai RAAS Blood Products Co.
  • Advised longstanding client Accor on its agreement to sell an approximately 5% stake in Huazhu Group for $451m.
  • Advised Partners Group on the disposal of a portfolio of public securities of a manufacturing company.

Ropes & Gray LLP

Ropes & Gray LLP's China practice is highly rated for its experience in technology sector transactions. Other industry areas of note are life sciences and healthcare. In Hong Kong, Asia M&A practice head James Lidbury is particularly focused on cross-border transactions that involve Greater China and the US.

Practice head(s):

James Lidbury

Other key lawyers:

Peng Yu

Testimonials

They have solid knowledge and field experts who are very responsive.

Key clients

Alibaba Group

NetEase

Baring Private Equity Asia

Siguler Guff

Bain Capital

MBK Partners

Yonghe Investments

Work highlights

  • Advised Baring Private Equity Asia on its investment in JD Health.
  • Advised NetEase, the China-based internet and video gaming company, on its fundraising for NetEase Cloud Music, one of China’s largest music streaming platforms.
  • Advised Alibaba Group on both its strategic partnership with Richemont and joint venture with YOOX Net-A-Porter Group.

Stephenson Harwood

Stephenson Harwood's corporate and M&A work includes private and public matters, greenfield joint ventures, general corporate and commercial work, and compliance issues. The practice works closely with its associated PRC law firm, Wei Tu Law Firm in Guangzhou, but closed its own Beijing office in 2020. Hong Kong's Paul Westover and Jane Ng are the principal contacts.

Practice head(s):

Paul Westover; Jane Ng

Testimonials

The team members are familiar with the investment paths of Chinese-funded enterprises and overseas investment projects, and provide constructive suggestions in relation to transaction structures and foreign investment risks.

They have strong language skills, and use simple and easy-to-understand language to explain complex structures and matters.

Key clients

China Development Bank Financial Leasing Co., Ltd.

SOCAM Development Limited

The joint provisional liquidators of CECEP COSTIN New Materials Group Limited

Work highlights

  • Acted for China Development Bank Financial Leasing Co on its wholly-owned subsidiary sale and purchase agreement, in relation to a vessel’s Hong Kong-incorporated holding company.
  • Acted for SOCAM Development on its disposal of a 58% shareholding in a Hong Kong-incorporated company.
  • Advising the joint provisional liquidators of CECEP COSTIN New Materials Group on a proposed acquisition of a real estate portfolio.

Sullivan & Cromwell

In addition to her Greater China corporate finance transactional experience, Sullivan & Cromwell's Beijing-based Gwen Wong has extensive M&A expertise. Wong advises on complex cross-border deals, public takeovers, privatisations, private sales and purchases, consortium bids and private equity investments and exits.

Other key lawyers:

Gwen Wong

Taylor Wessing LLP Beijing Representative Office

Taylor Wessing LLP Beijing Representative Office's practice advises on both foreign direct investment and overseas investments. Christoph Hezel is Beijing office chief representative; international China group head Michael-Florian Ranft works across the Munich, Shanghai and Beijing offices; China outbound group (Germany) head Qun Huang divides his time between Frankfurt, Shanghai and Beijing; and London's Robert Fenner heads the China Group (UK).

Other key lawyers:

Stella Yang; Michael Tan; Cara Meng

Key clients

ALBA Group

Deutz AG

CASIC (China Aerospace Science & Industry Corporation)

Midea Group

Shenzhen Goodix Technology

FC Bayern München

Recaro Group

CITIC DICASTAL

Sanhua Group

Netease

Haier

TP-Link Technologies Co. Ltd.

Zhongwang Group

China Tobacco Hubei Industrial LLC

CTrip

China Logistics

OFC Commercial Carpet Co., Ltd.

Hai Di Lao

Ross Video Ltd.

Work highlights

  • Advised Carl Cloos Schweißtechnik on its takeover by Estun Automation Technology Co and China Renaissance Capital Investments.
  • Advised on a joint venture project in China.
  • Advised OFC Commercial Carpet Co on the acquisition of a majority of shares in German company, ANKER Gebr. Schoeller GmbH + Co KG.