Corporate and M&A in Taiwan

Baker McKenzie

Baker McKenzie has a large full-service corporate practice, well-equipped to deal with complex multinational transactions. The team has extensive experience in inbound and outbound investments, M&A, reorganizations and divestitures, financing transactions, joint ventures and strategic alliances, and other business combinations involving publicly-listed and private companies. In addition, the practice group benefits from the office's strong private equity, tax and securities practices. The team is jointly headed by Michael Wong, who specialises in cross-border commercial transactions and joint ventures, and Kevin Wang, who is regularly involved in complex corporate transactions. Mark Tu and Gwyneth Gu are also noted.

Practice head(s):

Michael Wong; Kevin Wang

Other key lawyers:

Mark Tu; Gwyneth Gu

Key clients

Google LLC

Eastern Media Int’l Corp.

Advanced Semiconductor Engineering

JSR Corporation

Medtronic Inc.

LCY Chemical Corp.

Itochu Corp.

KHL Capital

Larry Kung of Leyou Inc.

Work highlights

  • Acted as special tax counsel to Google in its acquisition of HTC and advised on tax structuring issues together in collaboration with US and UK colleagues.
  • Represented Eastern Media in the sale of its shares in Eastern Broadcasting Corporation (the largest television network in Taiwan) to Mao Te International Investment Co., as owned by Taiwan property developer Chang Kao-Shiang.
  • Advised Advanced Semiconductor Engineering Inc. (ASE), the Taiwan Stock Exchange and NYSE listed semiconductor manufacturer, on its 100% joint share exchange transaction with Siliconware Precision Industries Co., Ltd. (SPIL), its domestic counterpart, to form a holding company.
  • Represented JSR Corporation, a petrochemicals company, in a bidding process to acquire a TPEx listed Cayman company and its entire group via a reverse merger.
  • Advised Medtronic China Venture Fund (Cayman), L.P. on its investment in Gimer Medical Co., Ltd.

Jones Day

Jones Day's firm-wide global capabilities underlies the Taipei group's strong focus on cross-border transactions. The team regularly handles complex cross-border M&A, corporate governance issues, hostile takeovers and take-private transactions, and also assists with the coordination of international and local counsel. The team has broad experience across key economic industry sectors in Taiwan and those that are often highly regulated, including consumer goods, technology, semiconductors, pharmaceuticals, and financial services. Tommy Chen and John Lin jointly lead the team. Other key contacts include Raymond Wang, Jean Kuo, who has extensive experience assisting Japanese clients in their Taiwan and Greater China investments, and James Liang, who focuses on large-scale public and cross-border M&A.

Practice head(s):

Tommy Chen; John Lin

Other key lawyers:

Raymond Wang; Jean Kuo; James Liang

Key clients

Siliconware Precision Industries

Kingpak Technology Inc.

Fubon Financial Holding

Yulon Group

General Plastic Industrial Co., Ltd.

Taiwan Semiconductor Manufacturing Co., Ltd.

Holy Stone Enterprise

Thunder Tiger Corp.

Yungtay Engineering Co., Ltd.

Qisda Corporation

Work highlights

  • Represented Siliconware Precision Industries in its defence against two unsolicited tender offer attempts, then continued to advise SPIL in the negotiation and execution of a Joint Share Swap Agreement to jointly establish a new multi-billion-dollar “industrial holding company” (“New HoldCo”) by two simultaneous share swaps.
  • Advised General Plastics Industrial on its acquisition of Katun Corporation.
  • Advised Mercuries and Associates Holding on the sale of minority shares of Simple Mart Retail Co., Ltd. to Sumitomo Corporation.
  • Assisted Taiwan Mask Corporation, a semiconductor company, with the acquisition of majority shares in Weida Hi-Tech Co., Ltd. from multiple individual shareholders.
  • Advised Chroma ATE Inc., a supplier in electronic test measurement equipment and systems on its acquisition of aggregately 20.5% shareholding in Camtek Ltd. from Priortech Ltd. and Camtek, respectively, for $74m in cash.

Tsar & Tsai Law Firm

Tsar & Tsai Law Firm provides a full slate of M&A services, including incorporations, joint ventures, reorganizations, dissolutions, M&A, syndication loan documentation, post closing restructurings, and tax planning. Jackie Lin recently led a $525m deal that saw Kongsberg Gruppen complete its acquisition of the Rolls-Royce Commercial Marine. Other names to note are James ChengJanice Lin, who is particularly experienced acting for international clients, and Lynn Lin, who has a good deal of experience in the technology and manufacturing sectors.

Testimonials

Jackie Lin is exceptional and has a wealth of knowledge

Excellent service

‘Build strong relationships with clients’

Key clients

KONGSBERG Gruppen ASA

Taobao

Ennoconn International Investment Co., Ltd.

E Ink Holdings Inc.

HTC

KKR

Microlife Corporation

Carl Zeiss Co., Ltd Taiwan

Work highlights

  • Assisted Kongsberg Gruppen ASAwith the completion of its acquisition of the Rolls-Royce Commercial Marine.
  • Assisted Taobao with the necessary approval to invest in Taiwan.
  • Assisted Ennoconn International Investment Co., Ltd., the subsidiary of Ennoconn Corporation (an industrial computer manufacturing arm of Hon Hai Precision Industry Co), with the acquisition of 47.15% stake of the semiconductor equipment supplier Marketech International Corp through tender offer.
  • Assisted E Ink, a manufacturer of electronic paper, to, through its wholly-owned investment company, enter into an agreement with SES-imagotag, a société anonyme organized under the laws of France and listed on the Euronext Paris stock exchange
  • Assisted KKR, an investment company, in its proposed acquisition of Hyperion, a leading manufacturer of industrial tool components, from Sandvik group.

K&L Gates

K&L Gates has substantial experience in cross-border M&A, and is able to assist companies with accessing public and private funding in international markets by leveraging its worldwide office network. The team focuses on middle market activity across the energy, infrastructure and resources; industrial and manufacturing; health care; and life sciences and pharmaceuticals sectors. Practice head Jacqueline Fu has extensive experience advising multinational corporations on acquiring Taiwan public and private companies that have a presence in the PRC. Other key contacts include Billy Chen and James Chen, who also has considerable cross-Strait experience.

Practice head(s):

Jacqueline Fu

Other key lawyers:

James Chen; Billy Chen

Testimonials

Solid legal background with commercial sense’

Key clients

II-VI Incorporated

Mirae Assets Management

ACT Genomics

Swancor Renewable Energy Group

J&V Energy Technology

Cloud Mile Inc

Far Eastone Telecommunications Co., Ltd.

IQE plc

Pharmadax Inc

Work highlights

  • Represented II-VI Incorporated in acquiring Coadna Holdings, a Cayman holding company listed on the Taiwan Stock Exchange.
  • Advised the Swancor Renewable Energy Group, which has been engaging in the Taiwan offshore wind power business since 2013, on the sale of majority shares of Formosa II International Investment that operates the Formosa II (blocks 5 and 6 near Miaoli County) offshore wind project and has joint developments with the Macquarie Group.
  • Advised Cloud Mile Inc, a cloud service provider, on attaining co-investment by a group of investors including Fullerton Technology, Chaintech, Wenetgroup, and Substance Capital through a new shares issuance.
  • Advised J&V Energy Technology on the sale of Shao Young Co., Ltd. that has 28 solar power plants in Taiwan with a total of around 70MW to Blackrock Real Assets.
  • Advised IQE plc, the global leader in the design and manufacture of advanced semiconductor wafer products, on its acquisition of IQE Taiwan and other general corporate matters.

Lee and Li, Attorneys-at-Law

Lee and Li, Attorneys-at-Law represents both domestic and international clients in a range of corporate and investment work, including mergers and acquisitions for both financial and other institutions. Clients include foreign and domestic banks, investment banks, securities companies, insurance companies, securities investment trust companies, securities investment consulting companies and other financial institutions, as well as central and local government departments at all levels.

Lexcel Partners

Lexcel Partners' advises on a range of transactional and advisory corporate matters, and is routinely involved in numerous domestic and international deals. The team is headed by managing partner Mike Lu, and also includes Echo Yeh, who also has experience in financial regulatory matters, corporate governance and competition law, and Sue Su, who has expertise in corporate finance and cross-border investment.

Practice head(s):

Mike Lu

Other key lawyers:

Echo Yeh; Sue Su

Key clients

Amundi

China Life

UBS

Citi

HSBC

Work highlights

  • Assisted with the merger of Amundi Taiwan Limited (SICE) into Mirae Asset Management (the name changed to Amundi Taiwan Limited (SITE)).
  • Conducted due diligence for a deal on behalf of Galemed Cayman, a manufacturer of respiratory care products.
  • Assisted Weidmüller Investment GmbH with the acquisition of a 17.5% stake in the ORing Industrial Networking Corporation.
  • Assisted LITE-ON Technology Corporation in a tender offer to acquire all the outstanding shares in Lite-On Japan Ltd.
  • Assisted Commonwealth Bank of Australia (CBA) with an agreement to sell its global asset management business, Colonial First State Global Asset Management (CFSGAM) (including all business operation and product distribution channels in Taiwan) to Mitsubishi UFJ Trust and Banking Corporation (MUTB).

Lin & Partners Attorneys-At-Law

Lin & Partners Attorneys-At-Law focuses its M&A practice on businesses in sectors that face regulatory challenges, such as blockchain, cryptocurrency, fintech, and the sharing economy. The team regularly advises on corporate governance, shareholder rights, business structuring in reorganisations, hostile and friendly acquisitions of public companies, tender offers, and Taiwan's inbound investment process, with a particular strength in inbound investment from the PRC. George Lin and David Lee jointly lead the team, while Kaiju Lee, who handles international and PRC investment matters, is also recommended.

Practice head(s):

George Lin; David Lee

Other key lawyers:

Kaiju Lee

Testimonials

A dynamic team that punches well above their weight

Key clients

Mercedes-Benz Taiwan Ltd.

Mercedes-Benz Financial Services Taiwan Ltd.

Mercedes-Benz Insurance Services Taiwan Ltd.

Mercedes-Benz Leasing Taiwan Ltd.

Daimler Trucks Asia Limited

PayPal Pte. Ltd.

eBay, Inc.

TaskUs, Inc.

Electricite de France S.A.

Taiwan Power Corporation

Taiwan Green Power Co., Ltd.

Taiwan International Ports Corporation

Ju Fu Fashion Development Corp.

Work highlights

  • Legal counsel to Mercedes Benz Taiwan.
  • Legal counsel to Electricite de France.
  • Legal advisor to TaskUs, inc., an outsourcing service company.
  • Advised Taiwan Power Corporation on its proposed division into a holding company and several subsidiaries.
  • General counsel to Taiwan International Ports Corporation in its formation of a holding company and a joint venture.

Winkler Partners

Winkler Partners’ transactional team supports clients in structuring, negotiating, and executing a broad range of transactions including M&A and divestments involving businesses and assets in Taiwan. Other services include pre-merger filings and unfair competition concerns, due diligence efforts (including anti-corruption related inquiries), and general transaction structuring and execution. In addition, the team provides ongoing counsel to foreign investors after transaction close. Practice head Gregory Buxton focuses on M&A and private equity investments in Greater China.

Practice head(s):

Gregory Buxton

Testimonials

Gregory Buxton is exceptional counsel and highly sensitive to meeting client budget concerns’

Work highlights

  • Assisted a growing fitness brand to extend its Series B funding round to reach a total raise of $11m.
  • Represented Taiwanese financial institution in connection with matters related to its participation in the Lehman Brothers bankruptcy claims in the Southern District of New York.
  • Planned and effected corporate restructuring of international commercial shipping services provider, including cross-border sales of assets and entities, all in preparation for first institutional financing round expected to raise at least $4m.
  • Providing ongoing Taiwan transactional support to a point-of-sale systems provider in connection with their proposed listing on the Stock Exchange of Hong Kong.
  • Closed the sale of over eighty Taiwan retail pharmacy locations by a Manila-based international pharmaceutical distributor.

Chien Yeh Law Offices

Chien Yeh Law Offices acts for domestic and international clients in share and asset acquisitions in Taiwan, and has a particularly strong reputation for advising Japanese clients. The team has experience in a range of transactional matters including restructuring, and hedge fund and private equity deals, and also handles related contentious issues such as equity-related litigation. Expert litigator Justin Chen heads the practice group, and Akira Lin focuses on advising Japanese businesses on investments, M&A, and labour disputes.

Practice head(s):

Justin Chen

Other key lawyers:

Akira Lin

Key clients

Nihon Yamamura Glass Co., Ltd.

Work highlights

  • Assisted Nihon Yamamura Glass with establishing a joint venture with Kinik Company.

DTT Attorneys-At-Law

Acting in cooperation with Deloitte Taiwan, DTT Attorneys-At-Law provides an integrated one-stop consultation service to clients involved in cross-border transactions. Key areas of its practice are commercial law, compliance, and M&A and capital market consultation. The practice group has advised on a variety of transaction documents involving corporate investment, reorganization, tender offers and privatization procedures. Key figures include Robin Lin, Ingrid Chen (who made partner in 2019 and is the key contact for investment and corporate M&A), Hsienwei Chang, and Show Chen.

Key clients

Faurecia Automotive Holdings

Global Tek Fabrication Co., Ltd.

Health Ever Bio-Tech Co., Ltd.

HO TAI INSURANCE BROKER CO., LTD

Hsin Tai Gas Co., Ltd.

IntelliCentrics Global Holdings Ltd.

National Development Fund, Executive Yuan

Shin Wu Machinery Trading Co., Ltd.

Shin Kong Financial Holding Co., Ltd.

Shin Kong Life Insurance Co., Ltd.

TA YA Green Energy Technology Co.,Ltd.

Taiming Assurance Broker Co. ,Ltd.

Taichung Commercial Bank Co., Ltd.

Tonic Fitness Technology, Inc.

Union Bank of Taiwan

Waterland Financial Holdings

Yamaha Motor Co., Ltd.

Work highlights

  • Assissted Faurecia Automotive Holdings in legal due diligence before acquiring an 80% share of CovaTech, a Hong Kong holding company.
  • Assisted Global Tek Fabrication, a precision machined components manufacturor, with an outbound investment in a Malaysian company, Allied Advantage Sdn. Bhd.
  • Assisted Health Ever Bio-Tech Co. with delisting and reorganisation.
  • Helped Ho Tai Insurance Broker Co., Ltd to acquire the new version (2017) certification of the BS 20012 to replace the previous version (2009).
  • Assisted IntelliCentrics Global Holdings Ltd. with its reorganization and pre-IPO investment.

Eiger

John Eastwood and Heather Hsiao head the corporate team at Eiger, which is recognised for its track record of acting for European and American multinationals. Its corporate and M&A group is fully integrated with the firm's tax, employment and compliance teams, contributing to a full-service practice, which has particular expertise in outbound investment and shareholder disputes. Other names to note include Holly Chu, who is experienced in corporate litigation and hostile takeovers, and associate Nathan Snyder, who has experience acting for startups.

Practice head(s):

John Eastwood; Heather Hsiao

Other key lawyers:

Holly Chu; Nathan Snyder

Work highlights

  • Performed due-diligence for a medical supply chain company’s acquisition of a Taiwan company specialized in medical/clinical logistics.
  • Advised on shares purchase of a Taiwan company for a European-based worldwide credit investigation company.
  • Assisted a European wind energy company in price adjustment related issues of a share purchase of a Taiwan company.
  • Assisted with setup of a joint venture and analysis of shareholder agreements for an entity created to manufacture hi-tech fabrics.
  • Advised a photography company on purchasing shares in a Taiwan company.

Formosan Brothers Attorneys at Law

Formosan Brothers Attorneys at Law has a particular niche in M&A for construction and technology companies. The practice handles incorporation; mandates, capitalisation and financing transactions, takeover strategies, joint ventures, reorganisation, and liquidation. In addition to acting for domestic clients, the team acts for international companies based in Japan and the United States. Names to note include managing partner and investment and franchising expert Lipu Lee, and Teresa Pan, who leads the Japan desk and is experienced in foreign investment into Taiwan.

Other key lawyers:

Lipu Lee; Teresa Pan

Work highlights

  • Negotiated acquiring legal control of a vendor through share purchase for a wireless antenna maker.
  • Assisted with a merger between a Singaporean and a Chinese company.
  • Represented a technology company in a dispute over the chairman’s control of the company.
  • Assisted a semiconductor company with establishing an R&D centre in Taiwan.
  • Assisted a solar panel producer with corporate restructuring.

Guo Ju Law Firm

Guo Ju Law Firm provides corporate and commercial services to domestic companies. The team is experienced in TMT work and has a particular strength in cross-Strait investment. Alex Hsin, who is qualified in both Taiwan and China, leads the team.

Practice head(s):

Alex Hsin

Key clients

CHC Healthcare Group

Topco Scientific Co. Ltd

Leica