Corporate and M&A in Taiwan

Baker McKenzie

Advising Taiwanese and multinational investors, Baker McKenzie specialises in pharmaceutical and energy sector corporate and M&A matters, particularly clean energy work. The broad practice provides global expertise and reach to help solve the full range of foreign investment issues. M&A expert Michael Wong co-leads the team with Kevin Wang, who focuses on M&A and PE transactions. Other key names for the firm include Mark Tu, who handles cross-border transactions; and Gwyneth Gu, who advises on M&A, corporate, and securities matters.

Practice head(s):

Michael Wong; Kevin Wang

Other key lawyers:

Mark Tu; Gwyneth Gu

Key clients

Applied Materials, Inc.

TWi Pharmaceuticals Inc.

Answer Technology Co., Ltd.

Lite-On Technology Corp.

GlaxoSmithKline (GSK)

Nuvoton Technology Corporation

LINE Taiwan

Work highlights

  • Represented Nuvoton Technology Corporation as its special Taiwan counsel in its acquisition of Panasonic Corporation’s semiconductor business (including equity, assets, and relevant IP)
  • Act as counsel to TWi Pharmaceuticals Inc., a public company listed on the Taipei Stock Exchange (a) in response to the chairman taking the company private by way of tender offer followed by a statutory share exchange; and (b) to negotiate the terms of the mandatory share exchange agreement between TWi and the chairman’s investment company.
  • Advised GSK on Taiwan corporate matters (being a delayed market) as a result of the global closing in relation to GSK’s formation of a consumer healthcare JV with Pfizer.

Jones Day

Specialising in cross-border M&A, Jones Day is particularly strong in the areas of manufacturing and technology, with fortes in semi-conductor and AI-related work. The firm’s expertise covers hostile takeovers, domestic transactions, renewable energy, and corporate governance. The team is co-led by Tommy Chen, who is known for M&A and corporate governance matters; and John Lin, who advises on public, private, and cross-border M&A transactions. Also notable are Raymond Wang, who handles a range of M&A domestically and internationally; Jean Kuo, who focuses on cross-border transactions, antitrust, labour, and employment matters; and associate Peggy Lee, whose experience includes M&A, private equity, and general corporate governance.

Practice head(s):

Tommy Chen; John Lin

Other key lawyers:

Raymond Wang; Jean Kuo; Peggy Lee

Key clients

Yulon Group

Qisda Corporation

Fubon Financial Holding

Holy Stone Enterprise

Diodes Incorporated

Yungtay Engineering Co., Ltd.

Dyaco International Inc.

Taiwania Capital Management

World Gym

Work highlights

  • Advising Yulon Motor Co., Ltd. in forming a strategic alliance with Hon Hai Precision Industry Co., Ltd. in the electric automobile business valued at more than US$510m.
  • Advising the Special Committee of Diodes Incorporated in its take-private acquisition of Lite-On Semiconductor Corp. valued at more than US$430m.
  • Advised Qisda Corporation in its private placement investments in TopView Optronics Corp and Sysage Technology for an aggregate of US$63m.

Lee and Li, Attorneys-at-Law

Assisting clients in structuring and implementing a range of M&A, Lee and Li, Attorneys-at-Law’s expertise includes share exchange, asset acquisition, and group restructuring, as well as advising on public policy initiatives relating to M&A. The firm can draw from strengths in corporate investments, labour, tax, and securities issues to supplement its corporate practice. Eddie Chan co-leads the team with Grace Wang, who has experience in litigation and non-litigation financial legal matters. Other key names in the area are James Chen, who specialises in cross-border M&A transactions; Chao-Tung Chang, who focuses on corporate M&A, banking and capital markets; Ken-Ying Tseng, who advises on TMT related corporate matters; and senior associate Chi Lee, who handles cross-border mergers and investments.

Practice head(s):

Eddie Chan; Grace Wang

Key clients

Taiwan Rakuten Ichiba, Inc.

Macnica Chungju., Ltd.

Hitachi Ltd.

EnPro Industries, Inc.

CDIB Capital Asia Partners L.P.

Hannstar Board Corporation

Kioxia Corporation

Chia-chen International Pharmaceuticals, Inc.

Genlac Biotech Inc.

Work highlights

  • Advised Taiwan Rakuten Ichiba, Inc on the cross-border acquisition of a professional baseball team.
  • Advised Macnica Chungju., Ltd. on US$45m tender offer of a distributor of semiconductor components.
  • Advised Hitachi Ltd. on US$240m tender offer of a manufacturer of elevator.

K&L Gates

Advising on local and cross-border issues, K&L Gates covers the spectrum of corporate and M&A deals, including corporate, commercial, and venture capital transactions, as well as private equity fund investments. The firm has notable expertise in the areas of energy, infrastructure, manufacturing, and technology, acting for a range of clients from startups and mid-market players to large-cap companies and state-owned enterprises. Corporate and M&A expert Jacqueline Fu leads the team that includes James Chen, who specialises in the PRC market; and Billy Chen, who has experience in renewable energy and AI work.

Practice head(s):

Jacqueline Fu

Other key lawyers:

James Chen; Billy Chen; Owen Chio

Key clients

Swancor Holding Co., Ltd.

NEW GREEN POWER CO., LTD / J&V Energy

Pharmadax

Cloud Mile

Drive Catalyst SPC

Kneron Holding Corporation

Silicon Motion Technology Corporation

Work highlights

  • Represented NGP and J&V in their sale of 100% of the shares of a group of solar project entities that own 115MW solar power portfolio of assets comprising 14 projects throughout Taiwan, to a private fund established and managed by BlackRock Real Assets (an international funds manager which currently manages a US$5 billion global renewables investment platform).
  • Represented Swancor Holding Co., Ltd., a Taiwanese chemicals company, in connection with a sale of majority shares (approximately 95%) it held in Swancor Renewable Energy Co., Ltd., a leading offshore wind developer in Taiwan, to Stonepeak Oceanview (Cayman) Holdings Company.

LCS & Partners

Specialising in cross-border M&A and private equity transactions, LCS & Partners’ corporate practice is supported by strength in banking, finance, real estate, projects, dispute resolution, and capital markets. The firm is active in the pharmaceuticals and infrastructure areas, with expertise in inbound and outbound investment work, particularly related to China. The team is co-led by Victor Chang, who has extensive multijurisdictional transaction experience; Amy Chin, who handles M&A, capital markets, and equity; and Rich Lin, who is admitted to practice in Taiwan and the PRC and advises on securities, taxation, and M&A.

Practice head(s):

Victor Chang; Amy Chin; Rich Lin

Testimonials

‘The legal system in Taiwan is quite different from the ones in the States. LCS team is very good at bridging the gap’

‘Knowledgeable, solution-driven, very efficient and reachable’

Key clients

Quaser Machine Tools

Acbel Polytech

Applied Optoelectronics Inc.

Sea Limited

Bora Pharmaceutical Inc.

Work highlights

  • Represented Quaser Machine Tools, Faegre Braun represented the shareholders of Winbro Group.
  • Represented Acbel Polytech and assisted Acbel’s New York counsel in connection with a civil law suit in Massachusetts.
  • Acted as Taiwan counsel to Applied Optoelectronics Inc., the issuer. and coordinator of several non-US jurisdictions in connection with the offering.

Lin & Partners Attorneys-At-Law

Advising foreign and domestic clients, Lin & Partners Attorneys-At-Law specialises in corporate governance, shareholder rights issues, business structuring, and cross-border M&A. The team is co-led by Dr. George Lin, who assists global corporations with Taiwan corporate, commercial and M&A matters; David Lee, who focuses on international joint ventures, corporate restructuring, corporate compliance and governance; and Kaiju Lee, who has particular expertise in advising PRC and Hong Kong on incorporation and investments in Taiwan.

Practice head(s):

George Lin; David Lee; Kaiju Lee

Other key lawyers:

Franco Ho; Ted Liu

Key clients

Électricité de France S.A.

XDL Capital

Dr. Ing. h.c. F. Porsche AG

eBay Inc.

Franz Collection Ltd.

Mercedes-Benz Financial Services Taiwan Ltd.

Mercedes-Benz Insurance Services Taiwan Ltd.

Mercedes-Benz Leasing Taiwan Ltd.

More Fun House Ltd

Taoyuan Metro Corporation

Tsar & Tsai Law Firm

Tsar & Tsai Law Firm advises on corporate law and M&A-related matters for a range of domestic and international clients. The firm’s broad expertise includes deal structures, due diligence, preparation, and negotiations for transaction documents and implementing post-transaction corporate restructuring. Key names in the team are Jackie Lin, who represents corporate clients, private equity funds, and institutional investors in M&A projects in various industry sectors; and Janice Lin, who handles corporate financing, cross-border joint venture, and M&A transactions.

Other key lawyers:

Jackie Lin; Janice Lin; James Cheng; Lynn Lin

Testimonials

‘They can provide quick and appropriate professional services’

‘Jackie Lin often shares with us her prior experience in dealing with other cases so that we can have more samples to structure our deal’

Key clients

CMC Magnetics Corporation

Yageo Corporation

Showa Denko K.K.

Work highlights

  • Successfully assisting CMC Magnetics Corporation to complete the acquisition of “Verbatim” business from Mitsubishi Chemical Corporation, including the subsidiary’s shares, trademarks, patents, etc. The total acquisition price is approximately NTD1 billion.
  • Representing Yageo Corporation to successfully execute the Merger Agreement with Kemet Corporation, a U.S.-listed company, to acquire 100% of Kemet Corporation’s issued and outstanding shares. The total transaction price is approximately USD 1.64 billion.
  • Served as Taiwan legal counsel of Showa Denko K.K. for its acquisition of Hitachi Chemical Company, Ltd. for around USD 8 billion, and the deal has been closed in April 2020

Winkler Partners

Winkler Partners assists clients in structuring, negotiating, and executing a variety of transactions, notably mergers, acquisitions, and divestments. The firm also provides expertise in pre-merger filings, unfair competition concerns, and due diligence. Gregory Buxton focuses on M&A and private equity investments in China. He co-leads the team with Christine Chen, who specialises in general corporate work, including assisting clients with setting up Taiwan entities, compliance, and applying for foreign investment approval.

Practice head(s):

Gregory Buxton; Christine Chen

Work highlights

  • Assisting a Malaysian energy company with their investment in a Taiwan offshore wind project worth TWD4bn (US$135m), including establishing a branch, applying for licenses, and other related assistance.
  • Helped a fitness brand client close US$20m in total venture funding to expand its brand in Taiwan and China.
  • Assisted a publicly listed French industrial conglomerate evaluate a restructuring which would give it controlling interest in a Taiwan-listed entity.

Chien Yeh Law Offices

The M&A and corporate practice of Chien Yeh Law Offices focuses on advising domestic and foreign companies on share and asset acquisitions in Taiwan and abroad. The firm has particular expertise in hedge fund, private equity, and management buyout matters, as well as equity-related litigation and restructuring. Justin Chen leads the team that includes Akira Lin, who specialises in advising Japanese businesses with local investment, M&A, corporate legal matters, and labour disputes.

Practice head(s):

Justin Chen

Other key lawyers:

Akira Lin

Work highlights

  • Assisted Nihon Yamamura Glass Co., Ltd. with establishing a joint venture with KINIK COMPANY, including providing comprehensive advice, negotiating terms and condition of transaction, and preparing transaction documents.

DTT Attorneys-At-Law

Experienced in cross-border transactions, DTT Attorneys-At-Law advises on commercial law, compliance, and a range of M&A. The firm also provides expertise in employment and innovative tech issues. The team is co-led by Robin Lin, who handles administrative litigation, tax controversy, and general corporate matters; Ingrid Chen, who focuses on corporate investment, M&A and capital markets; IP specialist Sungmei Hsiung, who joined in 2019 from the Intellectual Property Court; associate Hsienwei Chang, who advises on administrative laws; and associate Show Chen, whose experience includes corporate law, M&A, contracts and joint venture reviews.

Testimonials

‘Actively participated in the project and gave advice’

‘Have a good reputation’

‘Qualities we valued in them are effectiveness, correctness and effective advice’

‘Ingrid Chen and Joan Yu are good’

Key clients

BizLink Holding Inc

Evermore Chemical Industry Co., Ltd.

Ingenico Group SA

Papago Inc.

Presicarre Corporation

Shin Wu Machinery Trading Co., Ltd

Taichung Commercial Bank Co., Ltd.

UP Scientech Materials Corp.

Work highlights

  • Assisted Presicarre Corporation in legal due diligence on Wellcome Taiwan covering more than 200 stores and review of the share purchase agreement.
  • Advised Ingenico Group SA on group restructuring, feasibility analysis and transactional documents preparation.
  • Assisted BizLink Holding Inc. in liaison with local counsels on legal due diligence on a Singaporean company along with its Malaysian subsidiary, negotiation and review of transactional documents, and completion of closing via video conference due to the COVID-19 lockdown.

Eiger

Acting primarily for multinationals, Eiger has experience advising on corporate investment, M&A, and shareholder issues in Taiwan. The firm is active in the energy, technology, and shipping sectors, as well as providing a particular specialism in representing clients and law firms from German-speaking countries. John Eastwood has expertise in corporate and M&A work related to the Greater China area. He co-leads the team with Heather Hsiao, who focuses on M&A in the entertainment, energy, and telecommunications industries.

Practice head(s):

John Eastwood; Heather Hsiao

Key clients

King & Spalding (Atlanta) LLP

UPS

Work highlights

  • Advised on corporate and M&A matters in relation to UPS’s acquisition of entities in Taiwan; also corporate maintenance work for UPS entities in Taiwan.

Formosan Brothers Attorneys at Law

Post-M&A employment issues are where Formosan Brothers Attorneys at Law stands out, but the firm also provides a broad experience that includes construction law, public procurement, competition laws, energy, and corporate disputes. The team is co-led by Yvonne Lin, who handles general corporate matters, as well as litigation; arbitration expert Lipu Lee, who has expertise in transnational mergers and acquisitions; Chiu-Hua Chen, who advises on a range of domestic and foreign investments and transactions; and Jessie Lee, who is a registered arbitrator with the Chinese Arbitration Association and a registered patent attorney with the Taiwan Patent Attorney Association.

Guo Ju Law Firm

Guo Ju Law Firm is experienced in assisting domestic and international clients with investment structures and preparing corresponding documents relating to M&A and general corporate issues. The firm has particular strength in advising on China-Taiwan investment matters, whether it’s advising Chinese companies on investing locally or vice versa. Alex Hsin leads the team and is licensed to practice in China and Taiwan.

Practice head(s):

Alex Hsin

Other key lawyers:

Jill Hsu; Willy Wang

Testimonials

‘The most important strengths of the team is that they really know how the market functions and what the entrepreneur values most in practice’

‘Their advice is thorough, not only from the legal point of view but also from finance, tax and various aspects of expertise’

‘Alex Hsin and Willy Wang react fast and professionally and always offer economical and practical resolutions’

Key clients

Georg Jensen

Hainan Airlines Co., Ltd.

SHINTAO NATURAL GAS

LG Display

SONY

YAHOO

Topco Scientific Co. Ltd

SOFTSTAR ENTERTAINMENT INC.

Advanced Lithium Electrochemistry (KY) Co. , Ltd.

Amazing Microelectronic Corp.

Team Group Inc

ECCO Taiwan

YUDEN-TECH CO.,LTD

Corporate Synergy Development Center

Innovatus Law

The ‘energetic, flexible, and strategicInnovatus Law provides expertise in cross-border M&A, foreign investments in Taiwan, joint venture formations, and corporate advice. The firm has ‘legal professionals with experience of corporate governance, IP and general practices', as well as the more niche areas of cryptocurrency compliance and international film and entertainment co-production financing. Chia-heng Seetoo focuses on capital markets, M&A, general corporate matters, and transactional advice. He co-leads the team with Marine Yang, who is known for capital markets, financial regulatory works, financing transactions, and M&A.

Practice head(s):

Chia-heng Seetoo; Marine Yang

Other key lawyers:

Eve Tsai; Derek Sun

Testimonials

‘The team members are young and energetic, professional and well-trained’

‘Able to work long hours and deliver exceptional results in a short period of time’

‘Derek Sun is a legal counsel that thinks outside the box’

‘Our firm had the privilege of working with the Innovatus team on two separate occasions. Their responses are always prompt and able to meet tight project timelines’

‘We particularly enjoyed working with Chia-Heng Seetoo and Eve Tsai’

‘The legal team at Innovatus Law are approachable, competent, and efficient. We have had a very good experience with the entire team’

‘Marine Yang understands the law and provides her clients with viable options.  She stands out because she is calm, direct, and efficient’

‘Prompt response for law and regulation updates across different jurisdiction’

‘Providing insightful feedback from both legal perspective and its potential business implication for the client to have a more comprehensive decision-making process’

‘Professionalism, high standard of integrity and prompt response for time-sensitive matters’

Key clients

Ampere Computing

Artilux Corporation

Clinico, Inc.

Farglory Life Insurance Co., Ltd. / Farglory Group

FriendTimes, Inc.

United Overseas Bank, Taipei Branch

Yuanta Securities Co., Ltd.

Yummy Town (Cayman) Holdings Corporation

Work highlights

  • Acted as Oracle’s Taiwan counsel in MACOM Technology Solutions Holdings, Inc.’s sale of its Compute business it acquired in its AppliedMicro acquisition in 2017, to Project Denver Holdings LLC (NewCo), a new company backed by The Carlyle Group and later renamed Ampere Computing.
  • Advised Artilux Corporation, an emerging optical sensor IC design firm based in Hsinchu, with respect to its US$12.5m Series A-1 and Series A-2 financing, led by renowned venture capital funds and domestic public companies, through 2017 to 2019.
  • Advised FriendTimes Inc. as Taiwanese counsel in relation to FriendTimes’s Hong Kong IPO, issuing legal opinion addressing the legality of FriendTimes’s mobile games distribution in Taiwan.

Lexcel Partners

Lexcel Partners advises on corporate mergers, share purchases, de-mergers, and joint ventures, as well as asset, business, and employee transfers. Another area of strength is filings with the Fair Trade Commission for merger cases. Mike Lu leads the team and focuses on corporate, M&A, asset management, securities, and cross-border transactions. Also notable is Echo Yeh, whose expertise includes financial regulatory, corporate governance, labour, and investment matters.

Practice head(s):

Mike Lu

Other key lawyers:

Echo Yeh; Sue Su

Key clients

Amundi

China Life

UBS

Citi

HSBC