White & Case LLP > Beijing, China > Firm Profile

White & Case LLP
19th Floor, Tower 1 of China Central Place
81 Jianguo Lu, Chaoyang District
Beijing Shi 100025
China

China > Banking and finance: foreign firms Tier 2

Playing significant roles in regional cross-border deals involving major international players, White & Case LLP‘s China banking and finance team is widely regarded as a go-to practice for debt finance transactions in Asia. Executive partner of the Beijing office, David Li, is highly rated by the Greater China market for major financing mandates. Shanghai-based senior consultant Frank Shu regularly advises on the financing of privatisations of Chinese companies and large-scale cross-border property acquisition and financing transactions. The principal figures to note in Hong Kong are Eugene Man, who heads the Asia-Pacific debt finance and restructuring practices; and Baldwin Cheng, whose recent experience includes major pan-Asian financings for both sponsors and debt financiers. In November 2020, the firm expanded its global debt finance practice through the hire of Hong Kong partner Daniel Abercromby from Weil, Gotshal & Manges LLP.

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Testimonials

Very commercial, with great market knowledge and attention to detail.

Strength in depth – excellent partners and strong associates.

Very commercial. They focus on getting the deal done, and not on irrelevant negotiations.

Very much a safe pair of hands with excellent technical skills and product knowledge – also commercial and responsive.

Eugene Man is extremely professional, yet equally client focused, creative and problem-solving oriented.

Eugene Man is very responsive, very commercial, and builds strong client relationships – also gets fully involved in deals.

Key clients

China CITIC International Bank

CITIC Capital (renamed as Trustar Capital)

China Minsheng Banking Corp

Deutsche Bank

Credit Suisse

Morgan Stanley

Work highlights

  • Advised CITIC Capital (renamed as Trustar Capital), the private equity and alternative investment arm of Chinese conglomerate CITIC Group, on the financing surrounding its $770m acquisition of most of the assets of GNC Holdings through its portfolio company, Harbin Pharmaceutical Group.
  • Advised China CITIC International Bank (and the syndicate banks) on the amendment and extension of a $1bn mezzanine facility for an Australian subsidiary of Tianqi Lithium Corporation, which involved restructuring proposals.
  • Advised Logan Group Company on term loan facilities.

China > Corporate and M&A: foreign firms Tier 2

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

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Testimonials

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

Key clients

Nestlé S.A. / Nestlé Waters

Magna International Inc.

Schneider Electric Foundries LLC

China Molybdenum Co., Ltd.

Huhtamaki Oyj

EOG Resources, Inc.

Sony Corporation of America

Takeda Pharmaceutical Company Limited

Duke Street Capital Limited

GlobalWafers Co., Ltd

Special Committee of Cellular Biomedicine Group, Inc.

NetEase, Inc.

BVCF Management Ltd.

Goldman Sachs

CMC Capital

Novasep Holding SAS

SIBUR Holding

Work highlights

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

China > Projects and energy: foreign firms Tier 2

‘Experienced in working with both SOEs and international financial institutions’, White & Case LLP is particularly effective advising on inbound and outbound infastructure and energy mandates, from a project finance perspective. Beijing-based team head David Li is ‘excellent at converting business/commercial points into legal language’, and excels in advising on syndicated project financing transactions involving many different lending entities. As well as his aptitude in relation to commercial/investment bank financings, Li is also well-versed in advising on single and multi-sourced infrastructure and project development financings in jurisdictions throughout Asia Pacific and Africa.

Practice head(s):

Testimonials

The team is experienced in working with both SOEs and international financial institutions. The lawyers have a deep understanding of the energy industry and regional market.’

The team is able to provide effective legal opinions and easy to understand explanations.’

Information is very effectively shared between offices.’

‘David Li is excellent at converting business/commercial points into legal language. He can communicate well with all stakeholders and provide solutions when negotiations are tense.’

Key clients

Saudi Arabian Oil Company (Saudi Aramco)

China Molybdenum (CMOC)

Asian Development Bank (ADB)

Sempra Energy

SIBUR Holding

International Finance Corporation (IFC)

United Energy Group

Work highlights

  • Advised the financiers on a landmark $20bn project financing of Mozambique’s first onshore LNG development, Mozambique LNG.
  • Advised SIBUR Holding, Russia’s leading petrochemicals company, on the disposal of a minority interest in Amur Gas Chemical Complex to China Petroleum & Chemical Corporation (Sinopec).
  • Advised Sempra Energy on the sale of its equity interests in its Chilean businesses to State Grid International Development Limited (SGID), and on the sale of its equity interests in its Peruvian businessesto China Yangtze Power International (Hong Kong) Co., Limited.

China > Regulatory/compliance: foreign firms Tier 2

White & Case LLP  acts for multinational clients with operations in China and Chinese clients with operations abroad on their operations and business practice in the trade-related developments. The team is particularly well-positioned to conduct parallel investigation proceedings, in response to regulatory authority inquiries that involve cross-border contexts. Beijing-based practice head Bingna Guo is regularly instructed to handle anti-corruption, fraud, embezzlement, conflicts of interest investigations, and compliance risk assessment. Hong Kong-based James Hsiao who joined from Sidley Austin in 2020 and senior associate Mark Chu are further names to note.

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Key clients

CMC Capital Partners

Boyu Capital

CareCapital Partners

Audit Committee of Hebron Technology

Hillhouse Capital

Shenzhen Mindray Bio-Medical Electronics

Work highlights

  • Represented the audit committee of Hebron Technology on an internal investigation regarding allegations of undisclosed related party transactions.
  • Advised Shenzhen Mindray on the global assessment and update of its compliance and internal controls.

China > Private equity: foreign firms Tier 3

Advising private equity investors and target companies in Greater China and Asia on complex transactions, White & Case LLP‘s team recently experienced growth in pharmaceutical and healthcare-related work, particularly where related to biotechnology and digital health; and it is also active in matters involving AI technology, real estate and renewable energy. Based in both Beijing and Shanghai, China practice head Alex Zhang possesses  solid transactional experience in M&A transactions involving the Asia-Pacific region, Europe and the US; Hong Kong’s Asia private equity head Daniel Yeh is also noted.

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Testimonials

The firm has been expanding its capacity and capabilities to become a full service firm for PE clients, including building up its debt financing capabilities.

Alex Zhang is without question one of the best deal lawyers on this planet, and certainly in China. He has developed a transaction team that also reflects his superb commercial sense in getting a transaction completed, be it financing for our portfolio companies (many of which retain him after the transaction), or in completing a merger/acquisition deal.

Alex Zhang is efficient, provides invaluable counsel and has tremendous commercial sense, which is invaluable towards achieving the goal of successfully closing a transaction.

In my 16 years in China, there is not another corporate lawyer that comes close to Alex Zhang in ability and/or stature in the industry. He is a superb negotiator and counsel.

Our firm has worked with Daniel Yeh for years, who has been very pragmatic and effective in resolving issues.

Paul Tang is detail-oriented and very knowledgeable about China-related issues.

Key clients

CIC Capital

NetEase

Hillhouse Capital

BVCF Management

Goldman Sachs

CMC Capital

CR-CP Fund

Work highlights

  • Advised CIC Capital Corporation, as deal and regulatory counsel, on its co-investment in the $200m Series A financing of Esco Lifesciences Group.
  • Advised NetEase on its equity investment in AIVA Technologies, a company that designs and develops AIVA, an artificial intelligence music composer.

China > Dispute resolution: Litigation: foreign firms Tier 4

Co-led by Hong Kong-based Melody Chan and Bingna Guo who splits her time between Beijing and Shanghai, White & Case LLP  demonstrates its expertise in contentious matters, as well as advising on transaction-related disputes. The team has established a highly regarded practice representing Chinese banks and financial institutions on contentious debt recovery and restructurings. Demonstrating this, it recently successfully represented Chinese lenders recovering loans made to the troubled Reliance Communications group, one of the largest conglomerates in India. Complementing its litigation practice, the broader dispute resolution team also regularly handles international arbitration, white collar and regulatory matters, and governmental investigations in China. Its recent caseload also features inbound and outbound cases arising from corporate and finance transactions.

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Testimonials

‘Excellent in compliance business.’

‘ Bingna Guo is able to provide service with excellent experience and timely feedback.’

Key clients

Anker Innovations

China Cinda (HK) Asset Management

China Development Bank

China Exim Bank

Ernst & Young Transactions

EY Cayman

Feilong Nonwoven Machinery

Industrial and Commercial Bank of China

Work highlights

  • Represented China Cinda on the enforcement of transaction documents made under a loan financing to Hong Kong-based Linca Industry Holdings Company.
  • Represented China Development Bank, China Exim Bank and Industrial and Commercial Bank of China on a payment default under certain existing facility agreements.
  • Represented Ernst & Young Transactions Limited and EY Cayman Ltd in the discharge of their duties as liquidators.
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