Skadden, Arps, Slate, Meagher & Flom Hong Kong partners Julie Gao, Christopher Betts and Will Cai are advising Chinese e-commerce site Meituan Dianping on a proposed $4 billion listing on the Hong Kong Stock Exchange. Han Kun Law Offices Hong Kong partner Dafei Chen is acting as Chinese counsel. Beijing-based Meituan Dianping operates mobile apps that review restaurants, order and deliver food and rent bicycles. The company said it will use the proceeds to develop new products and acquire new businesses. Davis Polk & Wardwell Hong Kong partners Li He and Bonnie Chan are advising underwriters Goldman Sachs, Merrill Lynch and Morgan Stanley with Zhong Lun Law Firm serving as Chinese counsel. [Read Full Story]
Paul Hastings Hong Kong partners Raymond Li, Zhaoyu Ren and Bonnie Yung represented Jiangxi Bank Co. Ltd., a commercial lender in eastern China, on a $952 million initial public offering on the Hong Kong Stock Exchange. Zhong Lun Law Firm Beijing partner Zoe Zhang advised the issuer on Chinese law. Latham & Watkins Hong Kong partners Cathy Yeung, Terris Tang and Allen Wang advised underwriters CCB International Capital Ltd., CLSA Ltd. and AMTD Global Markets Ltd., while King & Wood Mallesons served as Chinese counsel.
Hogan Lovells New York partner Alexander Johnson, Washington, D.C., partner Mahvesh Qureshi and Shanghai partner Andrew McGinty are advising Google on a $550 million investment into Chinese online retailer JD.com as the internet giant further expands its Asian retail presence. Skadden Hong Kong partner Julie Gao is acting for JD.com. As part of the deal, Google will promote products sold on JD.com and deepen a partnership with Walmart Inc., which owns a 12 percent stake in JD.com. Google’s main services, including search and email, remain unavailable in China.
Davis Polk Hong Kong partners Li He and James Lin represented Puxin Ltd., one of China’s largest tutoring services provider, on a $122 million initial public offering on the New York Stock Exchange. Tian Yuan Law Firm Beijing partners Wu Guanxiong, Li Haijiang and Li Han advised Puxin on Chinese law. Wilson Sonsini Goodrich & Rosati Hong Kong partners Weiheng Chen and Dan Ouyang advised the underwriters Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Barclays Capital Inc., Haitong International Securities Co. Ltd. and China International Capital Corp. Hong Kong Securities Ltd. Han Kun Law Offices Beijing partner Chao Yijun advised the banks on Chinese law.
Paul Hastings Hong Kong partners Raymond Li and Vivian Lam are representing Chinese private equity firm CDH Investments on a $1.4 billion acquisition of Australian liver cancer treatment firm Sirtex Medical Ltd. Hong Kong-listed China Grand Pharmaceutical and Healthcare Holdings Ltd. is partnering with CDH on the acquisition, which is expected to be completed in September. MinterEllison Melbourne partner Alberto Colla is acting as Australian counsel to CDH. Sirtex turned to Eversheds Sutherland, while Watson Mangioni Lawyers is advising on Australian law. [Read full story]
Skadden Tokyo partner Kenji Taneda has advised Japanese e-commerce company Mercari Inc. on a $1.2 billion initial public offering on the Tokyo Stock Exchange, the largest listing Japan has seen so far this year. Nishimura & Asahi Tokyo partners Kohei Koikawa and Kentaro Sugimoto acted as Japanese counsel to Mercari, Japan’s first unicorn and an operator of a flea market smartphone app. Simpson Thacher & Bartlett Tokyo partner Takahiro Saito represented the underwriters, including the Mitsubishi UFJ Financial Group Inc. and the Sumitomo Mitsui Financial Group Inc. Mori Hamada & Matsumoto was Japanese counsel to the banks. [Read full story]
Gibson, Dunn & Crutcher Los Angeles partner Keith Biancamano and Singapore partner Saptak Santra are advising Toyota Motor Corp. on a $1 billion investment into Southeast Asian ride-hailing app Grab Holdings Inc. The two companies will deepen collaboration on data-sharing technology and improve efficiency in ride sharing. Singapore-based Grab turned to regular counsel Hughes Hubbard & Reed New York partner Kenneth Lefkowitz. [Read full story]
Norton Rose Fulbright Singapore partner Yu-En Ong has represented The Hongkong and Shanghai Banking Corp. on a $587 million syndicated loan to Southeast Asian ride-hailing app Grab Holdings Inc. Singapore-based Grab planned to use the proceeds to expand business beyond ride-hailing and become an online-to-offline platform. HSBC acted as bookrunner for a consortium of 16 lenders. Clifford Chance Singapore partner Andrew Hutchins acted for Grab.
Paul Hastings San Diego partner Teri O’Brien and London partner Ronan O’Sullivan are advising French telemarketing and teleservices provider Teleperformance on a $1 billion acquisition of Indian outsourcing business Intelenet Global Services from U.S. private equity firm Blackstone. The deal, which is expected to close at the end of September pending regulatory clearance, will help Teleperformance meet its $7 billion revenue target earlier than 2022, the French company said. Simpson Thacher New York partner Michael Wolfson is representing Blackstone while Indian firm Platinum Partners is advising Intelenet. Linklaters Paris counsel Rhea Christophilopoulos is advising Teleperformance on the financing aspect of the deal.
Hogan Lovells Lee & Lee Singapore partner Stephanie Keen has represented PayPal Holdings Inc. on a $125 million investment alongside Singaporean sovereign investor Temasek Holdings Ltd. in Indian payment solution provider Pine Labs. The point-of-sales system provider will use the proceeds to further develop digital payments products in India. Indian firm Khaitan & Co Mumbai partner Vineet Shingal acted for Temasek. Allen & Gledhill advised Temasek on Singaporean law while Rahmat Lim & Partners represented the investment fund on Malaysian law. India’s Platinum Partners was counsel to Pine Labs.