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Latham & Watkins Advises on the Merger of D&J and New Ease

December 22, 2021
The transaction also raised US$1.5 billion financing round for the combined group.

Latham & Watkins advised on the strategic merger of D&J China and New Ease China, two of the leading new economy infrastructure platforms in China, and its related equity financing. The team also advised Warburg Pincus, the key existing shareholder in both portfolio companies, to participate in the new financing round for the combined group.

The combined company will be rebranded as DNE Group. Following the transaction, DNE Group will be a leading new economy infrastructure developer and operator with over US$11 billion in assets under management and over 10 million square meters across multiple verticals, including logistics and cold chains, life science and modern manufacturing parks, urban redevelopment, and data centers.

Third party new investors, including Partners Group, StepStone Group, Sequoia, CITIC PE, and D1 Capital, invested approximately US$1.5 billion in total, alongside existing shareholders including Warburg Pincus and the founder Mr. Sun Dongping.

The Latham team was led by Hong Kong corporate partner Amy Beckingham and associate Zhonghua Shi, with associates Vivian Yeung, Frances Yu, Ruonan Duan and Rita Hong. Additional advice on finance, tax, due diligence and other matters was provided by lawyers from across the firm’s global network.