China Business Law Journal recognized Latham & Watkins for advising on five of the publication’s 2021 Deals of the Year. The firm’s work included advising on landmark M&A and capital market transactions, as we partnered with clients across sectors on some of the most significant deals in the China market.
Latham advised on the following award-winning matters:
China Biologic’s Nasdaq delisting: Latham advised CITIC Capital as a member of the buyer consortium of China Biologic Products, one of China’s largest medial and biomedicine companies. The privatization allows the China Biologic to extend its domestic footprint in research and development. The take-private deal, worth US$4.76 billion, delisted China Biologic from the Nasdaq as it became a wholly owned subsidiary of CBPO Holdings Limited.
Kuaishou Technology’s Hong Kong IPO: Latham advised Kuaishou on Hong Kong and US law aspects of the company’s listing on the Stock Exchange of Hong Kong. One of China’s largest video sharing mobile applications, Kuaishou raised US$5.4 billion in proceeds — marking the second largest offering in the technology sector following Uber’s 2019 Nasdaq listing. The shares of Kuaishou, priced at US$14.70 apiece, rose 160% on the first day of trading.
Tencent’s senior notes: Latham advised the underwriters on US and English law aspects of Tencent’s issuance of US$4.1 billion in senior notes under a global medium-term note (MTN) program. The issuance by Tencent, a Chinese multinational technology conglomerate holding company, represents one of the largest multiple tranche debt sales in the technology sector.
Trip.com’s Hong Kong listing: Latham advised the joint sponsors and underwriters in the secondary listing and US$1.07 billion initial public offering of Trip.com on the main board of the Hong Kong stock exchange. With the secondary listing, Trip.com, a Chinese multinational travel agency, is the first travel platform to be listed on both the US and Hong Kong stock markets.
Consortium’s investment in Aramco: Latham represented EIG Global Energy Partners in leading Silk Road Fund, a global investor consortium, in acquiring a 49% stake in Aramco Oil Pipelines. The US$12.4 billion investment includes the lease of usage rights of the Saudi Arabian Oil Company’s stabilized crude oil pipeline network.