Yao Yang

Yao’s representative experience includes advising:

Buyouts, US Take-Privates, and Exits

• WNS Holding, an India-based provider of offshore business process outsourcing services for the travel and financial sectors, on its US$3.3 billion sale to Capgemini
• Black Spade Acquisition II, a special purpose acquisition company (SPAC), on its business combination with World Media and Entertainment Universal, a France-based global media and entertainment company
• Trustar Capital, formerly CITIC Capital Partners, on acquiring equity interest in McDonald’s China for about US$430 million; this transaction was awarded PE/VC Deal of the Year by China Business Law Journal’s Deals of the Year Awards 2024
• Silicon Motion Technology, a Taiwan-based developer of NAND flash controllers, on its proposed US$3.8 billion take-private acquisition by MaxLinear, a California-based integrated circuits provider
• Loscam (Greater China) Holdings and its affiliates on its US$132.2 million acquisition of CHEP China, an operator of pallet and automotive pooling operations in mainland China and Hong Kong
• The buyer consortium on a proposed take-private of GSMG, a leading digital media platform and content-driven ecommerce company in China
• A buyer consortium led by Tencent and Hammer Capital on the US$1.1 billion privatization of Bitauto Holdings, a US-listed internet content and marketing service provider focusing on the automobile industry, as well as Tencent as a joint offeror on the consequential mandatory general offer for Yixin Group, Bitauto’s Hong Kong-listed subsidiary, as triggered by the Bitauto privatization
• Tencent on its proposal for Huya, Tencent’s controlled subsidiary, to enter into a stock-for-stock merger with DouYu International, of which Tencent is the largest shareholder; Huya and DouYu, the two largest live game streaming platforms in China, are both listed in the US
• Warburg Pincus on:
  • Acquiring Pregis from Olympus Partners*
  • Exiting from CAGR, a natural gas distribution operator in China
• Genting Malaysia Berhad and Kien Huat Realty III on their joint acquisition of Empire Resorts, a US-listed company*
• América Móvil on its US$905 million acquisition of Nextel Telecomunicações*
• Agilent Technologies on its US$250 million acquisition of ACEA Biosciences, a US pharmaceutical company with major operations in China*
• International Flavors & Fragrances on its US$7.1 billion acquisition of Frutarom Industries, an Israel-based flavors and ingredients company*

Joint Ventures

• Loscam International’s existing shareholders on selling a 30% stake in Loscam to Mubadala
• LaSalle Investment Management on establishing a joint venture in the real estate operation and development management business, focused on operating, managing, and developing multi-family properties in China
• Warburg Pincus on establishing Golden Union Assets with Golden Union Group, a platform focused on the urban renewal and redevelopment sector in China
• A leading Asia private equity fund in multiple joint venture arrangements with respect to Indian logistics assets

Growth Capital Investments and PIPEs

• SoftBank on its US$150 million Series F funding round for Eruditus, an India-based education tech company
• KKR on investing in OMS Group, a Malaysia-based telecom infrastructure company and provider of subsea cable services
• Primavera on a Series A financing in a biotech company in China
• Boyu Capital, as lead investor, on a Series B and Series B+ preferred share investment in J&T Global Express
• The Carlyle Group on:
  • Its US$260 million acquisition, through its CAP V Mauritius fund, of a 5% stake in Shenzhen Salubris Pharmaceuticals, a China-based biopharmaceutical company
  • A Series D investment in Abbisko Cayman, an oncology-focused biotech company in China
• A leading state-owned investment firm on:
  • Its Series A-3 financing of an AI company based in China
  • An investment into a Hong Kong-based gamification and blockchain leader
• K11 Investment Company on investing in non-performing loan assets
• Dream Sports, a leading sports technology company based in India, in its Series D investment into FloSports, a US-based sports media company
• Savvy Games Group, an international games and esports company, on its US$265 million investment in a significant stake of leading China-based esports company VSPO (formerly VSPN)
• Binance, one of the world’s largest cryptocurrency and blockchain infrastructure providers, on its US$200 million strategic investment in Forbes
• Aspex Management on a forward purchase agreement for a Chinese private equity-sponsored SPAC

*Matter handled prior to joining Latham