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With over three decades in the region, Paul, Weiss has long been recognized as a leader and legal innovator among international law firms in Asia. Our Asia based partners have been consistently ranked in the top tier of practitioners in their areas of expertise.

Representative Engagements

  • Ageas Insurance International N.V. in the US$1.38 billion sale of its Hong Kong insurance subsidiary to JD Capital, a China-based asset manager.
  • Boyu Capital Advisory, a China-based private equity firm, in its investment in China ChengXin International Credit Rating Co. Ltd. (CCXI), the leading credit rating agency in China.
  • DiDi Chuxing, a China-based mobile transportation platform: 
    • in a 14.8% investment stake in Cango Inc., a China-based automotive e-commerce platform;
    • as the lead investor, alongside SoftBank Group Corp., a Japan-based telecommunications and Internet firm, in a US$2 billion financing round of investment in Grab, Southeast Asia’s leading ride-hailing company; and
    • as significant existing shareholder of Grab, in the acquisition by Grab of Uber's Southeast Asian operations.
  • DreamWorks Animation on its ground-breaking joint venture with various Chinese partners to establish Oriental DreamWorks, the leading China-focused family entertainment company in the PRC; and in its investment in "Shanghai DreamCenter", a US$2.4 billion cultural real estate project that will consist of commercial real estate, office buildings and culture/entertainment components.
  • General Atlantic:
    • in its investment in NetEase Cloud Music, a China-based music streaming service of NetEase Inc.;
    • in its investment in Jinri Toutiao, a China-based news and information content platform;
    • as lead investor alongside Hillhouse Capital, in the US$120 m Series C financing round of MyDreamPlus, a China-based co-working platform; and
    • in its CNY300 million (US$47 million) investment in Today, Inc., a China-based convenience store brand which utilizes a tech-enabled, next-generation retail model to offer customers a differentiated experience.
  • GIC, Singapore’s sovereign wealth fund, alongside several Asia-based investors led by Yunfeng Financial Group, in the approximately US$1.768 billion cash and stock acquisition of MassMutual Asia Ltd from MassMutual International LLC, a Massachusetts-based mutual life insurance company.
  • Hillhouse Capital in its investment in Magento Commerce, a global provider in cloud digital commerce innovation, and the subsequent US$1.68 billion sale to Adobe.
  • KKR in its:
    • US$175 million minority investment in Voyager Innovations, the financial technology arm of PLDT Inc, a Philippines-based telecommunications and digital services provider;
    • investment and launch of Cue & Co., a one-stop digital marketing company for the Chinese market, bringing together four industry leaders, Qi-xin, AnG, WIN and Wina Tech to create a multi-brand company with wide-ranging digital marketing capabilities; and
    • investment in Shenzhen Suishou Technology Co., a China-based personal finance management platform.
  • Microsoft Corporation on a number of key investments in China, including its joint venture with China Electronic Technology Corporation (CETC) to license, deploy, manage and optimize Windows 10 for China's government agencies and certain state-owned enterprises in mission critical infrastructure sectors and to provide ongoing support and services for these customers; and on its US$237 million joint venture with BesTV New Media, a subsidiary of Shanghai Media Group, to develop and distribute software and related products for home gaming entertainment in China.
  • Morgan Stanley Private Equity Asia (MSPEA):
    • in the proposed acquisition of China Network Systems (CNS), Taiwan’s largest cable TV operator;
    • in the acquisition of Coinage International, one of the leading financial education companies in China;
    • in its joint venture with Sihuan Pharmaceutical Holdings Group Ltd. and Euromax Holdings Limited to make direct or indirect controlling investments in hospitals, clinics and other healthcare service assets in China; and
    • in connection with a tender offer and take-private transaction involving DSG International (Thailand) Public Company Limited (DSGT), a Thailand-listed manufacturer and distributor of disposable baby and adult diapers, in its first investment in Thailand.
  • Naspers, a South African media group, on its disposal and placing of approximately 2% of the issued share capital of Tencent, which raised gross proceeds of approximately US$9.8 billion (recognized as “Best Equity Deal” by FinanceAsia Achievement Awards 2018).
  • Ontario Teachers’ Pension Plan, Canada’s largest single-profession pension plan, in its investment alongside FountainVest Partners, a Hong Kong-based private equity firm, in The Pure Group, a Hong Kong-based fitness and yoga center operator and wellness brand.
  • PAG, a China-based private equity firm, in its investment in Joyson Key Safety Systems, a Michigan-based developer and manufacturer of automotive safety systems. As part of the transaction, Joyson Key Safety Systems acquired assets from Takata Corporation out of cross-border bankruptcies in the United States and Japan for US$1.58 billion.
  • Shaw Kwei & Partners Limited on a number of key investments in the region, including the acquisition of Beyonics Technology Limited, a major player in the electronics manufacturing and precision engineering services landscape in Asia; and in the US$190 million sale of YongLe Tape Company Ltd., a leading Chinese manufacturer of specialty tapes, together with its founder and senior management, to Avery Dennison.
  • SoftBank Vision Fund, alongside various global investors, in the US$1.9 billion investment in Full Truck Alliance, a China-based truck-hailing company.
  • Tencent on a number of key investments globally, including its acquisition of an 80% stake in Grinding Gear Games; its investment in Skydance Media; its US$604 million investment in Vipshop Holdings Ltd; its investment in Yixin Capital; its US$200 million cash investment in Zhuan Zhuan; its US$1.58 billion joint investment with Alibaba Group and Oriza Holdings in CMC Holdings; in a US$1.55 billion joint investment with JD.com in Bitauto Holdings Limited; and as part of a consortium of investors in the US$1 billion privatization of Bona Film Group Limited.
  • The Carlyle Group on a number of key investments in China and Taiwan, including its investment in Adicon Holding Limited; the investment and sale of its shareholding in Natural Beauty Bio-Technology Limited; in the US$2.4 billion sale of all its interest in kbro, Co., Taiwan’s largest cable TV operator, to Wealth Media Co.; and in the disposal of its stake in Taiwanese bank Ta Chong Bank Limited in a share swap with Yuanta Financial Holdings Ltd.
  • Universal Parks & Resorts in connection with the proposed Universal Beijing Resort project which will include the Universal Beijing Theme Park and other resort components.
  • a consortium of investors as a shortlisted bidder in the auction sale of McDonald’s operations in mainland China, Hong Kong and Macau; and
  • an investor in the co-investment led by Tencent in its US$8.6 billion acquisition of the majority stake in Supercell, a European mobile gaming company which founded and operates the “Clash of Clans”.

© 2019 Paul, Weiss, Rifkind, Wharton & Garrison LLP

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