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Skadden, Arps, Slate, Meagher & Flom and Affiliates

Hong Kong

Skadden, Arps, Slate, Meagher & Flom LLP & Affiliates - New York
  • 42/F, Edinburgh Tower
  • The Landmark
  • 15 Queen's Road Central
  • Hong Kong
  • Hong Kong
  • China
  • Executive Partner: Eric J Friedman
  • Asia Pacific Practice Leader: Michael V Gisser
  • Number of partners worldwide: 405
  • Number of partners Asia-Pacific: 19
  • Number of attorneys Asia-Pacific: 80

Firm Overview:
With approximately 1,800 attorneys in 22 offices on five continents, Skadden, Arps, Slate, Meagher & Flom LLP and affiliates (“Skadden”) serves clients in every major financial center. For more than 60 years, Skadden has provided legal services to the corporate, industrial, financial and governmental communities around the world in a wide variety of high-profile transactions, regulatory matters, and litigation and controversy issues. With approximately 80 attorneys in the firm's Asia-Pacific offices — in Beijing, Hong Kong, Shanghai, Singapore, Sydney and Tokyo — Skadden has the resources to handle the largest and most complex transactions in the region.

Main Areas of Practice:
Skadden advises clients in more than 40 practice areas globally. In Asia-Pacific the firm’s main areas of practice are:

M&A/Corporate:
Skadden advises clients in more than 40 practice areas globally. In the Asia-Pacific region the firm’s main areas of practice are:

M&A/Corporate:
Skadden has developed a market-leading M&A capability in Asia over the past 20 years with a focus on complex, cross-border transactions. Recent representations include:
■ China Three Gorges Corporation in its US$3.5 billion acquisition of a stake in Energias de Portugal S.A.
■ Sprint Nextel Corporation in its sale to Japan’s SoftBank Corp. of a 70% stake for US$20.1 billion.
■ The chairman of Focus Media Holding Limited in its US$3.7 billion going-private transaction.
■ Stanley Black & Decker in its US$850 million acquisition of Infastech.
■ Yahoo! Inc. in its US$7.1 billion sale of a 20% stake in Alibaba Group.
■ Youku Inc. in its US$1.1 billion merger with Tudou Holdings Limited.

Corporate Finance:
Skadden provides legal advice to corporate, governmental and investment banking clients on a variety of corporate finance transactions, including IPOs, high-yield financings and other global equity and debt offerings. Recent work includes advising: ■ Sinopec Corp. and Sinopec Capital (2013) Limited on a US$3.5 billion four-tranche senior unsecured notes offering.
■ The underwriters on the US$750 million high-yield senior notes offering by Country Garden Holdings Company Limited.
■ The underwriters on the US$230 million global offering by Philippines-listed Bloomberry Resorts Corporation.
■ YY Inc. on its initial public offering and listing on NASDAQ.

International Arbitration & Litigation:
Skadden’s International Arbitration and Litigation Group in Asia provides the full range of international dispute resolution services across the region. Recent contentious work includes:
■ An ICC arbitration in Hong Kong, against a number of oil majors in relation to multimillion-dollar disputes arising in respect of an energy supply contract.
■ CNOOC Limited and Kuwait Foreign Petroleum Export Corporation in an UNCITRAL arbitration relating to delivery obligations under a take-or-pay gas sales contract.

Energy & Infrastructure Projects:
Skadden's energy and infrastructure projects practice in Asia focuses on a wide range of developments and projects. Recent experience includes advising:
■ P.T. Paiton Energy on the financing of an 815MW coal-fired power plant.
■ Wynn Resorts (Macau) S.A. on a US$2.3 billion dual-currency secured credit facility to fund the development of a new casino resort in Macau.
■ The AES Corporation and Masinloc Power Partners Co., Ltd. on a US$500 million refinancing of existing debt on the Masinloc Power Project.

Banking & Finance:
Skadden’s banking and leveraged finance practice represents arrangers, investors and borrowers in significant investment grade and leveraged debt-related transactions providing lender and borrower representation. Recent representations include advising: 
■ InterGen N.V. on the US$1.8 billion refinancing of its debt and credit facilities.
■ PT Trans Airways on a US$150 million acquisition financing for its acquisition of 10.9% of PT Garuda Indonesia.
■ Credit Suisse AG in connection with its arrangement of a fully underwritten covenant-lite US$5 billion senior secured term loan to Fortescue Metals Group, Australia’s third largest producer of iron ore.

Real Estate:
Skadden’s Asia Real Estate and Investment Finance team operates across the firm’s Hong Kong, Tokyo and Beijing offices and has represented developers, lenders, investment banks, pension funds, real estate investment trusts, domestic and foreign investors, and major corporations in real estate-related transactions throughout the region.

Branches

  • 30/F, China World Office 2,
  • No. 1, Jian Guo Men Wai Avenue,
  • Beijing,
  • China
  • 100004
  • Tel +86 10 6535 5500
  • Fax +86 10 6535 5577
  • Website : http://www.skadden.com/default.cfm
  • 42/F, Edinburgh Tower,
  • The Landmark,
  • 15 Queen's Road Central,
  • Hong Kong,
  • China
  • Tel +852 3740 4700
  • Fax +852 3740 4727
  • Plaza 66, Tower 1, 36th Floor,
  • 1266 Nanjing West Road,
  • Shanghai,
  • China
  • 200040
  • Tel +86 21 6193 8200
  • Fax +86 21 6193 8299
  • 6 Battery Road,
  • Suite 23-02,
  • Singapore,
  • Singapore Island
  • Singapore
  • 049909
  • Tel +65 6434 2900
  • Fax +65 6434 2988
  • Level 13, 131 Macquarie Street,
  • Sydney,
  • New South Wales
  • Australia
  • NSW 2000
  • Tel +61 2 9253 6000
  • Fax +61 2 9253 6044
  • Izumi Garden Tower,
  • 21st Floor, 1-6-1 Roppongi,
  • Minato-ku,
  • Tokyo,
  • Tokyo-to
  • Japan
  • 106-6021
  • Tel +813 3568 2600
  • Fax +813 3568 2626

Capital Markets - Asia-Pacific Region

What the team is known for Maintains an exceptional equity practice and also demonstrates particularly impressive strength in high yield, sustaining a high level of activity on senior notes offerings. Also has a notable investment-grade debt practice. Its footprint stretches across Hong Kong, Shanghai, Beijing, Singapore, Tokyo and Sydney.

Strengths (Quotes mainly from clients)
Strategic planning: "Client care is good: most legal professionals go out of their way but Skadden tries to provide more than just legal advice. They help the business team to get the best out of the deal, as well as understanding the risk."

Bench strength: "The partners are accessible and knowledgeable and they have a deep bench of people to work with."

Work highlights Advised Sinopec in a senior unsecured notes offering worth USD3.5 billion in unsecured Rule 144A/Regulation S notes. It was the largest US dollar bond offering issued by a Chinese company.

Represented Indosat Palapa on a 7.375% guaranteed senior notes offering of USD650 million.

Advised YY Inc, a communication social platform headquartered in China, on its USD82 million IPO on NASDAQ.

Notable practitioners

Michael Gisser is the overall head of the capital markets practice for the Asia-Pacific region. Jonathan Stone in Hong Kong is the firm's head of corporate in Asia (excluding Japan). 

Significant clients YY Inc, CLSA, UBS, Citi, Morgan Stanley.

Corporate/M&A - Asia-Pacific Region

What the team is known for A pre-eminent name for ground-breaking M&A transactions of all types involving multiple industry sectors. Has assisted some of the biggest names in the Japanese market on business combinations and equity transfers. Regularly instructed to act for companies, independent committees and consortium members on private equity buyouts in China. Achieves extra regional coverage with its offices in Singapore and Australia. 

Strengths (Quotes mainly from clients)
Pragmatic advice: "The partners co-operate well and are familiar with both local and international practices. They are commercial and give practical and efficient advice."

Work highlights Acted for Japanese industrial and agricultural products manufacturer Marubeni in its USD5.3 billion acquisition of US grain handler Gavilon Group.

Advised Chinese internet video provider Youku on its USD1.1 billion merger with former rival Tudou Holdings. 

Notable practitioners  

Tokyo office head Mitsuhiro Kamiya is a main port of call. Jonathan Stone is the main contact in Hong Kong, as is Peter Huang in Beijing.

Significant clients Sinochem, China Three Gorges, Recruit Holdings, Sumitomo Mitsui Banking, Marubeni, Yahoo!.

Capital Markets - China

Basic facts about the department
Equity & debt
- 13 partners
- 6 counsels
- 37 other attorneys

What the team is known for A seasoned team that provides a well-rounded service but is especially highly regarded for the US law side of transactions. Viewed as a market leader in high-yield debt.

Strengths (Quotes mainly from clients)
Bench strength: "Quality across the board is pretty consistent. Their lawyers are user-friendly, good with disclosure issues, pragmatic on structuring and equipped to get work done in short timeframes without compromising quality."

International capability: "They have an expanse of senior expertise throughout the region, but they also have global reach - they're a big securities firm in the US as well as Asia. They're a great resource for novel issues - the partners are very accessible and knowledgeable."

Market standing: "A very strong US law outfit – one of the top of its kind on US capability." 

Work highlights Advising Chinese multimedia social platform YY Inc. in connection with its USD82 million IPO and NASDAQ listing.

Acting for Sinopec on its offering of senior unsecured notes, valued at USD3.5 billion.

Representing the underwriters in a high-yield offering of 11.75% senior notes due 2017 by Yuzhou Properties. 

Notable practitioners  

Veteran practitioner Jonathan Stone's experience covers a range of equity, high-yield and investment grade debt. Sources applaud him for his technical expertise, and also highlight his "very commercial" advice. Stone was a key partner advising Bloombery on a recent share offering, valued at USD230 million.

Julie Gao maintains her reputation as one of the practice's "dominant forces." She has a long and impressive track record in representing Chinese companies on US equity offerings. She was the key partner acting for YY Inc. on its recent IPO.

Sources regard Alec Tracy as "a tough negotiator who's good to have on your side." He is held in high esteem by both peers and clients, with one peer keen to emphasise that "he is very technically sound and smart, and has a lot of experience in a range of different industries and transactions."

Edward Lam was part of the team representing Sinopec in its three-tranche senior notes offering with a total value of USD3 billion. Clients describe him as "detailed, commercial and always attentive."

Christopher Betts was part of the team which recently acted for RDA Microelectronics on its follow on offering of ADS, valued at USD77 million.

Significant clients 21Vianet Group, 360buy Jingdong, Goldman Sachs, RDA Microelectronics, UBS, Vipshop Holdings.

Dispute Resolution - China

Basic facts about the department
- 1 partner
- 2 counsel
- 4 associates

What the team is known for The Hong Kong office serves as a hub for the wider region and has advised on disputes relating to India, Indonesia, Japan, Thailand and the Philippines of late.

Strengths (Quotes mainly from clients)
Market standing: "We see them as one of our key competitors. In Paul Mitchard they have a formidable presence."

What's new? Practice head Paul Mitchard QC was one of the first lawyers in Hong Kong to be appointed solicitor advocate.  

Work highlights Obtained a USD77 million-plus award for Starr Investments Cayman, following parallel Hong Kong International Arbitration Centre proceedings arising from its investment in the delisted China MediaExpress Holdings (declared a fraudulent enterprise by the tribunal).

Counselled an international steel manufacturer on a shareholder dispute relating to investments in Japan and Thailand.

Notable practitioners  

Paul Mitchard QC is one of the most experienced arbitration counsel in Hong Kong, with peers acknowledging his "huge reputation" in the market. One source observed that, "above all, he gives commercially driven solutions to problematic cases. He's very responsive and has a real handle on what clients want to achieve." He is regularly appointed as an arbitrator, and is also active in international litigation. 

Energy & Natural Resources - China

What the team is known for Well regarded globally for its leading corporate practice, it advises on financings, acquisitions and capital markets issuances in the energy sector.

Strengths (Quotes mainly from clients)
Expertise: "They get called in when a client needs heavy fire power."

Industry knowledge: "They'll have an answer whenever an issue arises - they really know this market."

Work highlights Acted for AAR Advisory Services in relation to the USD56 billion sale of TNK-BP, a joint venture between BP and the Alfa-Access-Renova consortium, to Rosneft Oil.

Acted for a subsidiary of Sinopec in relation to a USD3 billion three-tranche senior note offering by the client.

Notable practitioners

Alan Schiffman is a key client contact for energy and natural resources matters. 

Private Equity - China

What the team is known for Continues to expand its private equity practice advising domestic, regional and global fund clients as well as securing new client relationships. Increased uptake of work in take-private transactions acting for investor consortia and special committees.

Strengths (Quotes mainly from clients)
Efficiency: "They did a very good job; the whole team worked very hard and responded to us well. We very much appreciate their commitment to the project and their skills in making it a smooth transaction."

Work highlights Advised Morgan Stanley Private Equity Asia in the USD147 million privatisation of Feihe International.

Represented Carlyle Asia Partners (Hong Kong) in selling a 40% stake of Jiangsu Sinorgchem Technology to a subsidiary of Sinochem at USD316 million.

Notable practitioners 

Peter Huang is a key client contact for private equity matters.

Significant clients Chengwei Capital, CITIC Capital, Warburg Pincus.

Projects - China

What the team is known for A broad range of financing and M&A work relating to energy and infrastructure projects.

Work highlights Represented Wynn Resorts on the financing for its casino development in Macau.

Notable practitioners  

Alan Schiffman continues to be a noted practitioner in this field, and is "very well plugged into the sector." In addition to acting for Wynn Resorts, he also represented AES in the refinancing of debt associated with a 600 MW power project in the Philippines.

Capital Markets - India

What the team is known for Regarded as a solid choice for high-yield debt transactions. Impresses clients with its knowledge of the international bond markets.

Strengths (Quotes mainly from clients)
International capacity: "They have performed well on deals in various countries."

Pragmatic advice: "They gave us a lot of insight into the way the bond market operates, and told us what can be done and what can't."

Work highlights Advised Credit Suisse Securities India on a USD175 million qualified institutional placement (QIP) by Jaiprakash Power Ventures.

Acted for Goldman Sachs in its role as broker regarding an OFS on the Bombay Stock Exchange and National Stock Exchange of India involving shares in Jaiprakash Power Ventures.

Notable practitioners  

Rajeev Duggal heads the firm's Singapore office and is recognised in the market for his activity on both M&A and capital markets transactions.

Hong Kong-based Asia corporate practice head Jonathan Stone is singled out by clients as being "particularly impressive - he's persistent and almost always reachable, or else he calls back as soon as he's available." 

Corporate/M&A - India

What the team is known for Offers world-renowned M&A expertise to clients seeking assistance with India-related mandates. Strengths include mergers, joint ventures, acquisitions, divestitures and cross-border investments.

Work highlights Advised Mylan on its USD1.6 billion acquisition of Agila Specialities from Strides Arcolab.

Acted for Mahaman Assets on its USD225 million management-led LBO of Silverlink Resorts.

Notable practitioners

Michael Gisser in Los Angeles and Jonathan Stone in Hong Kong are both key contacts.

Corporate & Finance - Indonesia

What the team is known for Solid track record in a wide range of capital markets transactions in Indonesia, including IPOs, follow-on offerings, and investment grade and high-yield debt offerings. Also active in advising sponsors and lenders on various energy and infrastructure projects.

Work highlights Acted for Morgan Stanley, Citi and CLSA on the Indonesian IPO and Rule 144A/Regulation S placement outside Indonesia of coal producer Toba Bara Sejahtra's shares, at a value of USD42 million.

Advised Indosat on its USD519 million sale and leaseback of 2,500 towers to Tower Bersama Infrastructure.

Notable practitioners  

Jonathan Stone has a pan-Asian practice and in Indonesia is especially noted for his capital markets credentials. Recent highlights include acting for Morgan Stanley on the Indonesian IPO and placement outside Indonesia of Austindo Nusantara Jaya's shares, at a value of USD42 million.   

Significant clients Citi, CLSA, Indosat, Morgan Stanley.

Corporate & Finance - Philippines

Basic facts about the department
- 3 partners
- 3 counsel
- 2 associates
- lawyers with expertise of the Philippines mainly based in Hong Kong and Singapore

What the team is known for Noted for its eminent corporate and private equity practice. Acts for overseas companies on inbound acquisitions, and also represents banking institutions in local capital raisings.

Work highlights Represented Coca-Cola in the sale of its majority shareholding in Coca-Cola Bottlers Philippines to Coca-Cola FEMSA in Mexico for USD689 million. 

Acted for joint lead managers CLSA and UBS on Bloombury Resorts' USD208 million Rule 144A/Regulation S offering. 

Notable practitioners  

Jonathan Stone maintains a fine reputation for his involvement in some of the most significant mandates in the region. "Jon is one of the most experienced partners for corporate transactions. There are only a handful of people with that level of expertise: he is one of them," say interviewees.