Latham Advised on 13 China Deals of the Year

China Business Law Journal recognized Latham & Watkins for advising on 13 of the publication’s 2024 Deals of the Year. The publication selected the winning deals from submissions by Chinese and international law firms, based on factors like deal size, industry impact, structural innovation, judicial precedent setting, and social contribution.

Latham advised on the following award-winning matters:

Mergers & Acquisitions

• LG Display’s CNY10.8 billion Sale of LCD Business — Latham advised LG Display on its sale of its LCD business in China to TCL China Star Optoelectronics Technology Co.
• Amphenol’s US$2.1 billion Acquisition of CommScope’s Mobile Networks Businesses — Latham represented Amphenol, a global interconnect solutions provider, in the transaction.

Private Equity & Venture Capital

• McDonald’s China Stake Sales — Latham advised Trustar Capital, private equity affiliate of CITIC Capital, on transactions involving the fast food chain’s mainland China, Hong Kong, and Macau businesses, resulting in Trustar and CITIC’s ownership of 52% of equity interests in the businesses.
• GDS International’s US$1 billion Series B Financing — Latham represented Coatue Management in the investment. The financing enabled GDS, a leading developer and operator of high-performance data centers in China and Southeast Asia, to advance its total data center capacity.

Capital Markets

• RoboSense’s HK$985 million IPO — Latham advised the joint sponsors and underwriters on RoboSense Technology’s initial public offering, making it the first LiDAR company listed on the Hong Kong Stock Exchange.
• WeRide’s US$440 million IPO — Latham advised the underwriters on the Chinese autonomous vehicle company’s initial public offering on the Nasdaq Stock Market and concurrent private placements.
• Amer Sports’ US$1.37 billion IPO — A cross-border Latham team represented the underwriters in the sports group’s initial public offering on the New York Stock Exchange.
• Alibaba’s US$5 billion Convertible Senior Notes Offering — Latham advised the underwriters on the Chinese company’s convertible senior notes offering.
• JD.com’s US$440 million Senior Notes Offering — Latham advised on the upsizing and pricing of the supply chain-based technology service provider’s offering of convertible senior notes.

Liquidation, Bankruptcy, and Restructuring

• Babel Holding Debt Restructuring — Latham advised Babel Finance on the debt restructuring of its cryptocurrency lending arm following the 2022 crypto market crash.
• Yuzhou Group Debt Restructuring — Latham advised the bank syndicate to Yuzhou Group Holdings Company on its restructuring process as prescribed by Hong Kong legislation.
• Zhongliang Holdings Debt Restructuring — Latham advised the ad hoc committee of offshore bondholders in Zhongliang Holdings Group’s restructuring, one of the few successful Chinese real estate restructurings since 2021.

Dispute Resolution

• Parakou Shipping Pte Ltd v. Jinhui Shipping and Transportation Ltd — Latham represented three defendants from the Liu family, owners of Parakou Shipping, in a complex, cross-border dispute in Hong Kong, securing a favorable settlement after many years of litigation and arbitration.