Joey Chau

Joey has advised on a number of significant M&A transactions, including the following:

2024

• GL Capital on its proposed privatization of SciClone Pharmaceuticals (Holdings) Limited (HKSE: 6600), a company incorporated in the Cayman Islands and listed on the Hong Kong Stock Exchange
• Independent Board Committee of Vinda International Holdings Limited (HKSE: 3331) in the voluntary conditional cash offer from Isola Castle Ltd
• CIMC Vehicles (HKSE: 1839), on its proposal to buy-back all its issued H shares, which will result in the delisting of the H shares from The Stock Exchange of Hong Kong Limited

2023

• ZG Group, a leading iron & steel e-commerce platform in China, on its business combination with Aquila Acquisition Corporation, a special purpose acquisition company. This is the first de-SPAC transaction in Hong Kong since the introduction of the SPAC listing regime in Hong Kong on 1 January 2022
• MoneyHero Group on its business combination with Bridgetown Holdings Limited (NASDAQ: BTWN), a special purpose acquisition company formed as a collaboration between Pacific Century Group and Thiel Capital
• CICC, as financial adviser to Inner Mongolia Yitai Coal Co., Ltd. (HKSE: 3948; SHSE: 900948), on its proposal to buy-back all its issued H shares, which will result in the delisting of the H shares from The Stock Exchange of Hong Kong Limited
• NetDragon Websoft Holdings Limited (HKSE: 777), a global leader in building internet communities, on the spin-off of its core overseas education business through its subsidiary, and the merger of its subsidiary with Gravitas Education Holdings, Inc. (NYSE: GEHI). This transaction was named “Deals of the Year 2023” by China Business Law Journal
• Wynn Macau, Limited (HKSE: 1128), a developer, owner and operator of destination casino resorts in Macau, on its issuance of US$600 million of convertible bonds due 2029 with an interest rate of 4.5%
• Power Heritage Group Limited (as the offeror) on its privatization of Jiangnan Group Limited (HKSE: 1366)
• Bain Capital in its minority investment in EcoCeres, Inc., an subsidiary of The Hong Kong and China Gas Company Limited (Towngas) (HKSE: 0003)
• SciClone Pharmaceuticals (Holdings) Limited (HKSE: 6600) in its HK$780 million share buyback by way of general offer

2022

• Link REIT (HKSE: 823) on its S$2.16 billion acquisition of a portfolio of assets in Singapore. This transaction was named “Best Property Deal - Singapore” by FinanceAsia Achievement Awards 2023
• Skyworth Group Limited (HKSE: 00751) in its HK$380 million share buyback by way of general offer
• Oaktree Capital in its cornerstone investment in China Tourism Group Duty Free Corporation’s listing on the Hong Kong Stock Exchange
• CICC, as financial adviser to Shenzhen EVOC Intelligence Technology Company Limited, in its privatisation of EVOC Intelligent Technology Company Limited (HKSE: 2308)
• Oaktree Capital in its cornerstone investment in Thai Life Insurance’s THB37.1 billion (approximately $1 billion) listing on the Stock Exchange of Thailand
• COFCO Beverages (CCBMH) Limited, a subsidiary of COFCO Corporation and China Foods Limited (HKSE: 506), in the acquisition of all of the equity interests in certain wholly-owned subsidiaries of Coca-Cola Bottlers Manufacturing Holdings Limited, a joint venture ultimately owned by The Coca-Cola Company, Swire Pacific Limited (HKSE: 00019 and HKSE: 00087) and COFCO Beverages (CCBMH) Limited. This transaction was named “Deals of the Year 2022” by China Business Law Journal
• Hypebeast Limited (HKSE: 00150) in its proposed listing on NASDAQ through a business combination with Iron Spark I Inc. (NASDAQ: ISAA), a special purpose acquisition company
• Sequoia China Infrastructure Fund in its investment in GDS Holdings Limited (NASDAQ: GDS; HKSE: 9698)
• LimeTree Capital in a platform consolidation of the commercial car park assets held by its two China-focused private investment funds
• CICC, as financial adviser to Luxshare Precision Limited, a wholly-owned subsidiary of Luxshare Precision Industry Co., Limited (SZSE: 002475), in its takeover of Time Interconnect Technology Limited (HKSE: 1729)
• CICC, as financial adviser to Beijing Chunhui Qingyun Technology and Environment Corporation Limited in the privatization of Guodian Technology & Environment Group Corporation Limited (HKSE: 1296)

2021

• A consortium of investors, comprising Centurium Capital, PW Medtech Group Limited (HKSE: 1358), CITIC Capital, Hillhouse Capital, Temasek and Marc Chan, in the US$4.6 billion take-private of China Biologic Products Holdings, Inc. (NASDAQ: CBPO). This transaction was named “Pharmaceuticals, Medical and Biotech M&A Deal of the Year” by Mergermarket China M&A Awards 2021, “2021 Deals of the Year” by China Business Law Journal and “Private Equity Deal of the Year” by IFLR Asia-Pacific Awards 2022
• CICC, as financial adviser to Yunan Baiyao in its takeover of Ban Loong Holdings (HKSE: 30)
• UBS AG, as financial adviser to CPF Investment Limited in its privatization of C.P. Pokphand Co. Ltd. (HKSE: 43)
• Artisan Acquisition Corp. (NASDAQ: ARTAU), a special purpose acquisition company founded by renowned Hong Kong cultural entrepreneur Adrian Cheng, in its business combination with Prenetics Group Limited. This transaction was named “Deals of the Year 2022” by China Business Law Journal
• Carlyle in its US$210 million investment in HUTCHMED
• JD Property Group in its US$2 billion take-private of China Logistics Property Holdings Co., Ltd. (HKSE: 1589)
• CICC, as financial adviser, in the take-private of Suchuang Gas (HKSE: 1430) by China Resources Gas
• Oaktree Capital in its US$100 million cornerstone investment in JD Logistics’ listing on the Hong Kong Stock Exchange
• CMGE Technology Group  (HKSE: 302) in its US$100 million issue of new shares to Bilibili Inc. (NASDAQ: BILI)
• CICC, as financial adviser to China Modern Dairy (HKSE: 1117), in its acquisition of Inner Mongolia Fuyuan International
• J.P. Morgan, as financial adviser to Country Garden Services (HKSE: 6098), in its privatization of Sichuan Languang Justbon Services Group (HKSE: 2606)
• An investor consortium comprised of Ocean Link Partners and Sequoia Capital China in the take-private of Zhejiang New Century Hotel Management Co., Ltd. (HKSE: 1158)

2020

• CICC, as financial adviser to Luxvisions Innovation Technology Limited in the takeover of Cowell (HKSE: 1415)
• Car Inc. (HKSE: 699), in its takeover by MBK Partners and its issue of US$175 million of convertible bonds to MBK Partners Special Situations fund. This transaction was named Private Equity Deal of the Year by Mergermarket China M&A Awards 2021
• Loyal Valley Capital, as a member of an investor consortium, in the privatisation of O-Net Technologies (HKSE:877)
• CICC, as financial adviser to Shandong Gold Mining Co. Ltd. (HKSE: 1787), in the take-private of Hengxing Gold Holding Company Limited (HKSE: 2303). This transaction was named “Deals of the Year 2021” by China Business Law Journal
• Advantage Partners, in its primary and secondary general partner share sale to, and strategic partnership with, Tokyo Century Corporation
• CICC, as financial adviser to SanXing Trade Co., Ltd., in the privatization of Changshouhua Food Company Limited (HKSE: 1006)
• Li & Fung, in US$100 million strategic investment by JD.com
• Huatai Financial Holdings, as financial adviser, in the privatization of Huarong Investment Stock Corporation Limited (HKSE: 2277) by Huarong International Financial Holdings Limited (HKSE: 993)
• Skyworth Group Limited (HKSE: 00751) in its HK$1.1 billion share buyback by way of general offer
• Lilly Asia Ventures, in its US$1,000 million cornerstone investment in Peijia Medical Limited
• GLP Pte. Ltd. and the consortium offeror comprising the Fung family and GLP, in its proposed privatization of Li & Fung, a company listed on the Hong Kong Stock Exchange (HKSE: 494)

2019

• TPV Technology Limited (HKSE: 903, SGX: T18), in its privatization by China Electronics Corporation
• Nan Fung Group, in its US$110 million acquisition of a minority stake in Hong Kong International Construction Investment Management Group Co., Limited (HKSE: 687)
• Blackstone, in its US$400 million subscription of H shares convertible bonds in Hong Kong-listed YiChang HEC ChangJiang Pharmaceutical Co., Ltd. (HKSE: 1558)

2018

• Loyal Valley Capital and TR Capital, in their cornerstone investments in the US$414 million initial public offering and listing of Shanghai Junshi Biosciences Co., Ltd. on the Hong Kong Stock Exchange

• UBS AG, as financial adviser, in connection with the US$671 million unsolicited conditional voluntary general offer of Spring REIT by PAG Real Estate

• Malaysian sovereign fund in its investment in the US$14 billion Series C equity financing of Ant Financial. This transaction was named Best China Deal and Best Financing (early stage to pre-IPO) by FinanceAsia Achievement Awards 2018 and Private Equity Deal of the Year by The Asia Legal Awards 2019

2017

• Bank of America Merrill Lynch, as financial adviser, in the $6.8 billion privatisation of Belle International Holdings Limited by way of a scheme of arrangement by a consortium

• MicroPort Scientific Corporation (HKSE: 853) in its US$190 million acquisition of the Cardiac Rhythm Management (CRM) business of NASDAQ-listed LivaNova PLC

• Alibaba Health Information Technology Limited (HKSE: 241) in its US$227 million issuance of new shares to a wholly-owned subsidiary of Alibaba Holding

• Midea International Corporation Company Limited, a wholly-owned subsidiary of Midea Group Co., Ltd. (000333.SZ), in its privatization of Welling

• Ally Bridge Group, as a joint offeror with a consortium established by an affiliate of the target company’s controlling shareholder and GL Capital Group, in its HK$2.34 billion (US$300 million) privatisation of Shandong Luoxin Pharmaceutical Group (HKSE: 8058)

• The Carlyle Group, CITIC Limited and CITIC Capital Holdings in the US$2.08 billion acquisition of the McDonald’s operations in China and Hong Kong

2016

• COFCO Coca-Cola Beverages Limited, a subsidiary of Hong Kong-listed China Foods Limited (HKSE: 506) and a subsidiary of state-owned COFCO Corporation, in its acquisition of equity interests in the bottling operations from The Coca-Cola Company and Swire Beverages Holdings Limited, and in its sale through auction of its equity interests in the bottling operations in China

• J.P. Morgan, as financial adviser, in CVC Capital Partners-led funds’ US$1.1 billion privatization of Nirvana Asia (HKSE: 1438)

• Ascendent Capital Partners, in connection with the takeover of China Automation Group (HKSE: 569)

• Malaysian sovereign fund, in its investment in Alibaba’s logistics affiliate, Cainiao

• Malaysian sovereign fund (as lead investor), in its investment in a US$160 million Series B fundraising of WeLab, operator of Wolaidai, and WeLend.hk

2015

• China Grand Automotive Services Co., Ltd. (SSE: 600297), in its US$1.5 billion partial offer for Baoxin Auto Group (HKSE: 1293)

• Vipshop Holdings Limited (NYSE: VIPS), as a cornerstone investor, in its €30 million investment in the IPO of French online fashion retailer Showroomprive.com (IPO-SHOW.PA) on Euronext Paris

• China Traditional Chinese Medicine (HKSE: 570), in its HK$8.2 billion equity placing to its controlling shareholder Sinopharm and two executive directors, and 26 professional and institutional investors

• China Traditional Chinese Medicine (HKSE: 570), in its US$1.43 billion acquisition of a 87.30% stake in Jiangyin Tianjiang Pharmaceutical Co. Ltd.

• Pokka Corporation (Singapore), in its sale of Pokka Corporation (HK) and Pokka Coffee (Macau) to a majority owned subsidiary of Xiao Nan Guo Restaurants Holdings (HKSE: 3666)

2014

• Shanghai Pudong Science and Technology Investment Co., Ltd., a state-owned enterprise under the direct administration of Pudong New Area government of Shanghai, in its US$693 million acquisition of NASDAQ-listed Montage Technology Group Limited

• CCB International, in its purchase of secured notes and warrants issued by China Gui Tea Company Limited

• TPV Technology Limited (HKSE: 903), in its acquisition of the remaining 30% stake in TP Vision, the television joint venture with Koninklijke Philips N.V.

• 21st Century Fox, in its sale of a 49.9% stake in Star China TV to its joint venture partner, China Media Capital

2012–2013

• Beijing Wangfujing International, in its take-private of Hong Kong-listed PCD Stores (Group) Limited

• NCGA Holdings Limited, in its US$305 million acquisition by Baoxin Auto Group (HKSE: 1293)

• CITIC Securities Co., Limited (HKSE: 6030), in its US$1.252 billion purchase from Crédit Agricole Corporate & Investment Bank of CLSA B.V. This deal was named "2012 M&A Deal of the Year (Outbound)" by China Business Law Journal and the “Best FIG Deal for 2013” by FinanceAsia

2011–2012

• TPV Technology Limited (HKSE: 903), in its acquisition of a 70% interest in a joint venture company which owns and controls the entire television business of Koninklijke Philips N.V. in Europe and certain South American countries

Skadden, Arps, Slate, Meagher & Flom (Hong Kong) — Associate, 2011

Mallesons Stephen Jaques (Hong Kong and Beijing) (now King & Wood Mallesons) — Trainee Solicitor, 2006–2008; Associate, 2008–2011