Chuan Li - Partner

KIRKLAND & ELLIS INTERNATIONAL LLP

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Chuan Li

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Shanghai
Phone: +86 21-3857-6336
Fax: +86 21-3857-6301
Beijing
Phone: +86 10 5737 9306
Fax: +86 10 5737 9301
Overview News Events Publications

Professional Profile

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Chuan Li is a senior corporate partner based in the Firm's mainland China offices, splitting his time between Shanghai and Beijing.

Chuan focuses his practice on cross-border mergers and acquisitions and other complex corporate and private equity transactions. Chuan has more than ten years of experience in representing strategic and private equity clients in a variety of transactions including acquisitions, divestitures, joint ventures, leveraged buyouts, going private transactions, PIPEs, growth equity investments and formation of private equity funds in the U.S., Greater China and other Asian countries. Chuan has also represented Chinese companies in their outbound investments and other strategic and financing transactions outside China. 

A native Chinese speaker with legal training in both China and the U.S., Chuan joined the Chicago office of Kirkland & Ellis in 2001 and is a founding partner of the Firm's Hong Kong, Shanghai, and most recently, Beijing offices.

Chuan has been recognized as a leading lawyer in private equity and corporate/M&A in Hong Kong and China by Chambers Asia Pacific 2008-2014, Chambers Global 2011, IFLR 1000 2011, and Legal 500 Asia Pacific 2013.


Representative Matters

Asia/China Deals

Bristol-Myers Squibb in its $4.3 billion sale to AstraZeneca of its interest in the companies' diabetes alliance, including the related sale of assets from its China joint venture to AstraZeneca

IGM Resins, Inc. in its acquisition of Insight High Technology Group, the leading manufacturer of photoinitiators, pharmaceutical intermediates and fine chemicals in China

Tenneco Inc. in its acquisition of the equity interests in its PRC joint venture from its joint venture partner

A Chinese investor in its proposed investment in an European soccer club

Hawker Beechcraft, a major U.S. business jet company, in its proposed sale to a Chinese buyer

Blackstone Group in its proposed bid for acquiring Dell

Kerzner International in its Atlantis resort project in Hainan, China with Fosun International Ltd

Tudou Holdings Limited, a NASDAQ-listed company, in its US$2 billion stock-for-stock merger with NYSE-listed Youku Inc. This transaction created China's largest online video business and was named "2012 M&A Deal of the Year" by China Law & Practice and "2012 M&A Deal of the Year (Inbound & Domestic)" by China Business Law Journal

FTV Capital in its growth equity investment in eBaoTech

Kellogg Company in connection with 50:50 joint venture between Kellogg Company and Wilmar International for the manufacture, sale and distribution of cereal and snacks in China

Cartesian Capital Group and its portfolio company in their acquisition of Burger King China Business

Kellogg Company in its sale of its Chinese biscuit business

Terra Firma and its portfolio companies in their Chinese joint venture investment transactions

Xiu.Com in its Series B Financing from Warburg Pincus LLC and Kleiner Perkins Caufield & Byers

Koor Industries in its US$2.4 billion going-private sale of Makhteshim Agan Industries to China National Chemical Corporation. This transaction was named "2011 Deal of the Year (Outbound M&A)" by China Business Law Journal

Sensata Technologies in its acquisition of automotive-on-board sensor assets of Honeywell S&C

Blue Point Capital Partners in its growth equity investment in Beijing based Haya Architects

Callison in its acquisition of a controlling stake in Haya Architects, a Chinese architectural company

Oaktree Capital Management in its consortium equity investment in a Chinese mining company

Bain Capital in its PIPE investment in GOME Electrical Appliances Holding Limited

Kellogg Company in its acquisition of a Chinese cookie and cracker maker, Zhenghang Food Company Ltd., through a majority-owned subsidiary

Oaktree Capital Management in its growth equity investment in a Chinese technology company

Merrill Lynch Private Equity Asia in its consortium equity investment in a public Japan financial institution

STATS ChipPac in its S$2.3 billion going-private takeover by Temasek

A U.S. private equity sponsor in its formation of a $1 billion Asian private equity fund

Bain Capital in its acquisition of three Chinese foreign invested companies in connection with a transnational leveraged buyout

Sun Capital Partners in its purchases of assets from two Chinese joint venture companies

Vestar Capital Partners in its acquisition of five Chinese foreign invested companies in connection with a transnational leverage buyout

Global and U.S. Deals

$10.2 billion leveraged buyout of the semiconductor business of Phillips Electronics N.V. by Kohlberg Kravis Roberts, Bain Capital, Silver Lake Partners and AlpInvest

$3 billion leveraged buyout of the sensors and controls business of Texas Instruments by Bain Capital

$1.55 billion leveraged recapitalization of Cinemark, Inc. by Madison Dearborn Partners

$1.37 billion asset sale of Conseco Finance Corp. to General Electric Capital Corporation and a joint venture of Fortress Investment Group LLC, J.C. Flowers & Co., LLC, and Cerberus Capital Management, L.P.

$850 million going private sale of NES Rentals Holdings, Inc. to Diamond Castle Holdings LLC

$600 million senior credit financing of the acquisition of a controlling stake in Unisource Worldwide, Inc. by Bain Capital

$575 million first lien and second lien senior credit facilities of NES Rental Holdings, Inc.

$260 million offshore private equity fund formation by a private equity sponsor

$196 million sale of the tank rental business of NES Rental Holdings, Inc. to Odyssey Investment Partners

$170 million U.S. venture capital fund formation by a private equity sponsor

$3.75 billion convertible bonds offering by General Motors Corporation

$55 billion long term strategic financing facility of General Motors Acceptance Corporation involving sales of retail automotive assets to Bank of America over a five-year period

Brantley Partners' senior/subordinated debt and equity financing of a mezzanine investment company

Code Hennessey & Simmons' various matters with respect to an industrial portfolio company: (i) equity and senior/subordinated debt restructuring; (ii) senior debt refinancing; (iii) structuring and implementation of a management equity incentive plan; and (iv) proposed auction sale of the company

INVESCO Private Capital's fund formation and general corporate matters

Liberty Partners' acquisition of a nursing services company and two subsequent add-on acquisitions

Liberty Partners' acquisition of a technology company and related senior and subordinated debt financing

Liberty Partners' convertible bridge loan financing of, two subsequent rounds of preferred stock investment in, and exit sale of, a healthcare portfolio company

Parthenon Capital's preferred stock investment in, equity restructuring, and exit sale of, a medical services portfolio company

Vedanta Capital's fund formation and general corporate matters

United Airlines' restructuring of aircraft lease financing and public debt financing in connection with its bankruptcy filing


Publications

"China's National Security Review for Inbound Acquisitions," Kirkland Private Equity Newsletter (PEN), March 11, 2011 (with Pierre-Luc Arsenault and Jing Li)

"RMB Funds: New Shanghai Pilot Program," Kirkland Private Equity Newsletter (PEN), January 11, 2011 (with Justin Dolling and Carol Liu)

"China's New Antitrust Law Puts New Burdens on Companies Doing Business in China," Kirkland Private Equity Newsletter, August 22, 2008, and Kirkland & Ellis LLP Alert, August 2008 (with Mark L. Kovner, Micah N. Hildebrand and David Patrick Eich)

"The Evolution of Entrepreneurialism: An Introduction to Private Equity," Private Equity, Does China Need It? April 2007 (with David Patrick Eich and Jesse Sheley)

"China Oks Equity Incentives for Managers," Buyouts, March 5, 2007 (with David Patrick Eich and Camden Hutchison)

"Private Equity Investments in China: Impact of Recent Legal Reforms," Venture Capital Review, Fall 2006 (with David Patrick Eich)

"A Moving Target: A Guide to Recent Chinese M&A and Private Equity Reform," International Finance & Law Review, October 2006 (with David Patrick Eich and Tai Hsia)

"New Rules for Chinese Company M&A Transactions Involving Foreign Investors," Kirkland Private Equity Newsletter (PEN), September 1, 2006 (with David Patrick Eich and Tai Hsia)

"Non-Performing Loans in China: A Potential Win-Win Opportunity for Foreign Investors and China's Economy," Financier Worldwide Global Restructuring & Insolvency Review, June 2004 (with James Sprayregen, Jonathan Friedland and Nicole Miller)

"Gauging the Hurdle to Strike Suits: Reconciling the Circuit Split over the Proper Interpretation of the Heightened Pleading Standard under the Private Securities Litigation Reform Act of 1995," Journal Of Corporation Law, Winter 2001

Seminars

Lecturer, "Chinese Private Equity Investment Transactions and Legal Documentation," Beijing Private Equity Association, Beijing, China, October 22, 2010

Lecturer, "International Practice of Private Equity Funds," Shanghai Private Equity Association, Shanghai, China, September 28, 2010

Lecturer, "Doing the Deal: Emerging Issues in M&A by Outbound Chinese Investors," Tsinghua University China Center of Financial Research, Private Equity and Venture Capital Institute, Tsinghua University, Beijing, China, May 14, 2010

Lecturer, "International Practice of Private Equity Funds," Beijing Private Equity Association, Beijing, China, April 15, 2010

Lecturer, "Doing the Deal: Minority Private Equity Investments in China," Tsinghua University China Center of Financial Research, Private Equity and Venture Capital Institute, Tsinghua University, Beijing, China, March 23, 2010

Speaker and panelist, "Emerging Issues in Cross-Border Acquisitions: Japan, China and the U.S.," a joint client seminar by Mori Hamada & Matsumoto and Kirkland & Ellis International LLP, Tokyo, Japan, December 2009

Panelist, "Understanding Private Equity Investment in the PRC for Optimal Strategy Implementation," Private Equity Asia IQ 2009 Conference, Hong Kong, February 18, 2009

Speaker, "Amplifying Entrepreneurship: The Power of Private Equity," Inaugural Workshop of the Tsinghua University Private Equity Institute, Beijing, People's Republic of China, April 17, 2008 (with David Patrick Eich)

Moderator, "An Introduction to Private Equity in China," Inaugural Workshop of the Tsinghua University Private Equity Institute, Beijing, People's Republic of China, April 17, 2008 (with David Patrick Eich)

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