David Yun

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

• the CITIC, CITIC Capital and Carlyle Asia consortium in their US$2.1 billion acquisition of McDonald’s mainland China and Hong Kong business;

• COFCO Coca-Cola Beverages in its RMB3.4 billion acquisition of certain bottling operations in China from The Coca-Cola Company and Swire Beverages, and in its RMB2.1 billion auction sale of certain bottling operations in China to Swire Beverages;

• Baoxin Auto in its US$400 million issue of perpetual bonds;

• Oceanwide Holdings in its HK$1.1 billion acquisition of a controlling interest in Quam and the subsequent HK$1.1 billion takeover of Quam;

• Ascendent Capital, as consortium member and lender, in the HK$1.3 billion takeover of China Automation Group and the related financing;

• the creditors of Scholz Holding in their €524 million sale of debt to Chiho-Tiande;

• Tibet Water Resources in its HK$525 million issue of convertible bonds to Tyee Capital and related funds;

• Hydoo International in its US$250 million issue of high yield notes in several tranches;

• Carlyle Asia in its HK$731 million subscription of convertible bonds and acquisition of a substantial interest in MicroPort Scientific Corporation;

• the steering committee of bondholders in the US$2.5 billion offshore debt restructuring of Kaisa Group;

• China Oceanwide in its US$252 million acquisition of a real estate development project in Los Angeles and an Indonesian power project;

• Crestview Partners in its C$867 million sale of Stackpole International to Johnson Electric;

• China Traditional Chinese Medicine in its RMB8.9 billion acquisition of Jiangyin Tianjiang Pharmaceutical and its related HK$8.2 billion concurrent equity placing to 29 strategic investors;

• Hydoo International in its US$120 million issue of convertible notes to Ping An Real Estate;

• Bain Capital in the HK$5.6 billion divestments of its substantial interests in various Hong Kong listed companies, involving Sunac China, Greatview Aseptic Packaging, GOME Electrical Appliances and Sinomedia;

• CITIC Securities International, as one of the 8 pre-IPO strategic investors, in their RMB14.5 billion subscription of a significant interest in China Huarong Asset Management;

• CITIC PE, CDH Capital and New Horizon Capital, as selling shareholders, in the HK$6.6 billion IPO of Luye Pharma Group;

• Zebra Technologies in its US$3.5 billion acquisition of Motorola Solutions’ enterprise business;

• Winteam Pharmaceutical in its RMB2.6 billion acquisition of Tongjitang Chinese Medicine and its related HK$1.3 billion equity placing;

• SPG Land in the HK$4.3 billion subscription of new shares by Greenland Holding Group for a controlling interest in SPG Land and the related capital restructuring;

• SPG Land in the RMB1.1 billion sale of its 50% interest in the Peninsula Hotel, Residences and Arcade in Shanghai;

• Wangfujing International in its HK$2 billion acquisition of a controlling interest in PCD Stores, the related HK$3.1 billion takeover of PCD Stores and the related acquisition financing;

• NCGA Holdings in its US$305 million takeover by Baoxin Auto;

• Kellogg Company in its 50:50 PRC snack-food joint venture with Wilmar International;

• Cartesian Capital in its PRC joint venture to open 1,000 BK restaurants in China with Burger King and the Kurdoglu family;

• Goldman Sachs, as financial adviser, in Guangzhou Pharmaceutical’s RMB5.9 billion takeover of Baiyunshan Pharmaceutical and related assets;

• Arsenal Capital in its sale of Novolyte Technologies to BASF;

• Citigroup, as financial adviser, in Sinopec’s and ENN Energy’s proposed HK$16.7 billion hostile takeover of China Gas;

• International Mining Machinery in its HK$6.7 billion takeover by Joy Global;

• TJCC Holdings in its HK$4.5 billion sale of a controlling interest in IMM;

• Goldman Sachs, as financial adviser, in Yum! Brands’ HK$4.6 billion takeover of Little Sheep Group; and

• True Innovations in its sale of a private furniture business to Li & Fung.

Prior to joining Kirkland & Ellis, David had a leading role on various merger and acquisition matters including the following:

• JP Morgan, as financial adviser, in Asia Packaging’s HK$1.4 billion sale of a controlling interest in Hung Hing Printing Group, and the related Takeovers Panel ruling;

• Merrill Lynch, as financial adviser, in Shui On’s HK$660 million partial offer for Shui On Construction;

• Citigroup, as special adviser, in Tidetime Sun Group’s HK$7.8 billion acquisition of Up Energy Group;

• JP Morgan, as financial adviser, in Li & Fung’s HK$7.3 billion privatisation of Integrated Distribution Services Group;

• Goldman Sachs and ICBC International, as financial advisers, in ICBC’s HK$10.8 billion privatisation of ICBC (Asia);

• JP Morgan, as financial adviser, in Nippon Paper’s HK$3.6 billion acquisition of a substantial interest in Lee & Man Paper;

• Morgan Stanley, Merrill Lynch and CITIC Securities, as joint financial advisers and underwriters, in Tianjin Port Development’s HK$11 billion acquisition of Tianjin Port Holdings and the related HK$2.5 billion equity placing;

• Meadville Holdings in its HK$6.8 billion privatisation by the Tang Family and TTM Technologies (by way of asset sales and voluntary delisting);

• Citigroup, as financial adviser, in Standard Cosmos’ HK$2.5 billion takeover of Natural Beauty Bio-Technology;

• Morgan Stanley, as financial adviser and underwriter, in G-Resources Group’s US$232 million acquisition of the Martabe gold and silver project, and the related HK$4.6 billion concurrent equity placing to over 30 strategic investors;

• Delta Networks in its HK$1.1 billion privatisation by Delta Electronics;

• Pacific Century Regional Developments, as the joint offeror with China Netcom, in their HK$15.9 billion proposed privatisation of PCCW;

• Nomura Holdings in its acquisition of the Asia-Pacific operations of Lehman Brothers Holdings;

• The Coca-Cola Company in its HK$19.4 billion proposed takeover of China Huiyuan Juice Group;

• JP Morgan, as financial adviser, in China Unicom’s HK$656.3 billion merger with China Netcom;

• UBS, as financial adviser, in China Telecom’s RMB43.8 billion acquisition of a CDMA mobile phone business and China Telecommunications’ RMB66.2 billion acquisition of a CDMA mobile phone network;

• Mission Hills in its HK$1.2 billion takeover of Hsin Chong Construction;

• Galaxy Entertainment in Permira’s HK$6.5 billion acquisition of a substantial interest in Galaxy Entertainment, its related HK$2.6 billion debt restructuring and HK$1.3 billion equity placing;

• American Standard in the US$1.8 billion sale of its global kitchen and bath business to Bain Capital, including the Hong Kong listed A-S China Plumbing Products;

• Citigroup, as financial adviser, in Star Cruises’ US$1 billion sale of a 50% interest in NCL Corporation;

• China Merchants in its HK$13.2 billion merger of three container terminals in Shekou involving Swire Pacific, P&O and Modern Terminals;

• BBVA in its HK$4.9 billion acquisition of a substantial interest in CITIC International Financial Holdings and its €501 million acquisition of a substantial interest in China CITIC Bank;

• Kerry Holdings in its sale of Kerry Beverages to The Coca-Cola Company;

• Merrill Lynch and CICC, as financial advisers to both Air China and CNAC, in the HK$17.7 billion reorganisation of the aviation industry involving Air China, Cathay Pacific, Dragon Air, CNAC, CITIC Pacific and Swire Pacific;

• Merrill Lynch and CICC, as financial advisers to Air China, in Air China’s HK$3.1 billion privatisation of CNAC and the related HK$4.7 billion financing;

• The Link Management, as manager and issuer, in the HK$33.4 billion acquisition of a portfolio of retail and carpark facilities by The Link REIT;

• Sino Forest in its US$210 million forestry plantation joint venture with Mandra, and Mandra Forestry’s related US$195 million offering of high yield bonds;

• Guoco Group, together with the Lui Family, in their HK$18.4 billion reverse takeover of K Wah Construction Materials through the injection of the Galaxy Casino;

• Morgan Stanley, as financial adviser, in Angang New Steel’s RMB19.7 billion acquisition of Angang New Steel and Iron Company, and the related RMB19.5 billion rights issue and equity placing by Angang New Steel;

• BP, as substantial shareholder, in the HK$7.7 billion privatisation of Sinopec Zhenhai Refining & Chemicals by Sinopec Corporation;

• China Mobile in its HK$3.4 billion takeover of China Resources Peoples Telephone;

• Morgan Stanley, as financial adviser, in the HK$3.9 billion privatisation of Sinopec Beijing Yanhua Petrochemical Company by Sinopec Corporation;

• Citigroup, as financial adviser, underwriter and lender, in the HK$1.7 billion takeover of Elec & Eltek in Hong Kong, the US$205 million takeover of Elec & Eltek in Singapore, and the related HK$8.2 billion debt and equity financing;

• PCCW in its HK$11.1 billion reverse takeover of Dong Fang Gas through the injection of the Cyberport and other property assets and the related placing of Dong Fang Gas shares by PCCW;

• Citigroup, as financial adviser and sole underwriter, in the HK$10.5 billion reverse takeover of Vanda System through the injection of Hutchison Global Communications by Hutchison Whampoa and the related placing of Vanda System shares by Hutchison Whampoa;

• Pacific Ports in its HK$10.9 billion acquisition of various Hong Kong construction, management, transport and other services businesses and its HK$10.2 billion acquisition of various PRC, Hong Kong and Macau infrastructure projects;

• Century City, Paliburg and Regal Hotels in their HK$5.4 billion group and debt restructuring;

• China Motor Bus in its HK$4.2 billion hostile takeover by Asia Time Investments;

• CITIC Ka Wah Bank in its HK$4.2 billion acquisition of The Hong Kong and Chinese Bank and the related financing through a rights issue of shares;

• Guoco Group in its HK$5.9 billion general offer to repurchase shares;

• Morgan Stanley, as financial adviser, in Hong Kong and China Gas’ HK$4.1 billion general offer to repurchase shares;

• Morgan Stanley, as financial adviser, in Guoco Group’s HK$32.2 billion sale of its controlling interest in Dao Heng Bank;

• China Merchants in the HK$1.8 billion sale of its controlling interest in Union Bank;

• Singapore Telecom in its proposed merger with Hongkong Telecom in competition with the HK$300 billion takeover offer by PCCW;

• Pacific Ports in its HK$4.7 billion acquisition of port and port-related investments;

• National Mutual in its HK$4 billion privatisation of AXA China Region;

• the liquidators of Peregrine Investments in the sale of various investments held by Peregrine Direct Investments;

• Shangri-La Asia in its HK$5.3 billion simultaneous takeovers of three public companies in the hotel industry respectively listed in Thailand, Malaysia and Singapore;

• DBS Bank in its HK$4.3 billion takeover of Kwong On Bank;

• Consolidated Electric Power Asia in its HK$24.7 billion takeover by the Southern Energy Group; and

• Shangri-La Asia in its HK$8 billion series of acquisitions of 19 hotels and associated property projects in Asia and the PRC and a group of international hotel management companies.

David’s capital markets experience includes representation of underwriters and issuers in numerous equity and debt transactions involving:

• various initial public offerings, including the HK$21.3 billion IPO of The Link REIT;

• various rights issues and open offers, including the HK$5.3 billion rights issue for New World Development and the HK$4.6 billion rights issue for China Oceanwide; and

• over 120 placing transactions (top-up, primary shares and secondary shares), including the HK$50.9 billion placing of China Mobile shares by Vodafone and the HK$24 billion placing of new H shares by China Galaxy Securities.

Whilst David specialises in the area of Hong Kong and regional M&A (for both public and private work), David also advises on pre-IPO restructuring, secondary offering, corporate restructuring, corporate governance, regulatory, compliance, debt financing, tax, stamp duty and employment matters as part of his full service corporate practice.

Skadden, Arps, Slate, Meagher & Flom, Hong Kong, 2007–2011

Linklaters, Hong Kong, 1999–2007

Clifford Chance, Hong Kong, 1994–1999

Blake Dawson Waldron, Sydney, 1992–1994

David is actively involved in pro bono legal work for charitable organisations and through his network in the community.