Legal news in brief – November 2021

Legal news in brief

Firm founder joins DLA Piper

DLA Piper has hired Kristi Swartz as a partner in its IP and technology practice in Hong Kong. Swartz joined from a boutique firm she established in 2018 – Swartz Binnersley & Associates – where she was a managing partner. Following her departure, the boutique firm was shut down. Prior to this, she was the Hong Kong managing partner of Bryan Cave since 2013. Swartz has focused on the fintech sector since 2010 and is now a regulatory and licensing expert for fintech businesses.

Linklaters in Razer Delisting

Linklaters advised a consortium comprising the founders of multinational technology company Razer and CVC Capital Partners on the proposed USD1.38 billion management buyout and take-private of Hong Kong-listed company Razer. The team advising Razer’s take-private in Hong Kong was led by partner Gilbert Li, with support from partners Alex Bidlake and Lin Xiaoxi. Singapore-based banking partner Christopher Bradley and HongKong-based antitrust and foreign investment counsel Marcus Pollard assisted with the deal.

Taiwan boosts wind power

White & Case advised China Steel Corporation and Copenhagen Infrastructure Partners as the sponsors for the development and project financing of the 298MW USD1.6 billion Zhong Neng offshore wind project located in Changhua county, Taiwan.

“This is the first time an offshore wind project in Taiwan has been financed primarily by Taiwanese state-owned and commercial banks, making it a watershed project for the Taiwan offshore wind sector,” said Smith. “This signals an unlocking of a deeper pool of domestic capital for offshore wind projects in Taiwan.”

M&A expert joins O’Melveny

O’Melveny & Myers hired capital markets lawyer Kim Woojae as a partner in Seoul. He joined from Korean law firm Kim & Chang, where he was a partner for three years in Seoul. He advises Korean companies on outbound and cross-border matters, as well as to international investment banks and private equity clients in major transactions involving Korean businesses.

Eversheds gets HK partner

Eversheds Sutherland hired Roger Zhou as an equity capital markets partner in Hong Kong. He joined from Morgan Lewis & Bockius, where he was a partner for almost four years. Zhou focuses on capital markets, foreign direct investments in China, M&A, joint ventures and other general corporate matters. He specialises in Hong Kong capital market transactions and general corporate law, with extensive experience in representing issuers and underwriters on all aspects of IPOs, in addition to providing counsel on foreign direct investments in China.

Baker advises KKR Japan buy

Baker McKenzie (Gaikokuho Joint Enterprise) advised global investment company KKR on its acquisition of Central Tank Terminal (CTT), a Japanese chemical storage tank operator from an affiliate of Macquarie Infrastructure and Real Assets (MIRA).

“We are honoured to be involved in KKR’s milestone M&A transaction, their first infrastructure investment in Japan,” said partner Tetsuo Tsujimoto in Tokyo. “KKR’s investment in CTT provides further bolt-on opportunities for CTT growth and will be invaluable to Japanese industry.”

Kakaopay wraps korean listing

Paul Hastings advised Goldman Sachs, JP Morgan and Samsung Securities as the joint bookrunners on the KRW1.53 trillion (USD1.3 billion) global offering and listing of Kakaopay on the Korea Exchange. Kakaopay, a subsidiary of Kakao Corp, operates Korea’s leading mobile financial services platform.

Firsts for wind farm project

White & Case advised Asian Infrastructure Investment Bank (AIIB), European Bank for Reconstruction and Development, and Industrial and Commercial Bank of China on a project financing for Zhanatas Wind-Power Station’s construction and operation of a 100MW wind farm in South Kazakhstan, one of the largest in Central Asia. This is the first wind farm developed in Kazakhstan under a project finance structure, the first renewables project in Central Asia to be funded by the AIIB, and the first wind farm in Central Asia to be developed by a Chinese energy developer.

Digital Core REIT goes public

Allen & Gledhill advised Digital Core REIT, a Singapore real estate investment trust sponsored by US-listed data centres operator Digital Realty, on its USD977 million IPO. The firm was also appointed as independent tax adviser.