Legal news in brief

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New Shearman joint Asia MP

Lorna Chen has joined Masahisa Ikeda as Shearman & Sterling’s joint Asia managing partner and member of the firm’s executive group. Chen will continue to be the firm’s head of Greater China. She has more than 18 years experience in the investment funds and private equity field, advising clients in structuring and restructuring, formation and operation of alternative investment products and co-investment structures.

US$4bn Woowa acquisition

Delivery Hero, a German food delivery platform, has acquired South Korea’s Woowa Brothers, running South Korea’s largest food delivery app, in a deal valued at US$4 billion, and is forming a Singapore-based joint venture. The transaction resulted in Delivery Hero owning up to 88% of Woowa’s share capital, with the remaining 12% to be exchanged over the next four years.

Delivery Hero was represented by Bae Kim & Lee, WongPartnership and Sullivan & Cromwell. Kim & Chang and Yulchon advised Woowa Brothers and its investors, respectively. In addition, Latham & Watkins also acted as a legal adviser.

Glass maker wraps up IPO

Stephenson Harwood counselled China Hongguang Holdings on its HK$57.75 million (US$7.4 million) listing on the Stock Exchange of Hong Kong. China Hongguang Holdings is a glass manufacturer, specializing in the production of architectural glass products.

The Stephenson Harwood team was led by partner Lin Chun-hui, and included of counsel Alan Ho, associate Pearl Ho, assistant legal managers Pan Zheng Pan and Wang Xiyu, and trainee solicitor Frost Wu.

ORix acquires Kobayashi pie

Japanese law firm Nishimura & Asahi advised ORIX Corporation on its acquisition of a majority shareholding in Kobayashi Kako, a Japanese developer and producer of generic pharmaceuticals. The team was led by partners Toshiyuki Nonaka, Tatsuya Nakayama, Kazumaro Kobayashi, Yasuo Tsukitome and Sakka Kobayashi

Litigators start up

The former managing partner of Cavenagh Law (the Singapore formal law alliance firm of Clifford Chance), Harpreet Singh Nehal, and former counsel at the firm Jordan Tan have launched a boutique disputes practice called Audent Chambers.

The two co-managing partners of Audent Chambers plan to install a tech startup culture into the traditional legal sector by introducing a work anywhere, no fixed hours, unlimited leave work culture.

Audent Chambers established as an advocates-only setup and will take on referral work from other law firms while leading on strategic matters, and the trial and appeal processes, themselves.

Zhao Sheng ISDA member

Linklaters’ China joint operation partner, Zhao Sheng Law Firm, announced its recent membership of the International Swaps and Derivatives Association (ISDA). ISDA is a trade organization of participants in the market for over-the-counter derivatives.

Linklaters Zhao Sheng’s capital markets practice has carried out a variety of work for Chinese and multinational companies, banks and other key players in the sector, delivering sophisticated services covering derivatives, structured products and securitization.

RHTLaw hires consultant

Regional law firm RHTLaw Asia, headquartered in Singapore, has appointed seasoned litigation and arbitration professional Vijay Rai as a senior consultant in its litigation and dispute resolution team. Rai was a founder of VK Rai & Partners, which was then rebranded to Arbiters Inc Law Corporation where he practised for 25 years, specializing in litigation and arbitration.

MoFo launches Lvji’s IPO

Morrison & Foerster’s (MoFo) Hong Kong capital markets team acted for Lvji Technology Holdings, China’s largest online tour guide provider, in its IPO on the Hong Kong stock sechange.

The gross proceeds from the IPO are estimated at approximately HK$561.6 million. The MoFo team was led by corporate partners Ven Tan and Ke Huang, and included corporate associates Diana Tan, Echo Shen, and Rina Charles.

KWM advises on SANVO IPO

King & Wood Mallesons (KWM) counselled China chemicals maker SANVO Fine Chemicals Group in its HK$130 million initial public offering (IPO) on the main board of the Hong Kong stock exchange.

KWM represented the issuer with respect to both Hong Kong and PRC laws. The team was led by partners Wang Jianxue and Anthony Wan, with support from senior associate Matthew Yim, along with You Guojie, Wallace Wong and Rhoda Tsang.

Dentons opens NZ offices

Dentons has opened offices in New Zealand through a partnership with New Zealand practice Kensington Swan. The combined firm, Dentons Kensington Swan, now has the largest international reach of any firm in the New Zealand market.

With the addition of offices in Auckland and Wellington, the alliance with Kensington Swan will give Dentons’ clients access to an additional team of 113 lawyers. Since entering the region in 2016 after merging with Australian firm Gadens, Dentons has been named the fastest growing law firm in Australia.

Withers advises RGD on IPO

Withers KhattarWong advised Indonesia’s Resources Global Development (RGD) in its SG$3 million (US$2.1 million) (comprised of 15 million placement shares at S$0.20 per share) IPO on the Catalist board of Singapore Exchange Securities Trading.

RGD engages in the trading and shipping of coal within Indonesia. The Withers KhattarWong team on the IP was led by corporate partner Leong Chuo Ming and supported by senior associate Low Shan You and associate Chow Su Rin.

Mahindra hails Meru subsidiary

Mahindra and Mahindra in December acquired 36.6% share capital in Meru on completion of its first tranche of investment, and made the cab company a subsidiary of Mahindra. The company had signed a share subscription agreement in August to subscribe up to 55% of the equity share capital in tranches for US$28 million.

“With the first tranche of investment, the shareholding of True North in Meru has been diluted,” said a lawyer at Pioneer Legal who worked on the deal. Pioneer represented the company and existing investor True North. IndusLaw advised Mahindra.