Weil Gotshal & Manges is developing a strong M&A practice inspired by the firm's private equity and M&A clients. Though a relatively new player in the Hong Kong scene, Weil has been receiving high praise from their M&A clients this year....
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Weil Gotshal & Manges is developing a strong M&A practice inspired by the firm's private equity and M&A clients. Though a relatively new player in the Hong Kong scene, Weil has been receiving high praise from their M&A clients this year. "On the experience level they're very good," one client tells us. "Sometimes they exceed their role in helping the client. They are very responsive to clients' needs."
Partner Akiko Mikumo also receives laudations from clients, as one client tells us that, "the combination of experience and technical ability is the entry point for her on every transaction and from a technical perspective I have no questions. If I differentiate between counsel, we have to determine their strategic and tactical judgment and problem solving ability. She is excellent on both counts. In the context of game theory and competitive bidding she's been able to highlight course of action that are prudent and innovative, and she brings really solid judgment to the table."
Weil's M&A team is currently advising General Electric in its agreement with Chinese state-owned aircraft producer Aviation Industry Corp (AVIC) to form a China-based joint venture company for the development and marketing of integrated avionics systems. The joint venture is closely watched in the market as it will be the first of its kind in China and has even been commented on by President Hu Jintao.
Weil's clients have praise for the technical ability and business sense that the partners bring to transactions. "Steven Xiang and Tony Wang gave us good advice on how to pitch our bids, and helped us with the China aspect. From a technical perspective it was impressive," says one. "It was important that we formed a good relationship with the entrepreneur, so Weil's help in dealing with him added value. The advice was commercial, clear, straightforward, and not too legalistic. Tony Wang did especially excellent work."
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Weil has successfully applied its top international name in private equity to its work in Hong Kong, with the practice that seems to be continually growing and garnering increasingly prominent mandates from the top private equity players. Clients seem impressed with the expertise and accessibility of Weil's partners, as one says: "They are very responsive, and always available when we need to speak on urgent matters relating to China private equity deals....
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Weil has successfully applied its top international name in private equity to its work in Hong Kong, with the practice that seems to be continually growing and garnering increasingly prominent mandates from the top private equity players. Clients seem impressed with the expertise and accessibility of Weil's partners, as one says: "They are very responsive, and always available when we need to speak on urgent matters relating to China private equity deals. They're really on top of things - many firms seem to rely on their PRC (People's Republic of China) associates too much because they don't really know what's going on with Chinese law, but Tony Wang really does know what's going on."
Weil's private equity practice in Hong Kong is headed by partner Peter Feist, who is well respected by clients:"Weil has very technical legal abilities and is very very detailed. Peter Feist is a top private equity lawyer."
In January 2011, Weil advised an investor consortium comprised of Charles Chan, Cher Wong and Providence equity partners in the high-profile acquisition of a 26% stake in Television Broadcast (TVB). The deal was closely watched in the market because of TVB's fame in Hong Kong and its status as one of the world's leading Chinese broadcasters. The consortium acquired their stake as a result of purchasing Shaw Brothers (Hong Kong) from Sir Run Shaw and Mona Fong.
Last year, Weil also represented Unitas Capital on its $758 million acquisition of international transport solutions provider Hyva holdings. A lot of interest was generated in the deal with a number of other bidders taking substantial interest before the deal was closed. This was partly due to Hyva's presence in the Bric countries and the great potential for growth in such areas.
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Weil Gotshal & Manges has been a rising star in the fund formation space this year, having obtained top funds partner John Fadely from Clifford Chance (a trick the firm repeated later in London taking another team from the UK firm) and setting him up with a strong team to establish Weil's Hong Kong practice. Indeed, many clients have followed Fadely to his new firm and proved a catalyst for the new practice....
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Weil Gotshal & Manges has been a rising star in the fund formation space this year, having obtained top funds partner John Fadely from Clifford Chance (a trick the firm repeated later in London taking another team from the UK firm) and setting him up with a strong team to establish Weil's Hong Kong practice. Indeed, many clients have followed Fadely to his new firm and proved a catalyst for the new practice.
Most of Weil's partners - including Fadely - are fluent in Mandarin, which is an asset to clients who aim to form China-focused funds and Rmb funds. The firm's Hong Kong law capability also means that Weil can advise clients on local fund regulations.
Clients have high praise for Fadely and the practice that he is building at Weil. "He gets to the point very quickly, and we don't waste time in this business. He is always involved. His team is relatively new in Asia-last year he didn't have a team and was on his own. Now he's got Jason Nelms in Hong Kong and more lawyers in Beijing and Hong Kong. He gives a lot of time to clients and works very hard. John's also a very nice guy. His clients trust his judgment and technical skills, and he fights for them in a good and honest way."
Another loyal client adds that, "John is an experienced funds lawyer and was able to advise not only from a pure documentation perspective, but also from an industry practice point of view. Moreover, he is an extremely commercial lawyer and provides value-added input into preferred approaches to take, key issues and negotiation strategies. He also makes a tough negotiator, and is therefore an asset to have if your deal involves heavy negotiation against tricky personalities."
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