Firm / Organisation

Sullivan & Cromwell LLP

This content is provided by Sullivan & Cromwell LLP.

Chairman: Joseph C Shenker
Senior Chairman: H Rodgin Cohen
Number of partners worldwide: 171
Number of lawyers worldwide: Approximately 80
International Offices: Brussels, Frankfurt, London, Paris, Los Angeles, Palo Alto, New York, Washington DC

Firm Overview:
Sullivan & Cromwell LLP provides the highest quality legal advice and representation to clients worldwide. The firm’s record of success and unparalleled client service has set it apart for more than 140 years and made the firm a model for the modern practice of law.
Today, S&C is a leader in each of its core practice areas and geographic markets. The firm is committed to clients and transactions in the Asia Pacific region, which have formed an important part of its practice since the 1920s. S&C is a recognised leader in advising a diverse range of clients on major domestic and cross-border capital markets, M&A, corporate finance, private equity, privatisation and project finance matters in the Asia Pacific region. Its clients are spread throughout the region and make up over 27% of S&C’s non-US clients. With about 50 lawyers spanning across Beijing, Hong Kong, Melbourne, Sydney and Tokyo, S&C is proud to have served these clients in first-of-their-kind, innovative transactions, many of which were singled out as landmark transactions for the region

Main Areas of Practice:

Capital Markets:

In the past ten years S&C has been involved in more SEC-registered and Rule 144A offerings by non-US issuers than any other firm as measured by aggregate value, according to ThomsonOne. The firm has been involved in six of the top ten IPOs of all-time, which include Asian issuers Alibaba Group, SoftBank Corp., ICBC, AIA Group and NTT Mobile Communications Network. S&C has recently advised on the largest IPO globally in the education sector (China East Education), the second largest IPO globally in 2019 at the time of offering (Bud APAC), and the largest nonprivatization IPO in Australia history (Viva Energy Group). Other recent significant IPOs on which the firm has advised on include BeiGene, China Tobacco International (HK), Coronado Global Resources, Mulsanne Group and IntelliCentrics. S&C’s Asia-Pacific offices also regularly advise on other complex and significant capital markets transactions in the region, including the largest dollar-denominated bond offering by a Japanese issuer in history (Takeda Pharmaceutical’s $5.5 billion notes offering), the largest debut euro-denominated unsecured bond offering in history (Takeda Pharmaceutical’s €7.5 billion notes offering), as well as the largest debut offering by an Australian issuer in recent years (Mineral Resources Limited’s $700 million notes offering). Other highlights include representing issuers or underwriters in equity or debt offerings by Activia Properties, Amcor Limited, ARUHI Corporation, China Mengniu Dairy, Chong Hing Bank, Commonwealth Bank of Australia, Fortescue Metals Group, Japan Post Insurance, Recruit Holdings, Suning.com, Taiwan Cement Corporation, Tokyo Fudosan, Woodside Petroleum and Yakult Honsha.

Mergers & Acquisitions/Private Equity:
S&C has advised on numerous important M&A transactions involving Asia-Pacific corporations and has represented many large corporations in their strategic investments from the negotiation process through to the final closing of the transaction. The firm ranks first among US law firms on Asia-Pacific M&A transactions in the past ten years, according to ThomsonOne. Recent representative transactions include advising on Anheuser-Busch InBev’s joint ventures with Jebsen Beverage, BHP’s sale of its onshore US oil and gas assets to BP America, Bitmain Technologies’ investment in Circle Internet Financial Limited, Booking Holdings’ investments in DiDi Chuxing and Yanolja, C.banner International’s sale of Hamleys Global Holdings, China Three Gorges-led consortium’s acquisition of Empresa de Generación Huallaga, ENN Ecological Holdings’ acquisition of a 32.83% interest in ENN Energy Holdings as part of an intra-group restructuring, ITOCHU Corporation’s acquisition of the common shares of DESCENTE LTD., Nippon Steel & Sumitomo Metal Corporation’s acquisition of Nisshin Steel Co., NWS Holdings’ (a member of the New World group) acquisition of the entire issued share capital in FTLife Insuance, Showa Shell Sekiyu K.K.’s acquisition by Idemitsu Kosan Co., Spirit AeroSystems International Holdings’ divestiture to HAECO from HAECO Composite Structures (Jinjiang) Co., Ltd., Suning.com’s acquisition of DIA Group’s operations in China, Taiwan Cement Corporation’s investment in OYAK, Takeda Pharmaceutical’s acquisition of Shire, and Tokio Marine Holdings’ sale of Tokio Millennium Re and Tokio Millennium Re (U.K.) Limited.

Project & Leveraged Finance:
S&C’s project and leveraged finance practice is widely noted for advising on transformative project and leveraged finance transactions across the globe, often with a complex cross-border element. S&C’s practice is characterized by regularly advising on the ‘first-of’ or the ‘largest’ transactions in a country or region. S&C has a well-earned reputation for its skill and innovation in structuring projects and financings to get the deal done. S&C’s experience in the Asia-Pacific region stands head and shoulders above other international law firms of the same caliber, including Australia Pacific LNG Project and Refinancing, Batu Hijau Project and Refinancing, Huallaga Holding Company Financing, North West Shelf LNG, Oyu Tolgoi Project, PNG LNG, Tengizchevroil Project and WuXi PharmaTech’s financing for its going-private transaction.

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