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: 170
Number of lawyers worldwide: Approximately 875
Asia Pacific Offices: Melbourne, Sydney, Beijing, Hong Kong, Tokyo
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 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 five years S&C has been involved in more debt and equity offerings by non-US issuers than any other firm, as measured by the aggregate value and the total number of SEC-registered and Rule 144A offerings, as reported by Thomson Reuters. It has been involved in five of the ten largest IPOs of all-time, which include Asian issuers Alibaba Group, Industrial and Commercial Bank of China, AIA Group and NTT Mobile Communications Network. Recent significant IPOs on which the firm has advised issuers, underwriters or selling shareholders include AK Medical, BeiGene, CSMall Group, Foxconn Interconnect Technology, Redsun Properties Group, SG Holdings, Viva Energy Group and Zhongyuan Bank. S&C’s Asia-Pacific offices also regularly advise on other complex and significant equity offerings in the region. S&C has a strong track record across the Asia-Pacific region in debt capital markets transactions. S&C has recently advised the underwriters in Alibaba Group’s $7 billion notes offering, the largest corporate bond issue out of Asia at the time of offering in 2017. Other recent highlights include representing issuers or underwriters in debt or notes offerings by Amcor Limited, APA Group, Ausgrid Group, China Mengniu Dairy, Commonwealth Bank of Australia, Dai-ichi Life Insurance, Daiwa Securities, Fortescue Metals Group, Mitsui Fudosan, Macquarie Group, SoftBank Group and Taikang Insurance.

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 transactions. S&C has advised principals and financial advisers on a greater value of M&A transactions in the Asia Pacific region than any other US-based firms from 2007 to 2017, according to Thomson One. Recent representative transactions include advising Aviva plc in its sale of shares in Aviva Life Insurance (Hong Kong) to Hillhouse Capital and Tencent to develop an insurance company in Hong Kong; an affiliate of Bitmain Technologies Limited as the lead investor in an $110 million Series E equity investment in Circle Internet Financial Limited; BHP in its agreement to sell Cerro Colorado copper mine in Chile to private equity manager EMR Capital; Booking Holdings in its strategic partnership with Didi Chuxing; C.banner International in its acquisition of 45.78% of the issued share capital of EtonKids Educational Group Limited and its proposed acquisition of 51% equity interest in House of Fraser Group Limited; Credit Suisse as financial adviser to the independent committee of the board of directors of Alibaba Group in connection with Alibaba’s agreement to acquire a 33% equity interest in Ant Financial; Recruit Holdings in its acquisition of Glassdoor; Spirit AeroSystems in its disposal of equity interest in HAECO Composite Structures (Jinjiang) Co., Ltd., a sino-foreign joint venture established by Spirit, HAECO and certain other shareholders; and Suning.com in its acquisition of DIA Group’s operations in China.

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 characterised 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, Batu Hijau Copper and Gold Project, BGP Inc. Convertible Bridge Financing Loan, BTC Pipeline Project, Caspian Pipeline Consortium Expansion Financing, China Minmetals Joint Venture, Focus Media Leveraged Buyout and Leveraged Financing, Fortescue Metals Group Term Loan B Financing, Oyu Tolgoi Copper and Gold Project, Papua New Guinea LNG Project, Shandong Huaneng Electric Power Development, Sierra Gorda SCM Project and Tengizchevroil Project.

Contributions

Total 2 contributions

Corporate Governance 2019 Law and Practice in USA

Matthew Hurd, Melissa Sawyer, Scott Crofton

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Corporate M&A 2019 Introduction

Joseph B. Frumkin

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