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.
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