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Asian Legal Business Article on MoFo’s Involvement in $350 Million Burger King China JV deal

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Asian Legal Business (ALB)’s recent article has mentioned Morrison Foerster’s role as the legal advisor to Chinese firm CPE on...

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Asian Legal Business (ALB)’s recent article has mentioned Morrison Foerster’s role as the legal advisor to Chinese firm CPE on its $350 million joint venture deal with the U.S. company Restaurant Brands International (RBI) to further localize Burger King’s business in China. Following the transaction, CPE will hold an 83% stake in the business, while RBI will retain approximately 17% and a seat on the board.MoFo’s deal team is co-led by PE/M&A Partner Xiaoxi Lin (Hong Kong) and M&A and Technology Transactions Partner Chuan Sun (Shanghai/Hong Kong), supported by PE/M&A Partner Joseph Sulzbach (New York).<a href="https://china.legalbusinessonline.com/index.php/deals/%E5%87%AF%E6%98%93%E3%80%81%E6%B5%B7%E9%97%AE%E3%80%81%E7%BE%8E%E5%AF%8C%E3%80%81%E5%90%9B%E5%90%88%E5%8A%A9%E5%8A%9B%E6%B1%89%E5%A0%A1%E7%8E%8B35%E4%BA%BF%E7%BE%8E%E5%85%83%E5%87%BA%E5%94%AE%E4%B8%AD%E5%9B%BD%E4%B8%9A%E5%8A%A1%EF%BC%88zhen%EF%BC%89" target="_blank">Read more</a>.

Asian Legal Business Article on MoFo’s Involvement in $350 Million Burger King China JV deal

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Xiaoxi Lin has over 15 years’ experience advising private equity and investment fund clients on their most complex and strategic transactions, including control and leveraged buyouts, growth capital investments and public takeovers.Xiaoxi is one of the most experienced practitioners in Asia in U.S. public transactions, including take privates, PIPE (private investment in public equity) and SPAC/de-SPAC transactions.He has significant experience advising both financial sponsors and corporations on M&A transactions, with a particular focus on the technology, consumer, healthcare and energy sectors, as well as inbound and outbound investments related to China and the U.S.Xiaoxi has advised a wide range of financial sponsors across the U.S. and Asia, including Advantage Partners, Bain, Baring Private Equity Asia (now EQT Private Capital Asia), Boyu Capital, Carlyle, Centurium Capital, China Everbright, CITIC Capital/Trustar Capital, C Capital, CPE, Canada Pension Plan Investment Board (CPPIB), DCP, Evenstar Capital, Genesis Capital, GF Capital, GP Investments, Hammer Capital, Hillhouse, KKR, Malaysia’s sovereign wealth fund, Mubadala, Ocean Link, Orchid Asia, PAG, Snow Lake, Thomas H. Lee Partners, TPG and Warburg Pincus.Xiaoxi studied automation at Tsinghua University in Beijing, and actuarial science at the University of Hong Kong. He holds a Juris Doctor from Georgetown University Law Center. He has also passed all three levels of the chartered financial analyst (CFA) exam. From 2017 to 2021, Xiaoxi was the principal author of the China chapter in The Private Equity Review, an annual publication by Lexology In-Depth (formerly The Law Reviews).Xiaoxi is fluent in English, Mandarin, Cantonese and Shanghainese.<h4>Representative Experience</h4><ul><li>The Carlyle Group, China International Trust Investment Corporation (CITIC) Limited and CITIC Capital Holdings in the US$2.08 billion acquisition of McDonald’s operations in mainland China and Hong Kong SAR and negotiation of a 20-year master franchise agreement, the largest McDonald’s franchise in the world.</li><li>An investor consortium, comprising Warburg Pincus Asia, General Atlantic Singapore Fund Pte., Ocean Link Partners, and Jinbo Yao, Chairman of the Board and Chief Executive Officer of 58.com, in the take-private of 58.com Inc., China’s largest online classifieds marketplace, at a valuation of approximately US$8.7 billion. This is the second-largest U.S. take-private in Asia to date.</li><li>The Special Committee of Qihoo 360 (NYSE: QIHU) in its US$9.3 billion going private transaction. This is the largest U.S. take-private in Asia to date.</li><li>The Special Committee of Nord Anglia (NYSE: NORD) in its US$4.3 billion going private transaction.</li><li>Plus, a provider of self-driving truck technology, in its proposed US$2.5 billion de-SPAC transaction and the related US$180 million PIPE financing from U.S. and Asian institutional investors.</li><li>BaiJiaYun in its reverse merger with NASDAQ-listed Fuwei Films (NASDAQ: FFHL).</li><li>Hillhouse, in various public and private investments in Asia and globally.</li><li>PAG in its US$200 million investment in Flash, a leading Southeast Asia logistics platform.</li><li>Sea Limited, a leading global consumer internet company, in the acquisition by its digital entertainment arm, Garena, of Phoenix Labs, an acclaimed independent games development company founded in Vancouver.</li><li>Consortium of Bain Capital and GIC in their acquisition of a minority interest in QuEST, a global engineering solutions provider.</li></ul>

林晓希律师在代表私募股权和投资基金客户处理其最复杂、最具战略性的交易方面拥有超过15年的丰富经验，其中包括控制权和杠杆收购、成长资本投资和上市公司并购。林律师是亚洲地区处理美国上市公司交易方面经验最丰富的律师之一，尤其擅长处理私有化交易、PIPE（私人投资公开股权）和SPAC/de-SPAC交易。林律师在代表金融投资者和企业处理并购交易方面拥有丰富的经验，尤其侧重于科技、消费、医疗保健和能源行业，以及与中国和美国相关的境内外投资。林律师曾代表美国和亚洲的多家金融投资者，包括Advantage Partners、贝恩资本、霸菱亚洲投资基金（现为殷拓亚洲私人资本）、博裕资本、凯雷、大钲资本、中国光大、中信资本/信宸资本、C资本、CPE源峰、加拿大养老金计划投资委员会（CPPIB）、德弘资本、Evenstar Capital、元生资本、广发资本、GP Investments、黑马资本、高瓴投资、KKR、马来西亚主权财富基金、穆巴达拉、鸥翎投资、兰馨亚洲、太盟投资集团、雪湖资本、THL基金、TPG和华平投资。林律师曾就读于北京清华大学自动化专业，毕业于香港大学精算专业，并拥有美国乔治城大学法学院的法律博士学位。他还通过了特许金融分析师（CFA）所有三个级别的考试。从2017年至2021年，林律师是《私募股权评论》中国章节的主要作者，该书是由Lexology In-Depth（原The Law Reviews）出版的年度刊物。林律师的英语、普通话、粤语和上海话均十分流利。<h4>具有代表性的交易</h4><ul><li>代表凯雷集团、中国国际信托投资公司和中信资本控股有限公司处理以20.8亿美元收购麦当劳在中国大陆和香港特别行政区的运营事宜，并就有关麦当劳全球最大特许经营权的20年期限《主特许经营协议》进行谈判。</li><li>代表由华平亚洲、General Atlantic Singapore Fund Pte.、鸥翎投资和58同城董事长兼首席执行官姚劲波组成的投资者财团处理以约87亿美元的估值对58同城进行私有化事宜。58同城是中国最大的在线分类信息网站。此次交易是迄今为止亚洲第二大美国私有化交易。</li><li>代表奇虎360（纽约证券交易所股票代码：QIHU）的特别委员会处理其93亿美元的私有化交易。此次交易是迄今为止亚洲最大的美国私有化交易。</li><li>代表诺德安达（纽约证券交易所股票代码：NORD）的特别委员会处理其43亿美元的私有化交易。</li><li>代表Plus处理其拟议进行的25亿美元de-SPAC交易，以及从美国和亚洲机构投资者获得1.8亿美元PIPE融资的事宜。Plus是一家自动驾驶卡车技术提供商。</li><li>代表百家云处理其与在纳斯达克证券交易所上市的富维薄膜公司（纳斯达克证券交易所股票代码：FFHL）进行的反向合并事宜。</li><li>代表高瓴投资处理其在亚洲和全球进行的各种公开和私人投资事宜。</li><li>代表太盟投资集团向Flash进行2亿美元投资的事宜。Flash是一家领先的东南亚物流平台。</li><li>代表冬海集团处理其数字娱乐公司Garena收购Phoenix Labs的事宜。冬海集团是一家领先的全球消费互联网公司。Phoenix Labs是一家总部位于温哥华的知名独立游戏开发公司。</li><li>代表贝恩资本和新加坡政府投资公司组成的财团处理收购全球工程解决方案提供商QuEST少数股权的事宜。</li></ul>

Xiaoxi Lin

Partner

Chuan Sun is Managing Partner of the Shanghai office and Co-Managing Partner of the Hong Kong office.Chuan focuses his practice on cross-border M&A transactions; sophisticated technology, media, and telecom (TMT) transactions; and complex IP/commercial matters across Greater China.With more than 20 years of experience in both Asia and the U.S., Chuan regularly advises multinational corporations, state-owned enterprises, private companies, and PE/VC firms in complex cross-border M&A transactions, joint ventures, strategic alliances, and business separation transactions.Chuan has extensive experience in complex corporate-commercial and technology transactions across the Fintech, e-commerce, and broader TMT sectors. His work covers payment technology, eKYC, credit technology, blockchain, e-platform arrangements, R&D, co-development, technology collaborations, and IP licensing. He also advises on strategic outsourcing, manufacturing, distribution, supply, and franchising arrangements across various industries.Chuan regularly counsels clients on cutting-edge technology and IP regulatory matters, including Fintech, data privacy, cybersecurity, data localization, cross-border data transfers, cloud computing, telecommunications, telematics, and third-party payment services.Prior to joining MoFo, he worked in the Hong Kong office of a Magic Circle firm and the Chicago office of another leading international firm.Chuan co-authored the Hong Kong & mainland China chapters of Getting the Deal Through – Telecoms and Media, 2014, 2015 & 2016; the Hong Kong & mainland China chapters of Getting the Deal Through: Market Intelligence – Telecoms and Media, 2015; and the Hong Kong chapter of Sourcing World 2nd Edition 2015.Chuan is fluent in Mandarin and English.“Chuan Sun has a wealth of knowledge on his clients’ existing products and services offerings and a good understanding of what terms they are or are not willing to accept. This helps tremendously with contract negotiations.”“Chuan Sun has extensive experience in the technology space. Many other competitor firms in the technology space are not really pure IT lawyers, as they are more focus on privacy and trade marks or other related fields, as opposed to technology contracts such as SAP or Microsoft software license agreements. A normal general commercial lawyer would not be able to identify the same issues or raise the right questions, as they are not equipped with the technology know-how of the products and services, their benefits, and general industry standard terms and trending patterns in the market.” Legal 500 Asia Pacific 2020Chuan’s recent blockchain experience includes:<ul><li>Leading Global, China-Headquartered Fintech Company. Advise the company in connection with its first provision of blockchain and Real World Asset solutions in the fintech industry to a leading Chinese securities company for the latter’s first launch of structured product tokens, enabling secure, transparent, tamper-proof transactions for fixed-income and principal-protected tokenized products linked to US equity ETFs.</li><li>Leading Global, China-Headquartered Fintech Company. Advise the company in connection with the international expansion of its various business operations that are based on cutting-edge technologies, including blockchain and crypto, into multiple jurisdictions. </li></ul>

孙川律师的执业领域集中在大中华区的跨境并购交易，复杂的技术、媒体和电信(TMT)交易以及复杂的知识产权/商务事宜。孙律师在亚洲和美国有20多年工作经验，他经常代理跨国公司、国有企业、私人企业和私募股权/风险投资机构处理复杂的跨境并购交易、合资、战略联盟和业务拆分等交易。孙律师在战略性的公司商务和技术交易方面也拥有极为丰富的经验，包括外包、制造、分销、供应与特许经营安排，以及跨行业知识产权许可安排等。他在TMT和知识产权监管方面的经验包括电信、电子商务、互联网、网络安全、数据隐私、云计算以及车联网。在加入美富前，孙律师在一家 “魔法圈”律所(Magic Circle)的香港办事处和另一家领先的国际律所的芝加哥办事处工作。孙律师与他人合著了2014，2015和2016版《让交易推进下去––电信与媒体》(Getting the Deal Through – Telecoms and Media)中的香港和中国大陆章节，2015年版《让交易推进下去：市场情报––电信与媒体》(Getting the Deal Through: Market Intelligence – Telecoms and Media)中的香港和中国大陆章节，以及2015年《采购世界》第二版(Sourcing World 2nd Edition)的香港章节。2018年《亚太法律500强》指出“孙川律师十分高效、负责和实际。他非常擅长处理IT协议，包括软件许可和IT采购合同的相关事宜。他也十分善于处理跨境TMT交易。”孙律师精通普通话和英语。

Chuan Sun

Managing Partner, Shanghai and Hong Kong

Joe Sulzbach is a partner in the Transactions Department, focusing on mergers and acquisitions and private equity. Joe has represented numerous public and private entities in a variety of transactions, including domestic and cross-border merger and acquisition transactions, private equity transactions, joint ventures, and corporate governance matters. He has advised a broad range of clients across industries, including technology, media, and telecom (TMT), industrial, chemicals, consumer goods and retail, energy, healthcare and pharmaceuticals, and real estate.Joe has also represented a number of companies in engagements with activist stockholders, including in responding to Starboard Value, Carl Icahn, Elliott Management, JANA Partners, Farallon Capital Management, and VIEX Capital.In addition, Joe has represented investment banking firms and financial advisors in a variety of significant transactions, including representation of Qatalyst Partners, Evercore Partners, Greenhill, Ducera Securities, and Solomon Partners.Select examples of Joe’s experience include the following representations:<ul><li>Veeco Instruments Inc. in its $5.2 billion merger with Axcelis Technologies, Inc.</li><li>BearingPoint, an independent management and technology consultancy firm, on its joint venture with ABeam Consulting.</li><li>SoftBank Group Corp. on its $2 Billion investment Intel Corporation. </li><li>Hooter’s Inc. and Hoot Owl Restaurants, L.L.C. in the acquisition of over 100 restaurants from Hooters of America LLC, the iconic casual dining and sports entertainment chain.</li><li>Shaklee Corporation in its acquisition of substantially all the assets of Modere.</li></ul><ul><li>Infineon Technologies AG in its $2.5 billion acquisition of Marvell Technology’s automotive ethernet business.</li><li>SoftBank Group Corp. in its proposed up to $40 billion investment in OpenAI, America’s premier artificial intelligence (AI) company and developer of the transformational large language models that are driving the AI revolution.</li><li>Infineon Technologies AG in the sale of its Austin, TX foundry to SkyWater Technology.</li><li>NorthStar Healthcare Income, Inc. in its $900 million sale to an affiliate of Welltower Inc.</li><li>Cartica Acquisition Corp in its $2.75 billion business combination with Nidar Infrastructure Limited, India’s leading data center provider for artificial intelligence and high-performance compute services.</li><li>Centuri Holdings and parent company Southwest Gas Holdings in Centuri’s $353 million IPO and concurrent private placement.</li><li>U.S. Silica Holdings, Inc. in its $1.85 billion sale to entities affiliated with Apollo Global Management.</li><li>The rock band KISS and its co-founders Gene Simmons and Paul Stanley in the sale of substantially all rights related to KISS to Pophouse Entertainment.</li></ul><ul><li>Sekisui House, Ltd. in its $4.9 billion acquisition of M.D.C. Holdings, Inc.</li><li>Astellas Pharma Inc. in its $175 million acquisition of Propella Therapeutics, Inc.</li></ul><ul><li dir="ltr">Southwest Gas Holdings, Inc. in its adoption of a Tax-Free Spin Protection Plan.</li><li dir="ltr">Kyowa Kirin Co., Ltd. in its up to $477 million acquisition of Orchard Therapeutics plc, including CVR payment.</li><li dir="ltr">Sugar Foods Corporation in its sale to Pritzker Private Capital.</li></ul><ul><li>The News Lens Co., Ltd. in its $275 million business combination with Blue Ocean Acquisition Corporation.</li></ul><ul><li>Upland Software, Inc. in its adoption of a Tax Benefit Preservation Plan.</li></ul><ul><li>The Board of Directors and Special Committee of Toshiba in the $15.2 billion takeover of Toshiba by a consortium led by Japan Industrial Partners.</li><li>Infineon Technologies AG in the sale of its HiRel DC-DC converter business to Micross Components, Inc.</li></ul><ul><li>AgroFresh Solutions, Inc. in its $545 million going-private acquisition by Paine Schwartz Partners.</li><li>Unity Software Inc. in multiple transactions, including its all-stock $4.4 billion acquisition of ironSource and Unity’s concurrent $1 billion PIPE investment by Silver Lake and Sequoia, and in response to the related $13.6 billion unsolicited acquisition proposal from AppLovin Corporation.</li><li>Southwest Gas Holdings, Inc. in its defense against a hostile tender offer and proxy contest for board control by Carl Icahn, including adoption of a shareholder rights plan, and negotiated resolution.</li><li>Marrone Bio Innovations in its $244 million acquisition by Bioceres Crop Solutions Corp. in a stock-for-stock merger.</li><li>Paine Schwartz Partners, a global leader in sustainable food chain investing, in its new platform investment in Registrar Corp., a leading provider of supply chain compliance software and services to domestic and foreign food and beverage, medical device, pharmaceutical, and cosmetic customers.</li><li>Silver Crest Acquisition Corporation in its $1.7 billion business combination with TH International Limited (Tims China), a master franchisee and operator of Tim Hortons coffee shops in China.</li><li>Sky Harbour LLC in its $777 million business combination with Yellowstone Acquisition Company.</li><li>SoftBank Group Corp., as the largest investor in WeWork, in WeWork’s $9 billion business combination with BowX Acquisition Corp.</li><li>Leading provider of patient access and engagement platform in its sale to a publicly listed company.</li><li>ON Semiconductor Corporation in its adoption of a shareholder rights plan.</li><li>Whitestone REIT in its adoption of a shareholder rights plan.</li><li>Exantas Capital Corp. in the acquisition of its external management contract by ACRES Capital Corp. from C-III Capital Partners LLC, and $375 million financing from MassMutual and Oaktree Capital Management.</li><li>NTT Communications Corporation and Secure-24 in the acquisition of SymSoft Holding Inc. and Symmetry Holding Inc. from Symmetry Holdings, LLC, a portfolio company of Great Hill Equity Partners.</li><li>Kirin Holdings Company, Limited in its acquisition of approximately 40% of the capital stock of Thorne Holding Corp.</li><li>Rao’s Specialty Foods, Inc. in its sale to Sovos Brands, an affiliate of funds managed by Advent International.</li><li>JERA in its sale of a minority interest in Cricket Valley Energy Center to Development Bank of Japan.</li><li>JERA in the acquisition of a 43% stake in Cricket Valley Energy Center, the developer of a 1,000 MW natural gas-fired power plant located in Dover, New York.</li><li>Renesas Electronics in its $3.2 billion acquisition of Intersil Corporation.</li><li>DaVita HealthCare Partners in its acquisition of Renal Ventures Limited.</li><li>Inovalon Holdings, Inc. in its acquisition of Creehan Holding Co., Inc.</li><li>Inovalon Holdings, Inc. in its acquisition of Avalere Health, Inc.</li><li>GLP Pte. Ltd. in the acquisition of a $4.55 billion U.S. logistics portfolio from Industrial Income Trust.</li><li>JLB Group, LLC in its acquisition of Sneakz, LLC.</li><li>Futamura Chemical Co., Ltd. in its acquisition of the cellulose business of Innovia Films.</li><li>Kirin Holdings Company, Limited in its acquisition of approximately 24.5% of the capital stock of The Brooklyn Brewery Corporation.</li></ul>