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网易撤资，美富、中伦助力芭比娃娃母公司美泰收购Mattel163

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China Business Law Journal (CBLJ)’s recent article has mentioned Morrison Foerster’s role as the legal advisor to Mattel, a...

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China Business Law Journal (CBLJ)’s recent article has mentioned Morrison Foerster’s role as the legal advisor to Mattel, a leading global play and family entertainment company and owner of one of the most iconic brand portfolios in the world, on its acquisition of the full ownership of the Mattel163 mobile games studio from its joint venture partner NetEase, a leading internet and game services provider, by purchasing NetEase’s 50% interest in the studio. The transaction values Mattel163 at $318 million. Acquiring full control of Mattel163 meaningfully advances Mattel’s digital games business and will add significant development, publishing, and digital customer acquisition expertise. Mattel will leverage Mattel163’s capabilities to increase its mobile games output and enhance alignment with the broader Mattel product roadmap. MoFo’s deal team is co-led by PE/M&A partner Marcia Ellis (Hong Kong) and M&A and Technology Transactions partner Chuan Sun (Hong Kong and Shanghai), supported by Tax partner Matthew Lau (Hong Kong). <a href="https://mp.weixin.qq.com/s/JSKOW1uwvSyCk5tUdbURrQ" target="_blank">Read more</a>.

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Marcia Ellis is a Senior Counsel in our New York office and a Partner in our Hong Kong office. Marcia’s practice focuses on private equity transactions and complex mergers and acquisitions involving companies and other assets located in Asia. Having practiced in Asia for more than a quarter of a century, Marcia is one of the most experienced M&A lawyers active in the Asian market. In the past three years, she has advised clients on deals with a total aggregate value well in excess of US$249.8 billion.​Marcia regularly advises leading investors on M&A transactions, including SoftBank Vision Fund, Alibaba, GLP, Bain Capital, BlackRock, Farallon Capital, Ascendent Capital Partners, Silver Crest Acquisition Corp., PAG, Hillhouse, Hony Capital and Celadon Partners. In addition, she is experienced in representing U.S., UK and Asia based institutional investors in the acquisition, financing and disposition of real estate in China, Hong Kong and elsewhere in Asia, including numerous logistics and internet data center projects, and investment in and acquisition of real estate developers.From 2008 through 2011, she was the Chief Legal Officer for Asia of D. E. Shaw, where she assisted various group entities in making, restructuring, and exiting investments in various countries in Asia, including a number of significant and highly structured investments in China and India.Clients consider Marcia as a "super skilled technical lawyer" who offers "incredible problem-solving skills on all aspects of matters, both legal and commercial". A client said that "Finding a lawyer whose judgement you trust and who knows how far they can push the boundaries is not easy, and Marcia is the best lawyer I've worked with."Marcia is a member of our global board of directors and a member of our global Environmental, Social and Governance (ESG) Steering Committee. She served as a Global Co-Chair of the firm's Private Equity Practice. In 2022, she spearheaded the launch of MoFo’s annual survey of the ESG and DEI policies and practices of Asia-headquartered PE firms. She has also been named to Law360’s 2022 and 2023 Private Equity Editorial Board and elected as the Co-Chair of AmCham Hong Kong’s Women of Influence Committee. Marcia has been recognized as one of the Women of Influence in Private Markets: Private Equity by Private Equity International in 2024.

Marcia Ellis（艾琳）律师的执业重点是涉及亚洲境内公司和其它资产的私募股权交易和复杂并购。Ellis律师在亚洲执业超过二十五年，是活跃在亚洲市场经验最丰富的并购律师之一。在过去三年间，她为客户完成的交易的合计价值超过2498亿美元。Ellis律师经常为大型投资者提供并购交易法律咨询，这些投资者包括软银愿景基金、阿里巴巴、普洛斯、Bain Capital、贝莱德、Farallon Capital、上达资本、Silver Crest特殊目的收购公司、PAG、高瓴资本、弘毅投资以及Celadon Partners。此外，在代表美国、英国、亚洲机构投资人方面她也富有经验；她代表客户处理收购、融资、处置中国、香港及亚洲其它地区的房地产，其中包括许多物流和互联网数据中心项目，也处理对房地产开发商的投资与收购。从2008至2011年，Ellis律师是德劭集团亚洲区的首席法务官。在德劭集团，她协助各集团实体处理在亚洲多个国家进行的投资、投资重组及投资退出事宜，包括在中国和印度进行的多个重要及高度结构化的投资。客户评价Ellis律师是一位"技巧高超的律师"，她拥有 "极其出色的解决问题的能力，包括法律问题和商业问题 "。一位客户称："找到一位拥有令人信任的判断力，并能尽力突破极限的律师并不容易，而她是我合作过的最好的律师"。Ellis律师是美富律师事务所的全球董事会成员，兼本所全球环境、社会与治理(ESG)指导委员会委员之一。她曾任本所的全球私募股权业务联席主席。在2022年，她率先发起了美富对总部位于亚洲的私募股权公司的环境、社会与治理以及可持续性的政策与实践的年度调查。她还当选《法律360》(Law 360)2022年度和2023年度私募股权业务编辑委员会成员，以及香港美国商会最具影响力女性(WOI)指导委员会联席主席。Ellis律师还荣获Private Equity International评为2024年“私募股权领域：私募市场最具影响力女性”之一。

Marcia Ellis

Senior Counsel (New York) | Partner (Hong Kong)

Chuan Sun is Managing Partner of the Shanghai and Hong Kong offices.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 2020<h4>Representative Experience:</h4><ul><li>CPE, a Chinese alternative investment firm, in connection with its US$350 million joint venture with Restaurant Brands International (RBI), one of the world's largest multinational fast food holding company, to operate Burger King in China which has around 1,250 restaurants in total. This transaction is one of the most significant private equity-led transactions in China’s consumer sector in 2025.</li><li>OcuMension Therapeutics (HKSE: 01477), a Hong Kong Stock Exchange listed ophthalmic pharmaceutical platform in China in its acquisition of substantial assets valued at HK$1.28 billion (approximately US$165 million) from Alcon Inc., a global leader in eye care. The transaction involves asset purchase, global license, transition services and manufacture and supply arrangement and constitutes a very substantial transaction of OcuMension.</li><li>Ascendent Capital Partners in its US$1.66 billion privatization of Hollysys Automation Technologies Ltd. (NASDAQ: HOLI), a leading international automation control system solutions provider. This is a rare transaction where a PE fund successfully acquires a US-listed Chinese company without forming a consortium with controlling shareholder or management. It is also the first and only U.S. take-private of a BVI-incorporated company involving a dissenter process. </li></ul><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>

孙川是美富上海办公室和香港办公室的管理合伙人。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。<h4>具有代表性的交易 </h4><ul><li>代表中国另类投资公司CPE源峰 就其与世界上最大的餐饮公司之一餐饮品牌国际集团（Restaurant Brands International，简称 RBI）成立价值3.5亿美元的合资企业。该合资企业将负责汉堡王在中国的运营，目前在全国拥有约 1,250 家餐厅。本次交易是 2025 年中国消费行业中由私募股权基金主导的最具代表性交易之一。</li><li>代表香港上市的中国眼科制药平台欧康维视生物医药(HKSE: 01477)处理其收购全球眼科护理领域的领导者爱尔康公司价值 12.8 亿港元（约 1.65 亿美元）重大资产的事宜。交易涉及资产收购，以及全球许可、过渡期服务、生产和供应安排等，是欧康维视的一项非常重大交易。</li><li>代表上达资本处理其以16.6亿美元对和利时自动化技术有限公司（纳斯达克证券交易所股票代码：HOLI）进行私有化事宜。和利时是一家领先的国际自动化控制系统解决方案提供商。这是一宗罕见的交易。在这宗交易中，私募股权基金在未与控股股东或管理层组建财团的情况下，就成功收购了在美国上市的中国公司。这也是首宗且唯一一宗涉及异议股东程序的，在英属维尔京群岛注册成立的公司的美国上市公司私有化交易。</li><li>代表一家总部位于中国的全球领先金融科技公司首次为金融科技行业提供区块链及现实世界资产（RWA）解决方案，协助一家中国头部证券公司首次发行结构化产品代币。该方案为挂钩美国股票ETF的固定收益及保本型代币化产品提供了安全、透明且防篡改的交易支持‌。</li><li>代表一家总部位于中国的全球领先金融科技公司处理基于区块链和加密货币等尖端技术开展的各项业务在多个司法管辖区进行国际扩张的事宜。</li></ul>

Chuan Sun

Managing Partner, Shanghai and Hong Kong

Matthew’s practice focuses on the structuring of cross‑border M&A transactions and corporate reorganizations, particularly involving the United States, China, Japan, and the rest of the Asia‑Pacific region. He specializes in guiding clients through the intricacies of cross‑border transaction structures and intellectual property management from a tax perspective.Matthew has deep experience advising fund sponsors and institutional investors on tax issues relating to the formation of, and investments in, private equity funds, venture capital funds, real estate funds, and other alternative investment products. He has particular expertise in the U.S. taxation of government‑linked investors such as sovereign wealth funds and central banks.Matthew has represented multinational corporations and funds in transactions across more than 30 jurisdictions covering a wide range of industries, including technology, telecommunications, healthcare, real estate, consumer, media, and energy.Matthew is a Registered Foreign Lawyer with the Law Society of Hong Kong.While at Columbia Law School, Matthew was a three‑year Harlan Fiske Stone Scholar.

刘恩安（Matthew Lau）律师的业务侧重于跨境并购交易和企业重组的结构设计，特别是涉及美国、中国、日本和亚太地区其他国家的交易。他擅长从税务的角度协助客户处理复杂的跨境交易结构和知识产权管理。刘律师在为基金发起人和机构投资者就私募股权基金、风险投资基金、房地产基金和其他另类投资产品的成立和投资相关的税务问题提供法律咨询方面拥有丰富的经验。他尤其擅长处理美国对政府相关投资者（如主权财富基金和中央银行）的征税事宜。刘律师曾代表多家跨国公司和基金在30多个司法管辖区处理交易，涵盖科技、电信、医疗保健、房地产、消费品、媒体和能源等多个行业。刘律师是香港律师会注册外地律师。在美国哥伦比亚大学法学院就读期间，刘律师连续三年获得哈伦•菲斯克•斯通（Harlan Fiske Stone）奖学金。