The Macallan ALB Hong Kong Law Awards have shortlisted Appleby for Offshore Law Firm of the Year and M&A Deal of the Year (Premium). The prestigious awards aim to “pay tribute to the outstanding performance of private practitioners and in-house teams from Hong Kong and the region”.
Appleby Hong Kong has also been nominated by the China Law & Practice Awards for M&A Deal of the Year, Private Equity Deal of the Year and Offshore Firm of the Year. The awards celebrate the top lawyer, law firms and in-house teams in China each year.
Judy Lee, Managing Partner of Appleby Hong Kong commented on the nominations saying; “I am delighted our Hong Kong team has been recognised for their outstanding work this year. This recognition once again highlights Appleby’s experience and increasing profile in the offshore corporate advisory space in Asia.”
Cameron Adderley, Managing Partner, Hong Kong and Global Practice Group Head of Corporate said; “As a leading global offshore law firm with full service capability on the ground in Hong Kong, we take great pride in assisting our clients with key transactions wherever in the world they might need us”.
Appleby have been recognised for their contribution in two high-profile deals this year, the disposal of ele.me to Alibaba in May and on the Carlyle Group’s investment in Ant International in June. Both transactions were led by Partner, Nicholas Davies, together with Counsel Vincent Chan.
Appleby acted as Cayman Islands legal counsel to Rajax Holding (Rajax), a Cayman Islands company, in respect of the transfer of all of the issued shares of Rajax (not already owned) to Ali Panini Investment Limited, an affiliate of Alibaba Group Holdings Limited (Alibaba). The transaction results in Alibaba gaining full control of Rajax, a food delivery business operating under the ele.me brand, a popular food delivery app in China with over 34 million users. The transaction implies an enterprise value of USD 9.5 billion for ele.me.
Appleby also acted for The Carlyle Group on its subscription of Series C preference shares issued by Ant International Co., Limited, a Cayman Islands company and a wholly-owned subsidiary of Ant Small and Micro Financial Services Group Co., Ltd. (Ant Financial). This deal forms part of Ant Financial’s circa USD 14 billion equity financing programme. Since its establishment in 2014, Ant Financial has formed international partnerships with global strategic partners to serve local users in those markets, and serve Chinese travellers overseas by connecting Alipay with online and offline merchants in popular destinations.
Nicholas Davies commented: “Vincent and I were delighted to advise on these high-profile transactions and to hear that they have been nominated as M&A Deal of the Year and Private Equity Deal of the Year across the respective awards. These deals are testament both to the market-leading global offshore corporate expertise that Appleby offers its clients across all of our jurisdictions and to the significant development of our Asia corporate and private equity practice in Hong Kong”.