Dechert Honored with IFLR “Private Equity Deal of the Year” Award for Asia
A Dechert transaction was named “Private Equity Deal of the Year” by the International Financial Law Review at the publication’s IFLR Asia-Pacific Awards 2019. The contest aims to recognize lawyers and legal teams that have broken new ground and set market precedent when structuring cross-border transactions.
In a ceremony held at Hong Kong’s Island Shangri-La Hotel on March 7, Dechert was recognized for its role serving Korean memory chip maker SK hynix Inc., which joined an investment consortium in the US$18 billion acquisition of Japan-based Toshiba Corporation’s NAND flash memory and solid-state drive business, now known as Toshiba Memory Corp. Described by Thomson Reuters as the fourth largest private equity-backed M&A deal since the financial crisis of 2008, the acquisition also included U.S. private equity firm Bain Capital, along with Apple Inc. and
Dell Technologies.
Hong-Kong based corporate partner David Cho led a 50-lawyer, 12-office Dechert team that devised a transaction structure to answer antitrust concerns in China and other Asian jurisdictions, using a convertible bond instrument and fund structure to channel SK hynix’s US$3.6 billion investment into the acquisition.
The transaction has already been honored by other leading publications in the Asian legal market. It was selected as “M&A Deal of the Year for North Asia” by The Asian Lawyer at its Asia Legal Awards 2018 and named “M&A Deal of the Year” by Asian Legal Business in both its Japan Law Awards 2018 and Korea Law Awards 2018.
About Dechert
Dechert is a leading global law firm with 27 offices around the world. We advise on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.
