Asia Last year saw Hughes Hubbard grow its Asia team with the addition of new partner Christine Kang. The firm continued its top shelf work for Asian and Middle Eastern clients, including the largest SPAC deal in the world, major disputes for Japanese companies and a revolving warehouse facility for a Middle East client. The firm also continued to advise over a dozen companies operating in China on the unprecedented challenges posed by new U.S. and EU export controls and sanctions matters.
Coupang’s $4.6B IPO, Biggest in US in 2021
HHR acted as legal advisor to Coupang in the South Korean e-commerce giant’s nearly $4.6 billion initial public offering on the New York Stock Exchange.
Grab Goes Public in World’s Biggest SPAC Deal
Hughes Hubbard acted as legal advisor to Grab Holdings Inc. in its merger with Altimeter Growth Corp., a special purpose acquisition company, that took Southeast Asia’s leading super app public in the largest SPAC merger ever, ascribing to Grab a pro-forma equity value of approximately $39.6 billion.
Release from World Bank Sanction for Large Chinese State-Owned Construction Company
HHR assisted a large Chinese state-owned construction company, along with over 1000 subsidiaries, in obtaining release from a sanction that had been imposed by the World Bank in June 2019. The firm successfully demonstrated that the company had implemented an effective compliance program in line with the World Bank Group Integrity Compliance Guidelines. The firm also advised the company in revisions to their compliance policies and procedures as well as their internal controls.
Victory for Casino Operator in Singapore Court
In a conclusive triumph, HHR brought good fortune to Global Gaming Asset Management when Singapore’s highest court upheld a final arbitration award of $296 million issued in 2019 to the Las Vegas-based casino operator in its decade-long dispute with a premier gaming resort owner in the Philippines.
Aeon in $3.2B De-SPAC Merger for Sports E-Commerce Platform Signa
Hughes Hubbard advised Japanese retailer Aeon, a significant shareholder of Signa Sports United GmbH, in Signa’s merger with special purpose acquisition company Yucaipa Acquisition Corp., a move that took the sports e-commerce platform public on the New York Stock Exchange.
Suzhou Angela Triumphs in 9th Circuit Court of Appeals
HHR successfully defended video game company Suzhou Angela against false claims that their game Myth of Empires had copied the source code of another game. These claims had caused Myth of Empires to be removed from a major online storefront.
FCPA Compliance Monitor for Chinese Construction Company
HHR is serving as an independent compliance monitor for a Chinese construction company under a debarment imposed by the African Development Bank. The HHR team is assessing the company’s efforts to establish an integrity compliance program in China and throughout its operations abroad.