Asialaw Profiles
The Guide to the legal markets of the Asia-Pacific

Slaughter and May’s greater China practice is not the largest among the international firms, and yet partners Neil Hyman and Benita Yu are very well regarded in the market.

One partner at a rival firm notes: “Benita Yu is simply a top practitioner in Hong Kong and China. All clients and peers in the market seem to respect her, and her reputation for doing quality work is well deserved.”

In the last year, Yu and partner Laurence Rudge represented Prada on the Hong Kong law aspects of its headline US$2.14 billion IPO and Hong Kong Stock Exchange listing.

Slaughter and May is by no means the largest shop in town, but the firm is known for top quality work on cross border M&A deals. Clients have high praise for the partners’ competence and capability. As one client notes: “We want the firm whenever we can get it. It ends up having to turn away a lot of business because it just can’t meet the demand for its services.”

In the last year, partner Neil Hyman advised Diageo on its proposed acquisition of a controlling share in its China joint venture with Sichuan Chengdu Quangxing Group. If successful, the transaction will represent the first winning foreign takeover of a mainland China-listed company by a non-financial institution. It will also trigger a mandatory US$1.5 billion tender offer for Shanghai-listed Chinese white spirits company Sichuan Shui Jing Fang.

Known for its strategy of hiring leading quality partners who are capable across a range of practice areas, Slaughter and May’s relatively small capital markets practice in Hong Kong often punches above its weight. As one client notes: “Its partners give capable and intelligent advice.” A partner at a rival firm adds: “Not everybody can get the firm, but everybody wants it.”

This past year, Slaughters’ capital markets team represented Prudential on its listing, which was the first time that a company had been simultaneously listed in London, New York, Hong Kong and Singapore.

Leading partners Benita Yu and Laurence Rudge also recently advised Italian luxury goods manufacturer Prada on its US$2.14 billion Hong Kong IPO. Prada was the first Italian company ever to list in Hong Kong, and the deal was watched in anticipation of more luxury brands listing in the future.

Slaughter and May’s small team of highly skilled specialists is well connected in the Hong Kong market and can advise on both local and cross border deals. The firm’s longstanding relationships with leading Hong Kong companies, such as Standard Chartered, Swire and MTR, create a solid pipeline of high profile mandates.

One client says: “Slaughter and May gives capable and intelligent advice. It doesn’t have the largest international or regional network in Asia, but the Hong Kong staff are a safe pair of hands for important deals.”

In one highlight deal, Slaughters’ M&A team advised CICC Hong Kong Securities as financial adviser to China Uranium on its proposed subscription for new shares in HKEx listed Vital Group Holdings.