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David WANG
Equity Partner / Shanghai
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Tel +86-21-6061-3186
Email davidwang@zhonglun.com
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Practices
Investment/M&A & Corporate Governance, Financing, Litigation & Arbitration
David WANG
Mr. Wang's major practice areas include mergers and acquisitions, foreign direct investment, corporate, compliance, financing, litigation and arbitration.
Mr. Wang is one of the earliest lawyers in Shanghai, PRC who has engaged in foreign-related legal practice for nearly 30 years in providing international legal services, and is skilled in representing multinational companies in various business sectors on a wide range of matters including foreign direct investment, corporate matters, commercial transactions, cross-border M&A, joint venture, financing, reorganization, compliance, business trust, and dispute resolution. He has been recommended by different international appraisal organizations as “Asia Leading Lawyer” and “Recommended Lawyer in M&A Area” for consecutive years. In 2017 Mr. Wang advised the clients on the USD 11.6 Billion acquisition of all the issued and paid-up ordinary shares of Global Logistic Properties Limited. It is so far the largest private equity buy-out deal in Asia and the largest cross-border transaction completed by Chinese entities since 2017.
Mr. Wang's clients spread over different industries, including equipment manufacturing, automobile, logistics, financing, healthcare, education, hotel, steel, restaurant and catering, chemical, shipping, sports and entertainment, leasing, consulting and etc., and cover different regions in North America, Europe and Asia.
In addition, Mr. Wang has participated in many complicated domestic and international litigation and arbitration cases, and as a member of the panel of arbitrators of well-known arbitration centers both at home and abroad, Mr. Wang has participated in and resolved on many international arbitration cases. In the meantime, Mr. Wang has also been constantly served as a PRC law expert to provide PRC law expert opinion in foreign litigation proceedings and arbitration hearings. Mr. Wang's many years of commercial transaction experience enables him to provide deep and smart insight when settling commercial disputes and his abundant dispute resolution experience also helps him to cultivate a strong dispute-preventing mindset when dealing with commercial transactions.
Representative Matters
Mergers and Acquisitions
Represented Mativ Holdings, Inc. (NYSE:MATV) in its sale of engineered papers business, and provided full-spectrum PRC legal services
Represented Crane Holdings, Co. in its reorganization demerger as a NYSE listed company and acquisition of Baum lined piping GmbH and its Chinese subsidiary, as well as the reorganization after the acquisition, and provided full-spectrum PRC legal services
Represented American Bureau of Shipping (ABS) on the carve-out and sale of its technical inspection and verification business, and provided full-spectrum PRC legal services
Represented Converge Technology Solutions Corporation in its acquisition of TIG Group and the post-acquisition liquidation and dissolution of the Chinese subsidiary, and provided full-spectrum PRC legal services
Represented Advanced Energy Industries in its acquisition of SL Power Electronics Corporation and SL Delaware Holdings, Inc., and provided full-spectrum PRC legal services
Represented Emerson Electric Co. in its acquisition of Mita-Teknik, a leading company in the wind energy industry, and provided full-spectrum PRC legal services
Represented BOCOM Wealth Management Co., Ltd. in its formation of joint venture company with Schroders and provide full-spectrum legal services, including but not limited to feasibility study, conducting due diligence, drafting and revising transaction documents, attending contract negotiation, and providing other legal consultation
Represented American Bureau of Shipping (ABS) in its acquisition of the equity interests held by the Chinese partner in ABS's joint venture company in China, and provided full-spectrum PRC legal services
Represented Gultech China Pte. Ltd., the subsidiary of an associated company of Tuan Sing Holdings Limited (SGX Symbol: T24), in its divestment of approximately 15.5% of the total shares in the issued share capital of Gultech (Jiangsu) Electronics Co., Ltd to eight China-based private equity investors, and provided full-spectrum PRC legal services
Represented ReSource Pro, LLC in selling its business process outsourcing services and business practice management services worldwide (China part), and provided full-spectrum PRC legal services
Represented Government of Singapore Investment Corporation (GIC) in its indirect acquisition of two logistic real estate projects in China and provided full-spectrum PRC legal services
Represented The Jackson Laboratory in its establishment of a joint venture with Anitech for manufacturing of laboratory animals and provided full-spectrum PRC legal services
Represented Purolite Corporation in its restructuring and sale of its resin business, and provided full-spectrum PRC legal services including due diligence, restructuring and transactional documents
Represented Omni Logistics, LLC in its acquisition of AGW Group companies and provided full-spectrum PRC legal services including due diligence, transactional documents drafting and review, etc.
Represented Omni Logistics, LLC in its acquisition of Trinity Logistics and provided full-spectrum PRC legal services including due diligence, restructuring and transactional documents
Represented a pharmacy chain to accept equity investment from a renowned pharmaceutical industrial investment fund
Represented Tyrolit Group in selling shares of its PRC subsidiary which engages in production of grinding tools
Represented DEKRA in its divestment of PRC vehicle inspection business and provided full-spectrum PRC legal services
Represented Western Digital Cooperation in its full disposal of its PRC subsidiary and provided full-spectrum PRC legal services
Represented Armstrong World Industries in its full disposal of its PRC subsidiary and provided full-spectrum PRC legal services
Represented TKH Group NV in its full disposal of its PRC subsidiary and provided full-spectrum PRC legal services
Represented TKH Group NV in its acquisition of one foreign-invested high-tech sensor company in China
Represented a large multi-national company in Germany in its internal restructuring in the Greater China Area and provided full-spectrum PRC legal services
Represented Helvetica Capital AG in its acquisition of two foreign-invested bearing companies in China
Represented a Swiss private equity fund to buyout a business unit of a well-known multinational company, with local presence all over the world, and provided PRC legal advice regarding certain top-level managers’ investment along with the fund
Represented VIKING Life-Saving Equipment A/S in its Acquisition of Norsafe, the Norwegian Boatbuilder
Represented Aboitiz Equity Ventures for its Acquisition of Gold Coin Group
Represented Colfax Corporation for its Acquisition of Gas Control Equipment
Represented Acuity Brands in its sales of a domestic company and a HK subsidiary to a PRC buyer
Represented Acuity Brands, Inc. in its acquisition of IOTA Engineering and its subsidiaries
Provided legal services to HAVI in its formation of a joint venture with SF Holding
Represented Project Management Institute, Inc. (PMI) on the renewal of its cooperation agreement with the Training Center of the State Administration of Foreign Experts Affairs, P.R. China
Represented the consortium comprising HOPU, Hillhouse Capital, SMG, BOCGI and Vanke on its USD 11.6 Billion acquisition of all the issued and paid-up ordinary shares of Global Logistic Properties Limited. It is so far the largest private equity buy-out deal in Asia and the largest cross-border transaction completed by Chinese entities in 2017
Represented PineBridge Investments, a U.S. PE firm in providing acquisition loan to a U.S. company for acquiring several Chinese IT service companies; assisted PineBridge Investment in investigating labor issues, liabilities issues and compliance of the target companies
Represented SCHMOLZ + BICKENBACH AG on its establishment of a joint venture with Decent Group (one of the Tsingshan Group companies)
Represented Outokumpu on its divestment of its PRC joint venture, Shanghai Krupp Stainless Co., Ltd. in two tranches, which includes equity transfers at both domestic and offshore levels and price adjustment mechanism
Represented TAGAL, a joint venture of Anseel and ThyssenKrupp Steel Europe AG, on its formation of a Sino-foreign joint venture in Chongqing with Pansteel and ThyssenKrupp Steel Europe AG
Represented TAGAL on its formation of a Sino-foreign joint venture in Guangzhou with Ansteel and Guangzhou Automobile Group Business Co., Ltd (GAC)
Represented ASPAC Land Development (Shanghai) Limited on its equity acquisition of Virtuous Land Development Co., Ltd.
Represented ASPAC Land Development (Shanghai) Limited on its sale of equity interest in the project “Dijie International City" to Vanke Group in Shanghai
Represented NETS [Network of Electronic Transfers (Singapore) Pte Ltd.] on its sale of equity interest in an equity joint venture (developing electronic payment system) to several state-owned companies
Represented International Paper on its PRC entities’ restructure and divestments of its business departments
Represented SPX Corporation on its joint venture projects, manufacturing project, sale of business units, equity transfers, etc.
Represented Middleby Corporation on its asset acquisition of a leading manufacturer of induction cooking equipment for the commercial food service industry
Represented Middleby Corporation on its asset acquisition of a beverage-dispensing equipment manufacturer
Represented a Chinese private company on its sale of equity, and formation of joint venture with, Stanley Black & Decker
Represented Tyco on its acquisitions of PRC companies, establishments of new entities, manufacturing project, restructure of its PRC entities, sale of business units, etc.
Represented Yara, a leading Norwegian fertilizer company, on establishment of an equity joint venture in Guizhou with its Chinese partner
Represented Yara on its equity acquisition of a fertilizer company from Sinochem
Represented Magna on its asset acquisition of an automobile parts supplier in China
Represented Visteon on its acquisitions of Chinese auto system supplier
Represented Visteon on its acquisition of the automotive electronics business of Johnson Controls
Represented Richline Group, Inc. on its acquisition of The Aaron Group’s business in China
Represented Tianjin Zhonghuan Semiconductor Co., Ltd. and Sunpower Manufacturing Corporation Limited in their establishment of a Joint Venture with Dongfang Electric Corporation
Represented Givaudan S.A. on establishing its aroma products manufacturing joint venture in China
Banking and Finance
1. Syndicated Loan and Project Finance
Represented the consortium comprised of HOPU, Hillhouse Capital, SMG, BOCGI and Vanke on its financing strategy for acquiring Global Logistic Properties. It is so far the largest private equity buy-out deal in Asia and the largest cross-border transaction completed by Chinese entities in 2017
Represented a leading steel company on its RMB1 billion syndicated term loan and revolving facility financing and RMB1.1 billion syndicated term loan and revolving facility
Represented Industry and Commerce Bank of China on its RMB380 million syndicated term loan and revolving facility financing to fund a water utility construction project
Represented Bank of China on its RMB385million syndicated term loan financing to fund a real estate development project in Shanghai
Represented China Construction Bank Hong Kong Branch on its HK$187 million term loan financing to fund a real estate development project in Shanghai
Represented China Agricultural Bank on its RMB580 million syndicated term loan financing to fund a real estate development project in Shanghai
Represented CITIC Bank on its HK$103 million term loan financing to fund the acquisition a real estate project in Shanghai
Represented Industry and Commerce Bank of China on its refinancing for real property project in Shanghai
Represented Bank of America Shanghai Branch on its USD 425 million syndicated term loan and revolving facility financing to fund a copper manufacturing project
Provided PRC legal opinions for several bank financing projects
2. Working Capital Facility
Represented DBS Shanghai Branch on its revolving facility in USD for a Chinese airline company
Represented the Chinese subsidiaries of Magna on their working capital facilities extended by Citibank, Royal Bank of Scotland and Bank of Communications
Represented the Chinese subsidiaries of ThyssenKrupp on their working capital facilities extended by Agricultural Bank of China, Industrial and Commercial Bank of China, Commerzbank, etc.
3. Structured Finance
Represented DBS in drafting templates for DBS’s account receivables purchase business in PRC
Represented DBS on its purchase of account receivables
Represented various telecommunication equipment/service providers and banks on several off-balance-sheet financings with respect to the account receivables and notes
Represented Shanghai International Trust and Investment Company on its structured deposit deal with Société Générale
Represented Alcatel-Lucent in reviewing and revising the supply chain trade financing documents with the banks
Represented various domestic and foreign banks on their accounts receivable factoring as well discounted notes with several clients
Represented DBS in drafting templates for warehouse receipt pledge financing
Represented ABN AMRO and DBS in drafting templates for account receivables financing
Provided legal advice to many clients with respect to letter of credit and other international trade settlement related matters
Business Trust
Represented over 50 MNCs in respect of their trust establishment and the following restructuring matters, including drafting trust contract and ancillary documents, providing PRC legal advice regarding the validity of the China business trust, providing advices on trust structure, providing advices on trust management and operation, trust restructuring, as well as trust termination and trust property distribution.
Employment
Assisted various foreign-invested entities conducting labor due diligence; advised clients on daily HR matters, including drafting and reviewing labor contracts, employment handbook and internal rules, advising on labor dispatch and employment of foreigners, etc.; advised clients on termination of senior management personnel, including providing legal risk and litigation strategy analysis, designing severance packages and termination process, etc.; represented clients in massive layoffs:
Represented a global leading stainless-steel company in terminating labor relationship with more than 400 employees of its subsidiary, negotiating with employees and the company, designing termination process and severance packages
Represented a Swiss company in terminating labor relationship with more than 300 employees of its subsidiary, negotiating with employees and the company, designing termination process and severance packages
Represented an Italian company in terminating labor relationship with more than 100 employees of its subsidiary, negotiating with employees and the company, designing termination process and severance packages
Represented a global leading logistic company in negotiating a termination plan with an executive employee and reached a settlement during the labor arbitration
Represented a global language evaluation institute in an employment dispute against an examiner and won the case
Dispute Resolution
Provided legal service to a PRC subsidiary company of a world well-known company in auto parts manufacturing industry in an arbitration on contractual dispute with its Chinese supplier
Provided legal service to a world well-known company in Italy specializing construction and engineering with respect to a series of disputes in China (including but not limited to disputes on construction and engineering, loan and labor)
Provided legal service to a subsidiary company of Shanghai Electric Group in two litigation cases on contractual disputes with its supplier and client respectively
Represented a US invested automotive parts company in an arbitration proceeding against one of its suppliers regarding overdue payment
Provided legal service to the subsidiary companies a world well-known company in Italy specializing in manufacture of polyurethane and rubber belts in two litigation cases with one counterparty on contractual dispute and product quality dispute respectively
Provided legal service to a world well-known US asset management company to deal with the dispute with its counterparty in relation to an equity transfer agreement
Represented a wholly foreign invested entity of a well-known French company in a brokerage contract dispute lawsuit against a broker and in a lease contract dispute with an annual rental around RMB 30 million
Provided legal opinion to a Singapore bank client in relation to litigation, acknowledgement and enforcement of Singapore court judgment in the PRC court with respect to the disputes on loan agreements with its several Chinese clients
Represented a wholly foreign invested entity of a well-known U.S. manufacturing company in an arbitration case before CIETAC regarding engineering construction contract
Provided legal opinion to a well-known company in Iceland in relation to an international trade dispute with a PRC company
Provided legal service to a well-known film and television production company in Germany in relation to its dispute with a film and television company in Zhejiang on a license agreement of TV shows
Represented Shanghai Zhadian Gas Turbine Power Generation Co., Ltd. in a tort dispute
Represented a giant US carrier in an administrative case in relation to the customs fraud before Shanghai Customs and Shanghai Intermediate Court, respectively
Advised foreign companies on the customs-related disputes in China with their counter parties
Represented various P&I Clubs and carriers for dozens of the cases before PRC maritime courts
Represented a well-known company in manufacture industry in an international trade dispute arbitration case and two anti-unfair competition lawsuits against its Chinese partner before CIETAC
Represented a famous company in India in an international goods sales contract arbitration case before CIETAC
Represented a Malaysian real estate company in a construction contract arbitration case before CIETAC
Represented a world-leading energy management and automation company in several construction contract arbitration cases before Shanghai Arbitration Commission
Represented a Malaysian real estate company in a share transfer dispute lawsuit against other former shareholders
Represented a well-known company in tourist and resort industry in two lawsuits against its Chinese joint venture partner in relation to joint venture contract dispute
Represented a world leading company in pharmaceutical industry in a contract dispute lawsuit against its Chinese partner
Represented a Sino-foreign joint venture in steel industry in shareholder derivative lawsuit against its shareholder
Represented a world leading company in software industry in an entrustment contract dispute lawsuit against its agent
Represented a joint venture company in two litigations against its Chinese shareholder regarding profit distribution dispute and transfer of land use right respectively
Represented an international school in dealing with anonymous online defamation articles (settled before litigation and articles removed)
Represented a US leading valve manufacturing company in handling its subrogation litigation in China
Represented an Italian belt manufacturing company in handlings its product quality lawsuit in China
Represented CMC in handling several domestic lawsuits in China
Expert reports issued for arbitrations/litigations
Arbitration before CIETAC
As a special China procedural law expert invited by CIETAC and both parties, provided the opinion to the tribunal for a distributorship agreement dispute governed by German law
Arbitration before Hong Kong International Arbitration Center
Provided expert opinion in an equity acquisition contract dispute between an American public company (acquirer) and the French seller
Arbitrations before Singapore International Arbitration Center
Provided expert opinion in a joint venture dispute between a Malaysian automaker and its Chinese partner
Provided expert statement as PRC lawyer for a leading multinational company in game industry with respect to game license
Arbitration before American Arbitration Association
Provided expert opinion in a contract dispute between a US company and its Chinese counter party, involving confidentiality issue
Litigations before the Hong Kong High Court
Provided expert opinion in financial derivatives disputes between international banks and Chinese corporate clients
Litigations before the High Court of the Republic of Singapore
Provided expert opinion with respect to the parallel PRC litigation proceedings associated with the lawsuit between a Singapore citizen and a Chinese citizen before the High Court of the Republic of Singapore
Provided expert opinion under the PRC law in a dispute with respect to service of foreign court proceeding to Chinese companies
Provided expert opinion under the PRC law in a property trust dispute between a Chinese citizen and Singapore citizen
Provided expert opinion in a dispute with an individual as the counter party of the case carrying out of China the cash which much exceeded the maximum amount allowed by the PRC Customs
Provided expert opinion in an international goods trade dispute between overseas buyer and seller
Provided expert opinion in a dispute over corporate acquisition between an Australian company and an England and Wales company
Provided expert opinion in a dispute under the Bond Subscription Agreement among Singaporean parties and other various parties
Provided expert opinion in disputes arising from the Agreements on the Transfer of Contractual Rights among Singaporean and Chinese parties
Litigation before the Superior Court of the State of California
Provided expert opinion in dispute over professional malpractice between a prestigious US law firm and its client
Litigation before the High Court of Justice in England and Wales
Provided expert opinion in dispute over a performance guarantee between two Chinese companies in terms of a long-term time charter party
Honors and Awards
Selected as one of “The A-List-The Visionaries” for 2024 by China Business Law Journal
“Recommended Lawyer (Highly Regarded)” for 2022 and 2023/24 by IFLR 1000
“Leading Individual (highly regarded)” in the Practice Area: Corporate by IFLR 1000
“Leading Individual” in M&A: PRC Firms for 2022, 2023 and 2024 by The Legal 500 Asia Pacific
Selected as one of “The A-List China’s Elite 100 Lawyers” for 2021 and 2022 by China Business Law Journal
“Leading Individual” in the Practice Area: Corporate/M&A for 2017 and 2020 by the LEGALBRAND
“Market-leading Lawyer” for 2019 by Asialaw Profiles
Selected as one of the legal experts on foreign-related matters by PRC Ministry of Justice
“Leading Lawyer” for Corporate/M&A, Banking & Finance, Dispute Resolution & Litigation in Asialaw Leading Lawyers 2018
“Leading Lawyer” for the years of 2014, 2015, 2016 and 2017 by IFLR 1000
“Leading Lawyer” for 2015 by The Legal Media Group
“Leading Lawyer” for 2014 by the China Law/Asia Law
Memberships & Affiliations
Arbitrator, Singapore International Arbitration Centre (SIAC)
Arbitrator, Hong Kong International Arbitration Centre (HKIAC)
Arbitrator, Shanghai International Arbitration Centre (SHIAC)
Arbitrator, Asian International Arbitration Centre (AIAC)
Legal Expert on Foreign-related Matters, PRC Ministry of Justice
Publications
“Legal Consultation for HR Whole Process (Third Edition)”, member of Advisory Committee
Related
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Articles Related
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Deals Related
Zhong Lun Represents VIKING in its Acquisition of Norsafe, the Norwegian Boatbuilder
Zhong Lun Law Firm represented VIKING and acted as the PRC legal counsel for the project and provided comprehensive legal services including legal due diligence, review of acquisition documents and etc.
2018-09-28 -
Awards Related
Nine Practice Areas and 46 Lawyers from Zhong Lun Made to IFLR1000 2024 Rankings
Nine Practice Areas and 46 Lawyers from Zhong Lun are recommended.
2024-08-23
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Bar Admissions/Professional Qualifications
PRC Bar
New York State Bar -
Education
LL.M., New York University, 2001
LL.M., Fudan University, 1999
LL.B., Fudan University, 1990 -
Professional Experience
Equity partner, Zhong Lun Law Firm, November 2017 to present
Managing partner, Broad & Bright Shanghai Office, 2008-2017
Associate & partner, Shanghai Jin Mao Law Firm, 2003-2008
Visiting attorney, Holland & Knight New York Office, September 2001
Visiting Attorney, Ince & Co. Hong Kong Office, August to November 1998
Associate & partner, Pu Dong Law Office, 1994-2002
In-house counsel, Shanghai Medicines & Health Products Import & Export Corporation, 1990-1993 -
Languages
Chinese
English