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Weil Recognized for its Leading Role in Two Deals of the Year 2023 by China Business Law Journal

Weil has been recognized for its leading role in Bain Capital’s $3.16 billion take-private of Chindata Group Holdings Limited (Chindata Group) and the $6.5 billion business combination of Vistra Group and Tricor Group, which have both been named a Deal of the Year 2023 by China Business Law Journal.

Weil represented Citigroup Global Markets Asia as financial advisor to the special committee of the board of directors of Chindata Group in connection with the $3.16 billion take-private acquisition of U.S.-listed Chindata Group by Bain Capital. Chindata Group is a leading carrier-neutral hyperscale data center solution provider and a first mover in building next-generation hyperscale data centers in Asia-Pacific emerging markets including China, India and Southeast Asia. The transaction was the largest take-private deal involving a Chinese company in 2023, according to Mergermarket.

Weil also acted as counsel to the lead co-investor in the $6.5 billion business combination of Tricor Group and Vistra Group Ltd, two large portfolio companies of BPEA EQT (formerly known as Baring Private Equity Asia and now known as EQT Private Capital Asia). The successful merger of the two Asia-headquartered corporate services providers creates a market leader in the global business services space. This landmark transaction was reported by Reuters as one of Asia's largest private equity-backed transactions last year.

The Weil team involved in the two award-winning transactions was led by Hong Kong partner Chris Welty, with the support of the firm’s multi-disciplinary specialists in the United Kingdom and the United States.

The global Weil team included Jie Yuan, Max Chu and Qi Zhang in Hong Kong; Stephen Fox, James Harvey, Aron Joy and Oliver Rosshandler in London; Greg Featherman in New York, and Shawn Cooley and Adé Heyliger in Washington D. C.

China Business Law Journal’s annual Deal of the Year awards honor landmark transactions involving China based on their overall significance, complexity and innovative nature.