Lee and Li Received Two Major IFLR Asia-Pacific Awards in 2022
For our professional and sophisticated legal strength in the field of private equity, mergers and acquisitions and capital markets, Lee and Li is awarded the two major IFLR (International Financial Law Review) Asia-Pacific Awards in 2022.
1. NATIONAL LAW FIRM OF THE YEAR: Taiwan
Lee and Li is awarded the National Law Firm of the Year in Taiwan and has held the position of the National Firm of the Year/Most Innovative National Firm of the Year for the past decades.
2. DEAL OF THE YEAR: Project finance - Greater Changhua 1 offshore wind farm
As the world leader in offshore wind business and green energy, in 2016, Ørsted established its APAC hub in Taiwan to lead energy transformation and develop renewable energy solutions in APAC.
Ørsted divested 50% of the 605 MW Greater Changhua 1 Offshore Wind Farm to global investment group Caisse de dépôt et placement du Québec (CDPQ) and Cathay PE, by selling 50% of the share equity in Greater Changhua SE Holdings Ltd to Mercury Taiwan Holdings Limited (a holding company established by CDPQ and Cathay PE jointly). Ørsted's divestment of the 50% ownership in the 605 MW Greater Changhua 1 Offshore Wind Farm is a significant milestone in Taiwan’s energy sector for the major developer to join force with global-renowned investor CDPQ.
Lee and Li, along with Allen & Overy, assisted in devising the deal structure, pre-closing restructuring, legal due diligence, the preparation and negotiation of transaction documents, project finance, obtaining relevant regulatory approvals and the closing of the transaction, as well as post-closing integration matters.
After nearly three years of continuous effort from all parties, the deal formally closed on November 3, 2021. Aside from the above-mentioned scope of work, Lee and Li actively involved in designing the deal structure and corporate governance scheme to suit the needs of the sponsors and the buyer's financiers. Lee and Li leveraged the flexibility afforded to preferred shares under the Taiwan Company Act, introduced an innovative shareholding structure and supported in communications with various Taiwan regulators to secure their endorsement on the structure. The governance structure is unseen in local practice and is expected to serve as a benchmark for future endeavors.
For a full list of IFLR Asia-Pacific Awards 2022: https://www.iflr.com/article/b1x65841x3sqr7/iflr-asia-pacific-awards-2022-winners-announced?mkt_tok=Mzc2LUtWVi0xNzcAAAGDObnoToTw53dXGbmwJ94v6pWqlYiWqfRm5h8gR45jqJecGeZQ3t5IiEgdT7YdZJzSp_Tfti2Wuz5oU0CZvNc2_WXDydcutlsEsvs1qDh-77Dm