With an outstanding reputation in Canadian business law and a longstanding on-the-ground presence in the Asia-Pacific region, Stikeman Elliott provides the two essential elements required to advise Chinese clients - professional expertise and an understanding of the commercial and cultural context of our clients' expectations.
We have acted on the majority of large acquisitions by Chinese companies of Canadian assets in recent years. Our experience includes acting for some of China's most prominent companies and state-owned enterprises, including China National Offshore Oil Company, Sinopec International Petroleum Exploration and Production Corporation, China National Petroleum Corporation, CNNC Overseas Uranium Holding Ltd., CITIC Group and the Cheung Kong Group. Our extensive regulatory and government relations practices - notably in international trade and antitrust - are another key to success for Stikeman Elliott's Chinese clients, who turn to the firm regularly for advice on the full range of legal issues related to acquisitions within Canada by foreign entities.
The firm has also acted on the vast majority of private placements undertaken by large PRC (including HK) companies into Canada in conjunction with IPOs on the HKSE or Rule 144A offerings into the United States. As well, the firm's extensive natural resources practices including energy and mining in Toronto, Calgary, Vancouver, London and Sydney provide clients with expertise and knowledge in key financial and capital market locations for the sector.
Specific recent experience includes acting for:
- Renergy Petroleum (Canada) Co., Ltd., an affiliate of Changjiang Investment Group Co., Ltd. in its acquisition of certain assets from and joint venture with Sunshine Oilsands Ltd. involving initial aggregate capital commitment of up to C$250M.
- China National Offshore Oil Company as Canadian counsel in its US$19.5B cash acquisition (including assumption of debt) of Calgary-based Nexen Inc., the largest Chinese acquisition of a foreign company.
- Chengdu Tianqi Industry (Group) Co., Ltd. in the C$806M acquisition by Tianqi's subsidiary, Windfield Holdings Pty. Ltd., of all the shares of Talison Lithium Limited not already owned by Windfield.
- China Guangdong Nuclear Power Holding Co. Ltd. in its A$2.2B acquisition of ASX/TSX listed Extract Resources Ltd.
- Bright Food Group Co. in its US$1.9B acquisition of a 60% controlling interest in Weetabix Ltd. from private equity owner Lion Capital LLP. The transaction represents the largest overseas acquisition by a Chinese company in the food and beverage sector.
- Dalian Wanda Group Co. as Canadian counsel in its US$2.6B acquisition of U.S. cinema chain AMC Entertainment Holdings. The transaction represents the largest overseas acquisition by a Chinese company in the entertainment industry.
- Elemental Minerals Limited in its supported A$190M take-over offer from Dingyi Group Investment Limited.
- Port de Djibouti SA in the US$185M acquisition of a 23.5% share by China Merchants Holdings.
- Western Mining Group Co., Ltd. in its C$250M acquisition of Inter-Citic Minerals Inc.
- PetroChina International Investment Company Limited in its acquisition of a 60% working interest in Athabasca Oil Sands Corp.'s MacKay River and Dover oil sands projects for C$1.9B and in its subsequent acquisition of the remaining 40% of the MacKay River project for C$680M.
- Hutchison Whampoa Luxembourg Holdings S.à.r.l. and L.F. Investments (Barbados) Limited, the two principal shareholders of Husky Energy Inc. in their $C707M private placement purchase of additional common shares of Husky.
- Sinopec International Petroleum Exploration and Production Corporation in its C$10.3B acquisition of Addax Petroleum Corp., the largest-ever overseas acquisition by a Chinese company.
- Teck Resources Limited in the C$1.74B private placement of Class B subordinate voting shares to China Investment Corporation.
- Bank of China Investment Group in the C$230M equity investment, together with China Life Insurance Company and others, in Sunshine Oilsands Limited.
- CNNC International in its C$31M acquisition of Western Prospector Group Ltd.
- CNPC International Ltd., a wholly-owned subsidiary of China National Petroleum Corporation, in its C$499M offer to acquire Verenex Energy Inc.
- Sinopec International Petroleum Exploration and Production Corporation in its C$2B acquisition of Tanganyika Oil Company Ltd.
- SinoCanada Petroleum Corporation in connection with its acquisition of an additional 10% interest in the Northern Lights Partnership from Total Canada E&P Ltd.
- Stanley Power, a subsidiary of Cheung Kong Infrastructure Holdings Limited and Hong Kong Electric Holdings Limited in connection with its acquisition of the TransAlta interest in the Meridian Limited Partnership and the associated senior debt refinancing.
- Cheung Kong Infrastructure Holdings Limited and Hong Kong Electric Holdings Limited in their NZ$785M acquisition of Vector Wellington Electricity Network Limited.
- Cheung Kong Infrastructure Holdings Limited in its C$629M acquisition of TransAlta Power LP.
- CITIC Canada Energy Limited and the CITIC Group in the sale of 50% of CITIC Canada Energy Limited to KazMunai Gas EP.
- CITIC Group in its US$1.9B acquisition of the Kazakhstan assets of Canada-based Nations Energy Company Ltd.
Our Presence in Asia and the Pacific Rim
For over twenty years, Stikeman Elliott has been the dominant Canadian legal presence in Asia and the Pacific Rim, including China, Hong Kong, Japan, South Korea, India, Australia, New Zealand, Thailand and Singapore. Historically, Stikeman Elliott focused on Canadian investment into the region and built up a substantial practice through offices in Hong Kong and Singapore. Today, reflecting the position of Canada as a target for rapidly expanding Asian economies and significant sources of capital, the firm, through its Canadian and Sydney offices, provides advice on a large number of significant transactions from Asia and the Pacific Rim into Canada. Practice leaders of the firm regularly travel throughout the Asia-Pacific region, in addition to making quarterly or more frequent visits to China, Hong Kong, South Korea and India.