Jem Li is managing partner of the firm’s Beijing office. He focuses his practice on a broad range of cross-border transactions, including mergers and acquisitions, private equity investments, venture capital investments, and foreign direct investment in China.
Mr. Li’s representations include successful deals handled on behalf of such leading entities as the Warner Music Group, Morgan Stanley, Goldman Sachs, IBM Corp., Johnson & Johnson, Lehman Brothers, Merrill Lynch, AIG, United Parcel and Fidelity Investments. He also counseled the Beijing Organizing Committee for the Games of the XXIX Olympiad in Beijing. Mr. Li has represented numerous prominent Chinese clients in recent years, including Agriculture Bank of China, China National Aviation Fuel Group, Jinchuan Group Ltd. and Nuctech Company Ltd.
Prior to practicing in China, Mr. Li focused on capital markets transactions, such as initial public offerings, notes offerings and 144A offerings, private equity investments, and investments in public funds and hedge funds.
Mr. Li’s experience includes representation of:
Cross-border Mergers and Acquisitions
- a Chinese state-owned enterprise in connection with its various mining rights purchase and investment in Europe, North America, Latin America, South America, Africa, and Central Asia;
- Warner Music Group in a merger and acquisition transaction;
- a Japanese client in connection with the sale of an equity interest in a major hotel in Shanghai;
- a wireless value-added service company in Guangzhou, China in connection with the sale of an equity interest to a Japanese company;
- Amphenol in connection with its purchase of a 100 percent equity interest in a wholly foreign owned company in Tianjin, China;
- Acon Laboratories, Inc., a California corporation and its affiliated companies in China and Hong Kong, in connection with a US$175 million share purchase transaction for non-PRC markets with Inverness Medical Innovations, Inc., a Delaware corporation with its headquarters in Waltham, Mass.;
- Qiagen N.V., a German company in connection with an asset purchase transaction with Beijing Tianwei Biotech Co., Ltd.;
- Guang Yuan Media Holdings, Ltd. in connection with its share exchange with Epin Media Holdings, Ltd., both offshore companies with business in China on TV screen advertising on Chinese railroads;
- Renco Group Inc., in connection of its equity and assets purchase (including assets in China) from Delphi Corporation;
- China National Aviation Fuel Group, the largest PRC aviation fuel company, in connection with its international acquisition activities and contract review;
- Acon Biotech (Hangzhou) Co., Ltd., in connection with assets sale to Inverness Medical Innovations, Inc. for PRC markets; and
- Celanese in connection with its mergers and acquisitions transactions in China.
Capital Market Transactions
- an Israeli private equity fund in a $15 million PIPE deal related to a NASDAQ-listed company;
- Shareholders of 3SBio (a Chinese biotech company) in connection with the IPO of 3SBio’s shares on NASDAQ;
- Morgan Stanley Dean Witter as underwriter in connection with SeagateTechnology’s high yield offering;
- Goldman, Sachs & Co. as underwriter in connection with Overseas Shipholding Group’s debt offering and in connection with State Street Bank’s common stock offering;
- IBM Corp. in connection with certain U.S. regulatory issues;
- Johnson & Johnson in connection with certain general corporate matters;
- Lehman Brothers Inc. as underwriter in connection with State Street Bank’s debt offering;
- WRC Media in connection with its initial public offering; and
- Merrill Lynch in connection with public funds matters;
Private Equity and Venture Capital Financing
- AIG in connection with private funds matters;
- Shenzhen Development Bank in connection with the sale of an equity interest to Newbridge Capital;
- SAIF Partners in connection with its private equity investment in a number of companies in China, including Perfect World, Baitai Media, MainOne Information Technology Co., Ltd., Taihe, Yanhuang, and Longfan;
- Fidelity in connection with its private equity investment in a major Web search company in China;
- New Oriental Education (Group) in connection with private equity investments by certain strategic investors;
- Bioveda China Ltd. in connection with the acquisition by a Cayman subsidiary of 15 percent of the shares of Jiangsu Ealong Biotechnological Sciences Company Limited by Shares;
- Orchid Asia Group Management Limited in connection with private equity investments in a number of companies in China;
- Actis, a British private equity fund, in connection with its investment in Hebei Inpac International Group specializing in the packaging business;
- Morgan Stanley in connection with its financing agreements with China Investment Corporate Ltd.;
- China Southern Fund, one of the largest PRC fund management companies, in connection with its US$4 billion QDII fund offerings; and
- Legend Capital in connection with a number of its investment in Chinese companies.
Foreign Direct Investment and Other Matters
- Avgol Ltd., an Israeli company in connection with setting up a non-woven fabrics joint venture company in Hubei, China;
- UPS in connection with the deregistration of a joint venture in China;
- The Beijing Organizing Committee for the Games of the XXIX Olympiad in connection with various matters of the XXIX Olympiad at Beijing;
- Pfizer Pharmaceuticals Limited in connection with certain regulatory matters;
- a Chinese state-owned company in connection with a litigation matter in an African country; and
- a U.S. citizen in connection with a criminal investigation in China.
Mr. Li received a B.A. in English from Hunan Teachers University Foreign Languages College in 1981, a Master’s in British and American Literature from Yunnan Teachers University Foreign Languages College in 1985, and a Master’s of International Affairs from Columbia University in 1987. He received a J.D. in 1999 from Pace University School of Law.