Three S&C Matters Named ‘Deals of the Year’ 2025 by China Business Law Journal

Three S&C matters have been recognized as “Deals of the Year” in the Equity Capital Markets and M&A categories by China Business Law Journal. The awards spotlight standout China-related matters from the past year, selected for their significance, impact and innovation.

Kay Ian Ng played a leading role in each of the three award-winning matters, reflecting his versatile market-leading practice across mergers and acquisitions as well as capital markets transactions.

• Equity Capital Markets: S&C is advising ENN Natural Gas on its proposed pre-conditional $11.6 billion privatization of ENN Energy Holdings and its proposed concurrent listing on the Hong Kong Stock Exchange. The S&C team is led by Kay Ian Ng and Gwen Wong.
• Equity Capital Markets: S&C advised Morgan Stanley on the $7.1 billion privatization of ESR Group. The S&C team was led by Kay Ian Ng.
• M&A: S&C advised DCP Capital on its acquisition from Alibaba entities of its majority stake in, and mandatory general offer for, Sun Art Retail Group, valuing the target at approximately $2 billion. The S&C team was led by Kay Ian Ng.