Cross-Border Capabilities

Transactional

Working together across offices and borders, our transactional lawyers handle every aspect of complex, multi-jurisdictional matters. We deliver strategic advice when and where our clients need it, bringing to bear a strong combination of transactional experience, broad industry knowledge, and an understanding of local cultures and customs.

“The team distinguishes itself through its global platform and ability to coordinate complex multi-jurisdictional transactions. The team delivered practical, actionable advice.”
Chambers Global 2026, Singapore, Corporate M&A

Sidley offers the full suite of corporate and transactional services to our diverse global client base across the U.S., Europe, Asia Pacific, India, Latin America, and the Middle East. Our lawyers work seamlessly with in-house teams, as well as with local counsel as needed, to facilitate multinational transactions. This includes navigating all regulatory requirements needed to get the deal through, including multi-jurisdictional antitrust approval, investment screening, and other regulatory proceedings. We draw upon the breadth and depth of our firm’s multidisciplinary practice areas to complement and enhance our transactional experience.

“The firm is an excellent firm. Sidley has a deep bench globally.”
Chambers Global Guide 2025 - Corporate/M&A (International & Cross-Border)

Experience

Select representations of our cross-border experience include the following.

Representing Kotak Mahindra Capital, HDFC Bank, HSBC Securities, and JM Financial on the US$520 million public offering of units of Cube Highways Trust, marking the first private-to-public InvIT conversion in India and establishing a precedent-setting pathway for private InvITs to access India’s public markets.
Representing Apex Treasury Corp. (NASDAQ: APXT) in its US$4 billion proposed business combination with TECfusions, Inc., a developer and operator of AI-ready data center and power infrastructure.
Representing the Special Committee of the Board of Directors of Utz Brands, Inc. (NYSE: UTZ) in its US$2.9 billion take-private transaction by Intersnack Group GmbH & Co. KG.
Representing Sino Biopharm (HKEX: 1177) and its subsidiary Chia Tai Tianqing Pharmaceutical Group in an exclusive license agreement with AstraZeneca for the development, manufacturing, and commercialization of its PDE3/4 inhibitor, TQC3721, with a total consideration of up to US$1.9 billion in upfront and milestone payments.
Represented Yum China Holdings, Inc. in its US$1.2 billion agreement to acquire ownership of the Pizza Hut brand in Mainland China from Yum! Brands, Inc.
Represented Macquarie Asset Management on ₹150 billion sale of the Safeway Concessions portfolio, comprising nine toll road assets spanning nearly 700 kilometers across key national transport corridors in India, to VINCI.
Representing Apollo-funds as lead investor of an investor group acquiring a 37% minority stake in Syntegon, a leading global technology company.
Represented Athora Holding Ltd. in connection with its €3.5 billion common equity commitment for its acquisition of Pension Insurance CRepresented Athora Holding Ltd. in connection with its €3.5 billion common equity commitment for its acquisition of Pension Insurance Corporation Group Limited. orporation Group Limited.
Represented Optimas OE Solutions Holding, LLC in the carve-out sale of its international business to European private equity firm Exponent.
Represented Kyivstar Group Ltd. in its US$150.9 million secondary offering of common shares.
Representing Vivo Capital, a leading global investment firm focused exclusively on healthcare and life sciences, on the acquisition of Dutscher Group, the European leader in consumables and equipment distribution for R&D laboratories.
Advising joint bookrunners and lead arrangers on Ardshinbank’s US$600 million Eurobond issuance.
Represented Yunnan Jinxun Resources Co., Ltd. (HKEX: 3636) in its initial public offering and H share listing on the Main Board of the Hong Kong Stock Exchange (HKEX). Yunnan Jinxun is a leading manufacturer of high-quality copper cathode, with a strong presence in the Democratic Republic of the Congo and Zambia.
Representing Aboitiz Equity Ventures (PSE: AEV) in formalizing its strategic partnership with Global Infrastructure Partners (GIP), a part of BlackRock, in Aboitiz InfraCapital, Inc. (AIC).
Represented Citigroup, ICICI Securities, Morgan Stanley, Goldman Sachs, BofA Securities, Avendus Capital, Axis Capital, BNP Paribas, CLSA, HDFC Bank, IIFL Capital, JM Financial, Kotak Mahindra, Motilal Oswal, Nomura, Nuvama, SBI Capital Markets, and UBS Securities, on the US$1.2 billion initial public offering of equity shares of ICICI Prudential Asset Management Company Limited. This is the largest IPO in India by an asset management company to date, and the fourth largest IPO of 2025 in India.
Represented the deal managers in connection with New World Development Company Limited’s exchange offer, which resulted in the exchange of approximately US$2.53 billion of its existing securities for around US$1.36 billion of new securities. The new securities comprised perpetual securities and bonds, each supported by intercompany loans that are secured by flagship property assets and guaranteed by New World Development.
Represented Softcare Limited (HKEX: 2698), in connection with its US$306.6 million initial public offering on the Main Board of The Stock Exchange of Hong Kong.
Represented the joint global coordinators and lead managers, BOC International, Bank of China (Hong Kong), China CITIC Bank International, China International Capital Corporation and Citi, on the establishment of CNY 10 billion Medium Term Note Programme by JSC National Company KazMunayGas and its debut offering of CNY 1.25 billion five-year senior unsecured Dim Sum bonds. It is the first time an issuer from Central Asia has established a debt programme dedicated to the Chinese yuan (Dim Sum) bond market.
Represented Qualcomm Incorporated (NASDAQ: QCOM), a leading semiconductor and telecommunications technology company headquartered in San Diego, California, in its acquisition of Arduino, an Italian-based open-source hardware and software company.
Representing Affinity Partners as part of an investor consortium, along with PIF and Silver Lake, in an all-cash acquisition of Electronic Arts Inc. (NASDAQ: EA), a global leader in digital interactive entertainment, with an enterprise value of approximately US$55 billion.
Representing Aspen Insurance in its pending US$3.5 billion acquisition by Sompo Holdings.
Advised Xignux, a Monterrey, México-based leader in the energy and food industries, in connection with the US$5.275 billion sale to GE Vernova Inc. (NYSE: GEV) of its remaining fifty percent stake of Prolec GE, its joint venture with GE Vernova Inc., which was originally established in 1995. The deal reportedly marks the largest private transaction in México’s history, as reported by Reforma.
Represented Kotak Mahindra, Axis Capital, BNP Paribas, Citigroup, HDFC Bank, HSBC, ICICI Securities, IIFL Capital, J.P. Morgan, and SBI Capital Markets on the US$1.75 billion initial public offering of equity shares of Tata Capital Limited. This is the largest IPO in India in 2025, fourth-largest IPO in Indian history and the largest-ever public offering by a non-banking financial company (NBFC) in India.
Advised Vinci Compass, a leading Brazil-based asset manager, on the launch of Vinci Climate Change (VICC), the largest sustainable infrastructure fund in Latin America to classify as an Article 9 fund under European regulations (SFDR).
Representing Woodward, Inc., a leader in aerospace and industrial energy control solutions, in its acquisition of aircraft equipment manufacturer Safran’s electromechanical actuation business based in the United States, Mexico, and Canada.
Represented the underwriters in the US$30 million cross-border IPO by Brazil Potash Corp., an exploration and development company with a potash mining project located in the state of Amazonas, Brazil.
Represented DaVita Inc., a leading provider of kidney care services, in its agreement to expand its international operations in Brazil and Colombia and its entry into Chile and Ecuador, a deal involving four separate acquisitions from Fresenius Medical Care for a total purchase price of US$300 million.
Represented KKR and Barghest Building Performance (bbp), a leading Energy-Savings-as-a-Service (ESaaS) provider for heating, ventilation and air conditioning (HVAC) systems in Asia, on the sale of bbp to Actis, a leading growth markets investor in sustainable infrastructure.
Advised Stonepeak on its US$1.3 billion preferred equity investment into Princeton Digital Group, a leading data center operator in Asia Pacific, headquartered in Singapore with operations in Singapore, Japan, India, Indonesia, China, and Malaysia.
Represented Virgin Australia Holdings Limited in connection with its AUS$685 million initial public offering (IPO) of ordinary shares on the Australian Securities Exchange. This was the first major IPO in Australia in 2025 and the largest IPO by an airline in the Asia-Pacific region in a decade.
Represented Athora Holding Ltd. (Athora), a leading European savings and retirement services provider, in its approximately £5.7 billion acquisition of Pension Insurance Corporation Group Limited (PICG), a specialist insurer of UK defined benefit pension schemes.
Represented ICICI Securities, JM Financial and Nomura in connection with the US$185 million initial public offering of equity shares of Kalpataru Limited. Kalpataru Limited is a prominent, integrated real estate development company with a presence across the Mumbai Metropolitan Region and Pune in India.
Represented The Rohatyn Group, an investment firm specializing in emerging markets and real assets, in its US$710 million acquisition of an entity that holds Rayonier Inc.’s 77% interest in Matariki Forestry Group, a New Zealand joint venture.
Advised Stellex Capital Management (“Stellex”), a leading private equity firm, on its agreement to acquire the environmental technology business of Dürr Group, a global mechanical and plant engineering firm headquartered in Germany. The transaction includes the transfer of the Clean Technology Systems (CTS) division, which specializes in air pollution control and environmental solutions for industrial clients worldwide.

“Sidley Austin's corporate team assists us in handling a wide range of transactions, from private equity-related investments to complex cross-border deals. They have a deep understanding of customer needs and provide a high standard of service.”
Legal 500 2025 – Hong Kong – Corporate (including M&A)

Acted as sole international counsel in the US$250 million initial public offering (IPO) of Belrise Industries Limited, which was underwritten by Axis Capital, HSBC, Jefferies, and SBI Capital Markets. Belrise is an Indian automotive component manufacturer providing safety-critical systems and engineering solutions across two-wheelers, three-wheelers, four-wheelers, commercial vehicles, and agri-vehicles.
Represented Golden Goose S.p.A, a portfolio company of Permira, in connection with the issuance of €480 million in euro senior secured floating rate notes due 2031. Golden Goose also obtained a separate €100 million super senior revolving credit facility.
Representing Evri, a portfolio company of funds managed by affiliates of Apollo Global Management, Inc. (“Apollo”), in its merger with DHL eCommerce (“DHL”), the e-commerce logistics specialist of DHL Group.
Represented the bookrunners in connection with the SEC-registered bond offering by Woodside Finance Limited of US$3.5 billion, comprising US$500 million 4.900% Senior Notes due 2028, US$1.25 billion 5.400% Senior Notes due 2030, US$500 million 5.700% Senior Notes due 2032, and US$1.25 billion 6.000% Senior Notes due 2035, each guaranteed by Woodside Energy Group Ltd. (“Woodside”).
Advising the recently announced World Sevens Football (W7F), a revolutionary grand slam series for professional women footballers. W7F will launch in May 2025 in Portugal, with events to follow in cities across the U.S., Mexico, Asia, Europe, and beyond.
Representing Clearlake Capital Group, L.P. in its US$7.7 billion take-private acquisition of Dun & Bradstreet Holdings, Inc. (NYSE: DNB), a global provider of business decisioning data and analytics. Dun & Bradstreet offers financial reporting insights, tools for business-to-business risk assessments, and data-driven marketing solutions. Under the terms of the agreement, Dun & Bradstreet shareholders will receive US$9.15 in cash per share of common stock outstanding.
Represented Grain & Protein Technologies, a portfolio company of American Industrial Partners (AIP), in the carve-out acquisition of the agribusiness equipment operations (FoodTech Equipment) of Munters FoodTech. Munters FoodTech is one of three business areas of Sweden-based Munters AB, a global leader in climate control solutions. FoodTech Equipment specializes in critical air quality, movement, and temperature control solutions in the poultry and swine markets, including fans, ventilation systems, cooling systems, and heaters within livestock farming and greenhouse end-markets.
Represented XtalPi Holdings Limited (HKEX: 2228) (XtalPi) in connection with its HK$1.13 billion (US$145 million) placing of 264 million new shares under general mandate. It is one of the largest share placements in Hong Kong in the past year.
Acted as international counsel to ICICI Securities, DAM Capital, Jefferies, Nomura, Nuvama, and SBI Capital Markets, the book-running lead managers, on the US$645 million initial public offering (IPO) and US$350 million associated pre-IPO sale of equity shares in Afcons Infrastructure Limited. Afcons Infrastructure is the flagship infrastructure, engineering, and construction company of the Shapoorji Pallonji group, a diversified Indian conglomerate.
Advised London-based private investment firm RoundShield Partners LLP (RoundShield) on the successful raising of its fifth European special opportunities fund (Fund V), which has now held a final closing on total commitments of over US$1 billion, nearly US$150 million above its fundraising target.
Advised QuantumPharm Inc. (HKEX: 2228) (also known as XtalPi) as Hong Kong and U.S. counsel in its initial public offering (IPO) and listing on the Main Board of the Stock Exchange of Hong Kong (HKEX). XtalPi becomes the first Specialist Technology Company listed under Chapter 18C of the Hong Kong Listing Rules that came into effect in March 2023, setting a significant milestone for the history of Hong Kong IPOs.
Acted as international counsel to the underwriters, Axis Capital, Jefferies, and SBI Capital, in connection with the US$2.15 billion follow-on public offering of equity shares of Vodafone Idea Limited, India’s third-largest telecommunications service provider. This marks India’s largest-ever follow-on public offering of equity shares.
Represented Bilkul Football WBA, owned by Florida-based entrepreneur Shilen Patel and his father Dr. Kiran C. Patel, in its agreement to acquire West Bromwich Albion Football Club.
Represented Z Capital Partners' portfolio company, Techniks Tool Group, in its acquisition of The Eppinger Group. This cross-border transaction involved entities from the U.S., Germany, and India, highlighting the global reach and strategic importance of the deal. The acquisition aims to enhance Techniks Tool Group's capabilities and market presence, leveraging The Eppinger Group's expertise and resources across these key regions.
Advised Stonepeak, an alternative investment firm specializing in infrastructure and real assets with approximately US$57.1 billion of assets under management, on its strategic, preferred investment into AGP Sustainable Real Assets, a Singapore-based global infrastructure and real assets developer and operator.
Represented Clearlake Capital Group, L.P. in its acquisition of Chelsea Football Club and affiliates in a consortium co-led with Todd Boehly, chairman and CEO of Eldridge. The consortium also included Hansjörg Wyss, founder of the Wyss Foundation, and Mark Walter, co-founder and CEO of Guggenheim Capital.
Represented Athene Holding in its merger with Apollo Global Management in an all-stock transaction (with Athene valued at approximately US$11 billion).
Acted as international counsel for GDS Holdings Ltd, a developer and operator of high-performance data centers in Asia with a diverse investor base, on its partnership with the Indonesia Investment Authority, Indonesia’s sovereign wealth fund, to develop and expand the data center landscape in Indonesia.
Represented Volkswagen AG in its co-investment with Ford Motor Company in autonomous vehicle technology company Argo AI, valuing Argo at US$7.1 billion.
Represented AmerisourceBergen Corporation, the world’s second largest drug distributor, in its cross-border acquisition of PharmaLex Holding GmbH, a prominent Germany-based provider of specialized services for the pharma, biotech, and medtech industries, for €1.28 billion (US$1.35 billion).
Represented EdgePoint Infrastructure, an ASEAN–based independent telecommunications infrastructure company backed by DigitalBridge Group, Inc., on its landmark acquisition and leaseback of 2,934 telecom towers in the Philippines from Smart Communications Inc. and Digitel Mobile Philippines, Inc.
Represented WorleyParsons in the drafting and negotiating of the company's U.S. credit agreement with Bank of America, a US$700 million senior revolving credit facility.
Representing Canada-based Magna International Inc., a mobility technology company and one of the world’s largest automotive suppliers, in its agreement to acquire the Veoneer Active Safety business from SSW Partners for US$1.525 billion in cash.
Represented PT Indosat Tbk in the procurement of a satellite from Orbital Sciences Corporation and the related shareholder arrangements with an international satellite operator.
Represented Lightspin Technologies Ltd. in the sale of all of its issued and outstanding securities to Cisco Systems, Inc.
Represented Lightspeed and Sequoia as lead investors in the Series C funding round of Aspire, a Southeast Asia-based neobank that offers a full-stack finance operating system for businesses. The funding round was co-led by Lightspeed and Sequoia, with other investors including PayPal Ventures, Tencent, Mass Mutual Ventures and LGT Capital Partners.
Represented Mapbox, Inc. in its Series E preferred stock financing, led by SoftBank Group Corp.
Represented Inigo Labs, Inc. in connection with its series seed financing.
Represented the underwriters in connection with the U.S. Securities and Exchange Commission -registered US$2.75 billion offering of senior notes by BHP Billiton Finance (USA) Limited.
Represented DigitalBridge Investment Management in the launch of the Xenith IG fiber platform in Asia. Xenith IG was jointly formed by DigitalBridge’s investment management arm and funds affiliated with Columbia Capital.
Represented Soho House in its US$420 million initial public offering.
Represented the underwriters in connection with the issuance of Hyundai Capital America Rule 144A and Regulation S offerings of US$750 million.
Represented Morgan Stanley and Goldman Sachs & Co. LLC, as representatives of the underwriters, in connection with the US$630 million initial public offering of common shares of Bausch + Lomb Corporation.
Represented IO Biotech in connection with its US$115.1 million initial public offering.
Represented Argo Blockchain, the only cryptocurrency mining company listed on the London Stock Exchange, in connection with its U.S. Securities and Exchange Commission -registered initial public offering and concurrent Nasdaq listing.
Represented Partners Group with its investment in the Seabras-1 fiber optic telecommunications cable between the U.S. and Brazil, the first direct fiber optic cable between New York and São Paulo and the first project finance deal for a subsea cable project backed by an export credit agency. This deal was recognized as a 2016 “Deal of the Year” by Latin Finance.
Represented GSK in establishing a £10 billion EMTN Programme for the Consumer Healthcare group. GSK subsidiaries GSK Consumer Healthcare Capital NV B.V. and GSK Consumer Healthcare Capital UK plc act as issuers under the programme.
Advised the underwriters in Pharvaris' US$190 million initial public offering.
Advised Marathon Asset Management, the leading U.S.-based global credit investment manager on the launch of Marathon DCF 2, a credit dislocation fund with a U.S./EU structure and a US$2.5 billion target that enables rescue lending and other forms of lending.
Worked with Folium, a leading UK-based global biotech food company, to raise their Fund III, which will focus on investments in agriculture and timber, and is targeting US$500 million. This is a cross-border project between the U.S. and the UK.
Represented UBS PR Funds, the Puerto Rico-based investment bank and financial services company, and Banco Popular in the registration of sponsored funds as well as ongoing representation of such funds. We are also represented certain of these funds in a proxy contest and litigation defense from Ocean Capital, involving nine separate investment funds and monthly adjournments.
Represented Clearlake Capital in the financing for its reported US$5.4 billion acquisition of Quest Software. The transaction involved committed first and second lien credit facilities. It is also one of Clearlake’s first cross-border acquisitions and required a complex multijurisdictional credit support package.
Represented EQT Private Equity and PRO Unlimited in the financing for PRO’s acquisition of Geometric Results, Inc. This complex financing included incremental commitments under a multijurisdictional ABL, as well as a new FILO tranche, and incremental second lien notes issued in multiple currencies under an existing indenture.
Represented Spanish language media company Univision Communications and its parent company, Univision Holdings, Inc., in connection with Univision’s acquisition of the content and media business of Televisa.
Represented Macquarie Infrastructure and Real Assets Holdings Pty Limited, as private equity sponsor, in connection with the AUS$1.85 billion (US$1.43 billion) term loan B transaction, the largest ever done in the Australian market.
Represented Safe Harbor Marinas in its US$2.11 billion sale to Sun Communities, Inc., a publicly traded REIT.
Represented EW Group GmbH in its acquisition of Hygiena from Warburg Pincus.
Representing Compass Partners and its portfolio company Rodenstock GmbH, a German manufacturer of ophthalmic lenses and spectacle frames, in the acquisition of Rodenstock Group by Apax Funds.
Represented EQT Private Equity and Verdane Capital in their sale of Forsta to Press Ganey.
Represented ARDIAN in its acquisition of a majority stake in GBA Group alongside GBA’s management team and Quadriga Capital.
Represented China Evergrande Group in the introduction of the Dubai-based NWTN Inc as a strategic investor in its EV arm Evergrande New Energy Vehicle for a total investment amount of US$500 million. After the transaction, NWTN will hold a 27.5% stake in NEV.
Represented Electronics for Imaging, Inc. in the sale of eProductivity Software, to Symphony Technology Group.
Represented Stonepeak Partners LP in its agreement to acquire a 50% interest in the Key Access Pipeline System, a Canadian natural gas liquids and condensate pipeline system.
Represented Clearlake Capital Group L.P. in its joint acquisition of Infogix, Inc., a multinational data controls and analytics software company, with TA Associates.

Recognition

Sidley is widely recognized by clients and peers alike as first-in-class for its cross-border capabilities, garnering top rankings and awards around the world.

2025 Legal Business Awards
“US Law Firm of the Year”
“Highly Commended” in the “Life Sciences Team of the Year” category

China Business Law Awards 2025
Named a “Firm of the Year” in the following categories:

Automotive, Industrials and Manufacturing
Banking & Finance
Capital Markets (Hong Kong & Overseas)
M&A (Outbound)
Real Estate and REIT

Chambers Global 2025
China – International & Cross-Border Transactions (International Firms)
Singapore – International & Cross-Border Capabilities (International Firms)
UK – Finance & Capital Markets (International & Cross-Border)
USA – Corporate M&A (International & Cross-Border)
USA – Energy Sector (International & Cross-Border)
USA – Finance & Capital Markets (International & Cross-Border)
USA – Investment Funds & Asset Management (International & Cross-Border)
USA – Life Sciences & Pharmaceutical Sector (International & Cross-Border)
USA – Technology Sector (International & Cross-Border)

Law.com International – Asia Legal Awards 2024
“International Law Firm of the Year”
“Securities Firm of the Year”

Law.com International – British Legal Awards 2024
“International Law Firm of the Year”

Chambers Asia-Pacific and Greater China Region Awards 2024
Winner of the “China (International Firms) Best Client Service Award”

Bloomberg, Mergermarket, and LSEG 2024 M&A/PE league tables
Top 10 ranking for global private equity (up to US$500 million) by value and deal count

India Business Law Journal 2024
Recognized as a “Top Foreign Law Firm”

HFM Asia Services Awards 2024
“Best Onshore Law Firm”

The Lawyer Awards 2025
“Commended” in the “Transatlantic Firm of the Year” category