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Mark J. Lehmkuhler
Partner

Mr. Lehmkuhler is a member of Davis Polk’s Corporate Department, resident in Hong Kong. He has worked in our Hong Kong and Tokyo offices since 1997. His work focuses on merger and acquisition transactions, including private equity portfolio investments, leveraged buyouts, tender offers, and cross-border joint ventures and strategic alliances throughout Asia. He has also advised a number of institutional clients in connection with the formation of Asia-focused private equity funds and other investment vehicles, and advises clients on U.S. trade and investment laws applicable to cross-border transactions, including the Foreign Corrupt Practices Act (“FCPA”). He also has significant experience in Asian high-yield bond financings and other capital markets transactions.

In 2000, Mr. Lehmkuhler served for one year as an executive director of The iReality Group, an Asian tech-focused boutique investment bank, where he concentrated in M&A advice and transaction execution throughout the Asia-Pacific region for iReality and its clients.

Contact
  • Hong Kong
    Davis Polk & Wardwell
    Hong Kong Solicitors
    The Hong Kong Club Building
    3A Chater Road
    Hong Kong
    P: +852-2533-3305
    F: +852-2533-1705
Bar Admissions
  • Hong Kong
  • State of New York
Education
  • B.A., University of Virginia, 1986
    • Echols Scholar
  • J.D., University of Virginia School of Law, 1995
    • Order of the Coif
    • Editorial Board, Virginia Law Review

Work Highlights
M&A Advice
  • TPG on its investment in China Ruifeng Galaxy Renewable Energy Holdings Limited by way of a US$60 million convertible bond and US$15 million in warrants
  • Lazard and Houlihan Lokey as financial advisers to an independent committee of the board of directors of Nasdaq-listed China Nuokang Bio-Pharmaceutical Inc., a fully integrated Chinese biopharmaceutical company, in connection with its US$112 million going-private management buyout
  • Philippine Long Distance Telephone Company (PLDT), the leading telecom provider and one of the largest companies by market capitalization in the Philippines, on the sale of its business processing outsourcing (BPO) operations to CVC Capital Partners
  • CITIC Capital on the US$3.7 billion going-private acquisition of Nasdaq-listed Focus Media Holding Limited, China’s largest lifestyle-targeted interactive digital media network, together certain other private equity funds, including Carlyle, FountainVest and China Everbright, and Mr. Jason Jiang, the Chairman and Chief Executive Officer of Focus Media
  • DLF Limited, the largest commercial real estate developer in India by sales, in connection with its US$300 million sale of Amanresorts, a luxury hotel group which currently owns and manages approximately 25 luxury hotels and resorts across the world
  • Nasdaq-listed Shanda Interactive, a leading interactive entertainment media company in China, on a US$2.3 billion going-private buyout
  • Abax Global Capital as the private equity sponsor on a US$750 million management buyout of Harbin Electric, a Nasdaq-listed, PRC-based developer and manufacturer of electric motors
  • Barclays Capital as financial adviser to the special committee of China Fire and Security Group, a PRC-based manufacturer of fire protection products, in connection with a US$265 million buyout of the company by Bain Capital
  • Zhuhai Yintong Energy, a PRC-based manufacturer of lithium-ion batteries, in connection with its acquisition of a controlling stake in Nasdaq-listed Altair Nanotechnologies, a manufacturer of advanced nanotechnology-based energy storage systems
  • Kerry Group in connection with its sale of its QGX Mongolian coal mine to Mongolian Mining Corporation (MMC) for variable consideration of up to US$950 million
  • Advanced Semiconductor Engineering (ASE), the world’s largest independent semiconductor packaging and testing company, in connection with its US$780 million going-private acquisition of the public shareholding of its Nasdaq-listed Singapore subsidiary ASE Test, as well as advising the special committee of ASE on a proposed US$5.6 billion going-private buyout by an investor consortium led by The Carlyle Group
  • Morgan Stanley as financial adviser to the special committee of STATS ChipPAC, a Nasdaq- and Singapore-listed semiconductor company, in connection with a US$1.5 billion going-private tender offer by Temasek, its major shareholder
  • Bangkok-based Charoen Pokphand Group (CP Group), one of the world’s largest agricultural conglomerates, on a US$175 million minority investment by a Carlyle Group-led consortium in CP Group's Hong Kong-listed PRC animal feed business
  • Morgan Stanley Infrastructure Partners on several private equity investments in India and China
  • Quadrangle Capital Partners on a US$300 million investment by a Quadrangle-led consortium of private equity investors in Tower Vision, the second-largest telecom tower management company in India
  • Shanda Interactive Entertainment Limited, a Nasdaq-listed interactive entertainment media company in China, in connection with its cash tender offer to acquire a controlling interest in Hurray!, a Nasdaq-listed music production and distribution company in China
  • The Federal Reserve Bank of New York in connection with its assistance provided to American International Group (AIG), including with respect to the US$20.5 billion initial public offering of its Asian life insurance subsidiary AIA
  • Guggenheim Global Infrastructure on its majority investment in King Tech International, a leading roadway pavement and asphalt-rubber business in China
  • BearingPoint on the sale to PricewaterhouseCoopers of its wholly owned China global development center under Section 363 of the U.S. Bankruptcy Code
  • Aozora Bank in connection with a merger of equals with Shinsei Bank; the entity established after the merger will be the sixth-largest banking group in Japan with total assets of US$190 billion as of March 31, 2009
  • Nikko Asset Management (Nikko AM) in connection with the sale of Nikko AM by Citigroup to Sumitomo Trust
  • Polo Ralph Lauren on its assumption of direct control over its Southeast Asian retail and distribution businesses from its licensee, Dickson Concepts International Limited
  • PCCW Limited, the leading provider of local and international telecommunications services on Hong Kong, in its US$250 million going-private acquisition of the businesses and assets of Nasdaq-listed SUNDAY Communications Limited, one of the largest providers of 2G and 3G wireless communications and data services in Hong Kong
  • Morgan Stanley Private Equity Asia on its Rs. 1.8 billion investment in Biotor Industries, an Indian manufacturer of castor oil and derivatives
  • Goldman Sachs on its investments in a series of private equity funds managed by HONY Capital
  • GE Commercial Finance on its investment in Credit Orienwise, a leading PRC financial services company, and CITIC Capital China Partners, a PRC-focused private equity fund
  • ICBC, the largest bank in China, on its strategic sale of a 10% stake for US$3.8 billion to Goldman Sachs, Allianz and American Express
  • CNOOC Limited on its US$18.5 billion attempted acquisition of Unocal
  • Credit Suisse on its formation of the China Renaissance private equity joint venture
  • Linktone, a Nasdaq-listed PRC wireless services company, in connection with its takeover by PT Media Nusantra Citra, an Indonesian telecommunications and media company
  • Profit Eagle on its acquisition of the minority public interest in Superdata Software
  • The Indian government in its US$2.5 billion sale of a 20% stake in Oil and Natural Gas Corporation, the largest Indian privatization in history
  • Ajinomoto on the sale of its 50% interest in a series of interlocking Asian joint ventures to Unilever
  • BancTec (a Welsh, Carson, Anderson & Stowe portfolio company) on the sale of its Japanese subsidiary to local management and JAFCO, a major Japanese buyout fund
  • Tata Group on its tender offer for VSNL, the major Indian international long-distance phone company
  • NCR on its strategic alliance with Fujitsu
Capital Markets Representations
  • The underwriters in various high-yield debt offerings by a number of Asian issuers, including True Move, a Thai mobile phone operator; Mandra Forestry, a PRC-based natural resources company and Galaxy Holdings, a Macau casino developer
  • Morgan Stanley as underwriter in the Nasdaq IPOs of 51job, Inc., a PRC recruitment services company, and Vimicro, a PRC-based fabless semiconductor company
  • Issuers and underwriters in various other capital markets transactions, including a US$1 billion equity offering and a US$1.2 billion bond offering by Bangkok Bank
Recognition

Mr. Lehmkuhler is recognized as a leading lawyer in:

  • Chambers Global: The World’s Leading Lawyers for Business and Chambers Asia
  • IFLR1000 - for M&A/Corporate work in China and Hong Kong, and Private Equity work in India
Professional History
  • Partner, 2008-present
  • Counsel, 2006-2008
  • Associate, 1995-2000; 2001-2006