David Norman
Partner
Hong Kong
David Norman
Partner
Hong Kong
Contact details
David’s practice is focused on complex cross-border transactions and strategic projects. He has extensive experience across the whole life cycle of private M&A transactions, including acquisitions, disposals and auction processes, joint ventures and investments. He regularly acts for corporates, private equity funds and major institutional investors on significant investments and strategic partnerships (including platforms) in Greater China and the wider APAC region. David also advises multinational clients on large-scale strategic reorganisations in APAC and private equity funds on portfolio company management, including new fund raisings and internal corporate matters.
David advises clients across a range of industries, but has a particular focus on the technology, financial services, consumer goods and real estate sectors. In recent years, he has also focused on helping clients build collaborations and partnerships involving digital ecosystems in Greater China and South-East Asia, with a particular focus on insuretech and fintech. In this regard, he has acted for both technology companies and other disrupters and for incumbents in establishing successful collaborations.
David's work has been recognised by leading international legal directories, such as Legal 500, where he is ranked as a Rising Star and recommended for cross-border joint ventures, M&A, and minority investments.
Other noteworthy experience includes advising:
- A Middle Eastern sovereign wealth fund on the creation of China’s largest logistics-focused real estate investment platform.
- China Resources and Belgium-based Verlinvest S.A. in connection with the acquisition of a majority stake in Oatly, a leading Sweden-based manufacturer of healthy oat-based F&B products, for a total consideration of approximately SEK1.3 billion.
- A global universal bank on the Asia Pacific aspects of its resolution planning, including the design and implementation of a service company model and consequent operational and corporate governance reorganisation.
- Credit Suisse on a series of own-account investments by the Entrepreneurs Investment Platform, the business unit responsible for Credit Suisse’s principal equity investments in private companies in APAC, including investments into Ant Group, Xpeng, Inc and Koubei.
- Indosuez Wealth Management, Credit Agricole group, on the acquisition of the CIC private banking business in Hong Kong and Singapore.
- A leading New York head-quartered multi-national corporation in the consumer goods sector on the reorganisation of its APAC supply and distribution arrangements and associated corporate governance changes.
- Emperador Inc, which is listed in the Philippines, a subsidiary of Alliance Global, and one of the largest Philippines conglomerates, on its acquisition of 100% of Whyte & Mackay Group and its subsidiaries from United Spirits, a company listed on the Bombay Stock Exchange, for an enterprise value of GBP430m.
- Manulife on a long-term strategic bancassurance partnership arrangement in Vietnam with TechComBank.
- D&J China, a Warburg Pincus fund on the sale of a majority interest in a real estate investment company to a PE fund.
Qualifications
Professional
Admitted as solicitor, England and Wales, 2008
Admitted as solicitor, Hong Kong, 2017
Academic
BA (Hons), English, St Hugh's College, Oxford University, 2001
Related articles
Publications: 01 June 2022
Virtual APAC Corporate Academy Session 1 - Trends in private M&A
Every year, analysts at Allen & Overy review M&A data collected by the firm over the previous 12 months of deals. The analysts look for trends, year-on-year changes and differences in practice across…
News: 17 February 2022
Experience highlights
A Middle Eastern sovereign wealth fund on a USD2.5bn joint venture to acquire and operate three five star hotels in Hong Kong, the most significant hospitality transaction in Hong Kong.
Discovery Limited, a leading global insuretech and wellness provider, on its global partnerships, including a pan-Eruopean partnership with Assicurazioni Generali S.p.A and partnership arrangements in Japan and the PRC.
A global financial institution on its landmark USD5.75bn voluntary tender offer for Bank Ayudhya PLC in Thailand, along with associated branch integration and shareholder arrangements.
Imperial Brands on the formation of an equity joint venture in Hong Kong between Imperial Brands and China National Tobacco Corporation for the production, distribution and sale of tobacco products in China and Europe.
Qualifications
Professional
Admitted as solicitor, England and Wales, 2008
Admitted as solicitor, Hong Kong, 2017
Academic
BA (Hons), English, St Hugh's College, Oxford University, 2001
Other noteworthy experience
Advising:
- A Middle Eastern sovereign wealth fund on the creation of China’s largest logistics-focused real estate investment platform.
- China Resources and Belgium-based Verlinvest S.A. in connection with the acquisition of a majority stake in Oatly, a leading Sweden-based manufacturer of healthy oat-based F&B products, for a total consideration of approximately SEK1.3 billion.
- A global universal bank on the Asia Pacific aspects of its resolution planning, including the design and implementation of a service company model and consequent operational and corporate governance reorganisation.
- A global financial institution on a series of own-account investments by the Entrepreneurs Investment Platform, the business unit responsible for its principal equity investments in private companies in APAC, including investments into Ant Group, Xpeng, Inc and Koubei.
- Indosuez Wealth Management, Credit Agricole group, on the acquisition of the CIC private banking business in Hong Kong and Singapore.
- A leading New York head-quartered multi-national corporation in the consumer goods sector on the reorganisation of its APAC supply and distribution arrangements and associated corporate governance changes.
- Emperador, which is listed in the Philippines, a subsidiary of Alliance Global, and one of the largest Philippines conglomerates, on its acquisition of 100% of Whyte & Mackay Group and its subsidiaries from United Spirits, a company listed on the Bombay Stock Exchange, for an enterprise value of GBP430m.
- Manulife on a long-term strategic bancassurance partnership arrangement in Vietnam with TechComBank.
- D&J China, a Warburg Pincus fund on the sale of a majority interest in a real estate investment company to a PE fund.
Pro-bono experience
- Advising a charitable organisation on the establishment of eye-care clinics in Congo, Africa
Recognition
Next Generation Partner
Legal 500, 2017-2020
Rising Star
Legal 500, 2021
