Xi Shi
Advises corporate and private equity clients on a wide range of mergers and acquisitions matters. Named “Rising Star of the Year” at IFLR Asia-Pacific Awards.
Xi is a counsel in our Corporate practice, currently practicing as a Registered Foreign Lawyer in Hong Kong. He advises corporate and private equity clients on a wide range of M&A matters, including acquisitions, divestitures, buyouts, mergers, going-private transactions, PIPEs and venture and growth capital investments.
Recognized as a “Rising Star of the Year” at the IFLR Asia-Pacific awards in 2021, Xi has extensive experience advising on transactions in and out of Mainland China as well as other Asia-Pacific jurisdictions, including Hong Kong, India, Indonesia, Korea, Malaysia, the Philippines, Singapore, Taiwan and Vietnam.
Experience highlights
Xi’s recent representations include:
- Tencent on various matters, including:
- going-private transaction of 58.com
- PIPE investment in Pinduoduo
- convertible notes investment with Dragoneer in Farfetch
- strategic investment in JD.com and renewal of their existing strategic cooperation agreement
- Tencent and Tencent Music Entertainment’s investments in Spotify, and the cross-shareholding by Spotify in Tencent Music Entertainment
- investments in Academia.edu, Jeeves, Kuaikan Comics, NorthOne, Tuhu Car, Wumei Technology and Ziroom
- A leading Asia-based private equity firm on its investment in a blockchain infrastructure platform
- A leading Asia-based private equity sponsor on the acquisition of a premium consumer business
- EF Education First on the majority investment by Permira in EF Kids & Teens business
- A global financial institution on the sale of its trustee and fund services business in Hong Kong to an international banking group
- Naver Financial on its participation in TBCASoft’s Series B financing round as lead investor
- China Resources on its investment in Oatly Group along with Verlinvest
- Cornell Capital on its investment in Lorom
- China Yongda Automobiles Services on its acquisition of Inchcape’s China retail business
- GOJEK on:
- investments by Facebook, PayPal, Google, Tencent and other investors focused on supporting GoPay
- Series F funding round led by Google, JD.com and Tencent
- Tencent Music Entertainment on multiple M&A and financing transactions over the years, including:
- multiple equity financing rounds with financial and strategic investors (including Sony Music and Warner Music)
- acquisitions of United Entertainment Corporation and Ultimate Music
His representations before joining Davis Polk include:
- China Music Corporation’s issuance of a majority of shares to Tencent and rebranding to Tencent Music Entertainment
- JD.com on the restructuring of control of JD Finance
- Didi Kuaidi on its acquisition of Uber China
- Advantech Capital and C-Bridge Capital as private equity sponsors in the proposed going-private transaction involving Sinovac Biotech
- Buyer group led by BTG Hotels in the going-private transaction involving Homeinns Hotel and the subsequent cross-border share exchange
- Buyer groups in the going-private transactions involving U.S.-listed companies E-Commerce China Dangdang, Country Style Cooking, and E-House (China)
- Ctrip on its convertible notes investment in MakeMyTrip
Insights
Credentials
Recognition
IFLR Asia-Pacific Awards – “International Firm: Rising Star of the Year,” 2021
Education
- Harlan Fiske Stone Scholar
- James Kent Scholar
- Articles Editor, Columbia Law Review
Professional history
- Counsel - Registered Foreign Lawyer, 2020-present
- Registered Foreign Lawyer, Davis Polk, 2017-2020
- Skadden, Arps, Slate, Meagher & Flom, Hong Kong, 2014-2017
- Sullivan & Cromwell, New York, 2013-2014
Qualifications and admissions
- Hong Kong Law Society - Registered
- State of New York