Alec P. Tracy
Corporate Finance and Mergers and Acquisitions
Alec P. Tracy is a partner based in Hong Kong, where his principal focus is on cross-border mergers and acquisitions, corporate finance transactions and other general corporate matters. Mr. Tracy represents companies, investment banks, financial sponsors and governmental entities. He joined Skadden, Arps in 1995 and has worked in the firm’s New York, Hong Kong and Singapore offices. He is listed as a leading lawyer in several publications, including IFLR, Who’s Who Legal - Capital Markets, Chambers Global: The World’s Leading Lawyers for Business and Chambers Asia-Pacific.
Mergers and Acquisitions — Mr. Tracy has broad experience in cross-border mergers, acquisitions and investment transactions. Representations include advising GigaMedia Ltd. in selling a 60 percent interest in its Everest Poker online gaming business to Mangas Gaming for US$100 million; Titan Petrochemicals in its US$175 million investment by Warburg Pincus through which Warburg Pincus acquired a 22 percent stake in Titan Petrochemicals and a 49.9 percent stake in Titan’s oil storage business; Menlo Worldwide LLC in its acquisitions of Asia-based Cougar Holdings and Chic Logistics; CEMEX in its US$330 million sale of a 25 percent interest in PT Semen Gresik (Persero) Tbk. to Indonesia’s Rajawali Group; NTT Communications in its US$445 million sale of a 7.4 percent stake in PLDT to its affiliate NTT DOCOMO; PT Telkom in several major transactions worth more than US$1.5 billion, including its acquisition of Telkomsel and sale of Satelindo, and on Telkom’s restructuring of several of its joint operating schemes (KSOs); and The Indonesian Bank Restructuring Agency in the sale of a 51 percent interest in PT. Bank Central Asia to Farallon Capital Management, LLC for US$565 million.
Securities Offerings: U.S.-Registered Offerings — Mr. Tracy regularly advises issuers, investors, underwriters and placement agents on a broad range of offerings of equity and debt securities. Among others, Mr. Tracy has advised on the following IPOs: China Netcom Group Corporation; the dual NYSE and HKSE listing of Semiconductor Manufacturing International Corporation; the dual NYSE and HKSE listing of China Life Insurance Company; and the US$431 million U.S.-registered global secondary equity offering by SK Telecom Co., Ltd.
Hong Kong Initial Public Offerings and Listings by Introduction — Mr. Tracy has also played a major role in a number of recent IPOs and listings on the Hong Kong Stock Exchange, in which Skadden, Arps has acted as both U.S. and Hong Kong counsel. Completed transactions include, the US$580 million IPO Sunshine Oilsands Ltd. (as U.S. counsel); the US$58 million IPO of China First Chemical Holdings Ltd.; the secondary listing by introduction of ordinary shares of Kazakhmys plc; the US$225 million IPO of Newton Resources Ltd.; the US$229 million IPO of Leoch International Technology Ltd.; the US$265 million IPO of CITIC Dameng Holdings Ltd.; the US$747 million IPO of Mongolian Mining Corporation; the US$400 million global IPO of SITC International Holdings Company Ltd.; the US$106 million IPO of China ITS (Holdings) Co., Ltd.; the US$211 million IPO of NVC Lighting Holding Ltd.; the US$438 million listing of Toronto-listed coal miner, SouthGobi Energy Resources Ltd.; the US$1.87 billion IPO of Wynn Macau; the US$5.9 billion IPO and the dual listing in Hong Kong and Shanghai of China CITIC Bank.
Other Equity Transactions — Mr. Tracy also has advised issuers and underwriters on a range of other equity transactions including: PT Jasa Marga (Persero) Tbk. in its partial privatization via an approximately US$371 million initial public offering of shares and listing on the Jakarta Stock Exchange; BTG Pactual SA in its cornerstone investment in the US$1.7 billion IPO and listing on the Hong Kong Stock Exchange of Citic Securities Co.; an investor in the consortium led by Royal Bank of Scotland Group plc in the US$3.1 billion pre-IPO acquisition of a 10 percent stake in Bank of China; and the Kuwait Investment Authority in its US$719 million cornerstone investment in connection with the Industrial and Commercial Bank of China’s US$21.2 billion privatization.
Debt and Debt Restructuring — Mr. Tracy has advised underwriters and issuers on a number of high-yield and convertible debt transactions, including the following high-yield offerings: Zoomlion H.K. SPV Co., Ltd.; China Liansu Group Holdings Ltd.; Country Garden Holdings; Hidili Industry International Development; Pacnet Limited; GiTi Tire Pte. Ltd.; Titan Petrochemicals; and China Properties Group Ltd.
Mr. Tracy also has advised on a number of offerings of pre-IPO and post-IPO convertible and exchangeable securities, including SK Telecom Co., Ltd. in the offering of US$1.25 billion principal amount of bonds guaranteed by SK Corporation and exchangeable into equity of SK Telecom. Mr. Tracy also advises investors in pre-IPO investments in corporations which plan to list. Mr. Tracy regularly advises issuers and investment banks on debt tender and exchange offers and consent solicitations including: the dealer manager in connection with an exchange offer and consent solicitation relating to outstanding high-yield bonds issued by Davomas International Finance Company Pte Ltd. and guaranteed by PT Davomas Abadi Tbk; Titan Petrochemicals in its successful offer to exchange its 8.5% guaranteed senior notes due 2012 for a combination of new convertible notes due 2015, payment-in-kind (PIK) notes due 2015 and cash; and the offer by Country Garden Holdings to the holders of its RMB4.3 billion U.S. dollar settled 2.5% convertible bonds due 2013.
Mr. Tracy also works with Asian companies in connection with joint ventures and strategic investments.
J.D., New York University School of Law, 1994 (magna cum laude; Order of the Coif; Articles Editor, New York University Law Review)
B.A., Princeton University, 1989 (cum laude)