Orrick, Herrington & Sutcliffe and Han Kun Law Offices have represented China’s second-largest online retailer JD.com on its strategic partnership with Walmart, which was represented by its longstanding law firm Morrison & Foerster.
Walmart will take a nearly 5 percent stake in JD.com share, worth about $1.5 billion. In exchange, Walmart will give JD.com ownership of the Yihaodian marketplace, including the brand, website and app. Sam's Club China, which is owned by Walmart, will also open a flagship store on JD.com.
The Orrick team was led by Shanghai partner Jie (Jeffrey) Sun, Beijing partner Ning Zhang and Hong Kong partner Connie Cheung. Shanghai partner Yufeng (Ethan) Ma handled the IP issues in the transaction. The Han Kun team was led by partner Li Chaoying, while Chuck Comey, Chuan Sun, Mike Krigbaum, and Catherine Rong led the MoFo team.
The tie-up gives Wal-Mart access to JD.com’s nationwide logistics and warehousing networks, helping the U.S. firm expand its reach among China’s increasing tech-savvy middle class. For JD.com, the deal could provide a boost in its competition with its rival Alibaba, the biggest online retailer in China.
