Michael J. Preston is a partner based in the Hong Kong office.
Mr. Preston has a broad commercial practice focusing on mergers and acquisitions and private equity (cross-border and domestic). He has experience across a range of business sectors, with particular experience in emerging markets, energy and commodities. Mr. Preston also has experience advising on joint ventures, acquisition finance and capital markets transactions.
Recent experience includes:
- Represented TPG in its equity investment in China International Capital Corporation, the first foreign private equity investment in a Chinese securities firm; its investment in PT Delta Dunia Makmur, an Indonesian mining services company; its acquisition of a majority stake in Indonesia’s PT Bank Tabungan Pensiunan Nasional and in the bank’s subsequent rights offering; its acquisition of 35% of Lenta Ltd., a leading Russian food retailer/hypermarket; and its acquisition of approximately 45% of BFI Finance Indonesia, an Indonesia-listed consumer lender; and counsel to Northstar Equity Partners III in its acquisition of approximately 20% of PT Multistrada Arahsarana Tbk ("MASA"), an Indonesia-listed tire manufacturer.
- Represented Helios Investment Partners in its Sh11 billion acquisition of a 24.99% stake in Equity Bank Ltd in Kenya, and in its acquisition of a 22% stake in a joint venture vehicle established by Portugal Telecom to hold all of its telecommunications assets and interests in sub-Saharan Africa valued at $1.2 billion; represented Alnair Capital Holdings JSC in the acquisition of an approximately 25% stake in JSC Kazkommertsbank and assistance with ongoing management of the stake and negotiations regarding recapitalization and infusion of cash; and represented Tele2 in its acquisition of a 51% interest in Kazakhstan’s MTS, a mobile telecommunications company.
- Represented China’s Sichuan Hongda Group in its $3 billion joint venture with Tanzania’s National Development Corporation to implement an integrated mining, power production and steel-making project in Tanzania; Korea’s SK Networks in its $700 million equity investment in Brazil-based MMX Mineração e Metálicos; African Minerals in a $1.5 billion investment by Shandong Iron & Steel Group; EuroSibEnergo in its joint venture with China Yangtze Power for the development of hydro and thermal power projects in the Russian Far East; the founders of KazakhGold Group in the sale of a controlling stake in the company; TNK-BP in the sale of its oilfield services business to NYSE-listed Weatherford International Ltd; and Mittal Investments in the acquisition of an interest in Ophir Energy plc, an oil & gas exploration company, and in its participation in Algeria’s second oil & gas licensing round.
Mr. Preston is recognized as a leading corporate/M&A lawyer for China by Chambers Asia
and was named a “Star Partner” in The Lawyer
’s 2011 Transatlantic Elite review of Energy and Resource lawyers. In 2012, he was recognized as a "rising star" in energy law by Law360
Mr. Preston joined the firm in 2004 and became a partner in 2011. From 2004 to 2010, he was resident in the London office. Previously he was an associate at Allen & Overy LLP in London and at Russell McVeagh in Wellington, New Zealand.
Mr. Preston is a Solicitor of the Senior Courts of England and Wales, a solicitor of the High Court of Hong Kong, and is admitted to the Bar in New Zealand. His native language is English, and he has conversational German language skills.