A skilled corporate M&A lawyer with extensive domestic and international expertise, David helps clients navigate complex transactions and capitalize on opportunities that align with their business goals
David Choi is a partner in McCarthy Tétrault’s Business Law Group based in Toronto. A transactional lawyer with international experience, David advises clients on mergers and acquisitions, divestitures, joint ventures, partnership structures, corporate governance and financings across Canada, the U.S. and the Asia-Pacific region.
Known for his strategic, practical advice, client-centric service, and keen eye for risk management, David works closely with clients to provide tailored advice that meets their particular needs. He takes a hands-on approach in drafting and negotiating share purchase agreements, purchase and sale agreements, transition services agreements, exit agreements, subscription agreements, operating agreements, trademark license agreements, co-investment agreements, shareholders’ agreements, joint venture agreements and other key commercial documents and instruments.
Clients appreciate David’s unique understanding of the markets and industries in which they operate, particularly his knowledge and on-the-ground experience in Korea, and work on commercial transactions in the consumer electronics, biotech, energy, mining, manufacturing, retail, telecommunications, government, real property, and financial services sectors. David is skilled in leading and collaborating with multijurisdictional teams, and is a valued advisor for Korean companies looking to invest in Canada, and Canadian companies seeking Korean investors or partners. His global perspective on market factors that influence transaction outcomes allows him to anticipate and advocate for clients’ interests across borders.
David is co-author of Lexology ‘Getting the Deal Through’, Corporate Governance in Korea (2021 – 2023), and Chambers Global Practice Guides to Private Equity in Korea.
Select list of representative work:
- Counsel to Solus Advanced Materials (Portfolio Company of Skylake Equity Partners) on the spinout and subsequent sale of Solus Biotech (Korea’s No. 1 Ceramides supplier for cosmetics) to Croda International (a British specialty chemicals company).
- Counsel to Global Sae-a (a leading Korean textile trading and apparel OEM) on its acquisition of Ssangyong Engineering & Construction (projects include Marina Bay Sands Singapore, Royal Atlantis Dubai) from the Investment Corporation of Dubai.
- Counsel to Biogen (Global Pharma) on the sale of its 49% stake in Samsungbioepsis to Samsung BioLogics.
- Counsel to Samsung Asset Management on its preferred units financing and investment in Amplify ETF (20% minority stake).
- Counsel to AEON (Japan-based Multinational Retail Company) and Ministop Japan on the sale of its Ministop Korea business (5th largest convenience store chain in Korea comprising more than 5,000 convenience stores) to Lotte Corporation (operator of 7-11 convenience stores in Korea).
- Counsel to Solus Advanced Materials (Portfolio Company of Skylake Equity Partners) on the establishment of a North American copper foil manufacturing business and the acquisition of a copper foil manufacturing plant in Granby, Quebec, Canada.
- Counsel to Permira (Global PE Fund) on the establishment of a consortium with GS Retail (GS Group) and Affinity Equity Partners (a major APAC PE Fund) and the acquisition of Delivery Hero Korea (Yogiyo, a major Korean delivery service app platform).
- Counsel to Affirma Capital (Standard Chartered Private Equity) on the subscription of redeemable, convertible preferred shares (RCPS) of Metanet TPlatform (a major Korean cloud service provider) representing 20% of all issued shares of Metanet TPlatform.
- Counsel to E-Mart (Shinsegae Group) on the acquisition with GIC (a major Singapore sovereign fund) of a 50% interest in Starbucks Korea from Starbucks.
- Counsel to LG Electronics (LG Group) on the establishment of a global motor/PE joint venture with Magna International (3rd largest global automotive parts supplier).
- Counsel to Hyundai Heavy Industries Holdings (Hyundai Group) on the sale to Kohlberg Kravis Roberts & Co. L.P. of a 38% interest in Hyundai Global Service.
- Counsel to LINE Games Corporation (Naver Group) on the issuance of preferred stock to Tencent (a major PRC tech holding company).
- Counsel to SK Engineering & Construction (SK Group) on the purchase from Affirma Capital (Standard Chartered Private Equity) of EMC Holdings (Korea’s No. 1 Waste Management Firm).
- Counsel to Hyundai Marine Merchants (Hyundai Group) (one of the world’s largest marine carriers) on the establishment of a Singapore terminal joint venture with PSA International (one of the world’s largest global port operators).
- Counsel to SK Gas (SK Group) on its joint venture with ADVANCED Global Investments Co., a major petro-chemical producer in Saudi Arabia.
- Counsel to LG Household & Health Care (LG Group) on the purchase from GlaxoSmithKline Consumer Healthcare of the brand “Physiogel” and related assets in Asia and North America.
- Counsel to SKC Co., Ltd. (SK Group) on the purchase from Pantherine Holdings LLC (Kohlberg Kravis Roberts & Co. L.P.) of KCF Technologies Co., Ltd. (World's No. 1 Battery Copper Foil Maker).
- Counsel to Anbang Insurance Group on the sale to Woori Financial Group of Tongyang Asset Management and ABL Global Asset Management (formerly Allianz Global Asset Management Korea).
Key North American M&A Transactions
- Counsel to Partners Group (global PE) on the sale of Axia NetMedia to Bell Canada.
- Counsel to Dimension Data (global IT / cloud service provider; subsidiary of NTT) on the purchase of Millennium1 (a major North American BPO service provider) from The Gores Group (US PE).
- Counsel to Katz Group on the CAD 3 billion sale of Rexall Pharmacies to McKesson. (A 2016 Lexpert Top 10 Deal.)
- Counsel to Weatherford Canada on the sale of its Canadian oil producing and testing assets to Roska DBO.
- Counsel to Founders on the sale of Manning Diversified Forest Products Ltd. (a major Northern Alberta pulp mill and reforestation company) to West Fraser (a leading Canadian lumber producer).
- Counsel to Founders on the sale of Ever Green Ecological Services Inc. (a major Northern Alberta waste management company) to GFL Environmental Solid Waste Inc. (a leading Canadian waste management company).
Key North American Debt Financing Transactions
- Canadian counsel to ECP-PF Holdings Group, Inc. (Planet Fitness) on the refinancing of its term and delayed draw term loan facilities committed by a syndication of lenders comprised of U.S. mid-market capital funds.
- Counsel to the Edmonton Oilers (National Hockey League Franchise) on (1) the refinancing of its revolving credit facility committed by a syndication of lenders comprised of major Canadian Schedule I Chartered Banks (CAD 100 million), and (2) its cross-border league-wide credit facility committed by a syndication of major U.S. financial institutions (CAD 100 million).
- Counsel to Rexall Pharmacy (acquired by McKesson) on (1) the refinancing of its term, revolving term and swing line facilities committed by a syndication of lenders comprised of major Canadian Schedule I Chartered Banks (CAD 200 million, CAD 155 million and CAD 20 million, respectively, for an aggregate loan amount of CAD 375 million), and (2) its new revolving facility committed by a syndication of lenders comprised of major Canadian Schedule I Chartered Banks (CAD 140 million).
- Counsel to a major publicly listed REIT (TSX) on financings associated with its acquisition of a number of hotels in the Province of Saskatchewan.
David was admitted to the Alberta Bar in 2014 and the Saskatchewan Bar in 2013. He received his BA from the University of Calgary in 2009 and his JD from the University of Alberta in 2012.