Photo of Tracy Wut

Tracy Wut

Baker & McKenzie


Tracy Wut is experienced in mergers and acquisitions and foreign direct investments in China. She regularly acts for clients in complex cross-border transactions, in particular in the pharmaceuticals and healthcare sector, and navigates clients through various issues relating to investments in China. She has been recommended as a leading lawyer in Corporate/M&A by Chambers Global, Corporate/M&A and Life Sciences by Chambers Asia and M&A and private equity by IFLR1000. She is the co-head of the Pharmaceuticals and Healthcare Industry Group in China and Hong Kong.

Practice Focus

Tracy is knowledgeable in mergers and acquisitions, as well as a broad range of corporate and commercial matters relating to investment in China.

Representative Legal Matters

  • Advised Gaw Capital Partners and a consortium of institutional investors, including Schroder Pamfleet, on the HKD 9.845 billion acquisition of CityPlaza One office building from Swire Pacific and Swire Properties. This transaction was named “M&A Deal of the Year” in the ALB Hong Kong Law Awards 2021.

  • Acted for Cardinal Health in its acquisition of Zuellig Pharma’s China business.

  • Acted for Nycomed in its acquisition of a majority stake in Guangzhou Techpool Biopharma.

  • Acted for Itochu Corporation in its strategic investment in Citic International Assets Management Ltd.

  • Acted for Brown Shoe in the international aspects of its acquisition of American Sporting Goods.

  • Acted for OSRAM in the joint venture with Traxon Technologies, a leading global LED lighting provider.

  • Acted for Fortis Investments/ABN Amro in its sale of a 49 percent stake in a PRC fund management company.

  • Acted for Beiersdorf in the acquisition of C-BONS’ hair care business in China.

  • Acted for Calyon Financial Hong Kong Ltd. on its acquisition of a stake in CITIC Futures Co. Ltd.

Professional Honors

  • Leading Lawyer (Corporate/M&A: Hong Kong-based (International Firms), China/Hong Kong), Chambers Greater China Region, 2023 
  • Leading Lawyer (Corporate/M&A: Hong Kong), Legal 500 Asia Pacific, 2020-2023
  • Leading Lawyer (M&A, Hong Kong), IFLR1000, 2012-2022
  • Leading Lawyer (Private Equity, Hong Kong), IFLR1000, 2011 & 2015-2022
  • Leading Lawyer (Corporate/M&A: Hong Kong-based (International Firms), China/Hong Kong), Chambers Asia Pacific, 2009-2021 
  • Leading Lawyer (Corporate/M&A: Hong Kong-based (International Firms), China/Hong Kong), Chambers Global, 2010-2012, 2014-2020
  • Leading Lawyer (Corporate/M&A: High-end Capability: Hong Kong-based (International Firms), China/Hong Kong), Chambers Global, 2013
  • Leading Lawyer (Life Sciences (International Firms), China/Hong Kong), Chambers Asia Pacific, 2013-2019 
  • Recommended Lawyer (Life Sciences: corporate & commercial, China and Hong Kong), PLC Which Lawyer?, 2012

Professional Associations and Memberships

  • Law Society of Hong Kong


  • England & Wales (non-practicing) (1998)
  • Hong Kong (1997)


  • The University of Hong Kong (P.C.LL.) (1995)
  • The University of Hong Kong (LL.B.) (1994)


  • Cantonese
  • English
  • Mandarin