DEALS
Zhong Lun Provides Legal Services for Acquisition of 56.com by Renren
Zhong Lun Provides Legal Services for Acquisition of 56.com by Renren
On September 27, 2011, Renren Inc. (NYSE: RENN) announced that it has entered into a definitive agreement to acquire 100% shares of 56.com. The consideration for this acquisition will be US$80 million in cash. The acquisition is expected to be completed in the fourth quarter of 2011. After the acquisition, 56.com will become the wholly owned subsidiary of Renen.
Founded in 2005, 56.com is a leading online video-sharing site where users can upload, view and share videos. It is also a leading user generated content (UGC) online video sharing site in China. Since its series A round financing, Anthony Zhao and Jane Fan from Zhong Lun Law Firm have provided legal services to 56.com and have also experienced complex restructuring and following several rounds of financing. Zhong Lun has always stood for the company with sufficient legal support during each of its milestone events and kept good business relationship with 56.com.
As the leading counsel of 56.com, Zhong Lun has participated and played the key role in tough negotiations with the counter party and communications with all shareholders during the transaction and has won great appreciations from all related parties with high quality and excellent legal services. The project team is led by Anthony Zhao and Jane Fan, partners of Zhong Lun Law Firm Shanghai office, and composed by Lingyun Dai and Danfeng Wu.
Professionals
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Anthony ZHAO
Equity Partner
ShanghaiPractices： Hong Kong & Overseas Capital Markets,Private Equity & Investment Funds,Cross-border Investment/M&AIndustries： Telecommunications & Internet,Information & Intelligence Technology,Healthcare,Pharmaceuticals & Life Sciences,Education & Training,Media-Sports & Entertainment,Banking & Financial Services,Financial Innovation & Fintech -
Anthony ZHAO
Equity Partner
Shanghai
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