Zhong Lun Advises on Financing Pactera’s Going Private Transaction
Zhong Lun Advises on Financing Pactera’s Going Private Transaction
On October 17, 2013, Pactera Technology International Ltd. (Nasdaq: PACT), a global consulting and technology services provider headquartered in China, announced the signing of a definitive merger agreement with a consortium led by Blackstone in connection with its going-private transaction. Upon the consummation of this transaction, Pactera will be beneficially owned by Blackstone, certain members of Pactera’s management and GGV Capital.
This transaction values Pactera at more than US$660 million, and Bank of America Merrill Lynch, Citigroup and HSBC have agreed as mandated lead arrangers to provide committed debt financing for this transaction. Zhong Lun has acted as the PRC counsel for the mandated lead arrangers in this transaction. The legal team from Zhong Lun is led by partner lawyers Anthony Zhao and Shirley Lu, and includes William Jia, John Shen, Will Lu, Janvier Yang and Jimmy Chen.