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Zhong Lun Advised Shanda Entertainment on Sale of Equity in Hangzhou Bianfeng and Shanghai Haofang to Zhejiang Daily Media
Zhong Lun Advised Shanda Entertainment on Sale of Equity in Hangzhou Bianfeng and Shanghai Haofang to Zhejiang Daily Media
In April 2013, the transaction between Shanda Interactive Entertainment Limited (“Shanda Entertainment") and Zhejiang Daily Media Group Co., Ltd. (“Zhejiang Daily Media", Stock Code: 600633) for the transfer of Shanda Entertainment’s 100% shares in Hangzhou Bianfeng and Shanghai Haofang was officially closed. Zhong Lun Law Firm acted as the legal counsel for Shanda Entertainment.
A legal team led by Dr. Scott Guan and Ricky Luo from Zhong Lun’s Shanghai Office provided a full range legal services for this project, including advising on transaction structuring, reviewing and revising share purchase agreement and other related transaction documents, assisting in transaction negotiation, and providing legal advices in relation to PRC Securities Law and listing rules, etc. The total transfer price of the transaction amounts to about RMB 3.2 billion, which is one of the most important transactions in the Chinese internet and media industry in recent years.
