DEALS
Zhong Lun Assists Insight in the Completion of First A2A Case
Zhong Lun Assists Insight in the Completion of First A2A Case
June 5, 2016, Xiamen Insight Investment Co., Ltd. (“Insight", SZSE:000526) announced that the Cayman Islands Registrar of Companies had issued the Certificate of Merger on June 4, 2016 Beijing time, which indicates the completion of the merger between Xueda Acquisition Limited, a Cayman subsidiary of Insight Investment and Xueda Education Group (“Xueda", NYSE:XUE). After this, Xueda Education will be delisted from the New York Stock Exchange (the “NYSE") and become a wholly-owned subsidiary of Insight, marking the achievement of the first A-share listed company’s acquisition of a Chinese Concept Stock with VIE structure by direct privatization. The purchasing price is $2.75 per share and approximately 2.35 billion RMB in total.
Xueda is a leading national provider of personalized tutoring services for primary and secondary school students in China. It was listed in NYSE on November 2, 2010 with the stock code “XUE". Under Xueda’s control by VIE structure, some entities like Beijing Xueda Information Technology Co., Ltd. serves as Xueda’s main operation platform.
Acting as Insight’s PRC legal counsel for the transaction, Zhong Lun Law Firm has provided a full range of legal services for Insight during a period of more than one year, including the overall deal structuring for the taking-private of a China-Concept NYSE listed Company purchased by an A-share listed company, the innovative De-VIE planning, handling complicated regulatory procedures and other material aspects of the transaction.
William Qiu and Johnson Zhu led the Zhong Lun team, with the support of Changyong Liu, Yuanyuan Tao, Haiyan Lai, Sarah Ma, Mona Hu and et al. In addition, James GUO and his team also provided great support on this transaction.
Professionals
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William QIU
Equity Partner
BeijingPractices： Private Equity & Investment Funds,Cross-border Investment/M&A,Chinese Mainland Capital MarketsIndustries： Telecommunications & Internet,Information & Intelligence Technology,Media-Sports & Entertainment,Pharmaceuticals & Life Sciences -
William QIU
Equity Partner
Beijing
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