DEALS
Zhong Lun Advises Thai Businessman to Acquire Fortune Magazine
Zhong Lun Advises Thai Businessman to Acquire Fortune Magazine
On 9 November 2018, Meredith Corporation announced an agreement to sell the Fortune Magazine to Thai Businessman Mr. Chatchaval Jiaravanon for US$ 150 million.
Mr. Jiaravanon serves as a Board Member of the Charoen Pokphand Group of Thailand, an international conglomerate with businesses in telecom and media; agro-food; retail and distribution; e-commerce and digital; property development; automotive and industrials; finance and investment; and pharmaceutical sectors. Mr. Jiaravanon will own Fortune as a personal investment independent of the Charoen Pokphand Group. He said he would strengthen the digital capability of Fortune and commit further investment in Fortune for geographic expansion and brilliant journalism.
Fortune is a magazine dedicated to researches and articles on economics. It is well known for publishing the Fortune 500 list, which attracts global attentions and has profound impacts on the economic society. Fortune also hosts a series of high-profile economic and finance forums, such as the well-known “Fortune Global Forum", and the Global 500 Annual Meeting is one of these forums.
In this transaction, Zhong Lun acts as the project manager and PRC legal counsel to the buyer, coordinating and working closely with the foreign legal counsel and finance advisors to provide the legal, financial, tax and commercial advice and services to ensure the successful signing of the transaction documents. Zhong Lun team is led by partners John Sheng and Yilin Huang and assisted by associates Holly Zheng, Kitty Chen and Tom Dong.
