Sidley, Zhong Lun, KWM on GOME’s alliances with PDD and JD.com
Sidley Austin has advised China electrical appliances retailer GOME's $100 million issuance of convertible bonds to be subscribed by JD.com, with Zhong Lun Law Firm acting for the buyer.
The bonds JD.com acquired are equivalent to about 2.8 percent of GOME’s existing issued shares in Hong Kong.
This is the second strategic alliance made by GOME with Chinese e-commerce heavyweights in about one month: in Mid-April, GOME went into alliance with Pinduoduo by issuing $200 million of convertible bonds, which were equivalent to about 5.62 percent of GOME’s existing issued shares.
In this previous deal, Sidley Austin represented GOME, with King & Wood Mallesons acting for Pinduoduo.
Sidley’s partner Raymond Oh led the GOME-JD deal, and partners Constance Choy and Raymond Oh led the GOME-Pinduoduo deal.
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