Kirkland & Ellis and Guantao Law Firm have advised China Mobile Games and Entertainment Group (CMGE) on its proposed $690 million merger with Pegasus Investment, represented by Wilson Sonsini Goodrich & Rosati and King & Wood Mallesons.
CMGE is the largest publisher and developer of mobile games in China. Pegasus Investment will be owned by affiliates of Orient Securities, Changjiang Securities and Beijing HT Capital Investment Management after the completion of the transaction.
The CEO of CMGE, Xiao Jian, this month has publicly expressed the firm’s intention to list in China’s A-share market. Once completed, the company will be delisted from NASDAQ and become a private company, following a stream of Chinese TMT companies privatised from the U.S. and seek to list back in China’s booming stock market.
The Kirkland team is led by corporate partners David Zhang, Jesse Sheley, Benjamin Su and Amie Tang. Guantao Law Firm served as PRC legal counsel, and Maples and Calder acted as Cayman Islands legal advisors.
Wilson Sonsini Goodrich & Rosati advised Pegasus as U.S. legal advisor, with King & Wood Mallesons and Conyers Dill & Pearman serving as PRC and Cayman Islands legal advisors respectively.
