Skip to main content

Kirkland & Ellis is acting as U.S. legal counsel to a buyer group – Dream Investment Holdings and its subsidiary, Dream Merger Sub Limited – on its agreement to purchase iDreamSky Technology, China’s leading mobile game distributor.

Led by Michael Xiangyu Chen, iDreamSky’s CEO and chairman of the board, the consortium will acquire the NASDAQ-listed tech firm for a cash consideration worth $3.50 per Class A and Class B ordinary share or $14 per American depositary share, which values the company at about $620 million.

K&E’s team is headed by Hong Kong corporate partners David Zhang, Jesse Sheley and Amie Tang.  Walkers is serving as the consortium’s adviser in matters pertaining to Cayman Islands law. 

Shearman & Sterling is advising iDreamSky’s special committee, composed of independent directors of the company’s board, with a team led by Hong Kong partner Paul Strecker. He is being assisted by Menlo Park-based partners Larry Crouch and Richard Hsu.

Maples and Calder is advising the special committee on Cayman Islands law. Hogan Lovells is representing Duff & Phelps, the committee’s financial advisor.

The deal, which is expected to be completed in the second quarter of 2016, is subject to various closing conditions and shareholder approval.

Related Articles

方达、苏利文、贝克麦坚时助力中印26亿美元钢铁领域合资交易(ZH/EN)

中国民营钢铁公司中国东方集团宣布将与世界第二大钢铁公司、印度安赛乐米塔尔合作,共同在中国设立两家合营企业。方达律师事务所、美国苏利文·克伦威尔律师事务所作为中国东方集团的律师参与交易;贝克·麦坚时国际律师事务所为安赛乐米塔尔提供法律意见。

通商、汉坤、世达、瑞生助力文远知行成为全球Robotaxi第一股(ZH/EN)

中国自动驾驶科技公司文远知行成功在纳斯达克上市,结合此前已披露的3.2亿美元的私募配售,总募资金额达到4.585亿美元。

金杜、竞天公诚牵头地平线54亿港元香港IPO,三年来科技企业境外最大发行(ZH/EN)

10月24日,中国智能驾驶科技企业地平线在港交所成功上市,募资总额为54亿港元,成为2024年港股最大科技股IPO,也是三年来中国科技企业最大境外IPO。