12 December, 2015
Tencent Holdings Limited, a leading provider of Internet services in China, together with Huayi Brothers and other investors, have entered into agreements to subscribe for new shares of Hong Kong-listed China Jiuhao Health Industry Corporation Limited representing an aggregate 50.65% interest for approximately HK$547 million (US$69 million). The deal was announced on December 10, 2015.
Tencent, who together with Huayi Brothers, a leading Chinese film production company, will become the new controlling shareholder group, will use the listed platform to invest in, develop and operate new offline and online cultural and media businesses.
Skadden is acting for Tencent. The Skadden team included partners Gregory Miao, Christopher Betts, and associates Anthony Pang, Peter Pang, Yuting Wu, Flora Lu, and Xing Lin.
