20 November, 2020
Skadden advised Nasdaq-listed Baidu Inc., a leading Chinese search engine, knowledge and information centered Internet platform and AI company, on its acquisition of JOYY Inc.'s video-based entertainment live streaming business in China, which includes the YY mobile app, YY.com website and PC YY, among others, for an aggregate purchase price of US$ 3.6 billion in cash, subject to certain adjustments. The transaction is expected to close in the first half of 2021, subject to certain closing conditions.
The Skadden team was led by partners Julie Gao and Shu Du, with associates Layton Niu and Rebecca Le Yang. All attorneys are based in Hong Kong.
