4 February, 2016
NYSE-listed China Ming Yang Wind Power Group Limited (NYSE: MY) announced on February 3, 2016 that it had entered into an agreement and plan of merger (the "Merger Agreement") with a buyer consortium consisting of Mr. Chuanwei Zhang, the chairman and chief executive officer of Ming Yang, two other equity sponsors, and certain management and other existing shareholders of Ming Yang. The purchase price will be funded in part by debt financing provided by China Construction Bank Guangdong Branch. Subject to the terms and conditions of the Merger Agreement, all of Ming Yang's outstanding shares currently not owned by the buyer consortium will be acquired by the buyer consortium, with the company valued at approximately US$408 million. Following the closing of the merger, Ming Yang will delist from NYSE and become a privately held company. Ming Yang is a leading wind energy solution provider in China.
Skadden advised the special committee of Ming Yang's board of directors, who independently evaluated the going private proposal with the aid of Skadden and Duff & Phelps, its independent financial advisor. Skadden's deal team included partner Peter Huang, associates James Chang and Peter Qiu and international legal consultant Alice Chunbei Li.
