24 September, 2016
Shearman & Sterling advised the Special Committee of the Board of Directors of New York-listed E-Commerce China Dangdang Inc. (China Dangdang) in connection with its approximately US$556 million going-private transaction. The transaction is expected to close during the second half of 2016 and is subject to various closing conditions.
China Dangdang is a leading business-to-consumer e-commerce company in China. Through its website dangdang.com and mobile Dangdang, it offers books and media products, as well as selected general merchandise products including fashion and apparel, baby, children and maternity, and home and lifestyle products, among others. It also operates the dangdang.com marketplace program, which allows third-party merchants to sell their products alongside products sourced by China Dangdang.
The Shearman & Sterling team was led by partner Stephanie Tang (Hong Kong-Mergers & Acquisitions); with support from associates Kuinan Wei, Weina Guan (both Beijing-Mergers & Acquisitions) and Richard Ou (Hong Kong-Mergers & Acquisitions).
Other Shearman & Sterling lawyers involved in the transaction included partners Larry Crouch (Menlo Park-Tax) and Richard Hsu(Menlo Park-Intellectual Property Transactions); and associates Benjamin Petersen (Menlo Park-Intellectual Property Transactions), Nell Beekman (New York-Compensation, Governance & ERISA) and Ryan Bray (Menlo Park-Tax).
Legal Advisors Involved:
Special Committee: Shearman & Sterling LLP (U.S. legal counsel), and Maples and Calder ( Cayman Islands legal counsel).
Buyer Group: Skadden, Arps, Slate, Meagher & Flom (U.S. legal counsel), and Walkers (Cayman Islands legal counsel).
