21 April, 2016
Nasdaq-listed Jinpan International Ltd. announced on April 18, 2016 that it has consummated its previously announced going private transaction with the buyer consortium consisting of affiliates of Forebright Capital Management Ltd., a Hong Kong-based private equity firm and Mr. Zhiyuan Li, president and chief executive officer of Jinpan International. Pursuant to the terms of the going private transaction, all of Jinpan's outstanding shares previously not owned by the buyer consortium has been acquired by the buyer consortium, with the company valued at US$98.5 million. Following the closing, Jinpan International will delist from Nasdaq and become a privately held company.
Jinpan designs, manufactures and markets electrical control and distribution equipment used for industrial, utility and infrastructure projects. It has four production facilities in China and is one of the country’s largest manufacturers of cast resin transformers.
Skadden advised Forebright on the transaction. The deal team included partner Peter Huang, associate James Chang, and international legal consultants Min Lu and Alice Chunbei Li.
