Akin Gump Advises IDG on Sale to China Oceanwide
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(Washington, D.C.) – Akin Gump advised International Data Group, Inc. (IDG) on its sale to China Oceanwide Holdings Group Co., Ltd. The closing of the transaction was announced on March 29, 2017. Upon closing, China Oceanwide became the controlling shareholder, with 90 percent ownership share, of IDG’s operating businesses, including International Data Corporation and IDG Communications, with the remaining 10 percent held by IDG Capital, and a minority shareholder in IDG’s venture business, IDG Ventures. The transactions had previously received clearance from the Committee on Foreign Investment in the United States (CFIUS).
Akin Gump international trade counsel Christian Davis and associates Jung Hwa Song and Dallas Woodrum advised IDG in obtaining CFIUS clearance. Government contracts partner Scott Heimberg and counsel Joe Whitehead counseled IDG in relation to government contract issues involved in the transaction.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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