Akin Gump Advising Financial Advisor to Ku6 Media in Going-Private Transaction
(Hong Kong) – Akin Gump is advising Duff & Phelps Securities, LLC, financial advisor to the special committee of the board of directors of Ku6 Media Ltd., in the Chinese gaming company’s definitive merger agreement with Shanda Investment Holdings Limited and Ku6 Acquisition Company Limited, a wholly owned subsidiary of Shanda Investment Holdings, to take the company private.
Shanda Investment Holdings will acquire Ku6 Media for a cash consideration equal to US$0.0108 per ordinary share or US$1.08 per American depositary share, giving a total valuation of US$52.4 million.
Ku6 Media, a leading Internet video company in China focused on user-generated-content, will continue as a surviving company and become a wholly owned unit of Shanda Investment Holdings.
The going-private transaction is currently expected to close during the second half of 2016 and is subject to customary closing conditions.
Gregory Puff, a corporate partner in Akin Gump’s Hong Kong office, is leading the team advising Duff & Phelps, supported by counsel Michelle Chan.
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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