(Photo: Jing wei/AP)

Skadden, Arps, Slate, Meagher & Flom and Kirkland & Ellis are advising on the privatization of Chinese travel site Qunar Cayman Islands, which is valued at $4.4 billion.

Guangzhou-based buyer Ocean Management Holdings will acquire all the outstanding shares of Nasdaq-listed Qunar at $10.13 apiece. Ocean Management is owned by a private equity fund controlled by Alex Zheng, co-founder of Chinese budget hotel chain 7 Days Group Holdings.

The take-private deal, expected to close in the first half of 2017, follows Qunar’s $3.4 billion share-swap combination with longtime rival Ctrip.com International late last year. Following that deal, Ctrip and Baidu Inc, Qunar’s former owner, controlled about 70 percent in Qunar. 

Both Qunar and Ctrip operate websites that sell travel packages that include airfare and accommodation. Combined, the two companies control about 80 percent market share in China. 

Ocean Management is represented by Skadden Hong Kong partners Julie Gao and Haiping Li. 

Kirkland Hong Kong partners David Zhang, Jesse Sheley and Xiaoxi Lin are advising a special committee at Qunar.

Skadden and Kirkland have advised on several deals involving previously U.S.-listed Chinese companies in the travel and hospitality sector.

Both Skadden’s Gao and Li advised Ctrip on the share-swap deal with Qunar in 2015. Skadden also represented an investor consortium led by the Carlyle Group on a 2013 privatization of 7 Days and a $1.3 billion exit of investment last year.

Qunar’s privatization also follows that of eLong, Inc., a mobile-based online travel booking service provider under Ctrip, earlier this year. Kirkland’s Zhang and Sheley also acted for a special committee at eLong. 

Skadden, Arps, Slate, Meagher & Flom and Kirkland & Ellis are advising on the privatization of Chinese travel site Qunar Cayman Islands, which is valued at $4.4 billion.

Guangzhou-based buyer Ocean Management Holdings will acquire all the outstanding shares of Nasdaq-listed Qunar at $10.13 apiece. Ocean Management is owned by a private equity fund controlled by Alex Zheng, co-founder of Chinese budget hotel chain 7 Days Group Holdings.

The take-private deal, expected to close in the first half of 2017, follows Qunar’s $3.4 billion share-swap combination with longtime rival Ctrip.com International late last year. Following that deal, Ctrip and Baidu Inc, Qunar’s former owner, controlled about 70 percent in Qunar. 

Both Qunar and Ctrip operate websites that sell travel packages that include airfare and accommodation. Combined, the two companies control about 80 percent market share in China. 

Ocean Management is represented by Skadden Hong Kong partners Julie Gao and Haiping Li. 

Kirkland Hong Kong partners David Zhang, Jesse Sheley and Xiaoxi Lin are advising a special committee at Qunar.

Skadden and Kirkland have advised on several deals involving previously U.S.-listed Chinese companies in the travel and hospitality sector.

Both Skadden’s Gao and Li advised Ctrip on the share-swap deal with Qunar in 2015. Skadden also represented an investor consortium led by the Carlyle Group on a 2013 privatization of 7 Days and a $1.3 billion exit of investment last year.

Qunar’s privatization also follows that of eLong, Inc., a mobile-based online travel booking service provider under Ctrip, earlier this year. Kirkland’s Zhang and Sheley also acted for a special committee at eLong.