Davis Polk and Sidley act on China search engine giant's $1.9bn app store purchase
Davis Polk & Wardwell and Sidley Austin have taken the lead roles on China search engine giant Baidu's $1.9bn (£1.2bn) buyout of app store 91 Wireless. Baidu is set to purchase the entire share capital of the Chinese app distributor as it seeks to boost its profile in the mobile internet market. Under the terms of the transaction, Baidu will buy a 57.41% stake in the company from parent and online game developer Netdragon and the remaining equity interest from other shareholders.
Davis Polk & Wardwell and Sidley Austin have taken the lead roles on China search engine giant Baidu’s $1.9bn (£1.2bn) buyout of app store 91 Wireless.
This premium content is reserved for
Legal Week Subscribers.
A PREMIUM SUBSCRIPTION PROVIDES:
- Trusted insight, news and analysis from the UK and across the globe
- Connections to senior business lawyers within the leading law firms and legal departments
- Optimized access on all of your devices: desktop, tablet and mobile
- Complete access to the site's full archive of more than 56,000 articles
Already have an account? Sign In Now