Appleby Advised on Giant Interactive’s Take Private Deal

Appleby is pleased to announce its Hong Kong office has advised the mandated lead arrangers and financial advisors (MLAs) in relation to the US$3 billion privatisation of the New York-listed Chinese online gaming company Giant Interactive Group Inc. (Giant Interactive).

The MLAs included China Minsheng Banking Corp., Ltd., Hong Kong Branch; BNP Paribas Hong Kong Branch; Credit Suisse AG, Singapore Branch; Deutsche Bank AG, Singapore Branch; Goldman Sachs (Asia) L.L.C.; Goldman Sachs Lending Partners LLC; ICBC International Finance Limited; and JPMorgan Chase Bank, N.A.

The privatisation, by way of a merger in the Cayman Islands, will involve Giant Interactive merging with Giant Merger Limited, which is acting as the buying vehicle and is controlled by a consortium consisting of Giant Interactive’s chairman Shi Yuzhu, Baring Private Equity and Hony Capital. The merger is expected to close during the second half of 2014.

The Appleby team was led by Jeffrey Kirk, a Banking Partner in Appleby’s Hong Kong office, and assisted by Senior Associate Rupen Shah, while Linklaters Hong Kong acted as onshore counsel to the MLAs.  Appleby has previously advised on several Cayman mergers, including Shanda Interactive Entertainment’s privatisation from NASDAQ and the recent China Hydroelectric Corporation merger.

Giant Interactive is a leading online game developer and operator in China focusing on massively multiplayer online role playing games and currently operates games including the ZT Online 1 Series, ZT Online 2, Elsword, and World of Xianxia.

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