Davis Polk is advising Baidu, Inc. in connection with its US$306 million majority investment in Qunar. The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2011.
Baidu is the leading Chinese-language Internet search provider. Baidu’s ADSs currently trade on the NASDAQ Global Select Market.
Qunar is the leading travel search engine in China. Qunar offers real-time searches on flights, hotels and packages, and group-buying deals and other travel information to consumers, and Internet and mobile technology solutions to travel industry players.
The Davis Polk corporate team includes partners Howard Zhang and Kirtee Kapoor and associate Sam Kelso. Partner John D. Paton and associate Alon Gurfinkel are providing tax advice. Counsel Cynthia Akard is providing employee benefits advice. Partner Frank J. Azzopardi and associate Randy Samson are providing intellectual property advice. Members of the Davis Polk team are based in the Beijing, Hong Kong, London, Menlo Park and New York offices.
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