The Firm recently represented Bona Film Group Limited (NASDAQ: BONA) and its chairman, Mr. Dong Yu, in connection with Mr. Yu’s sale of a 19.9% strategic equity stake to News Corporation (NASDAQ: NWSA). News Corporation will acquire the stake directly from Mr. Yu. Mr. Yu has also entered into separate agreements to acquire existing 1,000,000 Bona ordinary shares from SIG China Investments One, Ltd., 1,000,000 Bona ordinary shares from Matrix Partners China Funds and 1,500,000 Bona ordinary shares from the Sequoia Funds.
Bona is a leading film distributor in China, with an integrated business model encompassing film distribution, film production, film exhibition and talent representation. Bona distributes films to Greater China, Korea, Southeast Asia, the United States and Europe, invests and produces movies in a variety of genres, owns and operates 13 movie theaters and manages a range of talented and popular Chinese artists.
The Simpson Thacher team for this transaction included Chris Lin, Spencer Yee and Richard Lin (M&A), Daniel Fertig and Sara Schuman (Capital Markets), Sinead O’Shea (Credit), and Robert Holo and Adam Wells (Tax).
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