On September 22, Paul, Weiss clients Silver Lake, Temasek Holdings, and a Hong Kong-based investment group announced a commitment to invest in Alibaba Group. Alibaba Group operates Alibaba.com and Taobao.com, China’s leading online business marketplace and consumer shopping websites. The other major investor is DST Global, a leading international investor in Internet-related companies. The investment will be conducted by way of a tender offer to employee shareholders and certain other shareholders, and is part of a $1.6 billion transaction. The transaction is expected to close at the end of October.
The Paul, Weiss team advising on the transaction included corporate partner Jeanette K. Chan and counsel Corinna Yu; securities partner Tong Yu; tax partner Brad R. Okun; intellectual property partner Charles H. Googe; and litigation partner Robyn F. Tarnofsky.
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