O’Melveny & Myers LLP represents Global Education & Technology Group Limited (Nasdaq: GEDU), a leading provider of language training, educational courses and test preparation services in China, in its proposed sale to Pearson plc (Pearson), a global media and education company headquartered in London.  The parties have entered into a definitive agreement and plan of merger pursuant to which Pearson (through a merger sub) would acquire all outstanding Global Education shares for a total value of approximately US$294 million.  The transaction remains subject to approval by Global Education’s shareholders and is expected to be completed in the fourth quarter of 2011.

 

The transaction, once completed, will be a landmark for China-based companies that have listed in the United States through a traditional underwritten IPO, a phenomenon that began over a decade ago with the US IPOs of well-known Chinese Internet and technology companies.  O’Melveny has represented Global Education since its first institutional round financing by SB Asia Investment Fund II L.P. (SAIF) in 2006 and also represented the company on its successful US IPO and Nasdaq listing in October 2010.

 

The O’Melveny team was led by partners David Roberts (Beijing) and Paul Scrivano (San Francisco and New York), counsel Nima Amini (Hong Kong) and Ally Zhu (Beijing), and associate Jiangshan Tang (Beijing).