A team of Akin Gump Strauss Hauer & Feld LLP attorneys is advising CITIC PE in relation to the management buyout of AsiaInfo-Linkage by a consortium that would take the company private.
The Nasdaq-listed Chinese telecom software provider has accepted an offer to be acquired by a consortium led by CITIC Capital Partners valuing the company at $890 million.
The consortium, which includes CITIC PE, CITIC Capital Partners, company co-founder Edward Tian, China Broadband Capital Partners II, Temasek, AlpInvest Partners, InnoValue Capital and Qatar Holding, will pay $12 per share for all remaining stock in AsiaInfo-Linkage.
The transaction has been approved by the special committee of independent directors, but remains subject to approval by the company’s shareholders.
The buyout is financed in part by a $330 million debt facility provided by Bank of Taiwan, Cathay United Bank, ICBC International Capital, Maybank Investment Bank and Nomura International.
The Akin Gump team advising CITIC PE is led by Hong Kong corporate partner Greg Puff, supported by partner Zach Wittenberg. This transaction is one of more than 10 take-private transactions involving U.S.-listed Chinese companies on which Akin Gump has advised since February 2012.
