Shearman & Sterling is representing Credit Suisse Securities (USA) LLC, financial advisor to the board of directors of Sohu.com Inc. (“Sohu,” NASDAQ: SOHU), in the US$448 million acquisition of a 36.5% interest in Sogou Inc. (“Sogou”) by Tencent Holdings Limited (“Tencent,” SEHK: 00700).
Sohu provides online media, search, gaming, community and mobile services to millions of users in China. Sohu has built one of the most comprehensive matrices of Chinese language web properties and proprietary search engines, including the mass portal and leading online media destination www.sohu.com and interactive search engine www.sogou.com, among others. Started in 2004, Sogou is a subsidiary of Sohu and is one of the leading Chinese character input software, web browser and search engine operators in China. Sogou mainly engages in the development and operation of a suite of market-leading internet applications in China.
Tencent, founded in Shenzhen in 1998 and listed on the Hong Kong Stock Exchange in 2004, is principally engaged in the provision of Internet, communication, information and mobile value-added services and online advertising services to users in the PRC.
The Shearman & Sterling team comprises mergers & acquisitions partner Paul Strecker in Hong Kong, counsel Shirin Tang and associate Ning Liu.
