Han Kun advised Baidu on its acquisition of Nuomi
2013-08-26
On August 23, 2013, Baidu (Nasqad: BIDU), the leading Chinese language Internet search provider, and Renren (NYSE: RENN), a leading real-name social networking internet platform in China, jointly announced that they have entered into a definitive agreement, pursuant to which Baidu will acquire a certain number of newly issued ordinary shares of Nuomi, representing approximately 59% of the equity interest in Nuomi, for a purchase price of US$160 million in cash. Nuomi, a wholly-owned subsidiary of Renren, is a leading group-buying marketplace in China. The parties expect to close this acquisition in the fourth quarter of 2013.
Han Kun advised Baidu on this deal. Han Kun primarily assisted in legal due diligence, preparation of various transaction documents and participated in the negotiation process.
The leading lawyers involved in this deal are Charles Li, Loretta Li, Songsong Gao, Haoze Li and Rui Huang.