Han Kun represented Meituan in its acquisition of 100% equity interests of www.kuxun.cn in both the offshore and onshore transactions
2015-08-24
On August 19, 2015, Meituan announced its buyout of www.kuxun.cn from the TripAdvisor, a U.S. public listed company. Meituan is China's largest third-party platform for life-service brands and retailers, connecting Chinese consumers to restaurants that provide dine-in and take-out service, movie theaters, hotels, traveling service providers and other life-service providers. Currently, there are nearly 130 million actively consumers purchase services through Meituan each year, and more than 1.6 million retailers signed up with Meituan as online service providers, covering 95% of the 2800 counties and districts in China. Meituan's total turnover for year 2015 is expected to hit RMB 100 billion.
Han Kun has represented Meituan in acquiring 100% equity interests of www.kuxun.cn in both the offshore and onshore transactions.
www.kuxun.cn is launched in 2006. It mainly provides real-time information with respect to air tickets, hotels, vacation plans and train tickets in the market with its powerful search engine. According to public information, www.kuxun.cn operates a network covering more than 200 cities in China, and has built up the largest database with respect to hotel information in China, which covers 80,000 hotels. Its database also contains information for more than 50,000 traveling destinations. According to Mr. Chen Liang, the senior vice president of the Depart of Hotel and Travel of Meituan, with the advantage of Kuxun's technology and its traveling database established with years's work, Meituan's data process capability in the travelling industry is expected to be enhanced.
The Han Kun team involved in this deal includes Dafei Chen, Zaiguang Lu, Meng Xiao and Xi Yan.
