Skip to main content

Davis Polk & Wardwell, Skadden, Arps, Slate, Meagher & Flom and Commerce & Finance Law Offices have advised Chinese Internet search giant Baidu on the sale of a third of its Nasdaq-listed shares in travel service website Ctrip for about $1 billion. Jingtian & Gongcheng and Latham & Watkins have advised the underwriters.

Baidu will remain the largest shareholder in Ctrip after the sale. According to Reuters, Baidu has lost more than a third of its market value this year and is pulling away from businesses like Ctrip to focus on building its own content ecosystem. It recently invested in science forum Guoke, and Zhihu, China’s answer to Quora.

The Davis Polk team included Beijing partner Howard Zhang and Hong Kong partner Li He. The Skadden team was led by partners Julie Gao and Haiping Li, and the Commerce & Finance team was led by partner Cui Kangkang.

 

To contact the editorial team, please email ALBEditor@thomsonreuters.com. 

Related Articles

Deals

Khaitan, JSA, Hogan Lovells guide $515 mln Waaree IPO

by Nimitt Dixit |

Khaitan & Co has advised Waaree Energies, India's largest manufacturer and exporter of solar modules, on its $515 million initial public offering, with JSA Advocates & Solicitors and Hogan Lovells guiding the bookrunning lead managers.

Deals

CAM, Khaitan guide Adani-backed Renew Exim’s $380 mln ITD acquisition

by Nimitt Dixit |

Cyril Amarchand Mangaldas has advised Adani Group's Dubai-based firm Renew Exim DMCC on its acquisition of a 46.64 percent stake in ITD Cementation India for around $380 million from Italian-Thai Development Public Company, who was represented by Khaitan & Co.

Deals

CAM, AZB, SAM, Latham advise on landmark $1.3 bln Swiggy IPO

by Nimitt Dixit |

Cyril Amarchand Mangaldas is advising SoftBank-backed Indian food and grocery delivery giant Swiggy on its much-anticipated initial public offering worth $1.3 billion, with AZB & Partners and Latham & Watkins advising the bookrunning lead managers.