Shanda Games Limited Completes $1.9 Billion Going-Private Transaction
On November 19, 2015, Shanda Games Limited, a leading online game developer, operator, and publisher in China, announced that it has completed its merger with Capitalcorp Limited, a special-purpose vehicle controlled by a buyer group consisting of Ningxia Zhongyin Cashmere International Group Co., Ltd., a shareholder of the company; Mr. Yingfeng Zhang, the acting CEO of the company; and two other shareholders of the company. As a result of the merger, the buyer group acquired the company in a cash transaction valuing the company at approximately $1.9 billion. Wilson Sonsini Goodrich & Rosati represented the buyer group in the transaction.
The WSGR team that represented the buyer group was led by partner Zhan Chen and included partners Weiheng Chen and David Berger; associates Jing Xu, Ke Li, and Vincent Zhou; and legal assistants Yuwen Hua and Dong Huang.
For more information, please see the press release regarding the transaction.