On December 28, 2020, TAL Education Group, a leading K-12 after-school tutoring services provider in China, announced that a group of investors has agreed to invest an aggregate of $3.3 billion in TAL through private placement, of which $2.3 billion is in convertible notes and $1 billion is in newly issued Class A common shares of TAL. Wilson Sonsini Goodrich & Rosati has represented the convertible notes investors led by Silver Lake, a global leader in technology investing.

As China’s leading EdTech platform, TAL offers comprehensive tutoring services to students from preschool to the twelfth grade through three flexible class formats: small classes, personalized premium services, and online courses. Its tutoring services cover the core academic subjects in China's school curriculum as well as competence-oriented programs. TAL's learning center network currently covers 91 cities. TAL also operates www.jzb.com, a leading online education platform in China.

Silver Lake is a global technology investment firm, with approximately $75 billion in combined assets under management and committed capital and a team of professionals based in North America, Europe, and Asia. Silver Lake's portfolio of investments collectively generates more than $180 billion of revenue annually and employs more than 400,000 people globally. 

The transaction is subject to customary closing conditions and the closing is expected to take place in the near future. The Wilson Sonsini team acting as legal counsel for the convertible notes investors led by Silver Lake includes the following attorneys:

Corporate and Mergers & Acquisitions
Weiheng Chen, Partner
Jie Zhu, Partner
Xuchao Dong, Associate
Leo Zhou, Associate
Helen Wang, Associate
Yiwen Feng, Special Associate

Corporate Finance
Erik Franks, Partner
Alex Weber, Associate

Antitrust
Christopher Williams, Senior Counsel

For more information, please see TAL Education Group’s press release.