close

Fenwick & West Represents the Special Committee of Giant Interactive in US$3B Going Private Transaction

March 20, 2014

Fenwick & West represented the Special Committee of the Board of Directors of Giant Interactive Group Inc. (NYSE: GA), one of China’s leading online game developers and operators, as its U.S. legal counsel in its merger agreement with Giant Investment Limited and Giant Merger Limited, a wholly owned subsidiary of Giant Investment, pursuant to a going-private transaction with a consortium consisting of Mr. Yuzhu Shi (the chairman of the board of directors of Giant Interactive Group), an affiliate of Baring Private Equity Asia and an affiliate of Hony Capital Fund V, L.P. Under the terms of the merger agreement, Giant Investment will acquire Giant Interactive Group for a cash consideration equal to US$12 per ordinary share of the Company, and US$12 per American Depositary Share of the company, or approximately US$3 billion in aggregate cash consideration.

The merger, which is currently expected to close during the second half of 2014, is subject to customary closing conditions, including the approval by an affirmative vote of holders of Shares representing at least two-thirds of the Shares present and voting in person or by proxy as a single class at a meeting of the Company’s shareholders, which will be convened to consider the authorization and approval of the Merger Agreement and the transactions contemplated by the Merger Agreement, including the Merger, and the other closing conditions specified in the Merger Agreement.

The Fenwick transaction team included corporate attorneys Gordy Davidson, David Michaels, Eva Wang, Ken Myers, Aaron Hou, Jen Huang and Elena Coleman.​