Deals & Dealmakers - 13th January 09

    | BY

    clpstaff &clp articles

    A closer look at the latest deals completed in China

    Acorn buys Chinese equipment company
    Acorn International has acquired Yiyang Yukang Communication Equipment, a Chinese domestic communication equipment producer and distributor. The deal will give Acorn access to a new pipeline of mobile phone products and strengthen its distribution capabilities in China.

    A wholly-owned subsidiary of Acorn, a multi-platform marketing company, made the acquisition for US$6.7 million in cash and more than 2.5 million ordinary shares. It will pay out up to US$44.1 million in a combination of cash and ordinary shares if Yiyang Yukang meets certain earnings targets.

    A Shanghai-based team from O'Melveny & Myers represented Acorn, while local PRC firm Concord & Partners advised Yiyang Yukang on the deal.

    This premium content is reserved for
    China Law & Practice Subscribers.

    • A database of over 3,000 essential documents including key PRC legislation translated into English
    • A choice of newsletters to alert you to changes affecting your business including sector specific updates
    • Premium access to the mobile optimized site for timely analysis that guides you through China's ever-changing business environment
    For enterprise-wide or corporate enquiries, please contact our experienced Sales Professionals at +44 (0)203 868 7546 or [email protected]