Private equity buyer for Chinese online advertising business

    September 04, 2010 | BY

    clpstaff &clp articles

    PRC-based digital media giant Focus Media Holdings (Focus Media) has sold a majority interest in Allyes Online Media Holdings (Allyes) to private equity…

    PRC-based digital media giant Focus Media Holdings (Focus Media) has sold a majority interest in Allyes Online Media Holdings (Allyes) to private equity firm Silver Lake for US$124 million. Allyes is an online advertising and marketing provider in China. In addition to other services, it provides online market research to brands like Sony, Pepsi, Chrysler, and Taobao.

    Acting for Allyes was a Hong Kong-based Latham & Watkins team led by David Zhang, and Fangda Partners served as its PRC counsel. Simpson Thacher & Bartlett represented Focus Media Holdings, while Kirkland & Ellis advised Silver Lake.

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