Shanghai, August 2, 2004 –Read today’s legal news, law, law firm news & legal articles in LAWFUEL Weil, Gotshal & Manges’ new Shanghai office completed its first major transaction since opening in July, when it advised Lenovo Group Limited (HKSE: 0992) in connection with the negotiation and execution of its definitive agreement to enter into a strategic alliance with AsiaInfo Holdings, Inc. (NASDAQ: ASIA).
Pursuant to the strategic alliance, Lenovo, the largest technology enterprise in China, will transfer its non-telecom IT related services business to AsiaInfo, a software and solutions provider, in a stock transaction valued at RMB 300 million (US$36.3 million).
Steven Xiang, the managing partner of the new Shanghai office, led the Weil Gotshal team, assisted principally by Anthony Wang from the Silicon Valley office, and Jason Lilien, Jeff Osterman, Helyn Goldstein and Steven Margolis from the New York office.
Steven Xiang commented:
“We were happy to assist Lenovo in this important transaction so quickly after opening our new Shanghai office. Our team of lawyers from Shanghai, Silicon Valley and New York worked seamlessly to provide legal advice to the client, and we believe that this transaction is reflective of the growing opportunities in China to advise on increasingly sophisticated deals. Our cross-border M&A and technology capabilities were important to our participation in this transaction and should serve very useful to our clients as we expand our platform here in China. ”
For further information please contact:
Steven Xiang Managing Partner, Shanghai +86 21 32174618
Les Zuke Head of Global Public Relations, New York +1 212 310 8410
Kate Brown Marketing Manager, London +44 20 7903 1379