Davis Polk & Wardwell and Haiwen & Partners are advising Chinese search engine Baidu, Inc., on its acquisition of travel Web site Qunar. Both companies are based in Beijing.
Nasdaq-listed Baidu, which has a market share of 76 percent and is capitalized at about $46 billion, is paying $306 million for a majority stake in the travel Web site. The company has not disclosed the percentage of the interest it is acquiring. Qunar, which means “where to?” in Mandarin Chinese, allows users to search for flights, hotels, and other travel information.
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