Debevoise & Plimpton is advising insurance company American International Group, Inc. on a $6 billion placement of shares in its Hong Kong spin-off, AIA Group Ltd. Hong Kong partner Drew Dutton and New York partner Peter Loughran are leading a team acting for AIG, which sold the shares to institutional investors on March 5 as a way of partially paying back the U.S. government for a $182 billion bailout in 2008. The deal reduces AIG’s stake in the Hong Kong insurer to 19 percent. The underwriters of the share placement have turned to Linklaters Hong Kong partner Pamela Shores. [Read full story]

Skadden, Arps, Slate, Meagher & Flom and Kirkland & Ellis have lead roles in the $1.1 billion merger of rival Chinese online video hosting sites Youku, Inc. and Tudou Holdings Ltd. Both Chinese companies are listed in the U.S. on the Nasdaq exchange. Under the terms of the agreement, Tudou’s shareholders will receive shares in its bigger rival, Youku. Skadden Hong Kong partners Julie Gao and Michael Gisser are providing U.S. counsel to Youku. Shanghai-based TransAsia Lawyers is advising the company on Chinese law, while David Lamb of the Hong Kong office of Conyers Dill & Pearman is acting as offshore counsel. Kirkland & Ellis Hong Kong partners David Zhang, Jesse Sheley, and Pierre-Luc Arsenault are advising Tudou on U.S. law. Jonathan Zhou of Fangda Partners in Beijing is the company’s Chinese counsel and Greg Knowles of Maples and Calder‘s Hong Kong office is advising on offshore law. [Read full story]

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