Shearman & Sterling and Davis Polk & Wardwell have the lead roles advising on a $690 million leveraged buyout of Chinese online game developer Shanda Interactive Entertainment Ltd., according to sibling publication The Asian Lawyer.
The Asian Lawyer’s Jessica Seah reports that Shanda chief executive Chen Tianqiao already owns 70 percent of the Nasdaq-listed company with his wife and brother. The deal will see them acquire the remaining interest in the Shanghai-based company, according to Seah.
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