Latham and Skadden acts as China's LeEco makes $2bn foray into US TV market
Latham's role follows its work on US TV maker Vizio's IPO filing last year
July 28, 2016 at 06:25 AM
2 minute read
Latham & Waktins and Skadden Arps Slate Meagher & Flom have been appointed to advise on Chinese conglomerate LeEco's $2bn (£1.5bn) cash purchase of US TV maker Vizio.
Latham is representing Vizio on the deal with a team lead by California corporate partners Scott Shean and David Lee. The firm is also providing advice on tax, employee benefit, finance and IP matters. Real estate, privacy, antitrust, litigation and regulatory advice is also being provided by US-based partners.
Hong Kong corporate partner David Blumental and Shanghai managing partner Rowland Cheng are providing advice on China-related matters.
Shean acted for Vizio last year when the company filed for an IPO in a bid to raise $172.5m (£130m), but it never listed. Davis Polk & Wardwell acted for the underwriters on the filing.
Skadden is acting for LeEco on the deal. The firm's team includes Hong Kong capital markets partners Julie Gao and Will Cai, corporate partner Michael Mies in Palo Alto and Asia head Michael Gisser, who splits his time between Hong Kong and Los Angeles.
The deal is expected to close in the fourth quarter of 2016.
Both Latham and Skadden raised their associate pay in line with Cravath Swaine & Moore earlier this year. The firms have extended the new scale, which begins at $180,000 for first years, to their US-qualified associates in Asia.
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