Slaughter and May is advising Alibaba Group Holding Ltd. on a $266 million proposed acquisition of Hong Kong-based newspaper South China Morning Post and related media assets.
The deal was announced late last Friday after weeks of speculation. In an all cash transaction, Alibaba will buy publications including the English-language daily South China Morning Post and the Hong Kong edition of magazines Esquire, Elle, Cosmopolitan and Harper’s Bazzar, mainly from controlling shareholder Kerry Group Ltd., the Hong Kong-based subsidiary of Malaysian tycoon Robert Kuok’s Kuok Group.
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