Skadden, Arps, Slate, Meagher & Flom partner Leif King and Yahoo go way back. But in Yahoo’s recent $150 million sale of its stake in Alibaba.com, a Chinese e-commerce site, it was the firm’s Hong Kong office that proved indispensable.
Seeing an opportunity to collect this fall, Yahoo sold its 1.1 percent stake in Alibaba.com for $150 million, to UBS AG. The sale brought Yahoo a profit of about 50 percent on its 2007 investment in Alibaba’s IPO.
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