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publicado el 02 de OCTUBRE de 2009

Slaughter and May is advising Alibaba.com on Acquisition of majority equity interest in China Civilink

Slaughter and May, Hong Kong, is advising Alibaba.com Limited (“Alibaba”) in relation to its conditional acquisition of an up to 99.67% interest in China Civilink (Cayman) ("China Civilink") from its controlling shareholder, SYNNEX Corporation, and various other founders of China Civilink for a total consideration of approximately US$79 million. Alibaba concurrently entered into a shareholders’ agreement with the remaining founders of China Civilink to provide the founders with various incentives, including a put option and performance linked earn-in shares arrangements. The conditional acquisition was announced on 28 September 2009 and constitutes a disclosable transaction under the Hong Kong Listing Rules. Alibaba is the global leader in business-to-business (B2B) e-commerce. Founded in 1999, Alibaba makes it easy for millions of buyers and suppliers around the world to do business online through three marketplaces which form a community of more than 42 million registered users from over 240 countries and regions. Alibaba also offers business management software solutions targeting small businesses across China under the “Alisoft” brand. Founded in Hangzhou, China, Alibaba has offices in more than 40 cities across Greater China, as well as Japan, Korea, Europe and the United States. The China Civilink Group (which operates the popular website www.net.cn) is a leading provider of internet infrastructure services in China, including domain name services, web and server hosting services, e-mail hosting services and website design and development services. SYNNEX Corporation, China Civilink’s controlling shareholder, is a Fortune 500 corporation and a leading business process services company, serving resellers, retailers and original equipment manufacturers (OEMs) in multiple regions around the world, and provides services in distribution, contract assembly and global business services and also sells products complementary to these service offerings in China. The acquisition will bring to Alibaba four strategic assets: a large new customer base, new value-added applications, advanced and automated “do it yourself” (DIY) website technology and a strong management and operating team. The acquisition will also bring increased synergy and opportunities across both China Civilink Group and Alibaba. The acquisition will enable Alibaba to acquire new technology, expand its customer base, and also help Alibaba provide a more comprehensive range of services to its existing and new small businesses customers. Benita Yu (partner), Vanessa Cheung (associate), Gary Hau (associate), Joanna Lee (associate)