Sina’s Going Private Transaction


Kirkland & Ellis advised Morgan Stanley Asia Limited as financial advisor to the special committee of the board of directors of Sina Corporation on the deal.

SINA Corporation (Nasdaq: SINA) has entered into an Agreement and Plan of Merger with New Wave Holdings Limited (“Parent”) and New Wave Mergersub Limited, a wholly owned subsidiary of Parent, pursuant to which Parent will acquire all of the Company’s outstanding ordinary shares not currently owned by Parent and its affiliates in an all-cash transaction implying an equity value of the Company of approximately US$2.59 billion for all the Ordinary Shares.

Parent is a wholly owned subsidiary of New Wave MMXV Limited, a British Virgin Islands company controlled by Mr. Charles Chao, Chairman and Chief Executive Officer of the Company.

SINA is a leading online media company serving China and the global Chinese communities. Its digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile apps) and Weibo (social media) enables internet users to access professional media and user generated content in multi-media formats from personal computers and mobile devices and share their interests with friends and acquaintances.

Morgan Stanley Asia Limited is serving as financial advisor to the Special Committee. Gibson, Dunn & Crutcher LLP is serving as U.S. legal counsel to the Special Committee. Harney Westwood & Riegels is serving as Cayman Islands legal counsel to the Special Committee.

Skadden, Arps, Slate, Meagher & Flom LLP is serving as U.S. legal counsel to New Wave.

The Kirkland team advising Morgan Stanley is led by transactional partners Daniel Dusek (Picture) and Xiaoxi Lin.

Involved fees earner: Daniel Dusek – Kirkland & Ellis; Xiaoxi Lin – Kirkland & Ellis;

Law Firms: Kirkland & Ellis;

Clients: Morgan Stanley Asia Limited;

Author: Michael Patrini