Clifford Chance advised The Carlyle Group on the US$1.9 billion equity investment into the financial services group of Baidu (also known by its brand name as ‘Du Xiaoman’, ‘Baidu FSG’) in connection with its spin-off from Baidu.
The investment in Baidu FSG was made by a group of investors led by Carlyle and TPG. After the investment, these investors will collectively hold a majority of equity stake in Baidu FSG. Baidu FSG will operate independently from Baidu and will enter into business cooperation arrangements with Baidu.
Clifford Chance advised The Carlyle Group on the deal with a team led by Partners Fang Liu (Hong Kong) and Terence Foo (China, in picture), assisted by senior associates Brian Harley and Jay Liang.
Law Firms: Clifford Chance;
Clients: Carlyle Group;