Simpson Thacher Represents Alibaba Group in Proposed Going Private of AutoNavi
02.27.14
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The Firm is representing Alibaba Group Holding Limited in connection with a proposed going private transaction involving AutoNavi Holdings Limited (NASDAQ: AMAP), a leading provider of digital map content and navigation and location-based solutions in China. In its non-binding proposal letter, Alibaba has proposed to acquire all of the outstanding shares of AutoNavi not already owned by it for cash consideration of US $21.00 per ADS or US $5.25 per ordinary share. Alibaba beneficially owns preferred and ordinary shares of the Company representing approximately 28% of the AutoNavi’s total issued and outstanding shares.
The Simpson Thacher team working on the transaction includes: Katie Sudol, Ian Ho and Matthew Schwartz (M&A); Noah Metz (Tax); Tristan Brown and Linda Barrett (Executive Compensation and Employee Benefits); Peter Thomas and Ellen Frye (Antitrust); and Joshua Walker (Intellectual Property).