Simpson Thacher Reps Focus On $124M Allyes Sale

Law360, New York (July 30, 2010, 4:21 PM EDT) -- Silicon Valley private equity firm Silver Lake will pay $124 million to acquire a majority stake in Allyes Online Media Holdings Ltd., the Internet advertising subsidiary of China's Focus Media Holding Ltd., the companies announced Friday.

The share purchase agreement will give Silver Lake 62 percent indirect equity ownership of Allyes. Certain shareholders of Allyes have also agreed to sell their equity ownership to Silver Lake, which will give the firm a controlling stake in Allyes.

Founded in 1998, Allyes now claims to be the largest...
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