Davis Polk Leads Citic In $890M Software Co. Buy

Law360, Chicago (May 13, 2013, 7:30 PM EDT) -- A buyer group led by Chinese private equity firm Citic Capital Partners has reached an $890 million deal to take telecommunication software company AsiaInfo-Linkage Inc. private, according to a Monday statement.

The Citic consortium — which also includes Edward Tian, a co-founder and major shareholder of AsiaInfo-Linkage — agreed to pay $12 per share in cash for the Beijing-based company, representing a 52 percent premium over its share price before the buyout plans were first revealed last January, the parties said.

AsiaInfo-Linkage’s board has approved the...
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