The Nasdaq-listed Bona Film Group, a leading Chinese film company, has agreed to be acquired by a group of buyers in a transaction valued at about US$1 billion.
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The buyer group includes the founder of Bona, affiliates of internet giants Alibaba and Tencent, Fosun International, and affiliates of private equity funds Sequoia Capital and SAIF Partners. The deal is expected to close in the second quarter of 2016, subject to customary closing conditions.
Bona Film produces movies in a variety of genres, owns 30 movie theatres and manages a number of Chinese stars. Its film distribution spans across Greater China, South Korea, Southeast Asia, the US and Europe.
Legal counsel: Shearman & Sterling is advising the independent committee of Bona’s board of directors. Kirkland & Ellis is advising the buyer group. Simpson Thacher & Bartlett is serving as US legal counsel to Bona.
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