In one of the first major outbound investments by a Chinese internet company, and one of largest Chinese investment deals in Russia and Eastern Europe, Freshfields Bruckhaus Deringer has advised Tencent Holdings on its US$300 million investment in Digital Sky Technologies.
Tencent is a long-standing client of Freshfields, which assisted with its initial public offering in Hong Kong in 2004.
Digital Sky Technologies is one of the largest internet companies in Russia and Eastern Europe.
“This was a complex cross-border M&A deal involving both Hong Kong and Russian law,” said Freshfields corporate partner Calvin Lai. “The Hong Kong and Moscow offices of Freshfields worked closely together to deal with the complexities.”
Skadden Arps Slate Meagher & Flom advised Credit Suisse, which was the independent financial adviser.
