Davis Polk is advising the buyer group consisting of Mr. Zhengdong Zhu, co-founder, chairman of the board of directors and chief executive officer of China Distance Education, Ms. Baohong Yin, co-founder and deputy chairman of the board of directors of China Distance Education, their affiliated entity, certain other existing shareholders and equity investors, in connection with its acquisition for $2.45 per ordinary share or $9.80 per American depository share of China Distance Education. The transaction is subject to customary closing conditions, including approval by the shareholders of China Distance Education and is expected to close in the first half of 2021.
Headquartered in Beijing, China, and listed on NYSE, China Distance Education is a leading provider of online education and value-added services for professionals and corporate clients in China.
The Davis Polk corporate team includes partner Howard Zhang, counsel – registered foreign lawyer Lijun (Annie) Yan and registered foreign lawyer Zhuoran (Michael) Xu. Members of the Davis Polk team are based in the Beijing and Hong Kong offices.