Dacheng attorneys advise on proposed takeover of media company

On 16 April, China Securities Regulatory Commission (CSRC) gave approval to Guangdong Guangzhou Daily Media Co for its proposed takeover of Shanghai Advision Media Co via payment of cash and stock issue. The takeover was advised by a team composed of Shanghai-based partner Zhang Xinming, Beijing-based senior partner Xu Dong and Guangzhou-based associate Cao Daowei.

The decision was made at the 21st working conference of Listed Company M&A and the Restructuring Committee of CSRC.

The Dacheng attorneys designed a restructuring plan, offered legal counsel on relevant matters, conducted due diligence, issued a letter of legal opinion and drafted and revised all legal documents and files in connection with the transaction.