Advisory firm Gump assists IDG in selling to Chinese conglomerate Oceanwide
In a significant development, international law firm Gump Strauss Hauer & Feld LLP has played a pivotal role in advising International Data Group (IDG) on various legal matters, including a major transaction that took place on March 29, 2017.
IDG, a renowned media, data, and marketing services company, was sold to China Oceanwide Holdings Group Co., Ltd. Upon closing, China Oceanwide Holdings became the controlling shareholder of IDG, with a 90% ownership share.
Gump Strauss Hauer & Feld LLP, with its extensive global presence and over 900 lawyers in offices worldwide, provided valuable legal counsel to IDG. Christian Davis, Jung Hwa Song, and Dallas Woodrum from the firm's Washington, D.C. office advised IDG in obtaining Committee on Foreign Investment in the United States (CFIUS) clearance. Scott Heimberg and Joe Whitehead from the same firm counseled IDG on government contract issues involved in the transaction.
IDG's venture business, IDG Ventures, also underwent a change as IDG Capital, with offices in [Location not provided], became a minority shareholder. IDG Capital holds a 10% share in IDG's operating businesses.
Founded in 1945, Gump Strauss Hauer & Feld LLP has a rich history and a global footprint, with offices on multiple continents, including the United States, Europe, Asia, and the Middle East. The firm's expertise spans a wide range of legal matters, making it a go-to choice for numerous international clients.
Christian C. Davis, a partner at Gump Strauss Hauer & Feld LLP based in Washington, D.C., specializes in space law and policy. His expertise was undoubtedly valuable in navigating the complex legal landscape of the IDG-China Oceanwide Holdings transaction.
The transaction received clearance from CFIUS, ensuring that it was in compliance with the Committee's regulations regarding foreign investments in the United States. This clearance was a crucial step in the successful completion of the deal.
With its commitment to excellence and its global reach, Gump Strauss Hauer & Feld LLP continues to be a leading player in the international legal landscape, providing invaluable advice and guidance to its clients in navigating complex transactions and legal matters.
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