Recent Transactions

Zhong Lun Advises Chinese Consortium on $1.9 Billion Acquisition of OmniVision Technologies, Inc. (OVTI) 2015-05-05

On April 30, 2015, OmniVision Technologies, Inc. (OVTI, a Delaware company listed on NASDAQ) announced that it has entered into a definitive agreement to be acquired by a consortium composed of Hua Capital Management Co. Ltd. (“Hua Capital Management”), CITIC Capital Holdings Limited (“CITIC Capital”) and GoldStone Investment  Co. Ltd. (“GoldStone Investment”) (collectively, the “Consortium”). Under the terms of the agreement, OmniVision stockholders will receive $29.75 per share in cash, or a total of approximately $1.9 billion.  The agreement was unanimously approved by OmniVision’s Board of Directors.

Zhong Lun, acting as the PRC counsel of the Consortium, provides legal support in connection with the deal structuring, financing and exit mechanism, contractual negotiation, etc.  Zhong Lun’s team is led by William Qiu, and team members mainly include Johnson Zhu, Changyong Liu, Yolanda Huang, Yuanyuan Tao, Haiyan Lai and Jingjing Ma. 

OVTI is a leading developer of advanced digital imaging solutions.  Hua Capital Management, an investment management company founded by an experienced investment team focused on the semiconductor industry and related areas, leverages operational and financial expertise to help portfolio companies realize their full potential and become leaders in the semiconductor industry.  CITIC Capital, an alternative investment management and advisory company, manages over $4.6 billion of capital from a diverse group of international institutional investors and its core businesses include private equity, real estate, structured investment & finance, asset management and venture.  GoldStone Investment, a wholly-owned subsidiary of CITIC Securities, is solely engaged in direct equity investment.

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