Client Highlight: CIC
S&C counsels China Investment Corporation, CITIC Capital and Boyu Capital in their equity investment in Alibaba.
S&C represented sovereign wealth fund China Investment Corporation affiliate CIC International and private equity funds CITIC Capital and Boyu Capital as lead investors in the purchase of ordinary shares of Alibaba to help finance Alibaba’s $7.1 billion buy-back from Yahoo! of approximately 523 million of its shares.
The equity portion of the financing, valued at approximately $3.9 billion, reduced Yahoo!’s stake in Alibaba to 23 percent.