Shearman & Sterling advised Qunar Cayman Islands Limited (“Qunar”) in connection with the US$500 million strategic investment in Qunar led by Silver Lake in the form of 2% Senior Unsecured Convertible Notes. Silver Lake has made a US$330 million investment, while another investor contributed US$170 million.
Qunar is a leading mobile and online travel platform in China. By providing technology infrastructure for travel service providers on mobile and online platforms, Qunar integrates and offers the most comprehensive selection of travel products and the most convenient means to complete desired transactions for Chinese travelers. It is a “well known seasoned issuer” as defined by the SEC.
Silver Lake is one of the global leaders in technology investing, with over US$26 billion in combined assets under management and committed capital. Silver Lake's portfolio of investments collectively generates more than US$85 billion of revenue annually and employs more than 200,000 people globally. The firm's current portfolio includes leading technology and technology-enabled businesses such as Alibaba Group, Avago, Avaya, Dell, Global Blue, Go Daddy, Hillstone Networks, Intelsat, Interactive Data Corporation, Quorum Business Solutions, Red Ventures, Sabre, SMART Modular, SunGard, Vantage Data Centers, Virtu Financial and William.