Shearman & Sterling is advising the Special Committee of the board of directors of iDreamSky Technology Limited (“iDreamSky”) in connection with its US$592 million going-private transaction.
The buyer group is led by a group of management members, existing shareholders and new investors that include V Capital, Prometheus Capital, Legend Capital, We Capital
, and Star VC. The transaction is expected to close during the second quarter of 2016, subject to certain closing conditions.
iDreamSky is one of the largest independent mobile game publishing platforms in China and distributes well-known international mobile games through its proprietary distribution channels and third-party channels, such as app stores and device pre-installations.