Shearman & Sterling is advising Barclays Bank PLC as the financial advisor to the special committee of the board of Jiayuan.com International Ltd. (“Jiayuan.com”) in connection with the company’s going-private transaction.
In this transaction, Jiayuan.com announced its entry into a definite merger agreement with LoveWorld Inc. and FutureWorld Inc., both of which are wholly owned subsidiaries of Baihe Network Co., Ltd. (“Baihe”). The deal is expected to close no later than the first quarter of 2016, subject to customary closing conditions.
Jiayuan is China’s largest online dating platform and Baihe is another leading Chinese online dating platform.
The Shearman & Sterling team was led by partner Paul Strecker (Hong Kong-M&A), with support from associate David Dorfman (Hong Kong-M&A).