Perfect World Co., Ltd., a Chinese online game developer and operator,  announced on April 26, 2015 that it has entered into an agreement with its chairman to be taken private.  The deal values the company at around USD 1bn.

Perfect World has entered into an agreement and plan of merger with Perfect Peony Holding Co. Ltd., owned by Mr. Michael Yufeng Chi, Perfect World’s founder and chairman of the board of directors, and Perfect World Merger Company Limited, a wholly owned subsidiary of Perfect Peony.

Skadden acted as U.S. legal advisor to a committee of independent directors established by the Board (the “Special Committee”).  The Skadden team included partners Julie Gao, Peter Huang,  Daniel Dusek, and Clive Rough.

Conventus Law