Kirkland & Ellis represented Vipshop Holdings Limited (NYSE: VIPS), China's leading discount online retailer for brands, in its acquisition of a 75 percent equity interest in Lefeng.com Limited from its parent Ovation Entertainment Limited. Lefeng owns and operates lefeng.com, a popular online retail website in China specialized in selling cosmetics and fashion products. The total consideration for the acquisition is approximately US$132.5 million, including cash payment and financing for assumed liabilities. The transaction was signed and closed on February 14, 2014, marking the first major strategic acquisition by Vipshop since its New York Stock Exchange debut in 2012.
The Kirkland team was led by corporate partners David Zhang and Frank Sun and included corporate partner Jesse Sheley, tax partner Angela Russo and corporate associates Yi Gao, Julia Yu and Jing Li.
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