Kirkland & Ellis represented Vipshop Holdings Limited (NYSE: VIPS), China's leading discount online retailer for brands, in its acquisition of a 23% minority equity interest in Ovation Entertainment Limited through a share purchase and a subscription for new shares, for a total consideration of approximately US$55.8 million. Ovation’s business focuses on the development of cosmetics under its proprietary brands and media products in China. The transaction was signed and closed on February 21, 2014.
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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