Press Release

Kirkland Represents Asia Innovations Group in Business Combination with Magnum Opus Acquisition Limited and Proposed U.S. Listing

Kirkland & Ellis is advising Asia Innovations Group Limited (ASIG), a leading mobile social company across emerging markets, on its proposed business combination with Magnum Opus Acquisition Limited (NYSE: OPA), a special purpose acquisition company. Upon closing of the business combination, ASIG’s ordinary shares are expected to be listed in the U.S. under the proposed new ticker symbol “ASIG”. The business combination, which provides for an equity valuation of $2.5 billion for the combined company, represents the largest consumer internet SPAC merger announced year to date in 2022. The transaction is expected to close in the first quarter of 2023, subject to customary closing conditions.

ASIG operates an integrated platform of products designed for mobile devices across social, mobile games, e-commerce and payments. As of Dec 31, 2021, ASIG had more than 400 million registered users located in 150 countries and regions across Asia Pacific, South Asia, the Middle East and North Africa and North and South America.

Read ASIG’s press release

The Kirkland team was led by corporate partners Jesse Sheley, David Zhang, Steve Lin and Joseph Raymond Casey.