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Herbert Smith Freehills advises Newborn Town on acquisition of Mico / 史密夫斐尔律师事务所为赤子城收购米可提供法律服务

02 July 2020 | China
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Leading global law firm Herbert Smith Freehills has advised Newborn Town Inc., a Chinese mobile app developer and mobile advertising platform services provider, on its acquisition of Beijing Mico World Technology Co., Ltd.

Mico operates a social networking platform, with social networking app MICO and live streaming app Kitty Live as its primary revenue generators – both of which have market-leading positions in the Middle East, Southeast Asia and North America.

This acquisition marks Newborn Town’s expansion into overseas social networking markets since listing on the Hong Kong Stock Exchange in December 2019 – a transaction on which the firm also advised.

Upon completion, Newborn Town will hold an approximately 25.62% stake in Mico and provide a convertible loan to Mico.

“We are delighted to have advised Newborn Town on this milestone transaction," said Beijing managing partner Tom Chau. "For eight months in 2019, our team worked closely with the company on its IPO, so it's rewarding to see the company’s ongoing expansion and success.”

"This transaction underlines our longstanding commitment to tech, media and telecoms clients," said Beijing partner Isaac Chen. "We are deeply experienced in supporting clients in their pursuit of disruptive innovation and market expansion."

Partners Tom Chau and Isaac Chen led the team, assisted by associates Weili Zhong, Kathy Zhang and paralegal Daina Wang in Beijing.

 

全球领先的律师事务所史密夫斐尔为中国移动应用开发商及移动广告平台运营商赤子城收购北京米可世界科技有限公司提供法律服务。

米可运营一个社交网络平台,其核心收入来源社交网络应用程序MICO和直播应用程序Kitty Live在中东、东南亚和北美拥有市场领先地位。

此次收购标志着赤子城自2019年12月在香港联交所上市以来首次进行面向海外社交网络市场的扩张。史密夫斐尔此前曾为赤子城赴港IPO上市提供法律服务。

该交易交割后,赤子城将持有米可约25.62%的股权,并提供可转债借款。

史密夫斐尔北京办公室管理合伙人邹兆麟表示:“我们很高兴能够为赤子城这一里程碑式的交易提供服务。在2019年历经八个月的时间里,史密夫斐尔的团队与赤子城紧密配合,助力其顺利完成IPO,看到赤子城能够持续扩张并不断取得成功我们由衷感到欣慰。”

史密夫斐尔北京办公室合伙人陈敏表示:“这笔交易体现了我们对TMT行业客户的长期承诺。我们致力于在客户追求颠覆性创新的道路上提供助力。”

合伙人邹兆麟和陈敏率领律师团队为此次交易提供法律服务。主要团队成员包括北京办公室钟卫利 (Associate)、张凯西 (Associate)以及王黛娜 (Paralegal)。

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