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Zhong Lun Advises Chinese Consortium on $1.9 Billion Acquisition of OmniVision Technologies, Inc.

August 2015 - Mergers and acquisitions. Legal Developments by Zhong Lun Law Firm.

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On April 30, 2015, OmniVision Technologies, Inc. (OVTI, a Delaware company listed on NASDAQ) announced that it has entered into a definitive agreement to be acquired by a consortium composed of Hua Capital Management Co. Ltd. (“Hua Capital Management”), CITIC Capital Holdings Limited (“CITIC Capital”) and GoldStone Investment Co. Ltd. (“GoldStone Investment”) (collectively, the “Consortium”). Under the terms of the agreement, OmniVision stockholders will receive $29.75 per share in cash, or a total of approximately $1.9 billion. The agreement was unanimously approved by OmniVision’s Board of Directors.

Zhong Lun, acting as the PRC counsel of the Consortium, provides legal support in connection with the deal structuring, financing and exit mechanism, contractual negotiation, etc. Zhong Lun’s team is led by William Qiu, and team members mainly include Johnson Zhu, Changyong Liu, Yolanda Huang, Yuanyuan Tao, Haiyan Lai and Jingjing Ma.

OVTI is a leading developer of advanced digital imaging solutions. Hua Capital Management, an investment management company founded by an experienced investment team focused on the semiconductor industry and related areas, leverages operational and financial expertise to help portfolio companies realize their full potential and become leaders in the semiconductor industry. CITIC Capital, an alternative investment management and advisory company, manages over $4.6 billion of capital from a diverse group of international institutional investors and its core businesses include private equity, real estate, structured investment & finance, asset management and venture. GoldStone Investment, a wholly-owned subsidiary of CITIC Securities, is solely engaged in direct equity investment.

Zhong Lun Advises Yuexiu Transport Infrastructure on a US$1 Billion Medium Term Note Programme

Zhong Lun has acted as PRC counsel to Yuexiu Transport Infrastructure Limited (01052.HK) in connection with the establishment of the US$1 billion medium term note programme and its subsequent issue of the EURO 200 million notes due 2018 notes. The closing of the notes issue took place on 7 May 2015. The programme is listed on the Stock Exchange of Hong Kong while the notes are listed on the Global Exchange Market of the Irish Stock Exchange.

Yuexiu Transport Infrastructure Limited and its subsidiaries operate and invest in toll expressways in Guangdong province and the mid-western region of China. It has investments in certain high profile expressway and bridge projects including Guangzhou Northern Second Ring Expressway, GD Humen Bridge and Guangzhou Northern Ring Freeway, all of which are located in Guangdong Province; Xian to Lintong Expressway in Shaanxi Province; Han-Xiao Expressway in Hubei Province; Cangyu Expressway in Guangxi Zhuang Autonomous Region; Jinbao Expressway in Tianjin Municipality; Changzhu Expressway in Hunan Province and Wei Xu Expressway in Henan Province.

This deal is the first time an expressway company in China has offered Euro bonds outside of China, taking advantage of strong investor demand as Eurozone interest rates continued to hover around historic lows.

The Zhong Lun team was led by partners Zhang Xuebing and Christie Tao, with support by partner Glory Rong, associates Zhang Zixing and Lin Yiling of our Guangzhou office.

Zhong Lun is Awarded with Corporate and Finance PRC Law Firm of the Year 2015

Chambers Asia-Pacific Awards revealed its results in Hong Kong on May 4, 2015 and Zhong Lun was named as the Corporate and Finance PRC Law Firm of the Year, a prestigious award in the legal realm.

Chambers & Partners gives awards to top-tier law firms across regions as recognition of their outstanding achievements. For the year 2015, Chambers & Partners has only set two award categories for specific practice areas of Chinese law firms, Corporate/Finance (non-litigation) and Dispute Resolution (litigation), and of both categories Zhong Lun ranks among the top 5 and was awarded as the best law firm in the former category.

This is Zhong Lun’s second consecutive win following 2014’s PRC Law Firm of the Year awarded by Chambers and Partners.

According to Chambers Asia-Pacific Guide 2015, Zhong Lun has been recommended in 23 practice areas, 16 of which get recommended as Band 1, and 46 of Zhong Lun’s lawyers has been recommended over their respective practice areas. Such excellent review marks Zhong Lun’s fourth consecutive year since 2012 as the Chinese law firm with most practice areas, most Band 1 practice areas and most lawyers recommended by Chambers & Partners.

Each year, Chambers & Partners honors the world’s preeminent law firms and lawyers. In 2014, Zhong Lun remains as a leader in providing legal services and continues to receive the clients’ recognition and trust by advising on a host of high-stake and high-profile deals both in and outside China.

Zhong Lun is awarded “National Law Firm of the Year for China” by IFLR

IFLR Asia Awards 2015, hosted by International Financial Law Review (IFLR), was held at JW Marriott Hotel Hong Kong on March 3, 2015.

Excelling in both services and experience, Zhong Lun is well recognized by both the clients and professional institutes, and the “National Law Firm of the Year for China” is a clear proof of such deep level of recognition. In addition, the “Pactera take-private financing” case handled by Zhong Lun’s partners Anthony Zhao and Shirley Lu, together with their associates, has been awarded as the “High Yield Deal of the year”.

Founded in 1982, IFLR is a top-tier publication specializing in international finance in financial institutions, corporates and private practice for lawyers. As a professional publication, IFLR is authoritative and widely influential in the business. Many domestic and foreign law firms have competed for the titles in this award, the final result of which is decided by the professional team of IFLR editors using their independent judgment made according to the feedback collected from various legal consultants, lawyers and experts of investment banks. The ranking has taken into consideration different aspects of each firm, and the criteria include the complexity and innovation of the cases represented by the firms.

As an international and market-leading publication of financial law, IFLR offer authoritative guidance of legal practices for numerous financial institutes, corporates and private lawyers.

Zhong Lun Is Awarded as 2015’s Best Law Firm in Financial Service Disputes by Acquisition International

In March 2015, Zhong Lun Law Firm was awarded as the Best Law Firm in Financial Service Disputes (China) by Acquisition International (the “AI”).

AI is a prestigious UK-based publisher committed to releasing comprehensive and professional industry ratings and news in the area of corporate and finance. AI’s annual award is subject to in-depth and objective assessment process conducted by leading experts, aiming at honoring institutes and individuals that stand out from their peers in terms of their excellence and innovation in financial and legal landscapes. As a top-level firm in solving financial service dispute, Zhong Lun Law Firm, tapping our deep well of local and international experience, never fails to provide clients with streamlined and to-the-point advice and the most effective solutions. Our firm is well recognized in the legal market for our ability to work with multiple languages, first-class communication skill, professionalism, commitment and seamless cross-team coordination.

As a leading expert in financial service disputes, Mr. Wilson Wei Huo has constantly demonstrated his outstanding performance in resolving financing and/or banking disputes. The team led by Wilson work closely with banks, trust companies, assets management agencies, securities traders, fund management companies and their subsidiaries, and other financial institutions that offer structured products, as well as PE/VC investment and financial institution’s direct investment. Wilson’s team have been representing cases on behalf of financial institutions against the issuers of the above-mentioned structured products and disputes between/among the financial institutions and investment agencies.