Funtalk China Holdings in Going-Private Transaction
August 25, 2011
Cleary Gottlieb represented a consortium of existing shareholders, including ARCH Digital Holdings, Capital Ally Investments, GM Investment, Sinowill Holdings, Huge Harvest Enterprises, Kingstate Group and Trend Focus, in the going-private transaction of Funtalk China Holdings Limited. As a result of the transaction, Funtalk became a private company and terminated its SEC-reporting obligations as a public company.
Funtalk is a leading China-based retailer and wholesale distributor of wireless communications devices, accessories and content. The company has branch offices and regional distribution centers, operates a chain of mobile phone retail stores and has an internet retailing platform. Its shares were listed on the NASDAQ Global Market.