Lenovo in $350 Million Strategic Investment in Connection with IBM Acquisition
March 30, 2005
Cleary Gottlieb represented Texas Pacific Group and Newbridge Capital LLC in a deal that provides Lenovo Group Limited with $350 million strategic investment in connection with its acquisition of International Business Machines Corporation’s personal computer business.
Cleary Gottlieb also represented TPG in its long-running bid to acquire IBM’s PC business during 2004.
Lenovo is a leading IT enterprise in China, engaged primarily in the manufacturing and sale of desktop computers, notebook computers, mobile handsets, servers and peripherals in China. Lenovo’s ordinary shares are traded on the Stock Exchange of Hong Kong, and its American Depositary Receipts are traded in the United States.