Cleary Gottlieb is representing the Special Committee of the Board of Directors of SYSWIN, a leading primary real estate service provider in China, in a going-private transaction by Mr. Liangsheng Chen, CEO, President and a director of the company. The execution of the merger agreement was announced on December 24, 2012. The merger will be financed by a combination of personal funds of the CEO and the cash of the company. Closing is expected to take place around the end of the first quarter of 2013, subject to the approval of shareholders representing two-thirds of the shares present and voting at the extraordinary general meeting and other customary closing conditions.
With operations in 28 cities throughout China, SYSWIN is the largest real estate agency relating to new residential properties in Beijing and Northern China and its shares have been listed on NYSE since 2010.
