TPG Asia in Investment in Li Ning Company

January 20, 2012

Cleary Gottlieb represented TPG Asia in its investment in Li Ning Company. The investment comprised a subscription of 561 million yuan ($89 million) convertible bond and a HK$349.8 million ($45 million) share acquisition from the founding shareholder. The deals were signed in January 2012 and completed in February 2012.

Li Ning Company is listed on the Hong Kong Stock Exchange and is one of the leading sports brand enterprises in the Peoples’ Republic of China. Its products include footwear, apparel, equipment and accessories for sports and leisure use.