Yucheng Technologies Limited in Going-Private Transaction

August 13, 2012

Cleary Gottlieb is representing the Independent Committee of the Board of Directors of Yucheng Technologies Limited, a leading China-based IT solutions provider, in a going-private transaction by Mr. Weidong Hong, the company’s Chairman and CEO. The execution of the merger agreement was announced on August 13. The merger will be financed by a combination of exchangeable notes issued to certain private equity investors and personal funds of the Chairman. Closing is expected to take place in the fourth quarter of 2012, 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.

Yucheng Technologies Limited, ranked No. 1 in market share among IT solutions providers to Chinese banks and financial institutions in China for two consecutive years of 2010 and 2011, was the first China-based financial sector IT services company listed in the United States in 2007 and its shares are listed on the NASDAQ Global Select Market.