Hogan Lovells advises Kingdom Holding Company on a strategic investment in 360 Buy Jingdong Inc.
- Saudi Arabia: Tuesday, February 19 - 2013 at 16:13
- PRESS RELEASE
A Hogan Lovells team from offices in Beijing, London and Washington, D.C. represented Kingdom Holding Company (KHC), chaired by long-time client HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud of Saudi Arabia (Prince Alwaleed), in leading a consortium of investors to acquire a $400m strategic stake in the largest internet consumer sales company in China, 360Buy Jingdong Inc. The investor group was advised by QInvest LLC, Qatar's leading investment bank.
Prince Alwaleed is well known for his international investments as well as for the Alwaleed Bin Talal Foundations, which support charities and educational programs throughout the world. Gulf Business recently named Prince Alwaleed as Number 1 on their annual list of the 100 most powerful Arabs in the world and he is ranked Number 14 on the Bloomberg listing of the world's richest people.
Hogan Lovells is proud to represent Prince Alwaleed and KHC in pursuing and capitalizing on global investment opportunities, particularly in a transaction that solidifies the strategic relationship between Saudi Arabia and China and extends of the initiative of King Abdullah to support the business alliance between Saudi Arabia and The People's Republic of China. Hogan Lovells also represented KHC and Prince Alwaleed in their combined $300m investment in Twitter.
The Hogan Lovells team working on this transaction included Mark Mazo (based in Washington and the Middle East), Steven Robinson and Lu Zhou (Beijing), Colin Craik and Philip Watson (London) and James Rosenhauer and Merry Anderson (Washington, D.C.).
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