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O’Melveny & Myers LLP Represents Global Education in Acquisition by Pearson

November 22, 2011

FOR IMMEDIATE RELEASE

 

Contact:

 

Julie Fei                                    Piper Hall                                      Lena Li

O’Melveny & Myers LLP       O’Melveny & Myers LLP            O’Melveny & Myers LLP

213.430.7792                            202.220.5022                                +86-10-6563-4282 (Beijing)

jfei@omm.com                      phall@omm.com                        leli@omm.com

 

BEIJING, CHINA ─ NOVEMBER 22, 2011 ─ O’Melveny & Myers LLP represents Global Education & Technology Group Limited (Nasdaq: GEDU), a leading provider of language training, educational courses and test preparation services in China, in its proposed sale to Pearson plc (Pearson), a global media and education company headquartered in London.  The parties have entered into a definitive agreement and plan of merger pursuant to which Pearson (through a merger sub) would acquire all outstanding Global Education shares for a total value of approximately US$294 million.  The transaction remains subject to approval by Global Education’s shareholders and is expected to be completed in the fourth quarter of 2011.

 

The transaction, once completed, will be a landmark for China-based companies that have listed in the United States through a traditional underwritten IPO, a phenomenon that began over a decade ago with the US IPOs of well-known Chinese Internet and technology companies.  O’Melveny has represented Global Education since its first institutional round financing by SB Asia Investment Fund II L.P. (SAIF) in 2006 and also represented the company on its successful US IPO and Nasdaq listing in October 2010.

 

The O’Melveny team was led by partners David Roberts (Beijing) and Paul Scrivano (San Francisco and New York), counsel Nima Amini (Hong Kong) and Ally Zhu (Beijing), and associate Jiangshan Tang (Beijing).

 

For more information about the transaction, please see the Global Education press release.

 

About O’Melveny & Myers LLP

With approximately 800 lawyers in 15 offices worldwide, O’Melveny & Myers LLP helps industry leaders across a broad array of sectors manage the complex challenges of succeeding in the global economy. We are a values-driven law firm, guided by the principles of excellence, leadership, and citizenship. Our commitment to these values is reflected in our dedication to improving access to justice through pro bono work and championing initiatives that increase the diversity of the legal profession. For more information, please visit www.omm.com