Focus Media Holding Limited's US$3.7 billion privatization was named "Private Equity Deal of the Year" at IFLR's 2014 Asia Awards. Held in Hong Kong, the event recognized Fried Frank's representation of the buyer group consortium in the going-private transaction, which is China's largest leveraged buyout in history.
Focus Media operates China's largest lifestyle targeted interactive digital media network. The buyer group consortium included the chairman of Focus Media and affiliates of The Carlyle Group, FountainVest Partners, CITIC Capital Partners, China Everbright Ltd. and Chinese conglomerate Fosun International Limited. Fried Frank also provided fund-related advice to certain consortium members.
Working on the matter were Fried Frank corporate partners Douglas Freeman and Victor Chen; executive compensation & employee benefits partner Jeffrey Ross; litigation partners William McGuinness and Israel David; tax partner David Shapiro and litigation special counsel Linda Riefberg. Additional support was provided by corporate partner Carolyn Sng and international counsel Alfred Wu on Hong Kong law matters. Corporate partners Richard Ansbacher and Andrew Varney provided fund-related advice to certain consortium members.