On December 30, 2011, the world's largest IPTV operator Bestv New Media Co., Ltd. (stock code: 600637, "Bestv") successfully listed on the Shanghai Stock Exchange, becoming China's first broadcast and TV new media company accomplishing overall listing of operational assets. Bestv has announced the success of its backdoor broadcast and TV information restructuring. Being the first mainstream broadcast and TV new media enterprise going public, Bestv is credited as "The First Broadcast and TV New Media Stock".
The deal is composed of the following three impartible parts: (1) Shanghai Media Group under Radio and Television Shanghai acquiring 36.6% shares of the listed company SVA Information with RMB 1990 million of monetary capital; (2) SVA Information selling all of its original assets and businesses to its controlling shareholders and other entities; (3) Shanghai Media Group and other shareholders subscribing to SVA Information's increased shares with the equities of Bestv Technology (and other companies) held by it as well as monetary capital.
As legal counsel to the restructuring party Shanghai Media Group, Llinks has provided full legal services regarding this project, including business mode demonstration, design of acquisition and restructuring plan, preparation of documents, negotiation, provision of legal opinion and execution assistance, etc.
