Norton Rose Fulbright advises on sale of South China Morning Post to Alibaba Group

Global law firm Norton Rose Fulbright has advised SCMP Group Limited (“SCMP Group”) on the HK$2.06 billion (approximately US$266 million) sale of its media business to Alibaba Investments Limited, a wholly owned subsidiary of Alibaba Group Holding Limited.

In addition to the sale of Hong Kong’s leading English-language newspaper, the South China Morning Post, the disposal includes other media assets of SCMP Group including magazine, recruitment, outdoor media, events, conferences, education and digital media businesses of the group. The disposal also comprises other SCMP titles including the Sunday Morning Post, its digital platform SCMP.com and related mobile apps, and Chinese websites Nanzao.com and Nanzaozhinan.com along with HK Magazine and the local editions of Esquire, Elle, Cosmopolitan, The PEAK and Harper’s BAZAAR.

SCMP Group will continue to be listed on the Hong Kong Stock Exchange with a focus on property investment.

The transaction constitutes a very substantial disposal for the SCMP under the Hong Kong listing rules, and is subject to shareholder approval.

The Norton Rose Fulbright team was led by partner Jon Perry, assisted by associate Esther Yee, and trainees Jane Yau and Henry Trevelyan Thomas (all Hong Kong).

For further information please contact:

Agnese Rone, Marketing and Communications Executive, Asia
Tel: +852 3405 2445
agnese.rone@nortonrosefulbright.com

Notes for editors:

Norton Rose Fulbright is a global law firm. We provide the world’s pre-eminent corporations and financial institutions with a full business law service. We have more than 3800 lawyers and other legal staff based in more than 50 cities across Europe, the United States, Canada, Latin America, Asia, Australia, Africa, the Middle East and Central Asia.

Recognized for our industry focus, we are strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare.

Wherever we are, we operate in accordance with our global business principles of quality, unity and integrity. We aim to provide the highest possible standard of legal service in each of our offices and to maintain that level of quality at every point of contact.

For more information about Norton Rose Fulbright, see nortonrosefulbright.com/legal-notices.