March 07, 2014 // Franchising.com // Shanghai - A joint venture led by members of Faegre Baker Daniels' corporate practice won in its category in the 6th Annual International M&A Advisor Awards. The $237 million joint venture between FaegreBD client BesTV New Media, Ltd. (BesTV) and Microsoft was named "Transaction of the Year" in the Technology, Media and Telecom sector.
In the joint venture, BesTV joined Microsoft to become E-Home Entertainment Development. The company engages in sales, distribution and marketing activities with respect to Microsoft's new generation of all-in-one gaming products. Notably, the joint venture received one of the first business licenses issued by the Shanghai Free Trade Zone. Furthermore, the transaction represents a possible lift on China's 13-year ban on selling foreign game consoles.
Wendy Yan, a corporate partner in FaegreBD's Shanghai office, led the joint venture team, which also included associate Leo Tian, consultant James Zhang, and partners Gary Laitner and Brenda Robinson.
The joint venture between BesTV and Microsoft was also selected as a Joint Venture of the Year by the China Business Law Journal in January.
The 6th Annual International M&A Advisor Awards honored the leading deal teams, firms and dealmakers whose activities set the international standard. This year, more than 300 participating regional, national and global companies were judged for the awards. An independent jury of industry experts evaluated nominees and selected winners.
The complete list from The M&A Advisor shows winners for all categories: http://www.maadvisor.net/IMA/2014-IMA/2014-IMA-press-release-backend.pdf.
SOURCE Faegre Baker Daniels
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