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Conyers acted as special legal counsel in the Cayman Islands to CM Seven Star Acquisition Corporation (the “Company”) in connection with the sale by Renren Inc. (NYSE: RENN) (“Renren”) to the Company of all of the issued and outstanding shares in Kaixin Auto Group (“Kaixin”) in exchange for certain ordinary shares of the Company to be issued to Renren subject to the terms and conditions in a share exchange agreement.
The Company is a blank check company formed for the purpose of entering into a business combination with one or more businesses and is listed on NASDAQ. Kaixin is a leading premium used car dealership network in China that operates online and via brick-and-mortar dealerships as well as a network that provides a range of value-added and after-sale services.
Partner Anna Chong and Associate Charissa Ball of Conyers’ Hong Kong office advised on the matter, working alongside Addleshaw Goddard (Hong Kong) LLP and Loeb & Loeb LLP.