Conyers acted as Cayman Islands counsel to Meten International Education Group (“Meten”) in connection with a merger transaction involving EdtechX Holdings Acquisition Corp. (“EdtechX”) (Nasdaq: EDTX) and a related private placement to institutional investors including Azimut and Xiamen ITG Holding Group. The merger consideration in the transaction implies approximately US$535 million in equity value for Meten.
Meten, and its digital platform Likeshuo, is a leading English language training service provider in the People’s Republic of China and EdtechX is the world’s first special purpose acquisition company focused on investing in the education services and education technology industry. The combined entity operates as Meten EdtechX Education Group Ltd. (Nasdaq: METX) and will continue to focus on providing English language and future skills training for Chinese students and professionals.
Partner Christopher Bickley and Associate Ryan McConvey of Conyers’ Hong Kong office advised on the matter, working alongside Luk & Partners in association with Morgan, Lewis & Bockius.