NAVINFO has released its announcement that its controlling shareholder - China Siwei Surveying & Mapping Technology Corporation (CSMTC), a subsidiary of China Aerospace Science and Technology Corporation - has completed transfer formalities by transferring to Tencent 11.28% of equity in NAVIMFO, making Tencent the 2nd shareholder of NAVINFO. The transfer drew continuing attention in the industry, especially the capital market. Noteworthy that, after the transfer, NAVINFO will become a listed company without controlling shareholder or actual controller, which is considered as a significant feature of this transaction.
Grandall has been retained as Tencent's special legal advisor with Ms. WU Xiaoliang, Mr. ZHOU Yijie and Ms. HUANG Wenting being key lawyers servicing Tencent.