Latham & Watkins Represents Binance in US$200 Million Strategic Investment in Forbes

Hong Kong deal team is advising the blockchain and cryptocurrency infrastructure provider on the investment.

February 11, 2022

Binance, one of the world’s largest cryptocurrency and blockchain infrastructure providers, will be making a US$200 million strategic investment in Forbes, the iconic business information brand that convenes and curates the most influential leaders driving change, as detailed in Forbes’ press release. Forbes and Magnum Opus Acquisition Limited (NYSE: OPA) (Magnum Opus), a publicly traded special purpose acquisition company, earlier announced plans to pursue a business combination, expected to close Q1 of 2022, through which Forbes would become a publicly traded company on the New York Stock Exchange trading under the ticker symbol FRBS. Binance’s strategic investment will be through Binance’s assumption of US$200 million of commitments in the US$400 million private investment in public equity that was previously announced along with Forbes’ intention to go public via a business combination with Magnum Opus. 

Latham & Watkins LLP represents Binance in the investment with a corporate team led by Hong Kong partners Terris Tang, Frank Sun, and Benjamin Su, with associate Yao Yang and foreign legal consultant Echo Xu.

Notice: We appreciate your interest in Latham & Watkins. If your inquiry relates to a legal matter and you are not already a current client of the firm, please do not transmit any confidential information to us. Before taking on a representation, we must determine whether we are in a position to assist you and agree on the terms and conditions of engagement with you. Until we have completed such steps, we will not be deemed to have a lawyer-client relationship with you, and will have no duty to keep confidential the information we receive from you. Thank you for your understanding.