Controlling shareholder wins 90% stake in Century Huatong or enjoys Shanda Games 'A-share feast
on the evening of January 6, Century Huatong announced that Huatong Holdings, the controlling shareholder of Century Huatong, and its major shareholders intend to hold a total of 47.92% of Shanda Game through the acquisition of the above five partnerships. After the completion of this transaction, the company's controlling shareholders and major shareholders will indirectly hold 90.92% of the shares in Shanda Game.
on the evening of January 6, Century Huatong announced that Huatong Holdings, the controlling shareholder of Century Huatong, and its major shareholders intend to hold a total of 47.92% of Shanda Game through the acquisition of the above five partnerships. After the completion of this transaction, the company's controlling shareholders and major shareholders will indirectly hold 90.92% of the shares in Shanda Game.
in June 2015, the controlling shareholder of Century Huatong and Shao Heng and Wang Meng acquired and indirectly held a 43% stake in Shanda Game by setting up a limited partnership. January 6, 2017 Huatong Holdings and its general partner Shanghai Yaoyuru Investment Partnership (limited partnership) and Ningxia Zhongrong Shengda equity investment partnership (limited partnership), Ningxia Zhongrong cultural industry equity investment enterprise (limited partnership), Ningxia Zhongrong legendary equity investment partnership (limited partnership), Ningxia Zhengjun equity investment partnership (limited partnership), Ningxia Silk Road Equity Investment Partnership (Limited Partnership) signed an equity transfer agreement.
according to the agreement Huatong Holdings intends to acquire 9.08% of Shanda game indirectly held by Ningxia Zhongrong Shengda equity investment partnership (limited partnership), 15.00% of Shanda game indirectly held by Ningxia Zhongrong cultural industry equity investment enterprise (limited partnership), and 5.35% of Shanda game indirectly held by Ningxia Zhongrong legendary equity investment partnership (limited partnership). Ningxia Zhengjun equity investment partnership (limited partnership) indirectly holds 6.73% of Shanda game, and Ningxia Silk Road equity investment partnership (limited partnership) indirectly holds 11.77% of Shanda game.
the above five partnerships hold a total of 47.92% of Shanda Games. Before this acquisition, the company's controlling shareholders and major shareholders indirectly held 43% of Shanda Games.
this acquisition is going through the formalities of delivery and transfer of ownership. After the completion of this transaction, the company's controlling shareholders and major shareholders will indirectly hold a total of 90.92% of Shanda Game.
the announcement said that after the completion of this acquisition, the company has the right to request Huatong Holdings, Wang Meng and Shao Heng to transfer 90.92% of their interest in Shanda Game to the company at any time if they think the conditions are appropriate and comply with the relevant policies and regulations. The acquisition consideration will be negotiated and determined on the basis of actual valuation. If the company does not make an equity acquisition request within 12 months after the completion of this acquisition, then Huatong Holdings, Wang Meng and Shao Heng should transfer their 90.92% interest in Shanda Game to other third parties that are not related to Huatong Holdings, Wang Meng and Shao Heng within the next 12 months, in order to solve the industry competition with the company.
strong > Shanda's seven-year privatization consortium / strong > strong > officially changed ownership Century Huatong / strong >
Shanda Game Co., Ltd. is an Internet game company registered in the Cayman Islands, which was listed on NASDAQ in the United States and delisted at the end of 2015. In fact, the consortia that have been involved in Shanda Games have changed seven times since Shanda was privatized. Until June 2015, after the sixth change of consortium and the entry of Century Huatong through the "gravel fund", nine major shareholder platforms were formed, which belonged to three major factions, namely, China Cashmere Group, Century Huatong and Shanda management. Among them, Ningxia Yilida is the company controlled by the core management team represented by Zhang Yingfeng, then CEO of Shanda Games.
in May 2016, Shanda's management announced that all shares and voting rights held by Ningxia Yilida had been sold to JW HOLDINGSCAYMAN LP, a subsidiary of Yintai Group, which was also the latest change in a privatized consortium of Shanda Games.
as Shanda games change owners again, it also indicates that Shanda game management will usher in another change. At the same time, whether the Shanda game can continue to use the "Shanda Game" trademark has also become a mystery.
it is worth noting that during the 2016 ChinaJoy, Tan Yanfeng, vice president of Shanda Games, revealed that the trademark of Shanda Games is about to expire and the name of Shanda Games has not been finally decided. Shanda Games and Shanda Group are communicating on this, and will deal with the trademark matters before the end of December. Today, whether Shanda games can continue to use trademarks is still up in the air.
through this acquisition, it can be seen that Century Huatong is about to become the new owner of Shanda game, and the privatization farce of Shanda game has come to an end.
according to the announcement, Century Huatong shares will resume trading on Monday, January 9, 2017.
strong > Yien is collated and released according to the relevant reports of TechWeb and BlueKing Media. / strong >
Edit: nancy