LeTV acquired LeTV Pictures for 9.8 billion yuan, Zhang Yimou and other stars to share the capital feast

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LeTV plans to issue 165 million additional shares to 44 shareholders including LeTV Holdings at a price of 41.37 yuan per share, and combine it with cash payments to acquire 100% equity of LeTV Pictures at a total price of 9.8 billion yuan. LeTV plans to issue 165 million additional shares to 44 shareholders including LeTV Holdings at a price of 41.37 yuan per share, and combine it with cash payments to acquire 100% equity of LeTV Pictures at a total price of 9.8 billion yuan.

LeTV, which has been suspended for five months, announced a plan to acquire LeTV Films late this evening. LeTV plans to issue 165 million additional shares to 44 shareholders including LeTV Holdings at a price of 41.37 yuan per share, and combine it with cash payments to acquire 100% equity of LeTV Pictures at a total price of 9.8 billion yuan. Zhang Yimou, Guo Jingming, Sun Honglei, Sun Li, Huang Xiaoming and Li Xiaolu are among them.

According to the plan, LeTV will acquire LeTV Pictures with a combination of shares and cash, with the share and cash payment ratios of 69.60% and 30.40% respectively. After the transaction is completed, LeTV Pictures will become a wholly-owned subsidiary of LeTV.

At the same time, LeTV will also raise funds of no more than 5 billion yuan to pay the cash consideration for this transaction, supplement the working capital of the listed company, the target company's filming of movies and eco-produced dramas, and the target company's IP(original copyright resources) library construction project.

LeTV said that this acquisition will help enhance the company's film and television investment and distribution capabilities, form good business synergy with Huaer Film and Television, and promote the upgrading of the company's content production scale. In addition, LeTV Pictures has reserved abundant film and television copyright resources, and the company's leading edge in copyright resources will be further consolidated and improved after the merger is completed.

LeEco Holdings and others promised that LeEco Films 'net profit after deducting non-recurring gains and losses attributable to shareholders of the parent company in 2016, 2017, and 2018 will not be less than 520 million yuan, 730 million yuan, and 1.04 billion yuan respectively.

Data shows that in 2014 and 2015, Le Pictures 'operating income was 765 million yuan and 1.145 billion yuan respectively, and net profits attributable to shareholders of the parent company after deducting non-recurring gains and losses were 64 million yuan and 136 million yuan (unaudited).

It is worth mentioning that after the completion of this transaction, Zhang Yimou, Guo Jingming, Sun Honglei, Sun Li, Huang Xiaoming and Li Xiaolu will hold 3.4015 million shares, 1.4154 million shares, 679,200 shares, 679,200 shares, 169,800 shares and 169,800 shares respectively. Based on the price of 58.77 yuan before LeE.com's suspension, the stock market value of these stars will reach 200 million yuan, 83.1831 million yuan respectively, 39.9166 million yuan, 39.9166 million yuan, 9.9791 million yuan and 9.9791 million yuan.