Shanda Interactive Entertainment Limited, incorporated in the Cayman Islands (“Shanda” or the “Company”) (Nasdaq: SNDA), a leading interactive entertainment media company in China, today announced that its Board of Directors has received a preliminary non-binding proposal letter from Mr. Tianqiao Chen, Chairman of the Board, Chief Executive Officer and President of Shanda, to acquire all of the outstanding ordinary shares of the Company not currently owned, legally or beneficially, by Mr. Tianqiao Chen, his wife Ms. Qianqian Luo, who is also a non-executive director of Shanda and his brother Mr. Danian Chen, who is also the Chief Operating Officer and a director of Shanda (together, the “Buyer Group”), for US$41.35 per American Depositary Share (“ADS”) or $20.675 per ordinary share in cash. As of September 30, 2011, the Buyer Group controlled approximately 68.4% of the outstanding shares of the Company (excluding outstanding options of the Company).
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Shanda Announces Receipt of Non-Binding Proposal to Acquire All Outstanding Public Shares at $41.35 per ADS in Cash
Today UltiZen Games Limited Shanghai (Headquarters: China Shanghai; CEO: Lan Haiwen; “UltiZen”), China browser and smartphone game developer and publisher announced the alliance with GREE, Inc. (Headquarters: Minato-ku, Tokyo; Founder and Chief Executive Officer: Yoshikazu Tanaka; Listed in the First Section of Tokyo Stock Exchange; Code: 3632; “GREE”).
GREE aspires to offering the “No.1″ community service which is widely utilized by the people all over the world by providing good quality contents to more users through the social game platforms for smartphones.
Under such circumstances, with the purpose of strengthening GREE’s developing ability of good quality contents and social games, GREE has formed a business collaboration with UltiZen which has bases in Shanghai, Beijing, and Tokyo and deploys the game development service. And today, both companies have entered into an agreement to acquire some of the shares of capital stock of UltiZen for further business collaboration and strengthening the relationship with UltiZen.
“We are very excited to align with GREE, the world leading mobile social network service provider,” said Lan Haiwen, chief executive officer at UltiZen. “The alliance opens an over 100 million user-based mobile social network for UltiZen to develop creative and interesting smartphone contents for. After GREE being the shareholder of UltiZen, the partnership between GREE and UltiZen could be even more fruitful.”
Perfect World Co., Ltd. (NASDAQ: PWRD), a leading online game developer and operator based in China, today announced that it has entered into a definitive agreement to sell Perfect World (Beijing) Pictures Co., Ltd., the entity that operates Perfect World’s film business, to Beijing Ever Joy Pictures Co., Ltd., for a total consideration of RMB360 million.
Beijing Ever Joy Pictures Co., Ltd is majority-owned by Michael Yufeng Chi, Perfect World’s chairman of the board and chief executive officer. The transaction has been approved by the board of directors and a special committee consisting of all independent directors of the board.
Perfect World said the transaction is expected to sharpen the company’s focus on its core online game development and operation business and maximize shareholder value over time.
It is said that Kylin Games recently had successfully raised tens of millions of dollars which lead by CDH Investments. Jin Shang, CEO of Kylin Games, has not commented on the rumor but said that they had enough fund to develop Sword of the Revolution OL.
Established on July 7, 2007 and headquartered in Beijing, Kylin Games is a leading third-generation online games operator in China. Kylin Games received its first round of financing ($15 million) in November 2008, which was another foreign capital injection in addition to the 40 million Yuan of angle investment Kylin Games had received in 2007. Kylin Games’ first online game Genghis Khan’s PCU had reached 200,000 but the Spirit Street and Genghis Khan 2 did not come up to expectation. Kylin Games’ COO Shanghu Xin redigned in May and has set up his own mobile gaming business.
On SNDA’s game brand press conference All-Star during China Joy, Tan Qun Zhao says the company has held 500,000,000 USD especially for small and medium-sized teams of game production in China. The money will be invested to those teams as long as the company has got a desirable target.
Tan points out the money is mainly spent on those client , web and moblie phone based game producers and game launch platforms, while the latter is exclusively for launch abroad. “We are not hurry to get controlling the interest of small and medium-sized teams, we should firstly let them finish the works on the previous schedule.” Tan says. Before that, SNDA has acquired Mochimedia, an American game sales and distribution platform, and Eyedentity Games, a Korean producer for Dragon Nest.
HSBC Global Investment Funds, a SICAV domiciled in Luxembourg, in the American Depositary Shares of Changyou.com Limited, amounted to 868,300 American Depositary Shares or 8.938% of the total outstanding American Depositary Shares at June 30, 2011.