Giant Interactive in US$3b delist deal
Print Edition
NEW York-listed Chinese online game developer Giant Interactive yesterday said it had agreed to be taken private by its parent, backed by a consortium which will fund the US$3 billion purchase.
This will assist a move toward mobile-based games, the Shanghai-based company said.
The buyers, including Giant Interactive founder and Chairman Shi Yuzhu and Baring Private Equity Asia Ltd, currently hold 49.3 percent of Giant Interactive’s shares.
The parent, Giant Investment, will pay US$12 a share for remaining shares — 2.1 percent higher than the previous proposal of US$11.75 offered in November.
This is also 5.3 percent higher than the closing price of US$11.4 on Friday.
The transaction is expected to close in the second half of this year. China Minsheng Banking Corp, BNP Paribas and Credit Suisse have arranged a loan for the deal, according to Giant.
Giant Interactive is best-known for ZT Online, a massively multiplayer role-playing game with an ancient Chinese martial arts theme.
The Chinese government’s strict regulations and the mature state of the PC market have eroded profit margins for Chinese game firms like Giant and Nasdaq-listed Shanda Games.
In January, Shanda announced it was going private in a US$1.9 billion deal.
Giant has invested heavily in the mobile games sector, acquiring developers and recruiting talent.
The sector is riding high due to the popularity of smartphones in China.
Mobile games revenue jumped some 30 percent in 2013, more than double the growth in the PC online games sector.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
