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Shanda Games to get 3 new investors
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THREE companies will become new shareholders of Shanghai-based Shanda Games as the Nasdaq-listed firm prepares to go private.
Orient Finance Holdings, a subsidiary of Orient Securities, Haitong Securities’ Shanghai Buyout Fund, and Ningxia Zhongyin Cashmere International Group will buy a combined 58 percent stake in Shanda Games from previous shareholders, Shanda Games said yesterday in a statement.
After the new investment, parent Shanda Group will hold 18 percent of Shanda Games, ranking as the No. 3 shareholder behind Oriental Finance’s 23 percent and Shanghai Buyout Fund’s 20 percent, the statement said.
But the company didn’t reveal the deal’s details including the transaction value.
The new investors will replace Primavera, Perfect World, FV Investment Holdings and CAP IV Engagement.
In January, Shanda Group said it was taking Shanda Games private in a US$1.9 billion deal. The new investors, however, are expected to list Shanda Games on the domestic market, according to analysts.
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