Nbd.com.cn
Huayi Brothers Arist Agency, the most famous entertainment company in China, acquired the third Chinese mobile games developer and operator Yinhan Technology – 50.88% equity for RMB672 million (around $110 million).
Huayi Brothers will pay RMB448 mln cash and issue around 7.6 mln shares to Yinhan. It will also provide non-public offering of around 8.45 mln shares to raise RMB224 mln.
Till 30 June, the net assets of Yinhan Technology is around RMB83 mln, and it is valued at around RMB1.32 bln in the deal.
Tencent Technology bought 15% shares of Yinhan before the acquisition and sold 7% to Huayi after the deal. It got RMB26.4 mln cash and Huayi’s equity worth of RMB59.4 mln as return.