Giants invest in 3 billion dollar privatisation giants network

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Beijing time March 17 morning news, according to Bloomberg website reported that giant investment announced today, will spend 3 billion of dollars to buy giant network, and privatization.

The quote corresponds to a share price of $12 per share, compared to the giant's investment before the initial offer, that is November 22, the giant network of 10.13 U.S. dollar closing premium of 18.5%. The premium rate was 5.3% compared with the 11.40 dollar closing on March 14.

The giant's network CFO, Zhang Ying, said last August that the company's share price was undervalued by 60%, as a result of allegations of irregularities by other Chinese companies.

Shares in the Giants ' network have risen 81% over the past year.

The giant network said in a statement that the deal is expected to be completed in the second half of this year. The deal's buyers include Shi Yuzhu, Baring Asia Investment and other institutions of the Giants network, who currently hold about 49.3% of the giant's network of tradable shares.

The buyer plans to seek a 850 million-dollar five-year loan to complete the deal, Bloomberg said last month, citing people familiar with the matter. Today's statement shows that the bank of Minsheng, BNP Paribas and Credit Suisse will provide it with a loan.