Grand Games privatisation adds new members, Ningxia billion Lida partnership alliances

Tencent Science and technology news March 17, Shanda Games Co., Ltd. said that has received Ningxia billion Lida Capital Investment Limited Partnership notice: Ningxia billion Lida, Dongfang (Hong Kong) Limited, Dongfang Hong (Hong Kong) Co., Ltd., Hao Ding International Limited reached an agreement on March 16, agreed to form an alliance to buy a grand game, To complete the privatisation of Shanda games.

Ningxia billion Lee Tatsu for the Grand game is currently acting CEO Zhang Yi and Ningxia in the silver Velvet Industry Group joint control company. Zhang Yi holds a 9% per cent stake in the grand game and 34.5% of the voting rights, while the Chinese-silver cashmere industry holds a 24% stake in the Grand game and a 40.1% vote.

January 27, 2014, by Shanda Interactive Entertainment Limited, Shanda Games, the controlling shareholder and other parties formed the Alliance (Grand Alliance) to the Grand Board submitted a preliminary non-binding letter of recommendation (Grand proposal).

According to the contents of the Grand proposal, the Grand Alliance bought Shanda games to privatize with 3.45 US dollars per Class A common or class B common stock, or the price of $6.9 per US depository Unit (equal to two A shares per share).

Subsequently, the Grand Board formed a Special committee composed of independent directors and authorized the Commission to consider grand proposals and other alternative proposals or competitive quotations, and to submit feedback to the board. Oriental Securities and Haitong Securities affiliated companies signed not to quit the agreement, joined the Grand Alliance, the Grand Interactive sale of its holding of the grand game of common stock, and notify Shanda game its exit Grand Alliance. (Wing fly)