Grand games say goodbye to games?

Guide: As Internet giants scramble to build an internet ecosystem, old internet companies are selling their assets. It is understood that at present, Shanda's proprietary core assets are left Sheng, Sheng and so on.
November 27, the grand game announced that the Grand Interactive Entertainment Group will be its current holdings of 18% of the stake, part of the sale to the China Cashmere Shengda Investment Holdings (Hong Kong) Limited, and the other part of the sale to billion Li Shengda Investment Holdings (Hong Kong) Limited. The deal, two companies have access to 48759187 shares of Class B common stock. At this point, Shanda Interactive Entertainment Group no longer holds any grand game shares. And the continued increase in the Ningxia in the Silver Velvet Industry Group (the company, hereinafter referred to as "China Cashmere Group") to obtain a total of 24% of the equity (a class shares + B shares) and about 40.1% of the voting rights, become the largest shareholder of Shanda Games.

At the same time, Grand founder Chen officially withdrew from the Grand game board seat, and resigned from its grand game chairman and remuneration committee, Enterprise Development and Finance Committee chairman, the above three positions by the Grand game incumbent CEO Zhang Yi successor. It is noteworthy that the company's one of the Li Shengda Investment Holdings (Hong Kong) Limited by Zhang Yi as the representative of the Grand Game Core management team control, the transaction completed, the company won 9% of the equity and 34.5% of the voting rights.

A head of the U.S. investment agency said the grand and Chen move was a complete surrender of the right to gain and the right to vote, completely selling its most lucrative gaming business.

From Shanda's movements for nearly two years, it has been "sold out". At the beginning of November, the market was sold to the grand literature Tencent, valuation 4 billion-5 billion yuan, Shanda subsequently denied the party for Tencent. November 27, the Grand Group of public relations director Zhuge in an interview with reporters declined to disclose details, said the announcement is subject to. Before that, Shanda also sold the Hangzhou winger, Shanghai Hao Fang, cool 6 of all or part of the equity; once the Shanda online business was also sold in the deal because it was merged into Shanda Games.

As Internet giants scramble to build an internet ecosystem, old internet companies are selling their assets. It is understood that at present, Shanda's proprietary core assets are left Sheng, Sheng and so on. In this respect, Zhuge said, Shanda Group has successfully transformed into an investment holding company.

Three steps to sell the most profitable business

"To the grand game is not surprised to sell, only to the market point of view, in this wave of hand swimming tide, Shanda has lagged behind, there is nothing to take shots of the game." "A game company official told reporters. But from the previous earnings data, the grand game is always the most lucrative business.

In September this year, the Grand Game Privatisation consortium changed its members, the market speculation is about to exit the game market. At that time Chen responded that Shanda did absolutely nothing to quit the game, we did it to be able to let go of the game in a larger market, in the eyes of more recognized game investors, in the vast world can get greater development.

Chen Tianqiao "Let Go" game from the beginning of this year officially started, but the process twists. On January 27 this year, Shanda announced that the company had received a privatisation offer from a consortium led by the controlling shareholder, who gave the deal a price of $1.9 billion. At that time, by the spring capital, the perfect world, FV investment Holdings and cap IV indicators limit formed a consortium, it is understood that Chen and Shanda also have funds to support privatization. But in September, Shanda announced a change in the consortium's membership, and the four companies sold their shares to Oriental Financial holding, Haitong Securities and the China Cashmere Group.

It is worth noting that, according to the announcement of the Perfect world, its four months only rely on "resell" Grand game equity benefit 4 million dollars. The head of the U.S. investment agency said that there may be two reasons to change the consortium members, one is Chen think clearly to return to the domestic, but take into account the cost, because of the Sino-US capital markets, the direct acquisition by Chinese companies higher costs, and by the grand and perfect world such as the first purchase Resale at home is more convenient in operation, the cost is low; second, Chen Tianqiao didn't think clearly before the game business is to return a a-share or continue to stay overseas, because once returned to sea has some difficulties, so first select overseas dollar fund to buy, then think clearly to return to the domestic, and then through the RMB fund to complete privatization. He said that as a resale, the perfect world and other institutions will certainly not "free" service.

In this round of equity restructuring, the Grand stakes are also diluted. According to the data, January, the grand and spring Capital shareholding 76% (listed, Grand shareholding accounted for more than 71%), September, three new members of the shares, the grand share of shares to 18%, the deal will be all of the 18% shares sold.

Or take the new shareholder A shares listed

The head of the U.S. investment agency said that from the outset, Shanda planned to leave the market in the course of the privatisation. And after two months of the deal, in the grand game has not yet completed the privatization of the background, the original founder and controlling shareholders have opted for a complete exit, and two consecutive groups of the group leaped into the first major shareholder.

If the Oriental financial holding company, Haitong Securities due to have a brokerage background and is conducive to Shanda games in the shares listed, that China Velvet group and billion Li Shengda Investment Holdings (Hong Kong) is worth noting two companies.

It is understood that the group of cashmere, textile started, currently owned by the listed companies in the silver velvet industry, this round of the participation in the trading of the China Cashmere Tatsu Investment Holding (Hong Kong) Limited for its affiliated companies. But according to public information, it is not possible to determine the September China Velvet Group through which corporate entities to buy shares in the grand game.

According to the financial results of the company, its controlling shareholder of the group is a non-state-owned legal person, its business involves cashmere, real estate, catering and so on. Ma Seng is the group legal person and also the chairman of the listed company. Listed companies in the silver velvet industry main plush, cashmere, cashmere yarn, cashmere products production and sales, previously through the backdoor landed in Shenzhen Stock Exchange.

A traditional enterprise to become a network game company's largest shareholder, whether to stage a backdoor listing? Just this is the Grand game backdoor in the silver velvet industry. Before, Shanda official said whether backdoor by shareholder decision. And the above game company official said, although the current is not by the Chinese silver cashmere industry direct acquisition, but as affiliated companies, the future realization of asset restructuring integration, packaging into the listed companies is very possible, at present many traditional enterprises began to transition to the Internet.

According to earnings data, in the first half of this year, the net profit of the Chinese-silver cashmere industry to shareholders of listed companies fell 38.25%, and the net profit of shareholders in the third quarter fell by 45.87%. Starting from August 25, the Sino-silver cashmere industry announced that it was planning a temporary suspension of major matters and has not yet been dealt with.

The future trend of the impact of the grand game is also the China cashmere Shengda Investment Holding (Hong Kong) Limited, by the Grand Game executive team control. The owner of the game company said the equity arrangement could be a comfort to the management team. But it's worth noting that Zhang Yi just assumed the CEO less than one months.

October 28 Night, the grand game suddenly worded a stern announcement, according to the board resolution, formally removed Zhang Grand Game CEO, lifting its work with the grand game of Labor relations, dismissed its Grand game director identity. Zhang as a former CEO and board member of the Grand game, its management and development philosophy and the Board of Directors there is a big disagreement, the administration and implementation strategy can not be recognized by the Board, performance performance can not meet expectations. At the same time, the company board of Directors formally appointed Zhang Yi as a grand game acting CEO, supplemented Zhang Yi for Shanda game director.

But in August, the "Final Fantasy 14", led by Zhang, has just officially come online. The head of the game company speculated that Zhang's dismissal could be linked to the restructuring of the equity reorganization. But the news has not been confirmed.

Future investments in the Internet and finance

Transformation is a big word for nearly two years, but with the transformation of a business sell-off and a large amount of capital, there are various doubts and personnel unrest.

According to the public information, 2012, the grand will Hangzhou winger and Shanghai Hao side to nearly 3.5 billion yuan price sold to Zhejiang Newspaper Group, April 2014, the sale of 41% Cool 6 stake, according to the then stock price calculation, about 60 million U.S. dollars, this transaction has been questioned the benefits of transmission, because the whole process does not involve capital flow, It is done in the form of a grand loan to the purchaser.

Grand another big business. Although the transaction of Shanda literature has not been publicly announced, the whole process has caused more unrest than a grand game. Shanda submitted its prospectus to the US sec in 2011, but it did not land in the capital markets until it was sold. May 2013, again occurs "the beginning of the change", Shanda literature President Wu Wenhui left office, and the successor of Hou in 7 months after the choice and Chen Tianqiao "break Up", leaving the grand literature. In the second half of this year, also preach the grand literature was sold, according to market rumors, valuation in 4 billion-5 billion yuan, the controlling shareholder grand again to withdraw large sums of money.

At this point, in the grand business plate, games, literature, video, etc. once the main core assets and strategic business have been sold, leaving only Sheng, Sheng and other royal group directly under the Internet platform business. But in the field of online payment and cloud computing, big enemies around the world, Alipay, Tenpay (micro-credit) has accounted for most of the pay market, and BAT's cloud computing has gradually matured.

Zhuge to reporters, Shanda Group has transformed into an investment holding company, the Internet and finance as the main investment direction, at present in the VC field, Shanda also invested a large number of Internet enterprises, the recent focus on internet finance.