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Article: CDC Games Increases Its Shareholding in 17game to 100%.
- Article from:
- PR Newswire
- Article date:
- March 23, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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First Step of Building Critical Mass for CDC Games to be an Independent
Standalone Company
HONG KONG and BEIJING and ATLANTA, March 23 /Xinhua-PRNewswire-FirstCall/ -- CDC Games Limited, a wholly owned subsidiary of China.com Inc, a business unit of CDC Corporation announced that it has increased its shareholding of Beijing 17game Network Technology Co., Ltd. ("17game") from 48% to 100%.
CDC Games will purchase a total of 52% of 17game, in the form of 27% cash and 73% restricted shares of China.com for a total purchase price of US$18 million. The share consideration will vest over the next two years. The founders of ...