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Article: Acquisition of Stellar Mega Media Empire from Mr. Qin Hui Cost Starwin Media Holdings Inc $225 Million.
- Article from:
- PR Newswire
- Article date:
- April 13, 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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LOS ANGELES, April 12 /PRNewswire-FirstCall/ -- Starwin Media Holdings Inc. announced today that the acquisition of Stellar Mega Media Empire from Mr. Qin Hui cost Starwin $225 million.
Both parties have been negotiating since August 2005 and have reached a final agreement on February 25, 2006. In the agreement, Starwin to immediately acquire from Mr. Qin 70% stake of Strategic Media International Limited for a consideration of $25 million in stock and cash. Under the agreement Starwin shall raise an additional capital of $200 million for Stellar Mega Media Group of Companies. Mr. Qin shall provide audited financial statements prepared by an acceptable U.S. ...
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