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Article: Shanda Interactive and Hurray confirm stake acquisition deal.
- Article from:
- China Business News
- Article date:
- June 9, 2009
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Shanda Interactive and Hurray confirm stake acquisition deal
Shanghai. June 9. INTERFAX-CHINA - Shanda Interactive Entertainment Ltd.
will acquire a 51 percent stake in Nasdaq-listed Hurray, Shanda Interactive confirmed on June 9.
The acquisition will be made through a Shanda Interactive subsidiary, although the company did not reveal which one. Shanda Interactive will pay a premium of 25 percent to acquire the 51 percent share in Hurray.
The transaction will cost approximately $46.2 million, according to Shanda Interactive.
There has been speculation for almost two months of Shanda Interactive's plans to acquire a ...