Aluminum Distributor Fubang Jingye to Buy Skymoons Mobile Game Firms
DoNews, 7/11/16
Ningbo-based Fubang Jingye Group (600768.SH), a company principally engaged in the distribution of aluminum materials and the provision of warehousing services, has announced that it will wholly acquire Chengdu-based mobile game developers Skymoons Digital Entertainment and Skymoons Interactive for a total of RMB 3.9 bln.
The company will spend RMB 3.75 bln in a cash and newly-issued-stock deal to purchase Skymoons Digital Entertainment, and RMB 150 mln in cash to purchase Skymoons Interactive.
Skymoons Digital Entertainment and Skymoons Interactive were established in 2012 and 2014, respectively. The latter combines research and development, publishing and copyright licensing operations into a single mobile gaming company whose major titles include The Journey of Flower and Sanguo Weili Jiaqiangban, among others.
Fubang Jingye has said that the deal would diversify the company away from being merely a processing and sales business for aluminum materials into a listed company with a mobile internet games research, development, publication, operation and incubation business to complement their existing aluminum processing operations.
Editor's Note: According to Fubang Jingye's announcement, Skymoons Digital Entertainment and Skymoons Interactive both list He Yunpeng and Chen Chen as their largest shareholders. He Yunpeng holds 35.41% and 45.84% stakes in Skymoons Digital Entertainment and Skymoons Interactive, respectively, while Chen holds 21.96% and 35.84% of each company, respectively. In February 2015, Chengdu-based broadcasting system management products provider Geeya Technology (300028.SZ) announced it would wholly acquire Skymoons Interactive for RMB 2.2 bln, but the deal fell through after Geeya's controlling shareholder was placed under investigation by Chinese authorities in June that year. For more information on this topic, please see "Geeya to Acquire Mobile Gaming Firm Tianxiang Hudong for RMB 2.2 bln," MD 2/14/15 issue.
Keywords: Fubang Jingye 600768.SH M&A Skymoons mobile gaming Sanguo Weili Jiaqiangban wireless Journey of Flower
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