Shanda Games goes private

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    Shanda Interactive Entertainment (Shanda) underwent a going private merger with Premium Lead Company (Premium Lead). The Chairman of Shanda, Tainqiao Chen,…

    Shanda Interactive Entertainment (Shanda) underwent a going private merger with Premium Lead Company (Premium Lead). The Chairman of Shanda, Tainqiao Chen, his wife and brother, jointly owned Premium Lead. The transaction values Shanda's equity at US$2.3 billion on a fully diluted basis.

    The deal is one of the largest privatisations of a US-listed PRC company and it was structured as a merger after which Premium Lead would acquire Shanda. Bank of America Merrill Lynch and JP Morgan were the financial advisors.

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