Shanda Games has announced that Chinese online game developer and publisher Perfect World Entertainment will purchase 30 million of the company’s shares in a deal valued at US$100 million.
Perfect World will also join the consortium that has announced intentions to take the Chinese game publisher private. The publically traded company’s major shareholders offered Shanda Games a US$1.9 billion buyout proposal earlier this year.
The offer was made by Shanda Interactive Entertainment, which is owned by Primavera Capital. The consortium currently controls 76.2 per cent of the company’s shares. The group would pay US$3.45 billion to acquire Shanda Games’ outstanding Class A shares, a premium of US$1.9 billion (21.3 per cent) over the company’s US share price.
Shanghai-based Shanda Games manages a diversified portfolio of over 70 mobile and online games in China and overseas, ranging from casual titles to MMORPGs.
