China Mass Media Completes 'Going Private' Merger
China Mass Media, 11/02/12
Chinese television advertising company China Mass Media (PINK: CMMCY) has announced the completion of the previously announced 'Going Private' Merger Agreement dated August 6, 2012 (Merger Agreement) among the company, China Mass Media Holdings Limited (Parent), a Cayman Islands company beneficially owned by Wang Shengcheng, CMM Holdings Limited (Merger Sub), a company wholly owned by Parent, and Wang Shengcheng, pursuant to which Merger Sub will be merged with and into CMM with CMM surviving the merger as a wholly owned subsidiary of Parent. As a result of the merger, CMM became a wholly owned subsidiary of Parent.
Under the terms of the Merger Agreement, which was approved by the company's shareholders at an extraordinary general meeting held on October 31, 2012, each ordinary share of the company issued and outstanding immediately prior to the effective time of the merger has been canceled in exchange for the right to receive USD 5.00 in cash per ADS.
Editor's Note: For more background on this topic, please see "China Mass Media Corp. Enters "Going Private" Merger Agreement" MD 8/07/12 issue.
Keywords: financing Wang Shengcheng M&A TV advertising CMMCY television
Sending
