Happigo Secures CSRC Approval to Acquire Five Hunan Broadcasting Businesses
Happigo, 6/22/18
TV and online shopping channel operator Happigo Home Shopping (300413.SZ), a subsidiary of Hunan Broadcasting System (HBS) company Mango Media, recently announced that the China Securities Regulatory Commission has approved its major asset restructuring and RMB 2 bln fundraising program, under which it will acquire five HBS subsidiaries including Kuaile Yangguang Interactive Entertainment Media (Mango TV), online and mobile game developer Mango Interactive Technology, TV production firm EE-Media, film studio Mango Studios, and entertainment content developer Mango Entertainment for a total of RMB 11.5 bln.
Happigo Home Shopping's acquisition of Mango TV will result in the first A-shares market listing for a Chinese-controlled online video platform. Mango TV is the chief target of the asset-restructuring program and accounts for the largest component of the total transaction value, at RMB 9.53 bln.
Editor's Note: For more information on this topic, please see Update: Happigo to Acquire Five Hunan Broadcasting Businesses for RMB 11.5 Bln, MD 9/28/17 issue. Happigo Wins Regulatory Approval to Purchase Five Hunan Broadcasting Businesses, MD 11/30/17 issue.
Keywords: corporate restructuring online gaming film Internet online video Happigo EE-Media Hunan Broadcasting System Mango TV Kuaile Yangguang Mango Media film studio Mango Interactive Mango Entertainment Mango Studios 300413.SZ television M&A TV content production mobile gaming
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