BEIJING (dpa-AFX) - Shanda Games Ltd. (GAME) announced that Shanda Interactive Entertainment Limited, the controlling shareholder of Shanda Games, has entered into a share purchase agreement with Perfect World Co., Ltd. (PWRD), for Perfect World to acquire a total of 30.3 million class A ordinary shares of Shanda Games.
The company said pursuant to the share purchase agreement, Perfect World will acquire these shares from a wholly-owned subsidiary of Shanda Interactive for a total consideration of US$100 million in cash.
In addition, Perfect World has also entered into an adherence agreement to become a party to the consortium agreement dated as of January 27, 2014 between Shanda Interactive and Primavera Capital Fund I L.P., an affiliate of Primavera Capital Limited, and participate as a new member of the consortium in the proposed 'going private' transaction with respect to Shanda Games.
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