HONG KONG, April 21, 2014 /PRNewswire/ -- Shanda Games
Limited (NASDAQ: GAME, "Shanda
Games" or the "Company"), a leading online game developer,
operator, and publisher in China,
today announced that Shanda Interactive Entertainment Limited
("Shanda Interactive"), the controlling shareholder of Shanda Games, has entered into a share purchase
agreement with Perfect World Co., Ltd. (NASDAQ: PWRD, "Perfect
World"), another leading online game developer and operator in
China, for Perfect World to
acquire a total of 30,326,005 class A ordinary shares of
Shanda Games. 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. The purchase is expected to be consummated in 30 days,
subject to the satisfaction of customary closing conditions.
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 (Cayman) Fund I L.P., an
affiliate of Primavera Capital Limited, and participate as a new
member of the consortium (the "Consortium") in the
proposed "going private" transaction with respect to
Shanda Games. The Consortium has
submitted a preliminary non-binding proposal letter dated
January 27, 2014 (the "Proposal") to
the board of directors of Shanda
Games. According to the Proposal, the Consortium proposed to
acquire Shanda Games in a "going
private" transaction for US$3.45 per
class A or class B ordinary share of Shanda
Games, or US$6.90 per ADS.
According to the Proposal, the proposed transaction is intended to
be financed with a combination of equity capital funded by the
Consortium members and third-party debt. The Proposal states that
it constitutes only a preliminary indication of interest and is
subject to negotiation and execution of definitive agreements
relating to the proposed transaction.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. Statements in
this press release that are not historical facts represent only the
Company's current expectations, assumptions, estimates and
projections and are forward-looking statements. These
forward-looking statements involve inherent risks and
uncertainties. Important risks and uncertainties that could cause
the Company's actual results to be materially different from
expectations include, but are not limited to, the risks set forth
in the Company's filings with the U.S. Securities and Exchange
Commission, including its annual report on Form 20-F. The Company
does not undertake any obligation to update any forward-looking
statement, except as required under applicable law.
This press release is not an offer of securities for sale in
the United States. Securities may
not be offered or sold in the United
States absent registration or an exemption from
registration. Any public offering of securities to be made in
the United States will be made by
means of a prospectus that may be obtained from the issuer or
selling security holder and that will contain detailed information
about the company and management, as well as financial
statements.
About Shanda Games
Shanda Games Limited (NASDAQ: GAME) is a leading online game
developer, operator, and publisher in China. Shanda
Games offers a diversified game portfolio, which includes
some of the most popular massively multiplayer online (MMO) games
and mobile games in China and in
overseas markets, targeting a large and diverse community of users.
Shanda Games manages and operates
online games that are developed in-house, co-developed with
world-leading game developers, acquired through investments or
licensed from third parties. For more information about
Shanda Games, please visit
http://www.ShandaGames.com.
Contact
Shanda Games Limited:
Ellen Chiu, Investor Relations
Director
Maggie Zhou, Investor Relations
Associate Director
Phone: +86-21-5050-4740 (Shanghai)
Email: IR@ShandaGames.com
Christensen:
Christian Arnell
Phone: +86-10-5900-1548 (China)
Email: carnell@ChristensenIR.com
Linda Bergkamp
Phone: +1-480-614-3004 (U.S.A.)
Email: lbergkamp@ChristensenIR.com
SOURCE Shanda Games Limited