BEIJING, Sept. 2, 2014
/PRNewswire/ -- Perfect World Co., Ltd. (NASDAQ: PWRD)
("Perfect World" or the "Company"), a leading online game developer
and operator based in China, today
announced that it has entered into a definitive agreement to sell a
total of 30,326,005 class A ordinary shares of Shanda Games Limited
(NASDAQ: GAME) ("Shanda Games"),
being the entire equity interest that Perfect World previously
acquired. Pursuant to the agreement, the Company will sell
these shares to Shanghai Buyout Fund L.P., a third party unrelated
to Perfect World, at a premium for a total consideration of
US$104,624,717 in cash. The
transaction 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 agreement to
withdraw from a consortium (the "Consortium") to which the Company
had joined per an adherence agreement to the consortium agreement
dated as of January 27, 2014 between
Shanda Interactive Entertainment Limited, the controlling
shareholder of Shanda Games, and
Primavera Capital (Cayman) Fund I L.P., an affiliate of Primavera
Capital Limited, in the proposed "going private" transaction with
respect to Shanda Games. The
Consortium had submitted a preliminary non-binding proposal letter
dated January 27, 2014 (the
"Proposal") to the board of directors of Shanda Games, whereby 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. The Proposal constitutes only a preliminary indication
of the interest of the Consortium and is subject to negotiation and
execution of definitive agreements relating to the proposed
acquisition transaction. Upon the withdrawal on September 1, 2014, Perfect World ceased to be a
member of the Consortium.
About Perfect World Co., Ltd. (http://www.pwrd.com)
Perfect World Co., Ltd. (NASDAQ: PWRD) is a leading online game
developer and operator based in China. Perfect World
primarily develops online games based on proprietary game engines
and game development platforms. Perfect World's strong
technology and creative game design capabilities, combined with
extensive knowledge and experiences in the online game market,
enable it to frequently and promptly introduce popular games
designed to cater changing customer preferences and market
trends. Perfect World's current portfolio of self-developed
online games includes massively multiplayer online role playing
games ("MMORPGs"): "Perfect World," "Legend of Martial Arts," "Perfect World II," "Zhu Xian,"
"Chi Bi," "Pocketpet Journey West,"
"Battle of the Immortals," "Fantasy Zhu Xian," "Forsaken World,"
"Empire of the Immortals," "Return of the Condor Heroes," "Saint
Seiya Online," "Swordsman Online" and "Holy King;" an online casual
game: "Hot Dance Party;" and a number of web games and mobile
games. While a majority of the revenues are generated in
China, Perfect World operates its
games in North America,
Europe, Japan, Korea and Southeast Asia through its own
subsidiaries. Perfect World's games have also been licensed
to leading game operators in a number of countries and regions in
Asia, Latin America, and the Russian Federation and other Russian speaking
territories. Perfect World intends to continue to explore new
and innovative business models and is committed to maximizing
shareholder value over time.
Safe Harbor Statements
This press release contains forward-looking statements.
These statements constitute forward-looking statements under the
U.S. Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "confidence," "estimates" and similar statements.
Such statements involve certain risks and uncertainties that could
cause actual results to differ materially from those in the
forward-looking statements. Potential risks and uncertainties
include, but are not limited to, Perfect World's ability to develop
and operate new games that are commercially successful, the growth
of the online game market and the continuing market acceptance of
its games and in-game items in China and elsewhere, its ability to protect
intellectual property rights, its ability to respond to competitive
pressure, its ability to maintain an effective system of internal
control over financial reporting, changes of the regulatory
environment in China, and economic
slowdown in China and/or
elsewhere. Further information regarding these and other
risks is included in Perfect World's filings with the U.S.
Securities and Exchange Commission, including its annual report on
Form 20-F. Perfect World does not undertake any obligation to
update any forward-looking statement as a result of new
information, future events or otherwise, except as required under
applicable law.
For further information, please contact
Perfect World Co., Ltd.
Vivien Wang - Vice President, Capital Market &
Corporate Communications
Tel: +86-10-5780-5700
Fax: +86-10-5780-5713
Email: ir@pwrd.com
http://www.pwrd.com
Christensen Investor Relations
Patty Bruner
Tel: +1-480-614-3036
Fax: +1-480-614-3033
Email: pbruner@christensenir.com
Jung Chang
Tel: +852-2117-0861
Fax: +852-2117-0869
Email: jchang@christensenir.com
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SOURCE Perfect World Co., Ltd.