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Announced

Run Liang Tai Management to acquire a 32% stake in Yidian Zixun from Phoenix New Media for $350m.

Financials

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Transaction Value£268m
Consideration TypeCash
Capital Owned-
Capital Bid For32%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Minority

Pending

China

information application

Online and Social Platforms

Acquisition

Private

Single Bidder

Friendly

Synopsis

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Run Liang Tai Management to acquire a 32% stake in Yidian Zixun, a rapidly-growing personalized news and lifestyle information app, from Phoenix New Media, a global new media company, for $350m. "We are moving one more step closer towards realizing the return on our investment in Yidian. We believe that selling partial ownership of Yidian to a strategic buyer will help maximize Yidian's growth potential as well as fuel our own growth in the long-run," Shuang Liu, Phoenix New Media Chief Executive Officer.

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