Announced
Completed
Financials
Tags
Completed
online entertainment services
Entertainment
Private Equity
Minority
Single Bidder
Public
Friendly
China
Acquisition
Synopsis
FountainVest, an independent private equity firm in Asia, completed the acquisition of a minority stake in Maoyan Entertainment, a platform providing innovative, internet-empowered entertainment services in China, for $132m. "Starting from its initial business in online entertainment ticketing, Maoyan has grown into a leading integrated entertainment service platform with multiple drivers for growth. We are delighted to become a shareholder, with co-investment from the company's CEO Mr. Zheng. We endeavor to leverage our experience and sector resources to help the company further expand its business, achieve long-term development, and ultimately provide better entertainment experiences to Chinese consumers," George Chuang, FountainVest Co-President.
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