China’s Youku.com Acquires Trade Lead For CNY112.9 Million
According to a 20-F form recently submitted to the U.S. Securities and Exchange commission by the Chinese video website Youku.com, the company has completed the acquisition of a 95% stake in the overseas copyright service provider Trade Lead for CNY112.9 million.
Meanwhile, Youku.com gained the holding rights to Zhejiang Dongyang Tianshi Cultural Broadcasting Company via the transaction.
Youku.com previously owned a 5% stake in Trade Lead and the transaction will make Trade Lead a fully-owned subsidiary of Youku.com. Prior to this acquisition, the major shareholder of Trade Lead was Chengwei Capital, which is also a shareholder of Youku.com.
Youku.com invested CNY112.9 million in this acquisition, including CNY78.9 million in cash and 6,202,179 ordinary shares.
Public files showed that Zhejiang Dongyang Tianshi was registered in 2009 with registered capital of CNY500,000. Founded by Shi Zhong, the company is mainly engaged in advertising agency services, movie and TV programs production, and cultural information consulting services.