China’s Changyou Sells Subsidiaries For USD205 Million
Chinese Internet portal Sohu.com recently submitted a regulatory filing in the U.S. for its online gaming subsidiary Changyou.com to sell hree subsidiaries, including two overseas subsidiaries, to third-party buyers for USD205 million.
According to the file, Changyou signed decisive agreements in April 2015 to transfer a series of assets. Based on the agreements, Changyou will transfer the entire stake in Shenzhen 7Road Technology Co., Ltd. to a China-registered company; and it will transfer the entire stake in Changyou My Sdn. Bhd and Changyou.com (UK) Company Limited to a company registered in British Virgin Islands.
Changyou My Sdn. Bhd and Changyou.com (UK) Company Limited operate online game businesses in Malaysia and U.K., respectively.
The three transactions are evaluated at USD205 million and they are not closed yet. Sohu did not reveal the identities of the buyers.