LeEco unit Leshi to buy Le Vision Pictures

The $1.5 billion cash-and-share deal is part of LeEco's plan for a fully-connected ecosystem of content and formally ends any prospect of a separate Le Vision Pictures IPO.

LeEco unit Leshi to buy Le Vision Pictures

Leshi Internet Information and Technology Corp plans to acquire 100% of fellow LeEco unit Le Vision Pictures for Rmb9.8 billion $1.51 billion in a combined cash-and-shares deal that formally kills off previous plans for an independent listing. 

Shenzhen-listed Leshi, which is controlled by LeEco's chairman Jia Yueting, said in a filing late Friday that it will issue 165 million shares at Rmb41.37 per...

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