Private equity firms Carlyle, Primavera and Fountainvest have pulled out of taking Nasdaq-listed Shanda Games private for $1.9 billion, the online gaming company said Wednesday.
Perfect World, a Chinese online gaming peer, also dropped out of the deal, according to the statement. It is selling all of its 30.3 million shares to an affiliate of Chinese broker Orient Securities for $104.6 million in cash.
Stepping up to take their place in the take-private deal are Chinese companies Orient Securities, Haitong Securities and Ningxia Zhongyin Cashmere International.
Mainland China-based Shanda Games did not give a reason for the change in consortium members. The news comes...