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.

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 share to purchase a 69.6% stake in Le Vision Pictures. The shares will be issued to 44 shareholders of the film production and distribution firm, including LeEco.

Leshi, ...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222