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Century Huatong Buys 7Cool Held by Zeus Interactive

January 29, 2014

DALIAN , January 29 , SinoCast -- Dalian Kemian Wood Industry Co., Ltd. (SZSE: 002354) revealed that Zeus Interactive planned to use a 10% stake held in 7Cool to participate in private placement kicked off by Zhejiang Century Huatong Automotive Part Co., Ltd. (SZSE: 002602). Century Huatong planned to purchase the 100% stake in 7Cool through share placement and cash payment. The acquisition target is estimated to be worth CNY 858 million and will be purchased for CNY 850 million . Zeus Interactive spent CNY 40 million in acquiring the 10% stake held in 7Cool, hence, will get some investment proceeds. Kemian Wood harvested audited net profit attributable to parent of CNY 11 million in 2013.

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Source: Sinocast Internet, Media & Online Services Beat (China)

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