Shanghai-based Giant Interactive Group Inc., one of China’s leading online game developers and operators, has agreed to be taken private by its parent, Giant Investment Ltd., National Business Daily reported Tuesday. Giant Investment and Giant Merger Ltd., a wholly owned subsidiary, will pay US$3 billion to buy all outstanding shares of Giant Interactive. After the deal, expected to be completed in the second half, Giant Interactive will be delisted from the New York Stock Exchange, the report said. The privatization will boost plans by Giant Investment chairman Shi Yuzhu to expand into the mobile gaming business, some analysts were quoted as saying.
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