China-based internet company Sohu.com Ltd said on Friday it would take its greater part possessed backup Changyou.com private in an all-money bargain that qualities the organization at about $579 million.
Changyou, which has an arrangement of versatile and PC games including Tian Long Ba Bu, started as a specialty unit of Sohu.com in 2003 and was later isolated.
Sohu said it expects to subsidize the arrangement fundamentally through obligation.
Under the understanding, Sohu will pay $10.8 for each Changyou American Depositary Share (ADS), which speaks to a premium of 82.4% to the end cost of Changyou ADS on Sept. 6, the last exchanging day preceding Sohu’s proposition to take the organization private.
Sohu, which gives various news and data benefits on versatile stages including a news application and versatile news entrance m.sohu.com, hopes to settle the negotiations in the second quarter of this current year.
China Renaissance is filling in as money related counselor to the Sohu Group for the arrangement.