Zengxiang Lu and Shizhou Shen, Manager of Beijng Dagong Technology Co., Ltd., cancelled the acquisition of 80% stake in Beijng Dagong Technology Co., Ltd. from China Digital TV Holding Co., Ltd..
July 14, 2017
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Zengxiang Lu and Shizhou Shen, Manager of Beijng Dagong Technology Co., Ltd., made a non-binding proposal to acquire 80% stake in Beijng Dagong Technology Co., Ltd. from China Digital TV Holding Co., Ltd. (NYSE:STV) for enterprise value of CNY 20 million on July 15, 2016. In a related transaction, Jianhua Zhu and Dong Li, President of Beijing Super TV Co., Ltd., made a non-binding proposal to acquire 90.09% stake in Beijing Shibo Digital TV Technology Co. Ltd. from China Digital TV Holding Co., Ltd. (NYSE:STV) for enterprise value of CNY 600 million on July 15, 2016. The Board of China Digital TV Holding Co., Ltd. has formed a special committee comprised of three independent directors, Songzuo Xiang, Michael Elyakim and Jianyue Pan, to evaluate non-binding proposals. Duff & Phelps Corporation acted as financial advisor and Morrison & Foerster LLP acted as legal advisor for China Digital TV Holding Co., Ltd.
Zengxiang Lu and Shizhou Shen, Manager of Beijng Dagong Technology Co., Ltd., cancelled the acquisition of 80% stake in Beijng Dagong Technology Co., Ltd. from China Digital TV Holding Co., Ltd. (NYSE:STV) on July 15, 2017.
China Digital TV Holding Co Ltd is a holding company mainly engaged in the provision of cloud platforms. Its cloud platforms provide cloud computing technology-based digital video delivery solutions to television and telecommunication network operators. The Company provides cloud gaming, cloud education, cloud virtual reality (VR), operational strategies and customer service systems through its cloud platforms. The Company is also engaged in the provision of products and services related to the VR technology, and technical support and services. The Company mainly conducts its businesses in the domestic market.
Zengxiang Lu and Shizhou Shen, Manager of Beijng Dagong Technology Co., Ltd., cancelled the acquisition of 80% stake in Beijng Dagong Technology Co., Ltd. from China Digital TV Holding Co., Ltd..
CHINA DIGITAL TV HOLDING CO., LTD. 
