Fosun International Limited entered into asset and equity transfer agreement to acquire Five Subsidiaries of Shanghai Foyo Culture and Entertainment Co., Ltd. for CNY 80 million.

Fosun International Limited (SEHK:656) entered into asset and equity transfer agreement to acquire Five Subsidiaries of Shanghai Foyo Culture and Entertainment Co., Ltd. for CNY 80 million on September 3, 2021. The transaction includes acquisition of all the assets including intellectual property rights, operating assets, contracts and personnel of Shanghai Languifu Information Technology Co., Ltd., Shanghai Maibu Information Technology Co., Ltd., Shanghai Mengmeng Information Technology Co., Ltd., Shanghai Quanzhudong Information Technology Co., Ltd. and Shanghai Yichuan Information Technology Co., Ltd. The consideration shall be paid in cash within 10 business days following the satisfaction of all conditions precedent. It will be satisfied by self-funded resources of the Group.

In a related transaction, Fosun International agreed to acquire 100% equity interest in EZ Games and the 80% equity interest in Restar, each held by HD Games. As of June 30, 2021, all the target companies had total assets of CNY 46 million and net liabilities of 4 million.