Shanda privatization consortium regeneration becomes dominant prescription Bank of cashmere industry outSAN Lee Ho Ran from January 29, 2014 Shanda announced the receipt of the privatization offer, and now has about a year and a half. However, as of today, this Chinese Internet gaming companies listed on NASDAQ is still trading, the delay in the completion of the privatization. According to the privatization progress in April 2015, the latest big game, the company has signed a definitive agreement with CapitaLand privatization (Capitalhold Limited) and its wholly-owned subsidiary of Capitalcorp Limited. Under the agreement, CapitaLand will be ordinary shares of $ 3.55 per share in cash for Nike King the big game, the equivalent of $ 7.10 per American Depositary Share (ADS), a company valuation of about $ 1.9 billion. After completion of the transaction, CapitaLand will Ningxia Zhongyin Cashmere Co. and its affiliates, Yardley Shengda holding's company Orient Securities, Haitong Securities owned companies. Under the terms of the agreement, Capitalcorp Limited will be merged with the grand game together become a subsidiary of CapitaLand. Ago, A-share listed in the Bank of cashmere industry has been suspended for 10 months for asset operations. Information from public view, everything from a grand game backdoor Bank of cashmere industry is getting closer to return to A shares, but Sina science and technology exclusively learned from the sources, the Bank of cashmere industry, to the mouth of the ducks may have to fly. Bank of cashmere industry suddenly out recently, sources close to the big game privatization revealed to the SAN, Bank of cashmere industry has been out in the privatization of the big game. Currently there is no reason why the announcement, because the Bank of cashmere industry is working with Shanda game, hoping the latter to help them to find new capital target. According to these sources, the current Shanda privatization has been dominated by Orient Securities and Haitong Securities. Members CapitaLand recent disclosure, East , East Hongzhi is all the company Orient Securities, Ding Hao Hai Tong Securities International was all business. According to the previously disclosed ownership structure, Shanda is currently acting CEO Zhang Ying Feng held a grand game of 9% of the shares and 34.5 percent of voting rights held by the Bank of cashmere industry, Shanda 24% of the shares and 40.1% of the voting rights, Orient Securities and its subsidiaries hold 23.0% equity and 8.7% of voting rights, Haitong Securities and its affiliates hold Nike Air Yeezy about 20.0% of the shares and 7.6% of the voting rights. The right to vote from the public suggests that, if the privatization of Shanda replaced by Orient Securities and Haitong Securities dominant, only Zhang Ying Feng stood in the Orient Securities and Haitong Securities aside, be possible to achieve. Orient Securities and Haitong Securities had joined before the big game in the privatization program had buyer consortium, but the companies also have to drop out, but soon re-join the consortium. The source said that as Zhang Ying Feng Chen Tianqiao Shanda spokesmen, overwhelmed by the two companies to dominate the privatization of big game, it is easy to come to this point of view: Orient Securities and Haitong Securities to Mr. Chen out of the better conditions, let him in the case of privatization has signed a definitive agreement, resolutely made the decision to kick the Bank of cashmere industry Board. Privatization consortium Kids Nike Trainers changed six times the unannounced count change, which is already announced since privatization, Shanda 6th adjust its privatization consortium. January 27, 2014 to Shanda, Chunhua capital-led consortium to propose a non-binding Shanda privatization program, to be $ 6.9 per share price of ADSs to complete the privatization of big game. In April, the perfect world to join the privatization transaction, and 100 million yuan in cash to acquire the shares of some big game. While adding the transaction as well as FV Investment Holdings, CAP IV Engagement Limited. September 2014, Chunhua capital, perfect world, FV Investment Holdings and CAP IV Engagement Limited Quartet exit from the buyer consortium, replaced join Orient Securities, Haitong Securities and Bank of Ningxia Cashmere Industry tripartite. This is the Bank of cashmere industry first appeared in the big game privatization consortium. That time market rumors, Huatong century and the Bank of cashmere industry will jointly acquire a grand game. However, Bank of cashmere industry does not seem to want and others eating cake. November 2014, Shanda Shanda Games will be held all of the shares sold to Bank of Ningxia Cashmere Industry and Yili Shengda Holdings (Elion Shengda Air Jordan 13 Retro is Shanda CEO Zhang Ying Feng affiliates). Orient Securities, Haitong Securities out, Shanda target backdoor listing Bank of cashmere industry a rest, a time Shanda backdoor Bank of cashmere industry return to A shares seems a virtual certainty. But subsequent developments proved, but did not stop two brokerages. After only a month, Orient Securities, Haitong Securities Shanda privatization consortium took over again. March 2015, Shanda signed a definitive privatization agreement, the team still has a Bank of cashmere industry. Sources said that from the appearance point of view, everything is in good toward Bank of cashmere industry direction, but no one expected that the consortium has not announced the latest list, the Bank of cashmere industry has become irrelevant. The source said that the whole process, although Shanda has been to sell shares to the Bank of cashmere industry and Yili Shengda, but because Zhang Ying Feng Shengda control Elion owns 34.5% of the voting rights, so the two brokerages and silver The dispute between the incoming cashmere industry, the grand remains a critical balance. The Yili Shengda is also very simple to do, uphold the \u0026 ldquo; the highest bidder, \u0026 rdquo; this concept better, who on condition it take sides. The end result is that Orient Securities, Haitong Securities prevailed, Bank of cashmere industry was forced to withdraw from the privatization of the consortium. Cooked duck so fly. As a result, since August last year suspended a sieve Bank of cashmere industry, not only missed the A-share bull market, but also bear the resumption of trading after the reorganization of assets is not successful venture. Adverse impacts to the Trust Bank of cashmere industry sources revealed to the SAN, the reason why the two sides has yet to announce changes in the privatization of the consortium, because the Bank of cashmere industry is looking for new capital target to reduce failed to reach and cooperation with Shanda to losses. But the Air Jordan 7 Retro impact of Bank of cashmere industry failed to cooperate with Shanda to bring far more than that. There is a \u0026 ldquo; in the financial - grants the 28th equity investment capital trust plan \u0026 rdquo; has been on sale, according to fund-raising to invest in the program read: Shanda acquired 9% of Class B shares. The plan also showed that: Shanda privatization of delisting, after the lifting of the VIE structure, a listed company will be within the (preliminary for the Bank of cashmere industry) through targeted acquisition of the entire share capital Shanda additional shares. The size of the trust fund plan proposed for 720 million yuan, including 480 million yuan priority trust funds, sub-trust funds 240 million yuan; when it Air Jordan Fusion was founded to raise the minimum size of 340 million yuan, including 100 million yuan priority, secondary Trust 240 million yuan. Trust the period is estimated at 18 months. Expected return is divided into 9%, 9.5% and 10% of third gear. The product is said that there are three sources of repayment, including: the sale of shares of listed companies in the Bank of Nike Shoes cashmere industry; BOC Group repurchase; and the western (Yinchuan) to provide security guarantees to the Bank Group's repurchase, as well as the priority of principal and income Providing complement guarantee. Among them, the Bank of China Group repurchase commitments: As at June 1, 2015 the unfinished acquisition cost of the shares, except financial trust agreed to extend the offer period, otherwise financial trust for the partnership of the Bank of Canada bank loan financing interest, the transferee trust in the financial partnership share. In the current situation, the privatization of big game is destined to miss the Bank of cashmere industry, Bank of cashmere industry also failed earlier commitment to repurchase at June 1 to complete this capital. Due to the failure of Bank of cashmere industry capital operation is not disclosed, so how to compensate investors in financial trusts and how Bank of cashmere industry will deal with this part of the funds is still unknown. There is no doubt that the Bank of cashmere industry in trouble yet to come.