[ET Net News Agency, 29 December 2020] CA Cultural Technology Group Limited (01566)
said its subsidiary China Animation Holding (BVI) Limited has agreed to buy 51% of the
equity interest in Lion Run Holdings Limited (the target company) for a consideration of
HK$44.1 million.
Upon completion, the target company, which owns the IP rights, representing the
utilization rights for four animation productions in the PRC, would be owned as to 51% by
the purchaser (with 3% of the entire issued share capital in the target company held for
and on behalf of the vendor).
The target company is principally engaged in the development of licensing business,
including the IP rights and businesses in relation to animation entertainment production.
(RC)