Brief: ATA To Acquire China-Based ACG

ATA Creativity Global

28/06/2019 13:06

June 28 (Reuters) - ATA Inc  ATAI.O :
    * ATA ANNOUNCES ENTRY INTO DEFINITIVE AGREEMENT TO ACQUIRE
ACG, A
LEADING CHINA-BASED SERVICE PROVIDER OF OVERSEAS ART EDUCATION
    * ATA INC - ATA WILL ISSUE 9.4 MILLION ORDINARY SHARES TO
ARTS
CONSULTING LIMITED
    * ATA INC - UPON CLOSING OF TRANSACTIONS UNDER DEFINITIVE
AGREEMENT, ATA WILL BECOME SOLE SHAREHOLDER OF ACGIGL
    * ATA INC - ARTSCL WILL BECOME A HOLDER OF 16.5% OF ATA'S
SHARES
CALCULATED ON A FULLY DILUTED BASIS.
    * ATA INC - ATA WILL NOW INDIRECTLY HOLD 69.04% EQUITY
INTEREST IN
ACG
    * ATA INC - HAS ENTERED INTO SEPARATE CONDITIONAL SHARE
PURCHASE
AGREEMENTS WITH CERTAIN OF ACG'S MINORITY SHAREHOLDERS
    * ATA INC - ATA SHALL IN AGGREGATE ACQUIRE REMAINING 30.96%
EQUITY
INTEREST IN ACG FROM MINORITY SHAREHOLDERS

Source text for Eikon:  ID:nGNX2qrfrl 
Further company coverage:  ATAI.O 

 ((Reuters.Briefs@thomsonreuters.com;))