Brief: Cheetah Mobile To Buy Controlling Stake In Beijing Orionstar

Cheetah Mobile

04/12/2023 14:26

Dec 4 (Reuters) - Cheetah Mobile  CMCM.N :
    * CHEETAH MOBILE ANNOUNCES ACQUISITION OF CONTROLLING STAKE
IN
BEIJING ORIONSTAR
    * CHEETAH MOBILE INC: VIA UNIT ACQUIRED AGGREGATE OF 35.17%
EQUITY
INTEREST OF BEIJING ORIONSTAR TECHNOLOGY
    * CHEETAH MOBILE - IN CONNECTION WITH TRANSACTION, PAID
AGGREGATE
CASH CONSIDERATION OF ABOUT US$37.6 MILLION TO SELLING
SHAREHOLDERS OF BEIJING ORIONSTAR
    * CHEETAH MOBILE INC - COMPANY PREVIOUSLY HELD A 37.74%
EQUITY
INTEREST IN BEIJING ORIONSTAR PRIOR TO COMPLETION OF TRANSACTION
    * CHEETAH MOBILE INC - WILL CONSOLIDATE FINANCIAL RESULTS OF
BEIJING ORIONSTAR INTO ITS CONSOLIDATED FINANCIAL STATEMENTS
STARTING IN DECEMBER 2023
    * CHEETAH MOBILE INC - UPON COMPLETION OF TRANSACTION, SHENG
FU
CEASED TO BE A DIRECT SHAREHOLDER OF BEIJING ORIONSTAR
    * CHEETAH MOBILE INC -  UPON COMPLETION OF TRANSACTION,
COMPANY'S
EQUITY INTEREST IN BEIJING ORIONSTAR INCREASED TO 72.91%

Source text for Eikon:  ID:nPn6l66c3a 
Further company coverage:  CMCM.N 

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