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Huayi Brothers buys in GDC Tech

2012-11-21 13:39:41        Chinese Films

Wang Zhongjun, the founder of Huayi Brothers Media. [Photo: baidu]

Huayi Brothers Media announced on Tuesday it will spend US$20.9 million buying about a 9 percent share of GDC Technology Limited from CAG Digital Investment Holdings Limited.

The acquisition will be conducted by awholly owned subsidiary of Huayi Brothers Media - Huayi Brothers International Investment Limited with its own funds.

According to the "Share Purchase Agreement" signed on Nov. 19, Huayi Brothers International Investment will purchase 23,252,955 shares of GDC Tech with US$20,916,000 which accounts for about 9 percent of the total issued share capital.

After the acquisition, one board member of Huayi Brothers International Investment will join in the board of GDC tech.

GDC Tech is one of the world's leading global solution providers for digital cinema, media delivery and display markets. While Huayi Brothers Media is a film producer and record label founded in China in 1994.

Source: China.org.cn

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