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18/01/2021 11:04

China Lit (00772) to sell shares of Lanren to Tencent unit

[ET Net News Agency, 18 January 2021] China Literature Limited (00772) said its
subsidiary Tianjin Yuewen and the other vendors have agreed to sell 39.8821% and 60.1179%
of the equity interest of the target, respectively, and TME Subsidiary (a subsidiary of
Tencent) has conditionally agreed to acquire 100% equity interest of the target at the
aggregate consideration of RMB2.7 billion, of which RMB1.077 billion is payable to Tianjin
Yuewen in cash.
The target is Shenzhen Lanren Online Technology Co., Ltd. It is principally engaged in
the business of production, distribution and online broadcasting of podcasts, audiobooks
and other interactive audio entertainment formats. (RC)

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