Shanda to sell main businesses to Alibaba - BrightWire

|About: Alibaba Group Holding L... (BABA)|By:, SA News Editor

Alibaba (ABABA) is planning to buy Shanda Interactive and Shanda Games' (GAME) main business for at least $3.2B, according to a source inside Shanda.

The acquisition may include Shanda literature, Shanda games and Ku6, which was acquired by Shanda Interactive in 2009.

In January, Shanda Games received an offer to take the business private that valued it at $1.9B from its controlling shareholder Shanda Interactive Entertainment and an affiliate of Primavera Capital.

Shanda Interactive was taken private by founder Chen Tianqiao and Chen's family in 2011.

Source: BrightWire