China Digital TV Holding Co., LTD.NYSE
Mon, Nov. 7, 2:56 PM
- China Digital TV (NYSE:STV) says its subsidiary Golden Benefit Technology reached a deal on equity transfer with ChangxingBao LiRuiXin Technology (Bao Li) -- the LLC formed by a group including China Digital CEO Jianhua Zhu and Beijing Super TV President Dong Li.
- China Digital had hired an adviser in August as it considered the management/Super TV takeout.
- The deal has the buyers taking all the equity interest in Super TV currently held by Golden Benefit (about 90.09%), and paying China Digital 610M yuan (about $90M).
- The company's set a special shareholder meeting to consider the deal, following immediately after its annual general meeting, for Dec. 19 in Beijing.
Fri, Aug. 12, 1:01 PM
- China Digital TV (NYSE:STV) has hired Duff & Phelps as financial and legal counsel as it evaluates a takeover proposal by management and Super TV.
- The company received a preliminary nonbinding proposal last month from its CEO, Jianhua Zhu, and Dong Li, president of Super TV, to acquire all equity interest.
- The special committee of independent directors is working on that proposal -- but not, China Digital says today, on another proposal from its chairman and the manager of Beijin Dagong to acquire Dagong.