Perfect World Entertainment has announced that it is going private. In an announcement posted to investors earlier this week, Perfect World will merge with parent company Perfect Peony Holding Company Limited, a limited liability corporation located in the Cayman Islands and owned by Mr. Michael Yufeng Chi. The acquisition will take place to the tune of $900 million bankrolled by China Merchants Bank and Wing Lung Bank.
Shareholders will be bought out at the tune of $4.04 for ordinary shares, $20.20 for American Depository Shares, and no payment for shares held by the parent company or any of its subsidiaries. The price marks a 28% increase over PWE’s closing price at the date that privatization was originally announced (December 31, 2014).
All of this, of course, is still subject to a majority vote at the next shareholder meeting.