Chinese takeover firm Hony Capital is in advanced talks to join Baring Private Equity Asia consortium's $2.8 billion bid for online gaming company Giant Interactive Group Inc, two people with knowledge of the matter told Reuters. Hony Capital, a private equity arm of Lenovo Group Ltd , is in discussions to invest in an equity tranche of up to $500 million to partly fund the acquisition, the people added.The buyout consortium comprising Giant's chairman Shi Yuzhu and Baring Private Equity needs around $1.5 billion to purchase the 52.8 percent of Giant they do not already own. The consortium is also raising an underwritten loan to finance the buyout, Thomson Reuters publication Basis Point reported on Wednesday.An external spokesman for Baring declined to comment, as did a Giant Interactive spokesman and Hony spokeswoman. Sources declined to be identified as the discussions are private.
Giant Interactive Group Inc. (Giant Interactive) is an online game developer and operator in China. Shares of GA fell by 0.09% or $-0.01/share to $11.13. In the past year, the shares have traded as low as $5.75 and as high as $11.47. On average, 1750830 shares of GA exchange hands on a given day and today's volume is recorded at 562446.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 1.19% or $0.43/share to $36.60. In the past year, the shares have traded as low as $29.33 and as high as $38.73. On average, 649003 shares of TRI exchange hands on a given day and today's volume is recorded at 978796.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.6% or $0.24/share to $40.22. In the past year, the shares have traded as low as $29.40 and as high as $42.10. On average, 853422 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 1917249.
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