Shanda Interactive Enters Into A Share Purchase Agreement With Perfect World Co.

(RTTNews) - Shanda Games Ltd. (GAME) announced that Shanda Interactive Entertainment Limited, the controlling shareholder of Shanda Games, has entered into a share purchase agreement with Perfect World Co., Ltd. (PWRD), for Perfect World to acquire a total of 30.3 million class A ordinary shares of Shanda Games.

The company said pursuant to the share purchase agreement, Perfect World will acquire these shares from a wholly-owned subsidiary of Shanda Interactive for a total consideration of US$100 million in cash.

In addition, Perfect World has also entered into an adherence agreement to become a party to the consortium agreement dated as of January 27, 2014 between Shanda Interactive and Primavera Capital Fund I L.P., an affiliate of Primavera Capital Limited, and participate as a new member of the consortium in the proposed "going private" transaction with respect to Shanda Games.