Leshi Internet Information and Technology Corp plans to acquire 100% of fellow LeEco unit Le Vision Pictures for Rmb9.8 billion $1.51 billion in a combined cash-and-shares deal that formally kills off previous plans for an independent listing.
Shenzhen-listed Leshi, which is controlled by LeEco's chairman Jia Yueting, said in a filing late Friday that it will issue 165 million shares at Rmb41.37 per share to purchase a 69.6% stake in Le Vision Pictures. The shares will be issued to 44 shareholders of the film production and distribution firm, including LeEco.
Leshi, ...
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