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BRIEF-Phoenix New Media Says Expected To Sell Total Of 29.19% Of Total Outstanding Shares Of Particle To Proposed Buyers For Ab

路透社 ·  Jan 20, 2020 20:40
Jan 20 (Reuters) - Phoenix New Media Ltd :
   * PHOENIX NEW MEDIA ANNOUNCES FURTHER UPDATE ON PROPOSED SALE OF INVESTMENT IN YIDIAN
   * PHOENIX NEW MEDIA - ENTERED AGREEMENT WITH LONG DE ENTITIES TO SETTLE DISPUTE REGARDING ENTITIES' CO-SALE RIGHTS UNDER SHAREHOLDERS AGREEMENT OF PARTICLE INC
   * PHOENIX NEW MEDIA - LONG DE ENTITIES TO SELL ABOUT 9.8 MILLION PREFERRED SHARES OF PARTICLE TO PROPOSED BUYERS FOR ABOUT $20.7 MILLION IN CASH
   * PHOENIX NEW MEDIA - EXPECTED TO SELL TOTAL OF 29.19% OF TOTAL OUTSTANDING SHARES OF PARTICLE TO PROPOSED BUYERS FOR ABOUT $427.3 MILLION IN CASH
   * PHOENIX NEW MEDIA - COMPLETED DELIVERY OF PARTICLE SHARES TO PROPOSED BUYERS & GOT $200 MILLION FOR SUCH SHARES & FURTHER DEPOSIT OF US$50 MILLION
   * PHOENIX NEW MEDIA LTD - THERE ARE STILL UNCERTAINTIES AS TO COMPLETION OF REMAINING PART OF PROPOSED TRANSACTION

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