games

Billion Dollar Buyout of Chinese Gaming Company

by

November 28, 2013

This week’s deal of the week is a PE-backed take private of Giant Interactive at USD 2.9 billion, based on news from Reuters.

It is not the biggest buyout of the week, the ITW industrial packaging unit at USD 3 billion is the largest, but this one is interesting because it has the company’s chairman, and former CEO, Shi Yuzhu leading a consortium along with Baring Private Equity Asia to take the NY-listed Chinese computer gaming group private.

The 51 year old Shi Yuzhu is one of China’s wealthiest self-made men, according to Forbes. He is an avid gamer himself, according to China Inc, whose skills in marketing and technology development are often mentioned in media profiles.

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