If you've been following development on Eligium
, you're probably at least passingly familiar with the name Shanda Games
. You'd be more familiar with it in China, since the company also operates a variety of games from other markets, including Aion
, and Dungeons & Dragons Online
. And after having a record-breaking quarter, the company is moving in the opposite direction of what you might expect from a successful company: It's going private
. The requisite stocks were purchased by a single family, so the company moving out of the public market.
All shares will be jointly purchased by a parent company headed by Shanda's CEO, Shanda's COO (the CEO's son), and the company director (the CEO's wife). A $180 million loan was taken out to ensure that the stocks could be traded, with the purchasers buying shares at a higher price to help ensure the transfer. The board of directors has already approved this move, which means that it should go through without a hitch before the first quarter of 2012.