Kunlun completes delivery procedures and officially consolidates financial statement with StarMaker
On the evening of February 26, 2021, Kunlun announces that its wholly-owned subsidiary Kunlun Group Limited (Kunlun Group) plans to purchase Star Group Interactive Inc. (Star Group); shareholders hold 60.65% of equity, and the transaction price is considered to be about 1.394 billion yuan.
Once the transaction is completed, Kunlun will hold 60.65% of Star Group's common stock through Kunlun Group, and will hold 19.35% of Star Group's preferred stock through its holding subsidiary Opera Limited, and will hold a total of 80% of Star Group shares.
At the same time, Kunlun will also add a new business segment based on the existing four major businesses, including Opera, Xianlaihuyu, GameArk Games, the technology equity investment arm as well as Star Group.
After the completion of this transaction, Kunlun and the target company can make better use of data analysis, user insights, operation and management capabilities accumulated over the years, and better learn from each other's experience both in Chinese and overseas internet product development, and realize the synergistic effect of "game + social audio + content distribution" product integration, and seize further opportunities in global internet development.