Everyone is to disclose the sale of 56 net $25 million to details

[TechWeb] reported on April 16th, Renren network in the annual report documents disclosed 56 subsidiaries (56.com) of selling value".


the fourth quarter of last year will be bought in 2011 for $80 million 56 network video sites were sold to the Sohu, because both parties have not announced the 56 net selling price "for the outside world for this transaction scale impression has always been stuck in the" insider trading price of $12 million 900 thousand.

Beijing time today evening, Renren in the annual report file 20-F (hereinafter referred to as the 20-F file) in the details of the transaction were disclosed.

everyone in the 20-F document said: "in October 28, 2014, the company, Qianjun Technology shareholders, Sohu subsidiary signed a share purchase agreement, under the agreement, the Sohu to $25 million acquisition of 100% stake in Qianjun Technology, which is $21 million 831 thousand as the company prior to the Qianjun Technology to provide loan repayment……"

Qianjun Technology is the 56 network operating entity, that is to say, the acquisition of Sohu 56, renren.com to paying a total of $25 million, higher than the previous 56 this rumor "sell $12 million 900 thousand net worth", but far less than the year 56 net price to buy everyone.

in addition, due to the $25 million, $21 million 831 thousand is owed as 56 net debt repayment (renren.com), which means that the 56 nets are in bondage when insolvent, Sohu and all 56 net net assets of $3 million 169 thousand.

according to Renren 20-F file, Renren net profit of $489 thousand on the sale of 56 transactions. (small peak)


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