China Digital TV sold
November 8, 2016
By Chris Forrester
Conditional access systems provider China Digital TV has been bought via a management buyout for $90 million (€81.4m).
The purchase has been wrapped via an equity transfer between China Digital with ChangxingBao LiRuiXin Technology (Bao Li), a LLC formed by a group including China Digital CEO Jianhua Zhu and Beijing Super TV President Dong Li.
China Digital appointed advisers back in August to conduct a review of a potential sale.
The deal has the buyers taking all the equity interest in Super TV currently held by Golden Benefit (about 90.09 per cent), and paying China Digital 610 million yuan (about $90 million).
China Digital will hold a special shareholder meeting on December 19th to approve the move.