The privatization of Youku potatoes started from March 15 and is expected to be completed in early April. Today (April 6th), China’s multi-screen cultural and entertainment leader, Unity Group (Youku Tudou) (NYSE: YOKU), announced that based on the merger plan announced on November 6, 2015, the Group and Alibaba Group have completed The merger transaction officially became a wholly-owned subsidiary of Alibaba.
According to the terms of the merger agreement, the price of this privatization transaction is US$27.6 per ADS (American Depositary Receipt). One Group also announced the application to stop its ADS transactions on the New York Stock Exchange.
Chairman of the Board of Directors and CEO of Group One Co., John Koo, said: “The formal completion of the privatization of Harmony Group is an important moment. China is entering a golden era of culture and entertainment, and a flexible capital environment will allow us to have more room for development. In order to promote the company's strategy faster, privatization is a new starting point for unity, and the linkage between Ali and Harmony has opened the world of e-commerce and cultural entertainment for the first time worldwide.This linkage is creating a brand-new pattern. It is the interconnection of users and income, the collaboration of big data and marketing, the interconnection of content and e-commerce, or the complement of OTT, both of which will enhance the value and vitality of the two ecosystems."
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