Alibaba Group Holding Ltd acquired Alibaba Pictures Group Limited (formerly ChinaVision Media Group) for $800 million, a transaction completed in June 2014, structured as cash of HK$6,244 million (RMB4,955 million), HK$0.50 per share.
Alibaba Pictures Group Limited (formerly ChinaVision Media Group) operates in Media & entertainment, is based in China / Hong Kong. ChinaVision Media Group, a Hong Kong-listed producer of movies and television programs, was acquired for an approximately 60% stake in June 2014 and rebranded Alibaba Pictures. The purchase price was HK$6,244 million (RMB4,955 million), or HK$0.50 per share.
Establish a content-production platform to complement Alibaba's digital-media ambitions.
The total purchase price consisted of cash consideration of HK$6,244 million (RMB4,955 million) which represented a price of HK$0.50 per share, for an approximately 60% equity interest.Alibaba Group FY2015 Form 20-F, business combinations note
Advisory firms were not disclosed for this transaction.