Pantaflix AG - M&A Activity 2017 | FinancialReports.eu

News Details

Ad-hoc | 15 May 2017 11:30

Bruno Wu’s Sun Seven Stars Media and PANTAFLIX sign strategic partnership for implementing a global VoD-system

PANTALEON Entertainment AG / Key word(s): Miscellaneous

15-May-2017 / 11:30 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

**Ad-hoc disclosure pursuant to Art. 17 of the Market Abuse Regulation

– PANTALEON Entertainment AG subsidiary PANTAFLIX signs contract in China for a joint venture with Bruno Wu’s Sun Seven Stars Media Group –**

Shanghai / Hong Kong / New York / Berlin, 15 May 2017 – The Executive Board of PANTALEON Entertainment AG (ISIN DE000A12UPJ7, WKN A12UPJ) signed a contract with the Chinese media entrepreneur Bruno Wu in Shanghai today for the formation of a joint venture with the Sun Seven Stars Media Group. The goal is to establish a globally positioned joint venture in the video-on-demand sector. Besides the wholly-owned PANTALEON Entertainment AG subsidiary PANTAFLIX GmbH, which will hold 50% of the shares, the other parties are the US-based Wecast Network Inc., and the Hong Kong-based financial investor Redrock Capital Limited, which will split the remaining 50% of the shares between them and are attributable to Bruno Wu’s corporate group. PANTAFLIX intends to provide its technological platform to the joint venture, while the partners will contribute content and access to relevant markets. In order to become effective, the agreement is subject to certification by a notary, which is expected to take place in the near future.

15-May-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

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Language:	English
Company:	PANTALEON Entertainment AG
	Katharinenstr. 4
	61476 Kronberg
	Germany
Phone:	06173 – 394 50 95
Fax:	06173 – 394 50 97
E-mail:	[email protected]
Internet:	www.pantaleonentertainment.com
ISIN:	DE000A12UPJ7
WKN:	A12UPJ
Listed:	Regulated Unofficial Market in Berlin, Stuttgart, Tradegate Exchange; Open Market (Scale) in Frankfurt