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Baidu | 6-K: Termination of the Share Purchase Agreement with JOYY Inc.

百度 | 6-K:终止与JOYY Inc.的股份购买协议

SEC announcement ·  01/02 00:00
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Baidu, Inc. has officially terminated its Share Purchase Agreement with JOYY Inc. as of January 1, 2024. The agreement, initially signed on November 16, 2020, involved the acquisition of JOYY's domestic video-based entertainment live streaming business in China by Baidu's affiliate, Moon SPV Limited. The termination was executed by Moon SPV Limited, an affiliate of Baidu (Hong Kong) Limited, after the deal failed to meet the necessary closing conditions by the long stop date of December 31, 2023. These conditions included obtaining regulatory approvals from governmental authorities. Baidu, Inc. is now in discussions with JOYY Inc. to determine the future course of action following the termination of the agreement.
Baidu, Inc. has officially terminated its Share Purchase Agreement with JOYY Inc. as of January 1, 2024. The agreement, initially signed on November 16, 2020, involved the acquisition of JOYY's domestic video-based entertainment live streaming business in China by Baidu's affiliate, Moon SPV Limited. The termination was executed by Moon SPV Limited, an affiliate of Baidu (Hong Kong) Limited, after the deal failed to meet the necessary closing conditions by the long stop date of December 31, 2023. These conditions included obtaining regulatory approvals from governmental authorities. Baidu, Inc. is now in discussions with JOYY Inc. to determine the future course of action following the termination of the agreement.
百度公司已于2024年1月1日正式终止与JOYY Inc.的股票购买协议。该协议最初于2020年11月16日签署,涉及百度的子公司Moon SPV Limited收购JOYY在中国的国内视频娱乐直播业务。终止协议由百度(香港)有限公司的子公司Moon SPV Limited执行,此前该交易未能在2023年12月31日的最后截止日期之前满足必要的成交条件。这些条件包括获得政府当局的监管批准。百度公司目前正在与JOYY Inc.进行讨论,以确定协议终止后的未来行动方针。
百度公司已于2024年1月1日正式终止与JOYY Inc.的股票购买协议。该协议最初于2020年11月16日签署,涉及百度的子公司Moon SPV Limited收购JOYY在中国的国内视频娱乐直播业务。终止协议由百度(香港)有限公司的子公司Moon SPV Limited执行,此前该交易未能在2023年12月31日的最后截止日期之前满足必要的成交条件。这些条件包括获得政府当局的监管批准。百度公司目前正在与JOYY Inc.进行讨论,以确定协议终止后的未来行动方针。
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