Rongxin Culture's wholly-owned subsidiary plans to sell 25% stake in CDP

每日经济新闻··USCN·Read original
2▲1 ▼0Impact / 5
Summary · why it matters

Rongxin Culture announced on September 29 that its wholly-owned subsidiary Rongxin International plans to sell its 25% stake in the U.S.-based Cottage Door Press, LLC. After the transaction, the company will no longer hold any CDP equity. Scholastic Inc. plans to acquire all of CDP's equity at a base consideration of 71 million U.S. dollars, with Rongxin International's 25% stake being part of this overall acquisition.

Impact on assets 1

Communication Services▲
Scholastic Corporation
SCHL
▲ PositiveCapitalrelevance

Scholastic plans to acquire all of CDP's equity for a base consideration of $71 million, an M&A move.

Off-coverage companies 2

Cottage Door Pressi
Private± MixedCapitalrelevance

CDP is the acquisition target, with Scholastic set to buy all its equity for $71 million base consideration.

Cassa Depositi e Prestiti S.p.A.i
Private± Mixedrelevance