Cheetah Mobile Acquires Aggregate Of Additional 35.17% Equity Interest Of Beijing Orionstar Technology; Paid An Aggregate Cash Consideration Of $37.6M To The Selling Shareholders
Portfolio Pulse from Benzinga Newsdesk
Cheetah Mobile has acquired an additional 35.17% equity interest in Beijing Orionstar Technology, bringing its total stake to approximately 72.91%. The company paid $37.6 million in cash to the selling shareholders and will consolidate Beijing Orionstar's financial results into its statements starting December 2023.
December 04, 2023 | 2:01 pm
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Cheetah Mobile's acquisition of a further 35.17% stake in Beijing Orionstar for $37.6M will lead to consolidation of financials, potentially affecting earnings positively.
The acquisition increases Cheetah Mobile's stake in Beijing Orionstar significantly, indicating a strategic move to gain more control and benefit from its operations. The consolidation of financial results is likely to have a positive impact on Cheetah Mobile's earnings reports starting December 2023, which could be viewed favorably by investors in the short term. The payment of $37.6 million in cash also suggests a strong belief in the value of Beijing Orionstar, which could further instill investor confidence.
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