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Magnum Bhd announces striking-off dormant subsidiaries

Tuesday, 16 Dec 2014 07:00pm EST

Magnum Bhd:Says Definite Command Sdn Bhd (DCSB) and MPIB Nominees (Tempatan) Sdn Bhd (MNTSB), two of Magnum's wholly-owned subsidiaries, it was resolved that an application be made to Companies Commission of Malaysia (CCM) to strike-off name from register.Principal activity of DCSB and MNTSB is dormant (since inception).Both DCSB and MNTSB have no intention to commence business or operation in future.The proposed deregistration will not have any material impact or effect on the business operations, earnings and net assets of Magnum and its Group for the financial year ending Dec. 31.

Churchill Downs Inc completes acquisition of Big Fish Games

Tuesday, 16 Dec 2014 04:30pm EST

Churchill Downs Inc:Completed previously announced acquisition of Big Fish Games, Inc. (Big Fish), producers and distributors of mobile and online games.Transaction includes upfront purchase price of $485 million comprised of about $16 mln in CDI stock, up-front cash of $384 mln and $85 mln in cash to be paid over three years.Purchase price remains subject to working capital and other customary post-closing adjustments.Additional earn-out payment of up to $350 mln may be paid in cash based on achieving EBITDA growth in 2015.Goldman Sachs acted as financial advisor and Sidley Austin LLP acted as legal advisor to CDI.JPMorgan acted as lead on financing of this transaction.Qatalyst Partners LP acted as financial advisor and Perkins Coie LLP acted as legal advisor to Big Fish on this transaction.

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