May 21, 2018 / 1:08 PM / 7 months ago

BRIEF-Baidu Enters Into Definitive Agreements To Divest Its Global DU Business

May 21 (Reuters) - Baidu Inc:

* BAIDU ENTERS INTO DEFINITIVE AGREEMENTS TO DIVEST ITS GLOBAL DU BUSINESS

* BAIDU INC - PURSUANT TO DEFINITIVE AGREEMENTS, BAIDU WILL DIVEST A MAJORITY EQUITY STAKE IN GLOBAL DU BUSINESS

* BAIDU INC - UPON COMPLETION OF TRANSACTION, GLOBAL DU BUSINESS IS EXPECTED TO BE DECONSOLIDATED FROM BAIDU’S CONSOLIDATED FINANCIAL STATEMENTS

* BAIDU INC - ON TRANSACTION COMPLETION, CO WILL OWN ABOUT 34% OF GLOBAL DU BUSINESS’S OUTSTANDING SHARES

* BAIDU INC - ENTERED INTO DEFINITIVE AGREEMENTS WITH CERTAIN INVESTORS RELATING TO DIVESTITURE OF ITS GLOBAL AD AND TOOLS BUSINESS Source text for Eikon: Further company coverage:

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