Status: Upcoming/New Filing
Acquirer: Shareco Group of America, Inc. (U.S.)/ Beijing Shareco Technologies Co., Ltd. (China)
Acquired: Global Eagle Entertainment, Inc. (U.S.)
Value: Approximately US$103 million
Industry: Multimedia Technology
HNA Group, Beijing Shareco Technologies and Bluefocus (Beijing) Investment Management are all limited companies organized under the laws of the People’s Republic of China. (See Global Eagle Form 8-K, Ex-2.1, Nov. 14, 2016, SEC Filing.) The agreement conditions the investment on receiving Committee on Foreign Investment in the United States (CFIUS) Approval. (See id., Section 4.06.) The investment is part of the parties intent to establish a joint venture “to provide inflight entertainment and connectivity in China and exclusively service aircraft operated by HNA airlines.” (Global Eagle Entertainment Press Release, Nov. 8, 2016.)
HNA Group has been involved with a potential CFIUS filing concerning another investment of Hilton Worldwide Holdings, Inc. (see our previous post here), and as the the largest stockholder of Tianjin Tianhai Investment Company Ltd., which recently received approval for its acquisition of U.S. logistics company Ingram Micro, Inc. We have been tracking the Tianjin Tianhai/Ingram Micro filing (see our previous post here).