Star Plus Legend (6683), founded by Taiwanese pop star Jay Chou's mother, plans to acquire a 1.17 percent stake in the operator of the National Stadium in Beijing for 24.3 million yuan (HK$26.6 million).
Its wholly-owned subsidiary has entered into an equity acquisition agreement with Beijing Jinzhou Sunshine Consulting and Deloitte Touche Tohmatsu Certified Public Accountants Beijing Branch, according to a filing on Tuesday.
The target company is responsible for the construction and operation of the stadium, also known as Bird's Nest.
Star Plus Legend said the acquisition of the “rare landmark asset” is in line with its strategic development direction, and through which, the firm will be able to collaborate more extensively with the stadium operator in respect of the integration of large-scale cultural, sports, and entertainment events with IP resources, fully leveraging the strengths of both parties.
This will further enhance the group’s capabilities in IP value monetization and industry synergy, creating positive benefits for its long-term development, the company said.
