Dec 30, 2022 12:53 PM (GMT+8) · EqualOcean
Weibo Hong Kong Limited, a subsidiary of the Weibo Corporation, signed agreements with Sina Hong Kong Limited for 100% of the equity interests of Sina Com Technology (China). Upon completion of the acquisition, Weibo Hong Kong Limited will own all equity interests of Sina Technology (China) Limited and of the owner of Sina Plaza in Beijing, China, with a total consideration of approximately CNY 1.5 billion (USD 215.57 million). Weibo emphasized that "Sina Group holds numerous subsidiaries and a corresponding variety of businesses, and this sale does not involve the transfer of major businesses between Weibo and Sina, nor any change in management roles between the two." Sina Weibo, owned by Sina Corporation which was delisted from Nasdaq and went private in 2021, is the Chinese Facebook.