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Perfect World earmarks $100 million in cash to purchase shares of Shanda Interactive

Perfect World Entertainment, the Chinese developer and publisher of online role-playing games like Neverwinter and Star Trek Online, intends to purchase 30,326,005 shares of Shanda Interactive, a fellow Chinese game developer and publisher.

Shanda announced the $100 million purchase agreement today, which it expects to become official in 30 days, "subject to the satisfaction of customary closing conditions."

Perfect World also entered into an "adherence agreement" between Shanda Interactive and Primavera Capital, dated Jan. 27, 2014. According to the proposal, which Perfect World characterizes as a "only a preliminary indication of interest," the consortium would purchase Shanda Games with a combination of equity capital and third-party debt.

Shanda Games operates a portfolio of more than 70 games that span from casual titles to massively multiplayer online role-playing games for mobile and web platforms.