Double Group to acquire DeSports at RMB820 million

Wuhan Double Co.,Ltd，or Double Group, a listed investment company, has reportedly announced the plan at Shanghai Exchange to fully acquire a sports marketing company named DeSports(Double-Edged Sports) at RMB820m.

Under the plan Double Group will offer the shareholders of DeSports both shares which are worth RMB8.09 million and RMB11m of cash.

Double Group aims to explore the sports industry and moreover to blend the sports entity with its media sector to strategically build a major platform which covers sports and culture.

DeSports, as Double Group revealed, would take advantage of their resources and platform to grow in sports tourism, sports videos and sports brokerage.

Double Group covers a range of business sectors, such as phosphate ores, real estate, education and film and television.

DeSports is a Jiangsu-based sports marketing company which has lately been linked with the takeover of La Liga side Malaga FC by Chinese investor.A