Lander E-sports to buy 19% shares in Chinese company

Lander Sports, formerly known as Lander Real Estate, announced yesterday that it has signed a framework partnership agreement with Zhengjiang Avalon, a Chinese investment company and Cai Guofeng, the shareholder who owns 43.5 % of Avalon shares.

The agreement will see the shareholder and his team become involved in the management of Lander E-sports, the newly-established subsidiary of Lander Sports. Meanwhile, the subsidiary has decided to purchase 19% of Avalon shares at ¥3.04 million yuan from Cai.

This move shows that Lander is actively expanding into the businesses of e-sport events, international training and e-sport platforms. According to the agreement, the sports company is aiming to organize e-sports contests covering 20 million participants and 100 million viewers by mid-2016.

As a report by Industrial Securities says, ever since the former real estate company shifted to the sports business, Lander has been taking steps to set up a sports ecosystem. 

Recently, its major moves include the establishment of a sports trading center, the acquirement of Asian Professional Basketball Management & Development Co. and the partnership with China Sports Publications Corp. 

Source: China Securities Journal

Proofread by John Devlin