Colorland Animation Ltd. has entered into a conditional sale and purchase agreement to acquire Singapore-based Evanton Pte. Ltd., which manufactures pharmaceuticals for animals, for $158.5 million in shares, reports BAYSTREET.CA. Colorland will issue nearly 2.2 billion shares to the vendors. The transaction is pending upon all necessary approvals and that Colorland company remains on the Singapore stock exchange.
This will allow Colorland Animation to branch out into a new business, animal pharmaceuticals.
The financial advisors in the deal include Stirling Coleman Capital Ltd for Colorland Animation Ltd.
Colorland Animation (www.colorland-animation.com) was established in 1991 to provide animation production services to international producers. The main studio, which is fully equipped with digital production facilities for 2D and 3D animation, is located in Shenzhen, China. The company also has a production office in Shanghai and a liaison office in Hong Kong.