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Fosun International: No guarantee provided to 188bet Live Casino，Nor did it participate in its capital restructuring investment

Author of this article: Zhihui 2019-09-27

As of June 30, 2019，Fosun International holds approximately 18% of 188bet Live Casino6% equity，Its book value is approximately 3.2.7 billion yuan。Therefore，188bet Live Casino’s application for compulsory liquidation will have limited financial impact on the group。

Noon, September 27，Fosun International Limited issued a statement regarding recent market rumors regarding the group’s investment in 188bet Live Casino Group plc (“188bet Live Casino”)。

Also after June 30, 2019，Fosun International has not made any further increase in its holdings in 188bet Live Casino。

Fosun International hereby clarifies，The Group does not provide any guarantee to 188bet Live Casino，It has not made any investment in the possible recapitalization of 188bet Live Casino。

Previously September 24th，Fosun Tourism and Culture Group issued an announcement，The Board noted market rumors regarding 188bet Live Casino Groupplc。

Guandian Real Estate New Media Check Announcement Display，Fosun Tourism released an announcement on July 12, 2019，Confirms that 188bet Live Casino’s proposal to recapitalize and demerge 188bet Live Casino is being considered。

Since July 2019，Our company、188bet Live Casino、188bet Live Casino Core Lending Bank、Noteholders and other stakeholders in ongoing discussions regarding possible participation in 188bet Live Casino’s proposed recapitalization。

On September 23, 2019，188bet Live Casino announced that these negotiations did not result in a final agreement between 188bet Live Casino and its stakeholders，And has applied to the High Court for compulsory liquidation。

Fosun 188bet Live Casino stated in the announcement: “The Company has not made any capital contribution based on these negotiations。”

*Source of this article: ViewDian Real Estate Network, original title: "Fosun International: It has not provided any guarantee to 188bet Live Casino nor participated in its capital restructuring investment》.

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