BONA Bona Film Grp. Limited ADS (MM)

BEIJING—Chinese Internet rivals Alibaba Group Holding Ltd. and Tencent Holdings Ltd. are once again teaming up in show business.

Arms of Alibaba and Tencent are joining the group bidding to take Chinese film studio and distributor Bona Film Group Ltd. private, the studio said Tuesday. Financial terms weren't disclosed.

Bona, which was a backer of this year's "The Martian" starring Matt Damon and the 2013 Wong Kar-wai film "The Grandmaster," trades on the Nasdaq Stock Market and has a market valuation of about $781 million.

The bidders are joining a group that offered to buy Bona's American depositary receipts in June at $13.70 each. The buyout group includes investment vehicle Uranus Connection Ltd. and an investor, Xie Zhanshan.

Bona's ADRs finished trading Monday at $12.77.

After the deal, Bona would be owned by the investors, Chairman and Chief Executive Dong Yu, China's Fosun International Ltd. and others.

The Internet giants have been increasing their stakes in Chinese entertainment companies in recent months, joining with other companies to buy $560 million of new shares of China's Huayi Brothers Media Corp. in August.

Lilian Lin

(END) Dow Jones Newswires

December 15, 2015 09:35 ET (14:35 GMT)

Bona Film Grp. Limited ADS (MM) (NASDAQ:BONA)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Bona Film Grp. Limited ADS (MM) (NASDAQ:BONA)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024