LeSports announced that their cooperation with Guoan was at an end. 9 Months ago LeSports and Guoan agreed that LeSports could own 50% shares of Guoan after LeSports pay 2 billion RMB.
It is said that the two sides couldn’t reach agreement on core terms and some said that LeSports could not finish the payment.
Subsequently, it is rumoured that Guoan has found new investors and will be jointly owned by the three companies in the future. One is CITIC (China International Trust and Investment corporation), the original shareholder. The other two are Ant Financial and Anbang Insurance Group. Ant Financial will hold 40% shares, becoming the first majority shareholder of Beijing Guoan, although this hasn’t yet been officially confirmed.
Proofread by Sean O Diobhilin