TECHNODE - May 4 - Fosun International chairman and business magnate Guo Guangchang plans to purchase a majority stake in marriage and dating site Baihe.com for just under RMB 4B ($630M). Baihe.com's shareholders entered into an agreement with Yuanhong Investment to sell 869M shares at a price of RMB 4.6 ($0.72) per share. Guo controls 100% of Yuanhong, which will make him a controlling shareholder of Baihe.com when the deal goes through. There has been no indication as to when the purchase will be concluded. In Dec 2015 Baihe acquired rival dating and marriage platform Jiayuan for $250M. The company then reorganized to become the Baihe Jiayaun Network Group in September 2017.
This post also appears on OnlinePersonalsWatch.