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GUANGZHOU, China, Feb. 26, 2021 /PRNewswire/ HUYA Inc. (NYSE: HUYA) ( Huya or the Company ), a leading game live streaming platform in China, today announced that Mr. Cheng Yun Ming Matthew has been appointed by Linen Investment Limited, a wholly-owned subsidiary of Tencent Holdings Limited ( Tencent ), as a successor director to serve on Huya s board of directors (the Board ), replacing Mr. Zhi Cheng, effective February 25, 2021. Mr. Zhi Cheng no longer serves as a director of Huya following this substitution.
In addition, Huya s Board has approved the appointment of Mr. Cheng Yun Ming Matthew as a member and the chairman of the compensation committee of the Board, effective immediately.
1. FTC approves Otto Bock HealthCare North America, Inc.’s application to divest assets in prosthetic knee merger.
On Dec. 1, 2020, the FTC announced its approval of an application by prosthetics manufacturer Otto Bock HealthCare North America Inc. to divest certain assets it acquired when it consummated its acquisition of FIH Group Holdings LLC (Freedom Innovations), including all microprocessor prosthetic knee (MPK) products and technology.
Otto Bock completed its acquisition of Freedom Innovations in September 2017, and FTC filed an administrative complaint in December of that year. In November 2019, upholding an administrative law judge’s decision, the FTC unanimously found that the merger was anticompetitive, and it issued the final order requiring Otto Bock to divest the Freedom Innovations business, with limited exceptions. The Commission vote to approve the application was 5-0.
Tencent Music Entertainment Group Announces Acquisition of Lazy Audio
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SHENZHEN, China, Jan. 15, 2021 /PRNewswire/ Tencent Music Entertainment Group ( Tencent Music, TME, or the Company ) (NYSE:TME), the leading innovative online music entertainment platform in China, today announced that it entered into a definitive agreement to acquire 100% equity interest of Shenzhen Lanren Online Technology Co, Ltd ( Lazy Audio , Lanren tingshu ), a well-established audio platform in China, for a total consideration of RMB2.7 billion, primarily payable in cash, plus certain post-acquisition equity-settled awards to Lazy Audio s management team. The existing shareholders of Lazy Audio include China Literature Limited ( China Literature , stock code: 00772.HK), Lazy Audio s management team and other financial investors. The transaction is expected to close in the first half of 2021 subject to customary closing conditions.
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