Perfect World Retains Financial Advisors, Legal Counsels To Review Proposal

(RTTNews) - Chinese online game developer Perfect World Co., Ltd. (PWRD) announced that the special committee of the company's board of directors has retained China Renaissance Securities (Hong Kong) Ltd. and Duff & Phelps as its financial advisors as well as Skadden, Arps, Slate, Meagher & Flom LLP and Paul Hastings LLP as its legal counsels to review an acquisition proposal.

The advisors will review and evaluate the preliminary non-binding proposal letter dated December 31, 2014 from the company's Founder and Chairman Michael Yufeng Chi to acquire all of the outstanding shares of Perfect World not currently owned by him in a going private transaction.

Perfect World's Board cautions its shareholders and others considering trading in its securities that no decisions have been made by the Special Committee with respect to its response to the Proposal.

There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated.