Mcglaughlin Sells Shares Of Fun Net For $2 Million In Pition

For Mcglaughlin, who was once in deep mire of losses, he was held by the business circle to hold a "Phoenix Nirvana".

It was announced in early September.

After the stripping of the accessories business, Mcglaughlin recently indicated that he had sold all the shares of his joint-venture "interesting day wheat net" for 2 million US dollars.

Mcglaughlin CEO Wang Ye told reporters that the divestiture is the last step for Mcglaughlin's past business restructuring.

In the future, Mcglaughlin will focus on products related to healthy and beautiful lifestyle, and strengthen the construction of mobile Internet channels.

And while stripping the business, Mcglaughlin hopes to acquire some high-quality resources in the direction of development, and the corresponding measures will be implemented next year.

Continue to peel off

In December 22nd, Mcglaughlin formally announced that it had signed an agreement on buying shares with oak in December 19th.

Under the agreement, Mcglaughlin sold all the shares of the jointventure company "fun sky net" for $2 million to invest in oak.

Interesting day net was formed by Mcglaughlin and Giosis, the parent company of Skynet, in December 2012. It was run by Mcglaughlin's former management team.

Giosis and Mcglaughlin hold 60% and 40% shares of the joint venture respectively.

Lu Zhenwang, an electricity supplier observer, told reporters earlier that Mcglaughlin was not only interested in capital demand at that time.

The core of bilateral cooperation is the pformation of Mcglaughlin's business model. It is Mcglaughlin's intention to change the current business dilemma through cooperation with Giosis resources.

However, it turned out that the establishment of a joint venture failed to save Mcglaughlin.

According to the three quarter operating data released by Mcglaughlin, the loss of equity investment from related companies interested in Tian Mai net was US $1 million 800 thousand, and the loss in the same period last year was US $1 million 400 thousand.

For the divestiture, Mcglaughlin CEO Wang Ye told reporters before the day that after the cooperation with Giosis, the M18 operation of its e-commerce platform was not good, and the traffic volume also declined, which brought a about one million loss to each quarter.

Coupled with the M18 is the clothing platform category, and Mcglaughlin's future development direction lack of synergy effect.

As Mcglaughlin's last step towards the restructuring of the past business, he decided to end such an investment.

As a matter of fact, since the acquisition of Mcglaughlin's 63.7% stake in the business circle network in May of this year, Mcglaughlin has begun to peel off its own business.

In September this year, Mcglaughlin announced the two quarter results, announced that it has completed for Mcglaughlin clothing and

The stripping work.

After stripping clothing and accessories business, Mcglaughlin will focus on providing health and cosmetic products.

Will enter healthy and beautiful fields

After completing the holding of Mcglaughlin in the business circle network, Mcglaughlin became more "low-key" than ever before.

Although they are all electric providers, the mode of Mcglaughlin and business circle network is totally different.

It is understood that the promoter of the business circle network is Yuan Yafei, chairman of the three cell group.

Sanbao group originally held 30% stake in the business circle network. After the acquisition of Mcglaughlin in the business circle network, the three cell group also increased its investment in the business circle network according to its shareholding ratio.

Analysts pointed out that many divestiture measures including the sale of interest day Mai net share were the series of reorganization actions taken by Sanzi group after taking Mcglaughlin.

Not long ago, Yuan Yafei said in an interview with the media that in the future, Mcglaughlin will focus on healthy and beautiful products, and will merge with the company.

The day before yesterday, Zou Yan, a spokesman for the three cell group, also confirmed to reporters that the above development direction for Mcglaughlin is basically.

Zou Yan told reporters that apart from the strategic level, the specific management and business details are still being carried out by Mcglaughlin himself.