The recently concluded agreement includes the transfer of theme parks in Wuhan, Chengdu, Tianjin and Qingdao to MBK Partners with 100% equity.
Haichang Ocean Park announced a series of agreements with MBK Partners, one of Asia’s leading private equity funds, including strategic cooperation agreements, shareholder agreements, agreements to buy and sell shares, brand license agreements and transition services agreements.
The two companies will now cooperate on Haichang brand promotion, as well as intellectual property development, biotechnology, new theme parks, inventory upgrade and transformation. MBK Partners could also potentially participate in the expansion and development of the Shanghai Haichang Ocean Park.
The Haichang Ocean Park theme parks in Wuhan, Chengdu, Tianjin and Qingdao will be transferred to MBK Partners with 100% equity, while the two entities will jointly operate the Zhengzhou theme park, which is currently under construction, MBK Partners holding a 66% interest. In this project.
The parks will continue to use the Haichang brand, and Haichang will provide MBK Partners with brand marketing and promotion, animal rental and conservation support. For the Zhengzhou project, Haichang will also take charge of park construction supervision, human resources, property management and financial system management.