Enlight Media to acquire Beijing Xielin for $170m

Beijing Enlight Media (SZSE:300251) has announced it will acquire Beijing Xielin Enterprise Management for approximately RMB 1.22 billion (USD $170 million). The transaction, structured as an assumption of debt, will see Enlight Media gain 100% ownership of Xielin, which owns the Beijing Olympic NEO building. The company intends to use the property as its new office premises. The purchase will be funded from Enlight Media's own capital. Directors approved the acquisition on March 6, 2025, and the deal is not considered a related-party transaction nor a major asset restructuring. Upon completion, Beijing Xielin will be consolidated into Enlight Media's financial statements.