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Shanda Games forms special committee to evaluate 'going private' proposal

Shanda Games announced that in response to the preliminary non-binding proposal dated January 27 received by the company's board from Shanda Interactive Entertainment Limited, the controlling shareholder of the company, and an affiliate of Primavera Capital to acquire the company in a "going private" transaction, the board has formed a special committee of independent directors who are not affiliated to any member of the consortium consisting of Andy Lin, Yong Gui and Heng Wing Chan to evaluate the proposal. The special committee intends to retain advisors, including an independent financial advisor and legal counsel, to assist it in its evaluation, Shanda said.