MUMBAI: Canadian digital studio Rainmaker Entertainment has
agreed to sell its animation studio assets to Beijing-based
Xing Xing Digital through its wholly owned subsidiary Rainmaker
Studios Inc. (RSI).
assets are being acquired in consideration for the assumption
of existing Rainmaker book liabilities in an approximate amount
of $7 million and the assumption of all real property leases.
transaction is conditional upon, among other things, the approval
of Rainmaker's shareholders and the receipt of the required
regulatory approvals, including any approvals required under
the Investment Canada Act.