Rights to Pleasant Goat, Big Wolf graze HK$1 billion

Imagi International Holdings Ltd plans to make three movies including a 3D version with the popular Chinese cartoon characters Pleasant Goat and Big Big Wolf after purchasing Toon Express Group, which owns their trademark and copyright.

The HK$810 million ($104 million) acquisition was announced on Feb 18 by Hong Kong-listed Imagi.

Imagi might also pay up to an additional HK$230 million based on the financial performance of Toon Express in 2011 and 2012, which would bring the deal to more than HK$1 billion.