Hasbro Enters Joint-Venture with Alpha Animation for China
During a ceremonial signing of a Collaboration and Investment Letter of Intent ahead of the Shanghai Toy Fair, Hasbro, Inc. (NASDAQ: HAS), a leading global branded play company, and Alpha Animation, the leading toy and entertainment company in China, today announced plans for a strategic co-development partnership for China and the global markets. Under this Letter of Intent, Hasbro and Alpha Animation intend to form a Chinese joint venture company for the co-development of toys and games.
This initial Letter of Intent -- which is still subject to agreement on definitive terms -- focuses on the popular brand Blazing Teens from Alpha Animation. A brand from Hasbro's global portfolio also will be selected for development. Hasbro and Alpha Animation will in turn collaborate to develop these brands for China and global markets.
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