Chengtian to buy HK entertainment stake

China’’s Chengtian Entertainment Group said Thursday that it will buy a 24.78% stake in Hong Kong’s Golden Harvest Entertainment Holdings for US$26.03 million, the Shanghai Business Journal reported. Chengtian Entertainment will acquire 31 million of the Hong Kong company’s shares and US$2.58 million in convertible notes. The deal will make Chengtian Entertainment the first mainland company to become the largest shareholder of a listed Hong Kong entertainment company.