### 腾迅入股搜狗,是张朝阳想套现？

9.16日，腾迅以4.48亿美元现金加上旗下的搜索资产，换取了搜狗的36.5%的股份和20.6%的投票权。搜狗为什么要出售？

"Sogou will use a portion of the cash proceeds of Tencent’s investment to pay a special dividend in the amount of approximately $301 million to the holders of Series A Preferred Shares of Sogou, payable promptly following the closing of the transaction." 记者会上说"这一次增发新股，后面会给原来老股东派股息，然后回馈小股东。最重要的是拿到腾讯的资源。" 我十分不明白为什么要在此时发放特殊股利给A类优先股的持有者。那么这些持有者又是谁呢？ 根据历史公告，在2010年10月22日，搜狗出售了24.0 million, 14.4 million and 38.4 million份A类优先股分别给阿里、Yunfeng基金以及张朝阳自己的Photon基金，当时的价格分别是1500万美元、900万美元、2400万美元。对应的份额约为10%, 6% and 16%。此时搜狗依然保留搜狗53%的股份。 根据2011年6月的公告： As of June 30, 2011, Sogou had outstanding a combined total of 216,000,000 ordinary shares and Series A preferred shares, consisting of (i) 139,200,000 ordinary shares held by Sohu; (ii) 24,000,000 Series A preferred shares held by Alibaba; (iii) 14,400,000 Series A preferred shares held by China Web; (iv) 38,400,000 Series A preferred shares held by Photon. 在2011年6月30日，sohu总计占股139,200,000/216,000,000=64.4%。 然后在2012年6月29日， "On June 29, 2012, Sohu purchased the 24.0 million Sogou Series A Preferred Shares held by Alibaba for fixed cash consideration of$25.8 million. After the purchase of these shares, we held 73% of the combined total of Sogou's outstanding ordinary shares and Series A Preferred Shares. As we are Sogou's controlling shareholder, we continue to consolidate Sogou in our consolidated financial statements, but recognize noncontrolling interest reflecting shares held by shareholders other than us."