Tencent to Buy 9.9% Stake in Seasun for US$142.6 Million

By Joanne Chiu Features Dow Jones Newswires

Tencent Holdings Ltd. (0700.HK) will acquire a 9.9% stake in Kingsoft Corp. (3888.HK) unit Seasun Holdings Ltd. for US$142.6 million.

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Kingsoft said after markets closed Friday that Tencent has agreed to buy a 4.34% stake in Seasun from the online-game developer for US$62.6 million.

It said the Chinese internet giant will pay $80 million for an additional 5.56% stake from other Seasun shareholders, including WestGame Holdings Ltd., United Websoft Inc. and Xiaomi Ventures Ltd.

Write to Joanne Chiu at joanne.chiu@wsj.com

(END) Dow Jones Newswires

April 21, 2017 05:50 ET (09:50 GMT)