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.
Continue Reading Below
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 firstname.lastname@example.org
(END) Dow Jones Newswires
April 21, 2017 05:50 ET (09:50 GMT)