China's AVIC, CITIC, others inject $850 million to fund Tencent's Supercell purchase
Tencent Holdings Ltd said a consortium formed to buy game developer Supercell has raised $850 million by selling new shares to investors including Chinese state-owned investment firms AVIC Capital and CITIC Capital.
Tencent, China's biggest gaming group agreed in June to buy the 'Clash of the Clans' mobile game maker from Japan's Softbank Group Corp for about $8.6 billion but had flagged it would form a consortium with co-investors.
After the share sale, co-investors, which also include China CITIC Bank Corp and bad debt manager China Cinda Asset Management, will own 50 percent of the... read more
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