Warframe

Tencent Nears Deal to Take Gaming Firm Leyou Private. “…an agreement could be announced as soon as this week” according to Bloomberg

Warframe15 - Tencent Nears Deal to Take Gaming Firm Leyou Private. "...an agreement could be announced as soon as this week" according to Bloomberg
Loading...

Related Thread: https://www.reddit.com/r/Warframe/comments/iephs2/warframe_2020_interim_report_game_hit_61_millions/

Source:
tencent is said to near deal to take gaming firm leyou private - Tencent Nears Deal to Take Gaming Firm Leyou Private. "...an agreement could be announced as soon as this week" according to Bloomberg


https://www.bloomberg.com/news/articles/2020-08-24/tencent-is-said-to-near-deal-to-take-gaming-firm-leyou-private

Tencent Holdings Ltd. is close to taking Leyou Technologies Holdings Ltd. private in a deal that would value the Chinese gaming firm at about $1.3 billion, according to people familiar with the matter.

The companies are discussing an offer price range of HK$3.30 to HK$3.40 for each Leyou share, said the people, who asked not to be identified as the information is private. Leyou’s major shareholder Charles Yuk plans to sell his entire stake in the company, the people said. Yuk held about 69% of the Hong Kong-listed firm as of the end of December, its latest annual report shows.

Shares of Leyou erased earlier losses and jumped as much as 4.8% on the Bloomberg News report. The stock closed up 2.9% at HK$3.20, giving the gaming company a market value of about $1.27 billion.

Negotiations are in an advanced stage and an agreement could be announced as soon as this week, according to the people. Talks could still be delayed or fall apart and details including offer price and timeline have not been finalized, the people said. Representatives for Leyou and Tencent didn’t immediately respond to requests for comment.

Загрузка...

A deal would mark the end of almost a yearlong process that has been in motion since at least September. Bidders included Tencent-backed iDreamSky Technology Holdings Ltd., Zhejiang Century Huatong Group Co., a Shenzhen-listed gaming firm that also counts Tencent as a shareholder, Japanese tech giant Sony Corp., as well as private equity firms.

On July 10, Tencent Mobility Ltd., a wholly-owned unit of the Chinese tech giant, entered into an exclusive agreement with Leyou for a potential privatization. The companies didn’t provide any financial details.

Leyou, which was listed in Hong Kong in 2011, makes games including free shooting games Warframe and Dirty Bomb. It’s also working with Amazon.com Inc. to co-produce a video game based on the popular fantasy series “The Lord of the Rings,” according to its website.

The company reported a $5.8 million loss in the first half of the year, compared to $9.3 million net income in the same period in 2019. Leyou attributed the loss in part to the coronavirus outbreak’s impact on the ability to develop fresh content for Warframe, even though registered users rose 15.5% in the half-year period compared to the previous year.

— With assistance by Dong Cao, and Zheping Huang

(Updates share price in the third paragraph and earnings in the eighth paragraph.)

Source: Original link


Loading...
© Post "Tencent Nears Deal to Take Gaming Firm Leyou Private. “…an agreement could be announced as soon as this week” according to Bloomberg" for game Warframe.


Top 10 Most Anticipated Video Games of 2020

2020 will have something to satisfy classic and modern gamers alike. To be eligible for the list, the game must be confirmed for 2020, or there should be good reason to expect its release in that year. Therefore, upcoming games with a mere announcement and no discernible release date will not be included.

Top 15 NEW Games of 2020 [FIRST HALF]

2020 has a ton to look forward to...in the video gaming world. Here are fifteen games we're looking forward to in the first half of 2020.

You Might Also Like

Leave a Reply

Your email address will not be published. Required fields are marked *