Tencent Holdings Ltd (TCTZF) has announced that it will acquire a majority stake in Clash of Clans maker Supercell Oy.
A consortium lead by Tencent will pay $10.2 billion for an 84% stake in the company. After the transaction is completed, Supercell will be owned by Tencent and its own employees. A new incentive program will be put in place that will let Supercell employees sell their vested shares in the company annually.
The Clash of Clans maker will continue its own operations, remain at its current headquarters and still be managed by the same team. The deal will make it so that SoftBank Group Corp (SFTBF) no longer owns any Supercell shares.
Tencent currently holds all outstanding interest in the consortium purchasing Supercell. It also said that it will continue to hold a 50% voting interest in the group. The transaction to acquire Supercell is expected to close during Q3 2016.
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