A consortium, which includes Chinese state-owned investment firms AVIC Capital and CITIC Capital, are injecting $850m to help fund Tencent Holdings' purchase of game developer Supercell. In June, Tencent had said it would buy the company from Japan's SoftBank Group Corp for around $8.6bn but stated that it would form a consortium of co-investors to help do this. The deal is primarily being financed with bank loans, and Tencent has received commitments of over $1.8bn from around 12 banks for a $3.5bn loan to help fund the acquisition. Tencent expects to complete the purchase around 27 October.
A consortium, which includes Chinese state-owned investment firms AVIC Capital and CITIC Capital, are injecting $850m to help fund Tencent Holdings' purchase of game developer Supercell. In June, Tencent had said it would buy the company from Japan's SoftBank Group Corp for around $8.6bn but stated that it would form a consortium of co-investors to help do this. The deal is primarily being financed with bank loans, and Tencent has received commitments of over $1.8bn from around 13 banks for a $3.5bn loan to help fund the acquisition. Tencent expects to complete the purchase around 27 October.