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Roehl Niño Bautista · · 1 min readReport: China’s Sina Corp targets stake in Yoozoo Games
“A consortium led by Chinese internet major Sina Corp is in advanced talks to acquire at least 18% of Yoozoo Games,” reported Reuters, citing sources.
Details:
- Sina Corp is joined by Weibo and a Shanghai-based state investment firm in the acquisition bid that is estimated to be worth 2.86 billion yuan (US$447 million).
- The consortium may also help Yoozoo with the debt issues left by its founder and former CEO Lin Qi, who died in December under suspicious circumstances, the report noted.
Context:
- Yoozoo developed the official Game of Thrones: Winter is Coming video game for PC.
- In April, Bilibili was also reported to be in talks to acquire a 24% stake in the game developer, Reuters had earlier reported.
US dollar: US$1 = 6.3945 yuan
Editing by Miguel Cordon and September Grace Mahino
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