Chinese language gaming titan Tencent Holdings is contemplating a bid for the holding firm that controls South Korean gaming firm Nexon, two sources with information of the matter informed Reuters.

Tencent is trying to enlist co-investors, the sources mentioned. One of many sources additionally mentioned non-public fairness corporations are learning choices for a deal, together with taking the listed firm non-public.

Nexon founder Kim Jung-ju plans to promote a controlling 98.64 p.c stake in Nexon’s holding agency NXC Corp, held by himself and associated events together with his spouse, the Korea Financial Each day newspaper reported this month.

The stake is value between KRW Eight trillion and 10 trillion ($7.1 billion and $8.9 billion), in keeping with stories from Korea Financial Each day and the Maeil Enterprise Newspaper.

Deutsche Financial institution and Morgan Stanley are operating the sale, sources informed Reuters.

Morgan Stanley declined to remark. Deutsche Financial institution was not instantly out there for remark.

The Maeil Enterprise Newspaper mentioned Tencent has picked Goldman Sachs as adviser, citing unidentified sources. It added that different potential bidders embrace KKR & Co, TPG Capital, Carlyle Group and MBK Companions.

NXC and Tencent declined to remark.

© Thomson Reuters 2019


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