Tencent takes majority control over Supercell
World's largest game company increases stake in consortium which owns Finnish mobile developer
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Chinese tech giant Tencent has effectively taken control of Supercell, after increasing its stake in the consortium which owns a majority stake in the company.
Back in 2016 a Luxembourg consortium formed with the sole purpose of acquiring Supercell purchased 81.4% of the Finnish mobile developer, which was then valued at $10.2 billion.
Now, as first reported by Caixin Global, Tencent has increased its stake in the consortium from 50% to 51.2%.
In order to increase its stake in Supercell by just over 1%, Tencent acquired $40 million worth of shares as part of a convertible bond, according to details from a filing in the Hong Kong Stock Exchange.