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Alibaba to sell Lingxi Games in more than $2 billion deal, source says

First publishedAug 17, 01:39 UTC
Last updatedAug 17, 13:23 UTC · 1m ago
11 outletInvesting.com · Stock Market11 outletInvesting.com · Stock Market11 outletInvesting.com · Stock Market
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Answer

HONG KONG, Aug 17 (Reuters) - Alibaba Group is expected to reap more than $2 billion from the sale of its game developer unit Lingxi Games to private equity firm Trustar Capital, a person familiar with the matter told Reuters. Alibaba and Trustar have reached a formal agreement after several rounds of talks, according to an internal memo sent to Lingxi staff on Monday by the game developer’s CEO Zhou Bingshu and reviewed by Reuters.

Reported by 3 outlets Investing.com · Stock Market. See all sources ↓

HONG KONG, Aug 17 (Reuters) - Alibaba Group is expected to reap more than $2 billion from the sale of its game developer unit Lingxi Games to private equity firm Trustar Capital, a person familiar with the matter told Reuters. Alibaba and Trustar have reached a formal agreement after several rounds of talks, according to an internal memo sent to Lingxi staff on Monday by the game developer’s CEO Zhou Bingshu and reviewed by Reuters. Lingxi, Alibaba and Trustar did not immediately respond to requests for comment from Reuters. Under the agreement, Alibaba will transfer all of its Lingxi stake to Trustar, the memo said.

Read the full report at Investing.com · Stock Market

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In brief
What's the story?
HONG KONG, Aug 17 (Reuters) - Alibaba Group is expected to reap more than $2 billion from the sale of its game developer unit Lingxi Games to private equity firm Trustar Capital, a person familiar with the matter told Reuters. Alibaba and Trustar have reached a formal agreement after several rounds of talks, according to an internal memo sent to Lingxi staff on Monday by the game developer’s CEO Zhou Bingshu and reviewed by Reuters.
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3 outlets, average source rating 6.0/10.
When was it last updated?
1m ago.
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    Alibaba to sell Lingxi Games in more than $2 billion deal, source says

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    Investing.com · Stock Market
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