A consortium of companies has raised $850 million to support Tencent’s $8.6 billion acquisition of Clash Royaledeveloper Supercell.
The group of co-investors includes Chinese state-owned investment companies AVIC Capital and CITIC Capital MB, as well as Greater Global Investments Limited, SinoRock Star II Limited and SPDBI Royale.
The consortium will indirectly hold a stake of 76.9% in the Finnish developer. Tencent plans to acquire 84.3% of Supercell in total.
The purchase is expected to be completed on October 27th.
The move follows the news that Tencent has taken out $3.5 billion in loans to fund the acquisition. The firm is thought to have commitments from 23 banks to make up the money for the deal.