Shareholders in Hong Kong's Leyou Technologies Holdings have approved a deal for Chinese tech and entertainment giant Tencent to buy the company.
The nod was given on Friday, December 11th in an extraordinary general meeting, with Tencent expected to shell out a whopping $1.3bn (HK$10.25bn) via its Image Frame Investment subsidiary. That's based on the offer of HK$3.3219 per share Tencent put on the table back in August.
As of December 23rd, Leyou will be taken private.
This news comes 12 months after the first reports of Leyou being up for sale. Back then, IDreamSky was in talks to snap up the company.
Tencent joined the list of companies interested in buying Leyou in July of this year.
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