Deals
Tencent to Pay $500 Million for Stake in CJ Games
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Tencent Holdings Ltd., Asia’s biggest Internet company, agreed to pay about $500 million for a 28 percent stake in South Korea’s CJ Games to bolster its lineup of online and mobile entertainment. Tencent shares fell.
The deal includes the purchase of new and existing shares in Seoul-based CJ Games, the companies said in statements yesterday. The agreement includes the acquisition of the Netmarble portal of CJ E&M Corp., with titles including “Taming Monsters” and “Everybody Cha Cha Cha.”