Giant Network sells 25% stake in Playtika for $2.2 billion
It became known from the Chinese media about Giant Network‘s plans to get rid of a quarter of Playtika‘s assets. The company is selling 106 million shares of the studio to Joffre Capital Group.
The transaction will take place at the rate of $21 per share. This is much higher than the market price. On Tuesday evening, the stock exchange gave $13 for one Playtika security.
In total, Giant Network will gain $2.2 billion from the deal. Recall that the Chinese giant acquired the entire studio in 2016 for $ 4.4 billion.
