SoftBank is going to sell its stake in Puzzle & Dragons developer

The Japanese media giant is rapidly leaving the gaming market. Along with plans to sell Supercell, SoftBank turned out to be interested in selling its stake in GungHo.

During June, SoftBank wants to sell a 23.47% stake in GungHo, The Wall Street Journal reports. GungHo, recall, became famous for the Puzzle & Dragons battler, the first mobile game to earn a billion dollars.

The future deal is estimated at ¥73 billion ($685 million). This is based on ¥294 per share, of which 248.3 million. To date, the price of one share is already higher – ¥308.

GungHo announced plans to buy out its stake from SoftBank during the tender.

SoftBank is not only getting rid of gaming assets. Last week it became known that Alibaba is also buying out its stake from a Japanese company. The deal is valued at more than $7.9 billion.

The sale of assets by SoftBank is associated with debt obligations in the amount of ¥11.9 trillion ($ 107 billion), – writes Reuters.

Sources: The Wall Street Journal, Reuters, Bloomberg

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