Tencent joins alliance of South Korean companies to buy Nexon
Chinese giant Tencent has joined the South Korean consortium created by Netmarble. The latter is one step closer to buying Nexon, the publisher of ArcheAge and Dragon Nest.
A month ago, the company was put up for sale by its founder Kim Jung Ju. For 98.64% of Nexon shares, the buyer will shell out almost $ 9 billion. According to analysts, this is too much money for single publishers in South Korea. But Netmarble, having created a consortium, will be able to claim a controlling stake. Moreover, Tencent has a cash reserve of $100 billion.
According to the Korea Times, the consortium has now been finally formed. It includes not only Tencent, but also the MBR Partners fund.
In addition to this alliance, foreign companies such as TPG Capital and Kohlberg Kravis Roberts intend to compete for Nexon, writes Gamesindustry.biz . Nevertheless, Netmarble intends to do everything to keep Nexon behind the South Korean industry and thereby strengthen the latter.
The auction will begin on February 21, and the buyer will be named in October.
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