CHCJY China CITIC Bank (PK)

   By Chester Yung 
 

HONG KONG--Chinese internet giant Tencent Holdings Ltd. (0700.HK) said late Sunday that seven co-investors in Supercell Consortium include Citic Capital MB Investment Ltd. and unit of China Citic Bank.

Tencent said co-investors were committed to subscribe to new Consortium shares for a total of US$850 million, payable in cash. As the result of the subscriptions, Tencent's indirect voting equity interest in the Consortium will be 50% and the co-investors will collectively hold the rest. Consequently, the Consortium will cease to be a unit of Tencent, the company said in the statement.

The Consortium will hold 76.9% of Supercell's Securities after the acquisition, Tencent said.

Write to Chester Yung at chester.yung@wsj.com

(END) Dow Jones Newswires

October 16, 2016 22:56 ET (02:56 GMT)

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