From the Wall Street Journal comes the news a Chinese company has agreed to pay $4.4 billion for an Israeli online gaming company.
SHANGHAI—A Chinese consortium led by Shanghai Giant Network
Technology Co. and joined by a fleet of financial moguls including a
private-equity arm set up by Alibaba founder Jack Ma has agreed to purchase an Israeli games business for $4.4 billion in cash.
The consortium of 11 investors—including Giant Investment Ltd., Yunfeng Capital, a private-equity firm co-founded by Alibaba Group Holding
’s Mr. Ma, China Oceanwide Holdings
Group Co., China Minsheng Trust Co., CDH China HF Holdings Company
and Hony Capital Fund—will purchase a 100% stake in Caesars Interactive
Entertainment’s subsidiaries, including mobile-games unit Playtika. A
statement announcing the deal was released Sunday by Shenzhen-listed
Chongqing New Century Cruise Co., a shell company bought by Giant
Interactive Group last year.
Caesars Interactive Entertainment is a subsidiary under a joint venture between Caesars Acquisition Co.
and Caesars Entertainment Corp.
It has developed casino-style games including Caesars Casino, Bingo Blitz and World Series of Poker. The deal doesn’t include World Series of Poker and CIE’s real-money online gaming business.
The deal, underscoring the Chinese game developer’s ambition to expand overseas, is another big Israel-focused move by a Chinese firm.
China National Chemical Corp. paid $1.44 billion for a 40% stake in
crop-protection producer Adama Agricultural Solutions in July and last
year Shanghai Bright Food took over Tnuva, Israel’s largest food
producer, for more than $2 billion."
Apparently Chinese investors have little interest in enterprises from Gaza.
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