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Poultry farmer turned game developer is selling his company for $1.1B



Internet giant Tencent wants to incorporate the Chinese game company Leyou Technologies



10.Jul.20 9:23 AM
By Shawn Highstraw
Photo toinnov.com

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Poultry farmer turned game developer is selling his company for $1.1B
According to insiders, the group is discussing it and may come up with an announcement later on Friday.

Trading in Leyou, which is listed on Hong Kong, was shut down on Friday due to an expected announcement. Japanese technology group Sony is also reportedly considering an offer to Leyou.

Leyou's major shareholder, Charles Yuk, was in talks with a Tencent subsidiary about a potential deal last year. In addition, Leyou received an offer in May from industry colleague Zhejiang Century Huatong, where Tencent is one of the shareholders.

According to the sources, Tencent's offer may come through one of its subsidiaries or through Zhejiang Century Huatong. Leyou's market value is currently $ 1.1 billion.



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