HONG KONG: A consortium led by Chinese internet major Sina Corp is in advanced talks to acquire at least 18per cent of Yoozoo Games, two people with direct knowledge of the matter told Reuters.
In a stock exchange filing last week, Yoozoo said Xu was mulling equity transfer-related issues and had made relatively substantial progress. Xu has also become the legal guardian of the inheritors of Lin, who was also Yoozoo's actual controller with a 24per cent stake, since his death, according to the company's filings. The consortium is also looking to buy the remainder of the 24per cent stake in the coming months, said the people.In addition to the stake purchase, the consortium has also stepped in to help solve the debt problem that Lin left, said the two people.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.