The transaction is in line with Tencent’s goals to expand beyond China.
Accendo Capital has sold 500,000 Remedy Entertainment shares to Tencent Holdings, which equates to a 3.8% stake in the company. Following this transaction, Accendo Capital still holds approximately 1.8 million shares at 14.0% stake in Remedy. This transaction is not tied to any internal commercial activities going on within Remedy.
“This is a capital markets transaction between Accendo Capital and Tencent, and is not connected with the commercial activities at Remedy,” Tero Virtala, CEO of Remedy Entertainment . “We are naturally aware that Tencent has extensive expertise in the industry, so we are honored by their interest in Remedy and happy to welcome Tencent as a new shareholder.”
Remedy Entertainment has