Leyou shareholders agree with Tencent for $1.3 billion

Leyou
Leyou agreed with Tencent for $1.3 billion.

Shareholders in Hong Kong’s Leyou Technologies Holdings have finally approved Chinese tech and entertainment giant Tencent to buy the company.

The deal was voted at the extraordinary general meeting earlier this month, and 97.7% of the shareholders favored the takeover of the company by Image Frame Investment, a Tencent subsidiary.

Tencent is expected to pay HK$10.25 billion ($1.3 billion) to the company, based on its offer of HK$3.3219 per share, which proposed back in August. Leyou will withdraw its listing from the Hong Kong Stock Exchange on Wednesday, December 23.

Leyou, owner of Warframe developers Digital Extremes, UK work-for-hire studio Splash Damage, and publisher Athlon Games, is currently working with Amazon on a Lord of the Rings MMO.

A year ago, controlling shareholder Charles Yuk was meeting with mobile broadcaster iDreamSky about selling his majority stake. At that time, it first emerged that Leyou was up for sale. Since then, potential buyers like Leyou rival Zhejiang Century Huatong Group and Sony Corporation have been reported. Included on this list in July, Tencet was approved as a potential buyer in September.

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