SoftBank Group plans to sell most of its stake in GungHo Online Entertainment to management of the game publisher in deal valued at ¥73 billion, or roughly $685 million, according to published reports.
Japan-based GungHo, the maker of the popular Puzzle & Dragon’s mobile game, said it plans to buy back its shares from the Japanese telecommunications giant. GungHo will hold a tender offer starting within 20 days from June 3 for ¥294 a share. The news follows upon SoftBank’s announcement that it was selling its shares in Alibaba Group for about $10 billion.
[aditude-amp id="flyingcarpet" targeting='{"env":"staging","page_type":"article","post_id":1970293,"post_type":"story","post_chan":"none","tags":null,"ai":false,"category":"none","all_categories":"business,entrepreneur,games,","session":"A"}']And rumors persist that SoftBank still plans to sell its 73 percent stake in Finland-based Supercell, the maker of Clash of Clans and Clash Royale, for well over $5 billion. Nikesh Arora, newly appointed president of SoftBank’s international investments and operations, reportedly has decided to sell some of SoftBank’s video game properties. These businesses are the envy of the mobile gaming world, and it’s surprising that any company would decide to sell them — since they make so much money — so soon after acquiring them.
But SoftBank has more than $80 billion in debt, about a third of it related to its U.S. mobile carrier, Sprint.
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