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Investing.com -- Tencent Holdings Ltd (HK:0700) (F:NNND). is exploring a potential acquisition of Nexon Co. to strengthen its gaming operations, according to Bloomberg, citing people familiar with the situation.
The Chinese tech company has initiated discussions with the family of Nexon’s late founder Kim Jung-ju about a possible deal. Kim’s family, who are consulting with advisers and reviewing options, hold their stake through family investment firm NXC Corp.
NXC Corp., together with its affiliated unit NXMH BV, owned 44.4% of Nexon as of June 30, according to Nexon’s interim report. Kim’s wife and daughters control approximately 67.6% of NXC.
It remains unclear how open NXC is to selling its Nexon holding, and there is no guarantee that Tencent’s considerations will result in a transaction. The structure of any potential deal has not been finalized.
This move comes as Tencent, which previously attempted to acquire Nexon in 2019, makes new investments in South Korean assets.
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