Private equity firm Joffre Capital will acquire a minority stake in Israeli gaming firm Playtika Holding Corp for over $2 billion from Chinese investment group Giant Investment Co. Ltd, according to a regulatory filing on Tuesday.
Joffre will pay $21 per share for 106.1 million Playtika shares, representing a premium of about 46% to the company’s closing price on Monday. Playtika’s shares fell 5% to $13.53 in early trading.
The stake represents 25.73% of outstanding shares of Playtika, according to the filing.
In January, Playtika announced it was exploring the sale of 15% to 25% of the company’s stock.
Through the deal, Joffre will nominate two board members, who will be recommended by the Chinese investment group.