Joffre Capital buys stake in Israeli gaming firm Playtika for $2b from China's Giant Investment

Source: Eric Prouzet/Unsplash.

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.


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