Tencent, Kakao said to be among shortlisted bidders for Korean gaming firm Nexon

FILE PHOTO: Logos of online gaming firm Nexon are seen at its main office building in Seoul, December 14, 2011. REUTERS/Kim Hong-Ji

Chinese tech giant Tencent and South Korea’s biggest chat operator Kakao Corp are among five bidders shortlisted to buy South Korean gaming firm Nexon, the Korea Economic Daily newspaper reported on Monday.

The newspaper said NXC Corp, the holding firm which controls Nexon, also had shortlisted private equity firms Bain Capital and MBK Partners, as well as an unidentified private equity firm.

South Korean publisher Netmarble Corp was not offered to join the preliminary bidding, but formed a consortium with MBK Partners to bid for Nexon, according to the report which cited investment banking sources.

The deal could worth as much as 15 trillion won (£10 billion) and the formal bid process was set to take place in early April, it added.

Nexon founder Kim Jung-ju has been exploring a sale of a 98.64 percent stake in NXC Corp that is held by him and related parties including his wife.

MBK Partners declined to comment on the report while Tencent, Kakao, Netmarble and Bain Capital were not immediately available for comment.

Reuters

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.