Fenwick Assists on $8.6B Gaming Deal

Fenwick recently advised Clash of Clans developer Supercell Oy in the $8.6 billion sale of a majority stake in the company to Tencent Holdings Limited. Shenzhen-based Tencent, one of China’s largest internet portals, will initially acquire about 84.3% of Supercell securities from Japan’s SoftBank Group and the Finnish game maker’s employees.

The transaction and Fenwick’s role in it were covered by a number of national publications, including Law​.com, Legal Week and Law360.

The deal values Supercell at about $10.2 billion, Law.com reported. Supercell was founded in 2010 in Helsinki and has developed the popular mobile strategy game Clash of Clans, which last year was the highest-grossing app on the App Store and Google Play, according to Legal Week.

Law360 reported that SoftBank bought a majority stake in Supercell nearly three years ago for $1.5 billion and increased its ownership stake in the company last year to about 75 percent for an undisclosed price. For Tencent, the deal represents an expansion in the mobile game field, Law360 noted. Last year, the company purchased a stake in San Francisco-based mobile game developer Glu Mobile Inc., known for the “Kim Kardashian Hollywood” game, for $126 million. Fenwick represented Glu in that transaction.

Fenwick represented Supercell with a Fenwick Represents Supercell Oy in its $8.6 Billion Majority Stake Acquisition by Tencent led by partners Mark Stevens and Gregory Roussel, and included partners Shawn Lampron, Mark Ostrau, David Forst and Stephen Gillespie.

The transaction is subject to antitrust approvals in the United States and Europe and is anticipated to close in the third quarter of 2016.


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