Sina-led consortium said to be in final talks to buy stake in Yoozoo Games

Shanghai-based Yoozoo is known for developing Game of Thrones: Winter is Coming, a real-time strategy video game released in 2019

The Sina-led group plans to initially buy at least 18 per cent of Yoozoo, estimated to be worth about US$447 million

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Published: 3:17pm, 7 Jun 2021Updated: 5:18pm, 7 Jun 2021

A consortium led by Chinese internet major Sina Corp is in advanced talks to acquire at least an 18 per cent stake in Yoozoo Games, two people with direct knowledge of the matter told Reuters.

Sina is teaming up with Chinese microblog operator Weibo Corp and a Shanghai-based state investment firm, according to the people who declined to be identified because of confidential constraints.

The consortium is in final talks with Yoozoo chairwoman Xu Fenfen to initially buy at least 18 per cent of the company, the people said. An 18 per cent stake in Yoozoo is worth about 2.86 billion yuan (US$447 million) based on the Shenzhen-listed company’s market value of US$2.5 billion on Friday.

Yoozoo declined to comment. The Shanghai-based developer released in 2019 Game of Thrones: Winter is Coming, a real-time strategy video game based on the HBO fantasy drama television series Game of Thrones and the A Song of Ice and Fire books.

Sina, which one source said would set up a special-purpose vehicle for the deal, and Weibo did not immediately respond to requests for comment.

A screenshot of Game of Thrones: Winter is Coming, a real-time strategy personal computer browser and mobile game developed by Shanghai-based Yoozoo Games. Photo: SCMP

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