Asian private equity firm Trustar Capital is closing in on an agreement to acquire Lingxi Games, the video game division of Alibaba Group, in a transaction that could value the business at more than $1.5bn, according to a report by Bloomberg.
The report cites unnamed people familiar with the matter as revealing that Trustar has emerged as the preferred bidder after beating rival suitors, including strategic buyers from the gaming industry. Discussions remain ongoing though, and a final agreement...
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