Business · Companies · 13 hrs ago
China approves Savvy Games Group’s acquisition of Moonton
China approved Savvy Games Group’s purchase of Moonton from ByteDance, the company that owns it.
The market regulator said it completed its review on October 29 and announced unconditional approval on November 6.
Moonton makes Mobile Legends: Bang Bang, a mobile game with a large following in Southeast Asia.
The reported purchase price was more than $6 billion, according to ByteDance’s legal adviser.
The approval clears one regulatory step toward completing the sale.
The sources do not say when the deal will close or what steps remain.
China’s market regulator unconditionally approved Savvy Games Group’s acquisition of Moonton from ByteDance.
The regulator concluded its review on October 29 and disclosed the approval on November 6.
The approval clears one regulatory step toward closing the sale.
Moonton develops Mobile Legends: Bang Bang, a mobile multiplayer game popular in Southeast Asia.
The reported purchase price exceeded $6 billion, according to ByteDance’s legal adviser.
- Who
- Saudi Arabia’s Savvy Games Group is acquiring Moonton from ByteDance.
- What
- China unconditionally approved the acquisition.
- When
- The review concluded on October 29; the regulator disclosed its approval on November 6.
- Where
- China.
- Why
- Not stated.
This story does not have two clearly opposing sides.
China’s market regulator concluded its review of the acquisition.
The regulator disclosed that it had unconditionally approved the acquisition.
- Buyer
- Savvy Games Group
- Seller
- ByteDance
- Target
- Moonton
- Review concluded
- October 29
- Approval disclosed
- November 6
- Reported purchase price
- More than $6 billion