It’s time for another round of our favorite gameshow, WHO’S BUYING NEXON THIS WEEK? I’m your host, Bree Royce, and with me today playing for the big win are Netmarble, Tencent, and private equity fund MBK Partners!
No, but really. We’ve been reporting on Nexon’s founding family’s offer to sell its nearly 99% interest in the company for the last couple of months. Patriarch Kim Jung-ju aims to net $8.9 billion US in the deal. The trick was finding the right buyer, and a whole bunch of major eastern corporations, including Kakao, expressed interest.
But it’s starting to look like the multi-way RvR is turning into a winning alliance. As the Korea Times reports, it appears that Netmarble is teaming up with both Tencent and MBK Partners in a “consortium” to attempt to buy the company. The publication says the bidding will begin next week; it has previously noted that Korea is reluctant to let a company so huge head overseas, so the inclusion of Netmarble and the South Korean equity firm in a deal with the China-based Tencent might grease the wheels.
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Kakao is apparently considering a bid for Nexon as sale process heats up
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Nexon’s founder is selling off his controlling interest – for $9 billion
