Alibaba to sell Lingxi Games in more than $2 billion deal, source says
Alibaba Group is expected to reap more than $2 billion from the sale of its game developer unit Lingxi Games to private equity firm Trustar Capital, a person familiar with the matter told Reuters.
Alibaba and Trustar have reached a formal agreement after several rounds of talks, according to an internal memo sent to Lingxi staff on Monday by the game developer’s CEO Zhou Bingshu and reviewed by Reuters.
Lingxi, Alibaba and Trustar did not immediately respond to requests for comment from Reuters.
