A Chinese consortium backed by billionaire Jack Ma has agreed to buy Playtika, which makes online casino-style games, from US group Caesars Interactive Entertainment for $4.4bn.
The cash deal is the latest in a succession of large outbound Chinese acquisitions and the consortium is hoping to tap into fast-growing demand for mobile games in China and other emerging markets.
Chinese companies agreed to $121.1bn worth of cross-border transactions in the first half of the year, according to data from Thomson Reuters, beating the country’s full-year record for outbound dealmaking of $111.5bn last year.
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