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Trustar Capital Nears Deal for Alibaba's Gaming Unit
14 Aug
Summary
- Trustar Capital is close to acquiring Alibaba's video game business.
- Lingxi Games is the specific unit being sold by Alibaba.
- Trustar emerged as the leading bidder among several suitors.
Asian private equity firm Trustar Capital is reportedly in advanced negotiations to acquire Alibaba Group Holding Ltd.'s video game division, known as Lingxi Games. This potential deal marks a significant strategic move for both companies.
Trustar Capital has emerged as the leading candidate to purchase Lingxi Games. The firm reportedly surpassed other potential buyers, including established video game developers, in its pursuit of the acquisition.
This divestment by Alibaba comes as the e-commerce giant continues to restructure its various business units. The sale of its gaming arm could allow Alibaba to focus on its core operations while potentially injecting new resources into Lingxi Games under Trustar's ownership.
