Paul, Weiss represented Tencent on the deal
Tencent executed its Series B equity financing in Huya Inc., a subsidiary of YY, a leading China-based esports live-streaming social-media platform.
The financing round involves an approximately $461.6 million investment into Huya. Upon the completion of this transaction, YY maintains control over Huya. Tencent has a right, exercisable between the second and third anniversary of the closing date, to purchase additional Huya shares at fair market price to reach 50.1 percent of the voting power in Huya.
The Paul, Weiss team included corporate partners Jeanette Chan (Picture) and Tong Yu.
Involved fees earner: Jeanette Chan – Paul Weiss Rifkind Wharton & Garrison; Tong Yu – Paul Weiss Rifkind Wharton & Garrison;
Law Firms: Paul Weiss Rifkind Wharton & Garrison;
Clients: Tencent Holdings Inc.;