Allen and Overy (A&O) will advise Sumo Group plc on the “all-cash” acquisition by Tencent Holdings Limited through its indirect wholly-owned subsidiary, Sixjoy Hong Kong Limited.
Sumo Group plc is a British video game holding company based in Sheffield. It was formed in December 2017 as the parent company for Sumo Digital and Atomhawk, followed by its initial public offering on the London Stock Exchange later that month.
Under the terms of the acquisition, Sumo shareholders will be entitled to receive 513 pence in cash for each Sumo share, valuing the entire issued share capital of Sumo at approximately £919m on a “fully diluted basis”.
The A&O team is led by Sumo relationship partner Claire Coppel with associates Ben Brooks and Emil George and trainee Eliza Asare Parbi.
Partner Philip Mansfield and senior associate David Weaver led the antitrust and foreign direct investment advice and partner Paul McCarthy led on Incentives.
Furthermore, corporate M&A partners Richard Browne and Seth Jones also provided support on the transaction.