SoftBank increases stake in mobile gaming company
SNL Kagan Media & Communications Report
By Haseeb Ali
June 3, 2015
SoftBank Corp. upped its stake in mobile gaming company Supercell Oy, a subsidiary of SoftBank in Finland, to 73.2%, the company said June 1.
Softbank increased its stake by purchasing additional shares representing 22.7% of Supercell from other existing investors. The transaction closed on May 29. Supercell will continue to operate independently with Ilkka Paananen as its CEO.
Supercell’s mobile game titles include “Clash of Clans,” “Hay Day” and “Boom Beach.”
Morrison & Foerster LLP acted as legal adviser, and the Raine Group LLC acted as financial adviser to SoftBank on the transaction.