TOKYO -- Chinese internet conglomerate Tencent Holdings will acquire a 6.86% stake in Japanese publishing company Kadokawa for 30 billion yen ($264 million), Kadokawa announced on Friday.
Kadokawa said in a stock exchange filing that a Hong Kong-based Tencent subsidiary called Sixjoy will buy 4.86 million shares for 6,170 yen per share, a 2.3% premium to its closing price on Friday. The transaction will take place between Nov. 15 and 26.
