ABGSC acted as exclusive financial adviser to Funcom SE (“Funcom”) in relation to its sale to Tencent Holdings Limited (“Tencent”)

On 17 March 2020, Funcom announced that Tencent has received acceptances for 53,867,411 of the shares in Funcom, representing in total 66.67% of the share capital. Including the 27.46% already owned, Tencent now holds shares representing in total 93.61% of the total share capital in Funcom. Following completion of the voluntary offer, Tencent will proceed with a compulsory acquisition (squeeze out) of the remaining shares not owned by Tencent, thereby making Funcom a fully-owned subsidiary of the 8 largest company in the world, measured by market cap.
The transaction will enable Tencent to leverage Funcom’s valuable capabilities and insights into the Western core games market in its international expansion plan. The transaction will further a) provide Funcom with the necessary resources to focus on key and high potential games and IPs such as Conan and Dune; b) expand the possibilities for Funcom’s key IPs in mobile platforms through cooperation with Tencent; and c) strengthen Funcom with Tencent’s extensive operational leverage and insights, for example know-how in game-as-a-service and in-game operations.
ABG Sundal Collier acted as exclusive financial advisor to Funcom in the transaction.