Chinas Lead Eastern Invst buys 10% in Reliance Games Zapak

November 27, 2019 | |Post a Comment

first_imgMumbai, Sep 22 (PTI) In a strategic partnership, Chinas Lead Eastern Investment Group today announced the acquisition of 10 per cent stake in Reliance Games Zapak Mobile Games for USD 15 million. Besides, Reliance Games, Lead Eastern and Creative Cultural will form a three-way joint venture in China to develop and market mobile games, with 40 per cent, 51 per cent and 9 per cent stakes respectively. Lead Eastern focusses on film and television production investments, while Hong Kong-based Creative Cultural manages intellectual property rights acquired from major Hollywood studio companies and leverages these properties through themed entertainment attractions and mobile games. Reliance Games is part of Anil Ambani-owned Reliance Entertainment and the deal with Lead Eastern values its mobile gaming venture Zapak at USD 150 million. The new JV in China will create, operate and market mobile games based on Intellectual Properties owned and acquired by Zapak. Lead Holding group is a leading conglomerate in China, with diversified business interests in real estate, tourism, finance, media and entertainment and gaming. Its listed unit Lead Eastern has interests in films, television, gaming content creation, broadcasting and distribution. Reliance Group Managing Director Amitabh Jhunjhunwala said the partnership with Lead Group will accelerate the growth and reach of the groups gaming business in China marketplace and also help in its expansion in the global markets. “This partnership will enable both the companies to leverage their core competencies,” he said in a statement. Lead Eastern Companys Chairman Chunfeng Wang said, “Strategic partnership between Lead Eastern and Reliance Games will enable the two companies to expand extensively in China and global markets.” PTI BJ MKJadvertisementlast_img

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