By Sam Boughedda
According to Bloomberg, the tech-focused buyout company Joffre Capital is reportedly seeking financing to support a possible bid for control of Playtika Holding Corp (NASDAQ:PLTK), the mobile game developer.
Citing people with knowledge of the matter, Bloomberg said Joffre, started by Chinese dealmakers, is considering increasing its stake in the Israel-based digital entertainment company to become the majority shareholder.
"It is studying a purchase of Chinese online gaming tycoon Shi Yuzhu’s remaining holding in the firm," wrote Bloomberg.
The company is said to have been in talks with various lenders about funding a potential deal in Playtika, whose shares have tumbled 47% in the past 12 months.
In June, Joffre acquired a minority 25.7% stake in Playtika from a holding company controlled by Yuzhu Shi for $2.2 billion after revealing earlier in the year that it was looking to sell a portion of its shares.
In February, Playtika said it had initiated a process to evaluate its potential strategic alternatives, which could include a sale of the company or other possible transactions.
Playtika shares are down more than 2% following the report.