Press Release

White & Case Advises on Supercell Transaction

Global law firm White & Case LLP is advising Finland-based Supercell Oy on its US$8.6 billion majority stake acquisition by Tencent Holdings Limited, one of China's largest and most used internet portals.

Under the terms of a conditional share purchase agreement, the buyer will initially acquire Supercell securities accounting for a total of up to about 84.3 percent of Supercell securities in a transaction valuing the company at an equity value of approximately US$10.2 billion.

The deal is expected to close in the third quarter of 2016 and is subject to customary regulatory approvals and closing conditions. Supercell's current management will maintain their operational independence and Supercell will continue to be based in Finland.

Supercell is a mobile game developer based in Helsinki, Finland, with offices in San Francisco, Tokyo, Seoul and Beijing. Its games are available for tablets and smartphones using both Apple's iOS and Google's Android operating systems. Since its founding in 2010, Supercell has brought four games to the market – Hay Day, Clash of Clans, Boom Beach and Clash Royale.

The White & Case team which advised on the transaction was led by partner Janko Lindros and included partners Petri Haussila, Tanja Törnkvist and Timo Airisto, with support from associates Oona Lilja, Eerika Halme and Heidi Blomqvist (all Helsinki). Partner James Killick, with support from associate Marika Harjula (both Brussels), advised on global anti-trust aspects and additional support was provided by partners Vivian Tsoi, David Li (both Beijing) and Ben Wilkinson (London). White & Case worked closely with Fenwick & West on the transaction.

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