The Firm is representing Apax Partners, a major shareholder in King Digital Entertainment plc (NYSE: KING), in connection with Activision Blizzard, Inc.’s (NASDAQ: ATVI) acquisition of all outstanding shares of King Digital for $18 in cash per share, for a total equity value of $5.9 billion. It has been reported that Apax Partners will make a return of 93 times its investment. The transaction is subject to approval by King Digital’s shareholders and the Irish High Court, clearances by the relevant antitrust authorities and other customary closing conditions, and is expected to be completed by spring 2016.
King Digital is a leading interactive entertainment company for the mobile world. It has a network of 330 million monthly unique users as of third quarters 2015, has developed more than 200 exclusive games, and offers games in over 200 countries and regions through its king.com and royalgames.com websites, Facebook, and mobile distribution platforms such as the Apple APP Store, Google Play Store and Amazon Appstore.
The Simpson Thacher team included Ryerson Symons and Chi Pan (M&A).
Source: www.stblaw.com
