Tencent and Ookbee are both selling shares in their online literature joint venture, with China Literature subsidiary Cloudary investing $10.5m.
Online literature provider China Literature has agreed to pay $10.5m for a 20% stake in Thailand-based literature and lifestyle media platform developer OBU, investing through primary and secondary share deals.
China Literature’s international-focused subsidiary, Cloudary, is acquiring a 6.5% stake in the company, in addition to a 10.2% stake from Kapok Tree, a subsidiary of internet group Tencent, and a 3.2% stake from digital content provider Ookbee, according to a stock exchange filing.
Formed as a joint venture between Tencent…
