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– Chinese gaming and social media company Tencent Holdings Ltd on Wednesday sold a stake worth $3.01 billion in Singapore-based gaming and e-commerce firm Sea Ltd.
Tencent sold 14.5 million shares in Sea Ltd at $208 each in a block trade, according to a term sheet reviewed by Reuters. It had said on Tuesday it would reduce its voting power in the U.S.-listed firm to under 10%.
Sea and Tencent did not immediately respond to a request for comment from Reuters.
(Reporting by Shashwat Awasthi and Scott Murdoch; editing by Uttaresh.V)
