Brussels, 10 August 2023
The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Savvy Games Group (‘Savvy’) of Saudi Arabia, Tencent Holdings Limited (‘Tencent’) and Mr Ying Shuling, both of China.
The joint venture, VSPN Group Limited, organises and commercialises eSports tournaments and provides influencer talent management and related promotional services. Savvy organises and commercialises eSports events. Tencent is a technology company whose activities include developing and publishing video games, organising eSport tournaments and providing live game streaming services. Mr Ying Shuling is the chairman and founder of VSPN.
The Commission concluded that the proposed acquisition would raise no competition concerns, given that the joint venture has negligible actual and foreseen activities in the European Economic Area. The transaction was examined under the simplified merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.11080.
Source – EU Commission