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Market Chatter: Alibaba to Sell Lingxi Games in Deal Valuing Studio at Over $1.5 Billion

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Alibaba (HKG:9988) is selling its gaming arm Lingxi Games to Asian private-equity firm Trustar Capital in a deal that could value the studio at more than $1.5 billion, Bloomberg News reported Monday.

Trustar has reached an agreement to acquire Lingxi, according to an internal memo reviewed by the news outlet.

Lingxi CEO Zhou Bingshu said Alibaba was selling the unit to allow the company to focus more closely on its strategic priorities, the report added.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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