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Tencent to buy Bluehole

Chinese internet company Tencent Holdings plans to purchase a 10 percent stake in South Korean game developer Bluehole Inc for more than $500 million, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

After the deal, Bluehole could be valued at more than $5 billion, the people said.

Bluehole owns PUBG Corp, which develops and publishes multiplayer online battle game Player Unknown’s Battlegrounds.

In 2017, more than 30 million copies of the game were sold on personal computers, according to SteamSpy, which provides sales-estimate services.

CEEC, Saudi agreement

China Energy Engineering Corp (CEEC) announced on Monday that it has signed a strategic cooperation agreement with Saudi Arabia’s International Company for Water and Power Projects (ICWPP).

According to a filing to the Hong Kong stock exchange, CEEC said the two will carry out pragmatic cooperation in sectors such as electric power and desalination.

ICWPP is a private enterprise in Saudi Arabia, with investing in and operating electric power and sea water desalination projects. It has investment in about 10 countries including Saudi Arabia, South Africa and Vietnam, managing assets exceeding $33 billion.