Tencent Invests in YY Subsidiary Huya

Paul, Weiss represented Chinese internet giant Tencent in its Series B equity financing in Huya Inc., a subsidiary of YY, a leading China-based esports live-streaming social-media platform. The financing round involves an approximately $461.6 million investment into Huya. Upon the completion of this transaction, YY maintains control over Huya. Tencent has a right, exercisable between the second and third anniversary of the closing date, to purchase additional Huya shares at fair market price to reach 50.1 percent of the voting power in Huya. 

The Paul, Weiss team included corporate partner Tong Yu.