A unit of the gaming company Nazara Technologies Ltd. acquired 52,683 shares in Freaks 4U Gaming GmbH worth Rs 213 crore on Thursday.
E-sport and gaming company Nodwin Gaming International Pte. Ltd. bought a 43.97% stake in Freaks 4U, the company informed the exchanges. This takes Nodwin Gaming's total holding in the company to 57%, making it a subsidiary.
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Nodwin Gaming—a wholly owned subsidiary of Singapore-based Nodwin, a material subsidiary of Nazara Technologies—had in June said it would acquire a 100% stake in Freaks 4U in multiple tranches.
"The remaining 43% held by the founders, Michael Haenisch, Matthias Remmert and Jens Enders, will be swapped at a later time at its option," the company said in a statement in June. "Existing investors of Freaks 4U Gaming will become shareholders of Nodwin Pte."
The two teams had previously worked on jointly delivering high-profile projects such as the PlayerUnknown's Battlegrounds (PUBG) Mobile Global Open and the Esports World Cup.
Shares of Nazara Technologies closed 0.55% higher at Rs 909 apiece on Thursday, compared with a 0.03% decline in the NSE Nifty 50.
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