Tencent is teaming up with HSG (Hillhouse Capital Group), ZhenFund, and Manus management to buy Manus back from Meta. The acquisition price is estimated at around $2 billion, close to what Meta paid.
After the deal closes, Tencent is expected to become Manus's largest shareholder, but its stake will still not exceed 50%. Manus will continue to operate independently and will not be merged into Tencent.
Meta acquired Manus last December for about $2 billion. Chinese regulators subsequently demanded the deal be unwound, prompting both sides to find a new arrangement.