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Tencent, invest in Better Life

Tencent Holdings and are buying minority stakes in Chinese retailer Better Life Commercial Chain Share.

A Tencent subsidiary is paying RMB886.9 million (US$140 million) for a 6 per cent shareholding, while a subsidiary is paying RMB739.1 million for a 5 per cent stake, according to a Better Life filing with the Shenzhen stock exchange.

Also known as Bubugao, Hunan-based Better Life announced a strategic collaboration agreement with Tencent at the beginning of this month, Reuters reports. The three companies and shareholders agreed to the transactions on February 14, according to the filing.

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