Thursday, December 7, 2023

Pérez-Llorca advises Tequila Works on majority sale to Tencent

Tequila Works, with the advice of Pérez-Llorca, has welcomed Tencent as the majority shareholder of the game development studio


Chinese giant Tencent has acquired a majority stake in Spanish video game studio Tequila Works. The final amount of the deal has not been disclosed.

Madrid-headquartered Tequila Works, founded in 2009, is known for titles including RiME, Deadlight, GYLT, The Sexy Brutale, The Invisible Hours and the forthcoming Song of Nunu a League of Legends Story said Tencent’s investment will provide it with the means to take its games to the next level.

“For 12 years, the teams at Tequila Works have passionately crafted high-quality titles that radiated our personal sensibilities,” said Tequila Works CEO Raúl Rubio. “But there’s a limit to how much you can grow by yourself.”

Luz Sancho, Tequila Works chairwoman said: “We are delighted to ally with a partner that allows us to make Tequila Works a stronger studio with access to all the resources required to produce titles of the highest quality, all made with the care and passion our beloved fans know us for as well as the opportunity of bringing these projects to a wider audience.”

Pete Smith, VP Partnerships for Tencent Games Global commented: “Tequila Works’ creativity and attention to detail has resulted in titles that have delighted audiences around the world. We look forward to working alongside the team and building on these foundations to deliver on its exciting ambitions for future games.”

Tequila Works CEO Raúl Rubio said it’s rare to find a partner like Tencent.

“They’re a partner that can appreciate the value of top creative talent with originality as their banner. One that respects our independence and creative freedom. This partnership will allow us to focus on taking the original IPs we are known for to greater heights and create the best experiences we can dream of,” Rubio said.

Haya Capital acted as the financial advisor to Tequila Works in the transaction.

Pérez-Llorca advised Tequila Works with a team led by Tax partner José Ramón Vizcaíno that included Tax lawyer Paulino González-Fierro and associate Enrique Delgado.

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