Tencent to invest $100m in Global Blue.

Tencent, a technology and entertainment conglomerate, agreed to invest $100m in Global Blue, a provider of tax free shopping information services. “We are pleased to welcome Tencent as a shareholder as we continue to diversify our ownership base. We have achieved robust revenue growth and margin improvement in recent quarters, thanks to the ongoing international travel recovery and our investments in digitalization and new products, as well as cost management. Today’s investment validates our strategy and confidence in the ongoing travel recovery. We believe Global Blue is well-positioned to continue to benefit from the return of Asian shoppers in FY24/25 towards 2019 levels, in particular Mainland Chinese, supporting our Adjusted EBITDA guidance of more than €200m in FY24/25,” Jacques Stern, Global Blue CEO.