Red Velvet Lee Soo South Korea K-pop EXO SM Entertainment and Red Velvet Lee Soo South Korea

Kakao and CJ Group both looking to purchase controlling stake in SM Entertainment

Reading now: 220
www.nme.com

SM Entertainment.According to a report by The Korea Economic Daily, CJ Group has proposed a price of ₩300billion (approximately £188million) for a 18.75 per cent controlling stake in SM Entertainment, home to popular K-pop acts such as Red Velvet, NCT, EXO, Girls’ Generation and more.CJ Group’s bid for the shares of SM Entertainment puts them in a race with some of South Korea’s biggest corporations, including Kakao Corp, which had previously proposed a premium of over 70 per cent for the stake.HYBE, home to K-pop megastars BTS, had also taken an interest in the controlling stake and reportedly offered a higher price than Kakao’s proposal.

Read more on nme.com
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA