The Firm is currently representing Elektromotive Group Limited in its acquisition of Dream T Entertainment Co., Ltd for a total consideration of $22.7 million to be satisfied by way of cash payment and issue and allotment of new shares.
The Target is a company incorporated in the Republic of Korea on 28 July 2009 and listed on the Korea New Exchange (“KONEX”) of the KRX on 24 June 2015. The Target and its 80% owned subsidiary, YMC Entertainment Co., Ltd, also a company incorporated in the Republic of Korea, are artist management companies which produce various genres of music and manage a variety of artists such as Girl’s Day, MAP6, Ailee, Jessi, Topbob, MC Mong and Bae Chi Gi. The Target Group is also in the business of drama and soundtrack production.
The Proposed Acquisition, if it proceeds to completion, is expected to result in a Reverse Takeover of the Company as defined in Chapter 10 of the Listing Manual Section B: Rules of Catalist of the Singapore Exchange Securities Trading Limited and is subject to, amongst other things, the approval of the SGX-ST and the shareholders of the Company at an extraordinary general meeting to be convened.
HEP Partner Claudia Teo, led the team for the above transaction.