Huace Film & TV Invests RMB 323 Mln in Korean Film Company

Huace, 10/09/14

Zhejiang-based film and TV production and distribution company Huace Film & TV (300133.SZ) has signed a share purchase agreement, through its Hong Kong subsidiary, to acquire a stake in South Korean film production and distribution company Next Entertainment World (NEW). Huace will acquire 1.786 mln newly issued shares, a 15% stake in the company, for KRW 53.581 bln (approx. RMB 323 mln).

After the deal is completed, Huace and NEW will jointly invest up to KRW 2 bln (RMB 6 mln) to establish a joint venture media company. The companies will each hold a 50% stake in the new firm, but this ratio may be adjusted according to business demands.

Keywords: overseas South Korea Next Entertainment World film television Huace 300133.SZ JV M&A TV content production film production

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